October 2019

24Oct

A step closer towards universal health coverage for an ageing world

HelpAge attended the High-Level Meeting on Universal Health Coverage (UHC) at the United Nations, New York. UHC is essential for ensuring all people, everywhere, can access quality health and care services with financial protection. At the meeting and in the months leading up to it, we have heard countless examples of how affordable, accessible, quality health and care services unlock people's potential and how UHC is therefore one of the smartest investments countries can make. Older people face specific...

October 24, 2019
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23Oct

Brazil Pension Reform Clears Congress, Stocks Hit New Highs

Brazil's Senate on Tuesday approved a sweeping overhaul of the country's pension system to stabilize public finances and restore business confidence, setting up President Jair Bolsonaro to sign his keystone economic proposal into law. Read also Japan. No excuse for inaction on pension reforms The Senate approved the main text of the landmark pension reform by a margin of 60-19 in a late Tuesday session before moving on to consider amendments. Read also Irish pensions need urgent reform, industry specialist...

October 23, 2019
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23Oct

German Bundesbank recommends raising retirement age to 69

Imagine working until at least the age of 69 - that’s what the experts at the Bundesbank in Germany are recommending. They argue that such a change is necessary; otherwise pension payments will fall too low in the face of rising life expectancies. Demographic change puts pressure on German pension system Discussing the prospect of a future reform of the pension system in Germany, the Bundesbank has proposed a long-term increase in the retirement age to 69 years...

October 23, 2019
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23Oct

UK. British pensioners in Europe struggle to make ends meet, committee told

Retired Britons in Europe are not sipping prosecco on a warm terrace but are struggling to make ends meet and fear further poverty because of Brexit, a parliamentary committee has been told. Jeremy Morgan QC said retirees in the EU living exclusively or almost exclusively on British pensions have already suffered a decrease in their income because of the depreciation in sterling since the referendum. They were hit by a second blow last month when the government revealed it...

October 23, 2019
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23Oct

What Does It Take To Build The World’s Best Pension Systems? Ask The Netherlands And Denmark

By Elizabeth Bauer The Melbourne Mercer Global Pension Index 2019 edition has been published, and the United States has been given a rank of C+ in this comparison of pension systems of 37 rich and middle-income countries, with a score of 60.6, slightly above the average of 59.3. Also in the C+ category were the UK and France; among the C countries were Spain, Austria and Italy; B countires included Canada, Ireland, and Germany. Which countries were at...

October 23, 2019
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22Oct

Biggest public pension fund in U.S. dumps private prison firms that run ICE migrant detention centers

The largest public pension fund in the United States is divesting from the two major for-profit prison companies running migrant detention facilities for the federal government, the California Faculty Association announced following a meeting with the California Public Employees Retirement System (CalPERS) on Friday. Read also Where does retirement income come from in the US? The move by CalPERS is part of a larger trend by pension funds and businesses that have pulled their financial backing from GEO Group and...

October 22, 2019
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22Oct

Nigeria: AfDB Advocates Unlocking of U.S.$1.8 Trillion AUM for Investment

The President of the Africa Development Bank (AfDB), Dr. Akinwunmi Adesina, has stressed the need to mobilise mutual funds and other Assets Under Management (AUM) in the continent put at $1.8 trillion, to drive Africa's development. He also said commercial banks who desire to get credit lines from the AfDB would have to increase lending to women-focused businesses, saying the bank was set to launch a rating for women- focused lending. Adeshina, said this in an interview on the...

October 22, 2019
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22Oct

UK. FCA calls for pension policy simplification

The Financial Conduct Authority (FCA) has called on pensions policy to be simplified for consumers due to the overly complex nature of defined contribution schemes. Speaking at the Cicero event on the future of regulation, FCA executive director of strategy and competition, Christopher Woolard, said that choices that members may not understand can make a “huge difference” to their retirement outcomes. He outlined the importance of advice for consumers in making these decisions and helping them understand the...

October 22, 2019
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22Oct

Japan. No excuse for inaction on pension reforms

In Japan, which faces an accelerated aging of the population with ever fewer births, a vague sense of anxiety over the public pension system is spreading. Generally speaking, future pension finance greatly fluctuates depending on demographic composition and changes in socio-economic conditions. Accordingly, the government examines the health of pension finance every five years to assess its condition. The result of the latest checkup, disclosed at the end of August, shows that the level of pension benefits about 20...

October 22, 2019
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21Oct

These are the world’s best (and worst) pension systems

The Netherlands and Denmark have the best pensions systems in the world, according to a global study that shines a light on how nations are preparing ageing populations for retirement. Read also What Does It Take To Build The World’s Best Pension Systems? Ask The Netherlands And Denmark The countries took the top two slots in the Melbourne Mercer Global Pensions Index published on Monday, both earning an A grade for the level of financial security provided in...

October 21, 2019
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