March 2022
23Mar

Chile plans to reform controversial pension program next year

The Chilean government will send a long-awaited bill to reform the country's controversial private pension system to congress next year, Finance Minister Mario Marcel said on Tuesday. Read also US. How to Improve Retirement Readiness in Under-represented Groups Reforming the current system, Pension Fund Administrators (AFP), was one of the biggest demands demonstrators had during the 2019 protests. One of the biggest complaints against the system is its low-paying pensions. Leftist President Gabriel Boric proposed eliminating the private system in favor of...

March 23, 2022
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23Mar

Affordable childcare the key to boosting women’s retirement savings

More affordable early childhood education and care could help boost the superannuation of Australian women, who are currently retiring with one third less super than men. According to a new report from Industry Super Australia, increasing the child care subsidy for low- and middle-income families to 95 per cent and flattening taper rates, could see a woman on the median wage, if she moved from part-time to full-time work, retire with an extra $118,000. Industry Super Australia says improving women’s workforce...

March 23, 2022
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23Mar

Australia. Five Million Pensioners And Jobseekers To Receive An Increase On Payments

Five million Australians will benefit from the largest increase in social security payments since 2013. Centrelink adjusts the maximum pension payment twice a year – in both March and September, to ensure payments to those in need are at the standard of rising costs. From 20 March 2022, the new increase will see a 2.1 percent raise for those on the Age Pension, Disability Support Pension and Carer Pension, resulting in a $20.10 boost per fortnight for singles and $30.20 a...

March 23, 2022
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23Mar

How society aging threatens climate action

People 60 and older are responsible for a large and increasing share of greenhouse gas emissions in wealthy countries, according to a new study. This is due not just to the increasing numbers of people in this age group but to their lifestyles as well, hinting that aging populations may pose a challenge to climate action. Longer lifespans and declining birth rates in wealthy countries mean their populations are getting older. The share of the population aged 65 and older...

March 23, 2022
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SEC proposes climate-related disclosures for public companies
22Mar

US. SEC proposes climate-related disclosures for public companies

The Securities and Exchange Commission on Monday proposed rule amendments to require public companies to disclose climate-related risks and greenhouse gas emissions. The commission approved the rule amendments in a 3-1 vote, with its lone Republican, Hester M. Peirce, dissenting. Under the proposal, public companies would be required to disclose a host of climate-related information in their registration statements and periodic reports, including: The oversight and governance of climate-related risks by the registrant's board and management. How any climate-related risks identified...

March 22, 2022
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Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT
22Mar

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT

The management of the Social Security and National Insurance Trust (SSNIT) has met with stakeholders to find ways to expand and deepen the coverage of the basic national social security scheme for the self-employed. Read also President Sisi approves 13% increase in pensions: Egypt’s PM This is because 10 million informal workers in the country are not covered by any social security. During a speech at the event, the Minister of Employment and Labor, Ignatius Baffour Awuah, praised the SSNIT leadership for...

March 22, 2022
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UK. Pension schemes to tackle deforestation in climate push
22Mar

UK. Pension schemes to tackle deforestation in climate push

Pension schemes in the UK will be expected to do more to tackle deforestation as part of the government’s climate policies, pensions minister Guy Opperman has warned. Writing in Responsible Investor with Lord Goldsmith, minister for the Pacific and the international environment, Opperman said that because “forests and land use are a significant source of carbon emissions”, any action on climate change “will need to take deforestation into account”. “During our COP26 presidency, we are putting forests front and centre of...

March 22, 2022
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President Sisi approves 13% increase in pensions: Egypt’s PM
22Mar

President Sisi approves 13% increase in pensions: Egypt’s PM

President Abdel Fattah El-Sisi approved a 13-percent increase in pensions, said Egyptian Prime Minister Moustafa Madbouli in a press conference on Monday, adding that the increase would be applied next April rather than July, at an additional cost of LE 8 billion. The conference was held after a number of decisions taken by the Central Bank of Egypt regarding the rates of interest and exchange to mitigate the global economic repercussions of the ongoing Ukraine-Russia military escalation. The Prime Minister said...

March 22, 2022
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New European pensions saving regime takes effect this week
21Mar

New European pensions saving regime takes effect this week

EU legislation which gives effect to a new European pensions savings regime is being introduced this week The Pan-European Personal Pension (PEPP) is a voluntary retirement savings option for EU citizens that complements existing pension schemes. It allows people to pay into the same scheme throughout the EU, even if they move countries. Read also China: National Pension Insurance Co receives green light to start operations Rachel McGovern, director of financial services at Brokers Ireland, which represents 1,225 brokers, says pension providers...

March 21, 2022
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21Mar

UK. ‘Pensioner poverty’ alarm as older people raid pension pots

Older people face the prospect of “pensioner poverty” due to the rising cost of living and the falling value of the stock market, it has been claimed. Figures from online investment platform Interactive Investor show its customers withdrew a quarter more from their private pensions in January as the cost of energy, food and petrol went up. The figures have prompted concern that pensioners will not have enough money to see them through retirement. In January, the average withdrawal from an Interactive...

March 21, 2022
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