News Archives - Page 931 of 950 - Pension Policy International

24AprApril 24, 2017

Labour joins calls for stronger pension protections after master trust closes

Labour has joined calls for greater protections to be given to members of workplace pension schemes, after New Model Adviser® revealed how one such scheme closed to new members. Our story raised alarm bells after warnings were made last year by then pensions minister Ros Altmann that master trusts had ‘shockingly’ been set up with no customer protection regime in place. Though protections are now in the pipeline, pension scheme members’ savings could be put in peril by further master trust...

April 24, 2017

NewsUK

24AprApril 24, 2017

Are Asia’s Insurers and Insured Prepared for Aging Boom?

The Asia-Pacific (APAC) region is aging faster than anywhere else in the world with an expected increase of 200 million elderly people (aged 65 and above) by 2030. The aging population is driving an increase in noncommunicable diseases (NCD)—such as diabetes, cancer and heart disease—and ultimately leading to a substantial increase in insurance premiums that could threaten the affordability and sustainability of the insurance model. Increasing NCD Prevalence and its Impact Asian societies are aging at an unprecedented pace and scale,...

April 24, 2017

News, OP EdAsia

24AprApril 24, 2017

Trinidad & Tobago. Payment of pensions in timely manner

The Ministry of Public Administration has announced a new system intended to ensure the timely delivery of pensions to public officers. In a news release yesterday, Public Administration and Communications Minister Maxie Cuffie said Cabinet has approved and confirmed a note that deals with a backlog of pensions in the public service and the Government is putting measures in place to prevent a recurrence of the problem. Cuffie also announced the new system in Parliament during debate on the Fire Service...

April 24, 2017

NewsTrinidad & Tobago

24AprApril 24, 2017

Voters furious at heartless Tory plans to raid pensions and hike taxes after the election

Angry voters have rejected Theresa May’s heartless plan to hike taxes and raid pensions after the election. A new poll shows nearly a third of people are less likely to support the Tories following Mrs May’s refusal to rule out tax rises or back the triple-lock on pensions. The resounding thumbs-down for the Prime Minister came as she dodged the press, public and awkward questions yesterday by doing a disappearing act. Instead, she sent out floundering ministers to face the music –...

April 24, 2017

NewsUK

21AprApril 21, 2017

UK. Macquarie denies asset stripping plan as it buys Green Investment Bank for £2.3bn

Macquarie has insisted it will not asset strip the Green Investment Bank in the wake of its £2.3bn acquisition of the lender despite admitting it will sell off parts of the business following the controversial privatisation. The Government today announced a consortium led by the Australian bank had won the auction for GIB with a deal to buy it for £1.7bn and a pledge to meet a further £600m of the lender’s outstanding commitments. It marks a £160m premium to...

April 21, 2017

News

21AprApril 21, 2017

Inadequate pensions leave India’s elderly no choice but to work

Kamla Devi (not her real name), of advanced but uncertain age, lives in Lohari, a remote adivasi village located inside a wildlife sanctuary in Udaipur, Rajasthan. On a summer day in 2016, we approached her as she was chasing after a small herd of goats, to ask questions as part of a study on the relation between ageing, paid work and pensions. Our very first question–whether she was a beneficiary of the government's non-contributory pension scheme for the aged–irritated her....

April 21, 2017

NewsIndia

21AprApril 21, 2017

UK. Tata Steel offers £520m pensions payment in bid to secure future

Tata Steel could pay more than £500m into its UK pension scheme as part of a deal with regulators that involves the Pension Protection Fund taking a stake in the business. The Indian-owned company needs to find a solution to its pension scheme to secure the future of its UK operations, which employs 8,000 workers and includes the Port Talbot steelworks in south Wales. Tata Steel is trying to hive off its historic liabilities before merging its European steel operations...

April 21, 2017

NewsUK

21AprApril 21, 2017

What HK can learn from Taiwan’s pension fund chaos

Taipei Mayor Ko Wen-je was among those assaulted by protesters outside the parliament on Wednesday. The violent protest was triggered by President Tsai Ing-wen’s plan to reform Taiwan’s hemorrhaging pension system, which is expected to go bankrupt within three years due to excessively high benefits. Concerned that their retirement income will be cut, a large number of retired civil servants, teachers and servicemen have tried to stop lawmakers from entering the legislative complex in central Taipei. Ko became a target probably...

April 21, 2017

News, OP EdTaiwan

21AprApril 21, 2017

UK. Regulator pledges to act quickly on DB pension problems

The Pensions Regulator (TPR) has promised to act quickly when it identifies problems with defined benefit (DB) schemes. In its corporate plan for 2017-2020 TPR also said master trust regulation would be a priority. TPR will spend an additional £7.9 million in 2017-18 compared to last year, £3.5 million of which will be spent on the implementation of a master trust authorisation regime and an increase in frontline resources to tackle defined benefit failures more efficiently. The remainder is associated with the...

April 21, 2017

NewsUK

20AprApril 20, 2017

US. Metro’s Manager Calls For More Funding, Reduced Pensions

Metro general manager Paul Wiedefeld officially charged into the region’s political arena Wednesday, unveiling an ambitious plan to save the transit system’s sinking finances. Wiedefeld is calling on local lawmakers to establish a dedicated source of funding that will provide $500 million annually for WMATA’s long-term infrastructure and maintenance needs. However, he is not prescribing a specific solution, such as a regional sales tax. Wiedefeld is leaving that for elected officials to decide. The bottom line of Wiedefeld’s long-awaited report, published...

April 20, 2017

NewsUS

April 2017