February 2022
28Feb

Retirement age to be progressively raised in China

This is the government’s first step in gradually raising the retirement age under its five-year plan through 2025, with other provinces expected to follow suit later. As Jiangsu calculates pensions partly based on how long each individual has worked, those who choose to defer could end up with higher monthly payments when they retire. Read also Hungarian pension funds made record income from insurance premiums Amid staunch opposition against a blanket increase in retirement age, the province has opted for a voluntary...

February 28, 2022
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28Feb

Nigeria. Stakeholders advocate micro pension to secure financial future

The Pension Fund Operators Association of Nigeria have urged those in the informal sector to embrace micro pension as a means of securing their future financially. The Chief Executive Officer of the Association, Mr. Oguche Agudah made the call at the maiden Retreat and Unveiling of Magazine, THE PENSIONER for the Pension Correspondents Association of Nigeria in Abuja. Mr. Agudah said Contributory Pension Scheme should be embraced by all, because of its flexibility and safety of funds as it was a...

February 28, 2022
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28Feb

Owning a Dog Could be Key to “Succesful Aging”- Study

Every dog owner knows and sometimes bemoans the daily ritual of taking your pup out for a walk. But as it turns out, those strolls around the block with Fido may be the key to a healthy life, especially as we get older. A study published Wednesday in the journal PLOS ONE examines the relationship between pet ownership, disability, and death among seniors in Japan, providing new insights into the connection between dog ownership and successful aging. The researchers discovered dog...

February 28, 2022
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25Feb

Russian actions vs. Ukraine have European investors on alert

Geopolitical conflict between Russia and Ukraine is making institutional investors in Europe nervous, with some pension funds reducing their Russian holdings, and others watching closely. Read also Investors, governments act on Russia’s escalation in Ukraine The political situation that has been brewing since late 2021 escalated dramatically Feb. 24, when Russian troops invaded Ukraine. That prompted other countries, including the U.S. and the U.K. to impose increasingly strict sanctions against Russia, and the prospect of more from Canada, Japan and Australia. European...

February 25, 2022
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25Feb

Canadian Pensions Bankrolling Elder Abuse and Misappropriation of Public Money by French Long-term Care Multinational: CUPE

A new report by the Centre for International Corporate Tax Accountability and Research (CICTAR) reveals that Europe’s largest long-term care home operator, Orpea, has been building a property empire while facing allegations of elder abuse and misappropriation of public money. Orpea is 15 per cent owned by the Canada Pension Plan Investment Board (CPPIB), which also holds two seats on Orpea’s board of directors. CUPE is reiterating its call for Canadian pension funds to stop bankrolling suffering and abuse...

February 25, 2022
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25Feb

The political economy of pension reform in Argentina

Technical design for pension reform Argentina has more than two hundred different retirement bases at the national, regional, municipal and private levels. In general, subsystems other than SIPA provide a better relationship between effort to contribute during active life and perception of benefits during passive life. However, in most cases, these discrepancies do not reflect disparate risks in related work activities (strenuous, risky or unhealthy), but rather reflect the ability of these groups to achieve more beneficial rules than those implied...

February 25, 2022
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25Feb

Retirees Depleting Retirement Plan Lump Sums Faster than Five Years Ago

When approaching retirement, employees are faced with a decision that can have lifelong implications: take a lump sum payment or a guaranteed monthly annuity from their employer-sponsored defined contribution (DC) plan. According to MetLife’s 2022 Paycheck or Pot of Gold Study℠, a growing proportion of retirees are depleting their lump sums at faster rates than previously seen. The full report is available at metlife.com/paycheckgoldstudy. Today, one in three retirees (34%) who took a lump sum from their DC plan, depleted...

February 25, 2022
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24Feb

Investors, governments act on Russia’s escalation in Ukraine

AkademikerPension, Gentofte, Denmark, is halting some Russian investments as the situation with Ukraine escalates, the pension fund said in a statement Tuesday. The evolving situation in Ukraine prompted several government moves. U.K. Prime Minister Boris Johnson informed Parliament Tuesday that sanctions will be imposed on five Russian banks and three high-net-wealth individuals. Mr. Johnson described it as "the first tranche" of sanctions. U.S. President Joe Biden announced Tuesday the U.S. is imposing sanctions targeting Russia’s sale of sovereign debt abroad...

February 24, 2022
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24Feb

UK. Auto-enrolment contribution rates need to rise to 12%, expert tells MPs

Auto-enrolment contributions need to rise to 12 per cent of earnings from the current 8 per cent, but this change should not be rushed through, MPs have been told. Speaking to the work and pensions committee this morning (February 23), Nigel Peaple, director of policy and advocacy at the Pension and Lifetime Savings Association, said auto-enrolment pensions “work really well”, while the voluntary saving side simply “hasn't come through”. “We believe the answer is to increase the automatic enrolment contributions,” said...

February 24, 2022
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24Feb

China starts nationwide pooling of basic pension funds

China has started nationwide pooling of basic pension funds since Jan. 1 this year, Vice Minister of Finance Yu Weiping said Tuesday. Read also China to allow more pension providers The move will allow pension funds to be transfered from regions with surplus to regions with deficit, Yu said at a press conference, adding the ministry is drawing up related documents and will strengthen guidance to localities. Read also China releases 5-year plan for elderly care services Qi Tao, an official from the...

February 24, 2022
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