News Archives - Page 506 of 985 - Pension Policy International

16NovNovember 16, 2021

Spain to raise social-security payments to fund coming pensions boom

Spain's government has agreed with unions to raise social-security contributions by 0.6% between 2023 and 2032 to help pay for the pensions of an upcoming wave of retirees, the Social Security Ministry said on Monday. Spain experienced a baby boom during the last two decades of Francisco Franco's dictatorship which ended in 1975, and people born during that era are expected to retire soon, putting state finances under increasing strain. Read also With more than 450 delegates, MENA’s biggest pensions conference...

November 16, 2021

NewsSocial Swcurity, Spain

16NovNovember 16, 2021

Experts Concerned About Senior Poverty in S. Korea as Aging Society Takes Speed

Experts are increasingly concerned over the issue of senior poverty caused by a lack of pension programs and other senior welfare policies as South Korea is becoming an aging society at twice the speed of Japan. The Korea Economic Research Institute (KERI) conducted a survey of 500 senior respondents over 65 years of age from South Korea and Japan, which showed that fewer South Korean seniors receive pensions than their Japanese counterparts. Read also Bangladesh. Guardian Life launches “Ajibon Pension Plan”...

November 16, 2021

NewsAging, South Korea

16NovNovember 16, 2021

With more than 450 delegates, MENA’s biggest pensions conference goes live in Bahrain

The Annual Arab Pensions Conference 2021 will be inaugurated tomorrow under the patronage of His Excellency Lieutenant Dr. Sheikh Mohammed bin Abdulla Al Khalifa, Chairman of the Supreme Council for Health, Chairman of Al-Hekma Retired Society. This year’s conference is held with the grand theme of: “What should MENA Pension Systems look like for the next 50 years?”. The annual conference has become a regional platform for discussing topics and issues related to pension and social security systems in MENA...

November 16, 2021

NewsMENA, Pension design

16NovNovember 16, 2021

UK. Could CDC solve the USS crisis?

Collective defined contribution has been touted as a possible long-term solution to the problems of the Universities Superannuation Scheme, but experts and unions are not convinced of its suitability. As Pensions Expert has reported previously, the USS trustee has been locked in protracted negotiations with employers, represented by Universities UK, and union members, represented by the University and College Union, over the outcome of its controversial 2020 consultation. The results of its latest valuation saw the scheme’s deficit quadrupling to more...

November 16, 2021

NewsPublic Pensions, UK

12NovNovember 12, 2021

U.S. Steel to Transfer About $284 Million of Pension Obligations

United States Steel Corp. said it will transfer about $284 million of pension plan obligations via a purchase of annuity contracts from two units of Legal & General Group PLC. The purchase results in the transfer of administrative and benefit-paying responsibilities for about 17,800 U.S. retirees and beneficiaries. The steel company said "this transaction is yet another meaningful step in strengthening the company's balance sheet and further de-risking our pension plan, a plan that remains more than 100% funded and is...

November 12, 2021

NewsPension Management, Risk, US

12NovNovember 12, 2021

UK. DC schemes urged to offer more pension choices at retirement

Only 11 per cent of defined contribution (DC) pension schemes offer members a full suite of options to access funds at retirement, despite this delivering the best outcome for members, research from XPS Pensions Group has found. XPS's DC Member Outcomes Report revealed that members with access to a full range of flexibilities at retirement, including access to flexible drawdown, a cash lump sum or an annuity, are more likely to make choices that allow them to maximise the funds...

November 12, 2021

NewsDefined Contribution, Payout, UK

12NovNovember 12, 2021

Build a Solid Risk Management Road Map

“The COVID pandemic itself didn't fundamentally change how risk management for pension plans should be addressed, but it did confirm why it’s important to have a sound risk management framework,” said Francois Pellerin, multi asset-class strategist at Fidelity Investments. “Plan sponsors who adopted the risk management best practices we’ve been preaching were able to adapt to market changes faster and emerge from the crisis in better shape than those who didn’t adopt those practices,” he said, speaking at Pensions...

November 12, 2021

NewsPension Management

12NovNovember 12, 2021

Experts say the 4% rule, a popular retirement income strategy, is outdated

Market conditions are pressuring the 4% rule, a popular rule of thumb for retirees to determine how much money they can live on each year without fear of running out later. Withdrawing money from one’s nest egg is among the most complex financial exercises for households. There are many unknowns — the length of retirement, one’s spending needs (health costs, for example) and investment returns, to name a few. The 4% rule is meant to yield a consistent stream of annual...

November 12, 2021

NewsIncome, Payout, Pension design

11NovNovember 11, 2021

US. House committee advances bipartisan retirement security bill

The House Committee on Education and Labor approved a bipartisan retirement security bill Wednesday in a voice vote. The Retirement Improvement and Savings Enhancement Act, or RISE Act, includes several ideas that have been introduced as stand-alone bills and as parts of larger retirement security bills, including the creation of a national online lost-and-found database for retirement accounts at the Department of Labor and enabling 403(b) plans to participate in multiple employer plans and pooled employer plans. Read also US. Newly...

November 11, 2021

News, Slider2021, Regulation, US

11NovNovember 11, 2021

UK. Huge increase in pension schemes with over £1bn

There has been a 90% increase in the number of UK pension schemes with over £1bn in assets since 2013, research by Barnett Waddingham has uncovered. In a report published today, the researchers also reveal how 55% of pensions schemes studied were closed to accrual this year, up from just 15% eight years ago. Expansion of pension scheme assets has meant more significant challenges for trustees and employers at a time when there’s about to be a step change in regulatory...

November 11, 2021

News, Slider2021, Occupational Pensions, Private Pensions, savings, UK

November 2021