Slider Archives - Page 381 of 454 - Pension Policy International

25MayMay 25, 2018

Financially stressed workers likely to draw on retirement plans

Financial stress is taking its toll on employees, causing them to partake in rather risky money behavior: tapping into their 401(k) or other retirement savings in an attempt to get back on track. More than half of workers (54%) who identify as being financially stressed say they will likely use their retirement funds for expenses other than retirement, according to PwC’s 2018 Employee Financial Wellness Survey, out this week. That’s compared to 33% of their colleagues who say they’re not...

May 25, 2018

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24MayMay 24, 2018

Malta declines EU’s recommendation to raise retirement age

Malta's government committed on Wednesday not to raising the retirement age, which was recommended by the European Commission (EC). The European Commission has recommended that Malta safeguards the sustainability of its health care and pension systems by raising retirement age and restricting early retirement. In a press statement, Malta's government said "it is committed to retain free health care for its citizens and to continue to work towards a more sustainable pension system without changing the pensionable age". Read More: XinhuaNet

May 24, 2018

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24MayMay 24, 2018

Kenya. MCAs step up push for independent pension scheme

Members of the County Assemblies (MCAs) from all the 47 counties are pushing for the establishment of an independent pension scheme. The County Pension Bill, which has been stuck in Parliament for some time, recently underwent a second reading. The MCAs want the Bill fasttracked to enable counties move their staff from the current non-contributory arrangement to a contributory pensions administrator. “We want a pension scheme which is not managed by national government but with an independent administrator so that counties...

May 24, 2018

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24MayMay 24, 2018

Romania to maintain fiscal stimulus policy until 2020: ruling party chief

Romania’s government will maintain its policy of cutting taxes and raising the minimum wage and state pensions until 2020 in a bid to improve living standards, the leader of the ruling Social Democrats said on Wednesday. The government could also make it optional to join a private pension scheme, said Liviu Dragnea, who holds a tight grip on his party and is also speaker of parliament’s lower house. Membership of private pensions is mandatory for employees under 35 and any changes...

May 24, 2018

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23MayMay 23, 2018

Investors may be deterred by shortcomings fighting corruption – EU

Governance shortcomings in the anticorruption framework may adversely affect the business climate and weigh negatively on investment, the European Commission said on Wednesday. “The effectiveness of Malta’s efforts to fight corruption needs to be further improved, especially with regards to the investigation and prosecution of corruption,” it warned in the country specific recommendations for the 2018 European Semester. Apart from updating from various previous reports, two specific recommendations were made: - Strengthen the overall governance framework by enhancing the national supervision of...

May 23, 2018

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23MayMay 23, 2018

Nigeria. A pension scheme for informal sector operators

ARE you an architect, lawyer, actor, musician, business-man, trader, caterer, electrician, carpenter, cab driver, or a commercial motor cyclist? If yes, you will soon have an opportunity to save for your future under the Contributory Pension Scheme (CPS), courtesy of the Federal Government. How? The government through the National Pension Commission is planning to release a micro pension scheme that will enable self-employed persons and the informal sector to join the CPS. At present, the guidelines for the new scheme are being...

May 23, 2018

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22MayMay 22, 2018

US. Government money should help solve this pension crisis

For those of you who do not think about pensions on a daily basis, multiemployer plans are private sector defined-benefit plans created by collective bargaining agreements between a labor union and two or more employers. They typically exist in industries with many small employers. While the majority of multiemployer plans are returning to financial health since the financial crisis, a substantial minority — covering about one million of the 10 million participants — face serious funding problems and could run...

May 22, 2018

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22MayMay 22, 2018

Solving China’s Aging Population Problem

Why is China considering lifting its family-size limits? It may be simple math. By 2030, there will be more people age 65 and older than those 14 and younger. And there are signs its aging workforce may already be chipping into gains in productivity, with the increase in China’s output per hours worked at its lowest level since 1999. Read More: Bloomberg

May 22, 2018

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22MayMay 22, 2018

How Public Pensions Can Start Healing Themselves

Our discussion last week about representatives of the League of California Cities urging CalPERS, the state’s huge pension fund for public employees, to juice up investment returns generated a lot of interesting feedback. It is clear that public-pension funds need some help. Rather than offer specific investment recommendations, I am going to make some suggestions to help them think about what they should be considering when reviewing their own portfolios. It is important for managers and public representatives to understand what...

May 22, 2018

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21MayMay 21, 2018

Malta. The poverty of pensions – Michael Briguglio

In my article entitled ‘The pensions myopia’ (April 30) I argued that the government may be over-optimistic in its projections regarding the sustainability of state pensions in the coming years. I also proposed a national consensus on the matter in the interest of future pensioners. In this article I would like to discuss the current pensions system and the way it is affecting today’s pensioners. It is no secret that many pensioners are facing hard times in trying to make...

May 21, 2018

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May 2018