According to the Bureau of Labor Statistics, by 2028 there will be 43 million people 55 and older in the work force — nearly one-quarter of all workers. Yet even as they age, the word retirement is becoming less and less clear. For starters, people have the potential to live well into their 70s and 80s and beyond, which often makes a plan of retiring in one’s 60s less necessary or desirable. “Gone is the traditional vision of retiring,...
Irish men receive an average of €153 more than women in their pension payments, according to research by the Economic and Social Research Unit (ESRI). The study found the average total weekly pension income in 2010 was €280 for women and €433 for men, indicating a gender pension gap of approximately 35%. The total gender pension gap is due to differences in incomes from private and occupational pensions. Some 55% of retired men receive a private or occupational pension,...
Analysts and opposition parties have warned against government’s plans to force pension funds to invest in bonds issued by government. In August, president Cyril Ramaphosa said that South Africa should investigate using worker pensions to finance development and infrastructure projects. “We need to discuss this matter (prescribed assets) and we need to discuss it with a view to actually saying what is it we can do to utilise the various resources in our country to generate growth in a...
"The Prime Minister will launch three national and two state level schemes here on September 12. The first scheme is Kisan Mandhan Yojna, under which farmers will get Rs 3,000 pension; the second is laying the foundation stone for 462 Eklavya schools exclusively for quality education; the third is a pension scheme for small shopkeepers," the Chief Minister said in a press conference here on Tuesday. Das said that under the farmer's scheme, more than one lakh farmers have...
Choosing how to grow your money for a comfortable retirement is a vexing question for many investors – and there doesn’t seem to be a correct answer. Picking the right investment horse to back is tricky and can have lifestyle changing repercussions when you reach retirement age. The favourites are property and pensions, but which one, if either, is best for you? Independent money mag Which? has looked at both and concludes striking a balance between the two rather...
U.S. corporate pensions felt the pain of low bond yields in August. The retirement funds for U.S. corporations had just 82% of the money they expect to need over time for pensioners as of August, down four percentage points from July, according to a statement from consulting firm Mercer on Monday. The steep drop stemmed from long-term bond yields plunging to record lows, which effectively increases the current value of companies’ future obligations. Declines in U.S. equities didn’t help...
Australian pension funds are sitting on a A$245 billion ($167.38 billion) 'wall of money' that will probably flow overseas because of a lack of domestic options, asset managers say. Thanks to Australian laws requiring employers to contribute at least 9% of a worker's salary to a pension, superannuation funds, as they are known locally, are the world's third-largest pool of pension assets, worth about $1.9 trillion. The Australian stock market is worth only $1 trillion. The nearly 2:1 ratio...
The Insurance and Pensions Commission (IPEC) says it has made “significant progress” on institutional and regulatory reforms in keeping with recommendations of the Justice Smith-led Commission of Inquiry. The Commission of Inquiry focused on the conversion of insurance and pensions values from Zimbabwe dollar to the United States dollar, but it also included other reform proposals. Although progress had been recorded on other aspects of the pensions reform agenda, IPEC pensions director Josphat Kakwere said development of the proposed...
The average Estonian pension will after the spring 2020 indexation surpass 500, the country’s Finance Ministry has stated. Estonian public broadcaster ERR reports that on Monday, September 9, the Estonian government’s summer economic forecast presentation has been held. Pensions increase annually in April as a result of indexing, with the change coming into effect on the first day of the month. In the second quarter of 2019 the average Estonian old-age pension was nearly EUR 485. In 2020, a...
When we talk about retirement security, it’s usually older workers we have in mind. But what about millennials? People currently aged 23 to 39 now make up the largest portion of the U.S. labor force. The future of retirement is, literally, the future of millennials. On the fifth and final (for now!) episode of my podcast Reset Retirement, we explored what’s next for American retirement. For millennials, it’s a mixed bag. While their savings are less than ideal, thanks...
