July 2019

02Jul

Bulgaria. More than 2,130,000 Pensioners Will Receive an Increase of 5.7% on Their Pensions From Today

More than 2,130,000 pensioners will receive an increase of 5.7 percent on their pensions from today - 1 July. The change is in compliance with the Social Insurance Code provided for by all pension payments granted starting with 31 December 2018. This was announced by the National Social Security Institute.An increase by the same percentage of today will also apply to pensions that are equated to the minimum amount for the type of pension, including those granted in 2019....

July 2, 2019
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02Jul

US. Workers in California are one step closer to retirement security

The Golden State is trying to make everyone’s golden years a little more comfortable.California’s state-sponsored retirement program, called CalSavers, is now out of the pilot phase and officially available to the public. The automatic enrollment program sets up an individual retirement account for employers to offer their workers, who can make contributions through payroll just like they would if they had a 401(k) plan. California is the third state to run with this program, following Oregon and Illinois.More than...

July 2, 2019
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01Jul

Zimbabwe. IPEC’s new boss buoyant

The newly-appointed Insurance and Pensions Commission (IPEC) commissioner Grace Muradzikwa says Zimbabwe’s insurance industry has shown resilience despite the economic turbulence.Muradzikwa (GM), an insurance industry veteran, told our business editor, Kuda Chideme (KC), in an exclusive interview that the industry was “safe and stable”. Below are excerpts from the interview.KC: Congratulations on your latest appointment, which comes at a very crucial point in the history of the insurance sector and the country’s entire financial services industry. What is your...

July 1, 2019
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01Jul

Experts to help UK champion ageing society opportunities

Council of advisers set up to help UK seize economic opportunities of ageing society, and Business Champion for the Ageing Society Grand Challenge announced. A new council of specialists from across society, the UK Longevity Council, will advise how best to use innovations in technology, products and services to improve the lives of our ageing population.With the number of people aged over 65 set to nearly double to more than 20 million in under 50 years, the government’s Ageing Society...

July 1, 2019
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01Jul

India.Denied pensions for six years, nearly 200,000 senior citizens in Delhi are forced to work again

Kamru Jamaal’s life would be easier if he got the monthly pension of Rs 1,000 that New Delhi’s municipal corporations are supposed to pay their poor senior citizens. At 73, he makes a living driving a cycle-rickshaw on the streets of North Delhi’s Kingsway Camp area.“I can’t remember how long I haven’t been paid a pension,” said Jamaal, who migrated to Delhi from Bihar’s Supaul district decades ago in search of a livelihood.The money would have also allowed Ram...

July 1, 2019
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01Jul

The financial inclusion balancing act

Libra, the wildly ambitious and probably doomed Facebook-backed cryptocurrency, is innovative in many different ways. But there's one part of it that's deeply familiar — the way in which it sells itself as a way of bringing millions of people into the global financial system.The big question: Can the private sector, and technology companies in particular, bring critical financial services to those who have been excluded from the global financial system?Most fintech startups espouse two lofty goals: disrupting the banks and serving...

July 1, 2019
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01Jul

Europe’s population is aging rapidly. Here’s how to turn that into an opportunity

Ahead of this weekend's G20 summit in Japan, an elderly idol group called Obachaaan released a music video welcoming the new visitors to their city, Osaka.The energetic seniors dance and rap through the port city in the slapstick rap-style video, called "Oba Funk Osaka" -- which charmed at least one world leader."Like Japan, Singapore too has an aging population," Singaporean Prime Minister Lee Hsien Loong wrote in a Facebook post in reference to the demographic issue being on the global agenda at the G20 for...

July 1, 2019
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June 2019

28Jun

Lebanon’s retired military personnel protest over cuts in benefits

Military veterans held demonstrations Thursday by blocking roads and burning tires in several Lebanese areas to protest over the 2019 state budget which cut their pensions and retirement benefits, the National News Agency reported. Protests began at 5 a.m. in the morning and ended at 9 a.m. following a statement by the Lebanese army calling on the protesters to open roads while emphasizing their solidarity with retired military army and their rights. Meanwhile, retired military personnel issued a statement...

June 28, 2019
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28Jun

Fintech pension provider eyes US market

Workplace pension provider Smart Pension is looking to move into the US market in response to overseas interest in its retirement services. Company officials are currently taking part in a UK fintech delegation to Chicago, led by Peter Estlin, Lord Mayor of the City of London, which includes financial services companies such as Revolut and Worldpay. FTAdviser reported in April that the provider was chosen by the government to participate in a fintech bridge pilot programme in Australia. The...

June 28, 2019
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28Jun

Ukraine. Cabinet Decides To Raise Pensions To UAH 2,000 For Women With Seniority Of More Than 30 Years And Men With Seniority Of More Than 35 Years From July

The Cabinet of Ministers adopted the relevant resolution at a meeting on Wednesday, Ukrainian News Agency reports. In particular, the Cabinet of Ministers determined that from July 1, if the monthly amount of pension payments, taking into account the allowances provided by law, cash assistance, indexation and other allowances (except for pensions for special services to Ukraine) for pensioners with sufficient insurance period, does not reach UAH 2,000, so such pensioners will be paid extra to the pension in...

June 28, 2019
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