October 2019

28Oct

France. Macron vows to push pension reform ‘to the end’ despite strikes

French President Emmanuel Macron vowed no let up in his drive to implement far-reaching pension reforms despite a looming winter of strikes by unions angered by the plan, in an interview broadcast on Monday. Macron told RTL radio that there would be "no complacency or weakness" in pushing through the changes, even if it risked making him more unpopular. "I want this reform to go to the end, I think it is necessary for the country so I will...

October 28, 2019
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28Oct

Thailand. Pensions need drastic reform

Becoming an aged society is a big challenge for Thailand, especially when it comes to welfare provided by existing pension schemes. According to the United Nations, a country with over 10% of its population aged 60 and older is an ageing society. When this group increases to over 20%, the country becomes classified as an aged society. In Thailand, as of 2015, 10.5 million people, or 16.2% of the 65.2 million population, were aged over 60. Siam Commercial Bank...

October 28, 2019
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28Oct

UK. Retirement income gender gap is the biggest in a decade

At first glance, the latest numbers suggest we’re all finally winning the battle for a comfortable old age. Official figures out this week from the Department for Work and Pensions and the Pension Regulator show equal numbers of men and women are now saving into a workplace pension. Even the number of employees asking to join who don’t automatically qualify – often women in part-time roles who don’t earn enough – has increased dramatically. Commenting on the figures, Guy...

October 28, 2019
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28Oct

Chile president lifts state of emergency, protests continue

Chilean President Sebastian Pinera on Monday ended a state of emergency that lasted more than a week amid mass protests, but demonstrations continued nonetheless. The decision to lift the decree at midnight, just two days after more than a million people took to the country''s streets demanding economic and political change, comes after the equally unpopular week-long nighttime curfews ended on Saturday. Authorities imposed both the state of emergency and curfews last weekend after Chile was rocked by its...

October 28, 2019
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28Oct

UK. MPs call for end to freeze on State pension for half a million expats living outside of Europe

Pension payments to British expats living in Europe will rise in line with inflation But the same does not apply to payments for pensioners living further afield More than 40 MPs are calling on the Government to overturn the move More than 40 MPs are calling on the Government to overturn an enduring injustice affecting State pension payments to half a million UK nationals living overseas. The cross-party group is sending an open letter to Therese Coffey, the Secretary...

October 28, 2019
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25Oct

UK. Watchdog hails success of auto-enrolment pensions

Regulators and financial experts are hailing a rare public policy success after figures on Britain’s “auto-enrolment” scheme revealed 10 million more people are now saving, with record amounts going into pensions. British workers saved £90.4bn into their pension schemes in 2018, according to the Pensions Regulator – £7bn more than the year before. Behind the surge in saving is auto-enrolment, the scheme set up by the government in 2012 to make sure everyone, whether they work for a supermarket...

October 25, 2019
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25Oct

Germany: Age Limits For Occupational Pensions Not Discriminatory Against Women

The Federal Constitutional Court clarified that maximum age limits for occupational pension benefits do not violate the general principle of equality. This confirms the jurisdiction of the Federal Labor Court, according to which maximum age limits for occupational pension schemes do not constitute age discrimination or even discrimination against women. Federal Constitutional Court, Non-acceptance order July 23, 2019 – Case 1 BvR 684/14 The complainant had initially retired from gainful employment due to the birth of her child and...

October 25, 2019
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25Oct

Ireland. Defusing the pension time bomb

The Government’s recently published “National Risk Assessment 2019” identified Ireland’s rapidly-ageing population as a significant risk to a number of essential areas. There is talk from some quarters that the State pension will eventually disappear due to rising costs. Is this simply scaremongering from those with skin in the game, or should people be fearfu for the future of a cherished benefit? Aisling Kelly, senior healthcare consultant at Mercer, says she is not of the opinion that the State...

October 25, 2019
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25Oct

Mozambique Receives US$35 Million Grants of Additional Financing for Social Protection [EN/PT]

The World Bank approved today an International Development Association (IDA)* grant of US$35 million equivalent from the institution’s Crises Response Window as additional financing to scale up the Government of Mozambique’s safety net programs in response to the devastating effects of the cyclones Idai and Kenneth on people’s livelihoods in affected communities. This financing is accompanied by a US$10 million grant from a Multidonor Trust Fund supported by the Department for International Development, United Kingdom, the Netherlands, and Sweden....

October 25, 2019
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25Oct

Where does retirement income come from in the US?

Most of us depend on a paycheck to provide the funds we need to cover costs of living. But when you retire, your paycheck ends even though you still need a source of support. While different retirees may have their own unique income streams, such as money from alimony or from real estate investments, the most common sources of cash for seniors include the following. 1. Social Security For 50% of married couples and 70% of unmarried...

October 25, 2019
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