One in four people approaching retirement in the UK are unaware that they have to pay tax on pension savings if they take more than 25% out as cash, a survey has found. It was also found that one in five over-55s would be “shocked” if they were forced to pay tax on their pension savings. Of those that believe they can get some or all of their pension pot tax-free, more than a third think they won’t pay any tax...
A first supplementary occupational pension fund (FRPS) has just been created in France. Aviva France has obtained the approval of the French Prudential Supervisory Authority (ACPR) to create a FRPS. According to a decision published on Tuesday in the "Official Journal", the insurer will be able to transfer into this new entity called "Aviva Retirement Professional" pension portfolios. Sometimes presented in a rather swift way like "pension funds à la française", the FRPS - wanted by Emmanuel Macron when he...
According to a new study, 37% of pension schemes are currently enjoying a funding surplus. At the same time, however, a similar number are yet to agree on a long-term target for their funds, suggesting they could be doing more to capitalise on their current momentum. In recent years challenging market conditions and an ageing population have seen some schemes run increasingly large deficits. However, in 2018, reporting into the segment has found that most pension schemes are relatively well-positioned...
The Cabinet Division of the government with support from the United Nations Development Programme (UNDP) and Australian Aid, launched the National Social Security Strategy (NSSS) Action Plan on Sunday. The action plan was launched at the national conference on Social Security Programme held at Bangabandhu International Conference Centre (BICC). The launching event was followed by a three-day a Social Security fair on social protection where recent issues and achievements of different social protection implementing agencies of the government and NGOs are...
For too long, women have been denied the retirement they deserve. Today we launch a campaign to end this injustice When Susan Way celebrates her 65th birthday on Tuesday, she will become a pioneer of sorts: she will qualify for her state pension at the same time as a man born on the same day as her. The state pension age for women and men will be equalised for the first time since 1940, and from Tuesday it will increase...
A key question for business owners is how to ensure continued innovation and growth at a time of increased regulation of digital platforms. Digital platforms are among the most important drivers of the digital economy, so much so that we’re now seeing the digital economy being referred to as the “platform economy." Services such as Amazon and Uber have integrated deeply into the everyday lives of the average consumer. Their conveniences are no longer questioned; their names have become verbs. But...
The government has been urged to introduce an additional rate of pension, on top of the single-tier state pension, for unemployed people looking after a child under 12. Workers union Prospect called for this measure among five other solutions proposed in its 13-page report Tackling the gender pay gap, published today (1 November). The current state pension system allows people looking after a child under the age of 12 and not working to receive credits to ensure there is no gap...
Get ready to save more for retirement in 2019! The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2019, and there are a lot of changes that will help savers stuff these accounts. After six years stuck at $5,500, the amount you can contribute to an Individual Retirement Account is being bumped up to $6,000 for 2019. The amount you can contribute to your 401(k) or similar workplace retirement plan goes up from $18,500 in 2018 to...
A question often asked by individuals new to sustainable and responsible investing is: "My priority is a secure pension pot for retirement, so why should I care about sustainability and climate change?" And while the answer is nuanced, fundamentally it is: because you will have a bigger retirement pot by doing so. Mounting evidence shows this to be the case and it is a key reason why the Department for Work and Pensions recently laid new regulations that will require pension...
A study says steps like introducing minimum level of support for the poor can lead to increase in India’s index value The pension and retirement income system in India has figured in the lowest category in the world, according to the Melbourne Mercer Global Pension Index 2018, published by Mercer, a human resources consulting firm, along with Australian Centre for Financial Studies and Monash University. The other countries in this category along with India are Japan, South Korea, China, Mexico and...
