News Archives - Page 868 of 950 - Pension Policy International

09JanJanuary 9, 2018

UK. 140,000 carers miss out on £240-a-year boost to state pension

More than 140,000 carers could be missing out on hundreds of pounds a year in retirement as they have failed to take advantage of a government scheme to protect their state pension. Those who spend more than 35 hours a week caring for someone, even a relative, are automatically given National Insurance credits that preserve their right to a full state pension. Those who spend fewer hours as a carer must apply for credits, and it appears many are missing out. When the...

January 9, 2018

News, SliderUK

09JanJanuary 9, 2018

UK. Esther McVey appointed Work and Pensions Secretary

Former television presenter and Member of Parliament for Tatton, Esther McVey, has been appointed as Secretary of State for Work and Pensions in the latest Cabinet reshuffle. McVey landed the role after Justine Greening turned it down and resigned from the cabinet yesterday evening. She replaces David Gauke who was given the role as part of the last cabinet reshuffle in June 2017. Gauke will become Secretary of State for Justice, replacing David Lidington. CEO of financial advisory firm deVere Group,...

January 9, 2018

News, Slider

08JanJanuary 8, 2018

Thailand. Ageing population gives rise to worries over pensions

Amid concerns about the sustainability of the Social Security Fund (SSF) due to an ageing population, the Social Security Office (SSO), which oversees the SSF, continues to lock horns with labour networks over how best to address the issue. The SSO's approach is to raise the cap of base salary for payroll deductions from 15,000 baht to 20,000 baht a month. This means the maximum deduction, which would be funnelled to the SSF, would rise from 750 baht to 1,000...

January 8, 2018

News, SliderThailand

08JanJanuary 8, 2018

New Zealand. Pensions paid to thousands after death

The Ministry of Social Development has released figures which show it overpaid almost 7000 deceased people for a month or more over the past five years. In a statement, a spokeperson said the Ministry was formally notified of a person's death by the Department of Internal Affairs. "In some circumstances, this can be some time after the actual date of death." The Ministry also double-checked the information was correct before stopping any payments which also contributed to a slight lag. Read more...

January 8, 2018

News, SliderNew Zealand

08JanJanuary 8, 2018

Pension risk as US watchdog warns savers of bitcoin ‘scammers’ and ‘bogus investments’

The US-based Utah Division of Securities has released information warning savers that cryptocurrency schemes may target individuals' retirement savings. The Division of Securities works to protect the investing public and promote confidence in the capital markets. And the warning comes after Merrill Lynch, the investment arm of The Bank of America, decided to block access to all funds connected to bitcoin after concerns were raised by bank chiefs over the "suitability and eligibility standards of this product”. Keith Woodwell, director of...

January 8, 2018

News, SliderUS

05JanJanuary 5, 2018

US. Pension Fund Members Don’t Know Their Plans Are Underfunded: Study

U.S. public pension fund members are generally unaware that their pension is underfunded and of the risk this poses, according to a survey released Thursday by Spectrem Group. The study also reveals a wide gap between how members want their pension funds managed and the actual approach many managers take. The survey, conducted online in the second half of November, compared CalPERS and NYC Retirement Systems (NYC Funds) against a “national” group, comprising individuals from the New York State Common Retirement...

January 5, 2018

News, SliderUS

05JanJanuary 5, 2018

Canada. Aon survey finds financial health of defined benefit pension plans ends 2017 near decade-long highs

Aon’s Median Solvency Ratio at end of Q4 2017 stood at 99.2% Pension plans’ financial strength positions them well to manage liabilities in 2018 Capping a year that saw the financial health of Canadian defined benefit pension plans reach levels not seen in more than a decade, plan solvency in the fourth quarter of 2017 maintained the trend and remained near the post-recession high set in Q3, according to Aon’s latest quarterly Median Solvency Ratio survey. Read more @GloblalNewswire

January 5, 2018

News, SliderCanada

05JanJanuary 5, 2018

Deciding Between a Lump Sum or Monthly Pension Payments

Retirement planning was not always as complicated as it is today. There was a time when 30 years of service was rewarded with a golden watch and a lifetime pension. Today fewer and fewer employers are offering pensions and the ones who do are looking for ways to reduce the long-term obligations associated with pension plans. One of the strategies that employers are using to reduce these long-term obligations is lump sum buyouts. A lump sum buyout is an offer...

January 5, 2018

News, Slider

05JanJanuary 5, 2018

US. How to out-fox Congress when it comes to retirement savings

There’s plenty of stressful news these days, and by and large I’m used to hearing or reading about unpleasant developments. But I was particularly alarmed by a report this fall that Congress was considering drastic cutbacks in the contribution limits to 401(k) and similar retirement plans. Currently, the maximum annual contribution to such plans is $18,500 ($24,500 for workers age 50 and older). These contributions are tax-deferred, meaning the money isn’t taxed until it is withdrawn, presumably after retirement when workers...

January 5, 2018

News, SliderUS

04JanJanuary 4, 2018

China. More provinces mull entrusted pension investment: official

Three provinces and one autonomous region are planning for entrusted pension investment to deal with mounting payment pressure, a social security official said Wednesday. Gansu, Zhejiang and Jiangsu provinces as well as Tibet Autonomous Region are considering entrusting some of their pension funds, totaling 150 billion yuan (23.05 billion U.S. dollars), to the National Council for Social Security Fund (NCSSF) for professional investment, according to Tang Xiaoli, an official of the Ministry of Human Resources and Social Security. China is facing...

January 4, 2018

News, SliderChina

January 2018