May 2025
07May

UK. Govt urged to require UK investment in ‘quid pro quo’ for pension tax reliefs

The government should "embrace bold pension reforms", Baroness Ros Altmann has said, suggesting that the government should require at least 25 per cent of new pension contributions to be invested in Britain as a "quid pro quo" for tax reliefs. Altmann pointed out that the gross tax relief for UK pensions each year amount to over £70bn of taxpayer money, as individuals are able to take a quarter of all pension funds tax free, and no National Insurance is paid...

May 7, 2025
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07May

Philippines. SSS Announces New Grants & Pensions for 2025

SSS Announces New Grants & Pensions: If you’re a Social Security System (SSS) member in the Philippines, 2025 brings some of the most comprehensive updates in recent years. The SSS has officially rolled out a host of new grants, expanded coverage, pension enhancements, and voluntary retirement savings programs, offering fresh opportunities for all member categories. Whether you’re a full-time employee, a self-employed professional, or a retiree, these changes are designed to enhance your financial security and retirement readiness. In a time of...

May 7, 2025
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06May

US. House Committee advances proposal to cut back on federal employee pensions

In April, Representative James Comer (R-KY) announced a series of proposals that would force many federal civilian employees to pay higher premiums for retirement benefits and to lower their benefits by changing the formula for calculating payments, and last week the House Committee on Oversight and Accountability approved, by a narrow vote, to advance the proposals. Last Wednesday’s vote now advances the bill to the House Budget Committee, where it may face resistance from Republican lawmakers who might be reluctant...

May 6, 2025
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06May

UK. DB pension schemes pulling ahead of sponsors on ESG progress

Defined benefit (DB) pension schemes are pulling ahead of scheme sponsors when it comes to making progress on environmental, social and governance (ESG) considerations, research from LawDeb has revealed. The survey showed that both DB pension schemes and the sponsoring businesses behind them are relatively aligned in some key areas, as just over a third (34 per cent) of finance leaders surveyed think both the scheme and business are leaders in diversity ambitions. However, around the same number (32 per cent)...

May 6, 2025
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06May

Ghanaian PE, securities, pensions industry leaders sign compact to mobilise domestic capital

The Ghana Venture Capital & Private Equity Association (GVCA), one of Africa’s foremost VC industry associations, has launched an industry-wide “Compact” that champions local institutional asset allocations to venture capital and private equity. Founded in 2021, the Ghana Venture Capital Association (GVCA) acts as a key connector within Ghana’s private investment ecosystem, linking asset allocators, institutional investors, fund managers, portfolio companies, advisors, and service providers. Its growing membership consists of firms, including venture capital and private equity companies, institutional investors, and...

May 6, 2025
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06May

Informal sector and gender-responsive budgeting: Key to effective social spending

This week, the International Monetary Fund (IMF) announced a staff-level agreement with Sri Lanka for the fourth review under the Extended Fund Facility (EFF) potentially unlocking another $ 344 million in financing. Amongst energy pricing and tax reforms, social protection remains a commitment under the IMF’s fourth review. However, the integration of gender-specific considerations, particularly the inclusion of women, within the IMF’s bailout program has been limited and could be the key to missed targets. Under the EFF arrangement, the...

May 6, 2025
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06May

UK. State pension top-up payments ‘could take months’ to reach pensioners

Pensioners who have topped up their National Insurance records have been issued a warning as they could potentially face a months-long wait for their state pension increases. The surge in state pension top-ups has reportedly resulted in a six to eight-month delay in processing payments. This year marked the final deadline for topping up state pension payments through voluntary National Insurance contributions. Under existing rules, you require 35 qualifying years on your National Insurance record - some individuals may need more...

May 6, 2025
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06May

US. Congress reintroduces ‘portable’ federally-run retirement plan bill for private sector workers

The Retirement Savings for Americans Act, which would offer a federally-run program for uncovered low- and middle-income workers, was reintroduced in the Senate last week by Senator John Hickenlooper (D-CO), after being reintroduced in the House April 7 by Representative Lloyd Smucker (R-PA). The RSAAlegislation to help private sectors workers without access to 401(k)s build wealth and save for retirement. Recommended For You “Too many hard-working Americans are not able to prepare financially for retirement. Over half of working employees lack access to...

May 6, 2025
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05May

Brazil social security minister latest to quit in major pension fraud scandal

Brazil's Social Security Minister, Carlos Lupi, has resigned nine days after police unveiled a major corruption scandal which defrauded pensioners of $1.1bn (£829m). Federal police allege that over the past decade, the National Social Security Institute (INSS) made unauthorised deductions from payments made to millions of pensioners. The money was allegedly paid to several associations and unions, which then shared the earnings with corrupt government officials. Lupi has always denied any wrongdoing and said he ordered an investigation as soon as he...

May 5, 2025
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02May

UK. Nearly nine million savers remain ‘significantly underpensioned’

Nearly nine million savers in the UK remain "significantly underpensioned" compared to the broader population, with research from Now Pensions revealing that private pension incomes for under-pensioned groups are around 43 per cent to 80 per cent of the population average. The report, produced in partnership with the Pensions Policy Institute (PPI), showed that while progress has been made in some areas, such as rising eligibility for auto enrolment, the underpensioned challenge is far from resolved. Indeed, the report showed that...

May 2, 2025
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