Rogue bosses who risk workers’ pensions face being jailed for up to two years under plans to criminalise unscrupulous business activities. Theresa May said a new package of measures would help protect staff by cracking down on the “irresponsible few” at the top of companies. It comes after the collapse of BHS in 2016 with a £571 million deficit in its pot for 19,000 pension holders. Read More: Daily Mail
Retired City Hall employees risk losing their pension dues amounting to Sh13 billion. This follows failure by the Nairobi county government to remit contributions to the fund manager. Local Authorities Pensions Trust (Laptrust) retirement scheme, which manages City Hall’s pensions scheme, says the county has not remitted pension deductions since 2013. It estimates the debt to be about Sh13 billion. Laptrust, which also manages pension schemes for workers of other county governments in the country, has threatened to take over prime...
The 401(k) plan market is undergoing a technology makeover, as fintechs offer providers new tools to lower the cost of the plans and boost profits. With the fiduciary rule adding additional scrutiny to employer plans, traditional providers are under increased pressure to find the best and cheapest vehicles for clients. Startups like Newark, New Jersey-based Dream Forward claim their advisor tech will help lower administration costs and keep retirement plans profitable. “Fees are going to come down overtime,” says Dream Forward...
The Croatian Government will launch a comprehensive pension reform in the second quarter of this year as part of which it will upgrade all three pension insurance pillars in cooperation with the social partners, academic community and interested public, the state secretary at the Ministry of Labour and Pension System Majda Buríc said in Parliament on Wednesday. Read More: Total Croatia News
France's elderly population will march through the streets in towns and cities across the country on Thursday in anger at a move by the government they claim is hitting them hard in the pocket. Pensioners were the main losers of President Emmanuel Macron's first budget mainly due to the 1.7 percentage point hike in the CSG social charge - a levy deducted from salaries and pensions that goes towards paying for France's social security system. Only those with an income of...
The new value of the pension index, according to the regulation, is 1.076. This means an increase of 7.6 percent on average in pensions and the daily rate of the work ability allowance. The annual reindexation of penions is to cost the government approximately €97.6 million this year. Following the increase, the old-age pension of an individual with 44 years of pensionable service will increase from €415.6 to €446.50, spokespeople for the government said. Read More: ERR
Representatives of Czech employers and unions agreed with the cabinet's plan to raise pensions as of 2019 in the talks with government officials on Wednesday, Confederation of Industry head Jaroslav Hanak and CMKOS umbrella union head Josef Stredula said after the Tripartite meeting. At the same time, however, the employers and unions want the government to secure sustainability of the pensions financing in the following years. The task of the Tripartite body, which brings together representatives of the government, trade unions...
For those worried about the ability of U.S. state and local governments to cover promised pension checks, the Census Bureau announced a milestone that should add to their fears: by 2030, for the first time, senior citizens will outnumber children. In 12 years, about one in five Americans will be of retirement age, and by 2035, those 65 and older will outnumber those under 18 by about 2 million, according to the latest estimates released by the agency. The consequences...
Members of staff at universities across the country have been striking in protest at changes to the Universities Superannuation Scheme (USS). University staff who have been on strike across the United Kingdom for 10 days have expressed their dissatisfaction with a deal between employers and union bosses in a bitter dispute over pensions. However, a meeting of union officials from branches nationwide resigned itself to reject the deal on the table, amid strong opposition from its members. Read More: GK Men
The President of government, Mariano Rajoy, has advanced in plenary of Congress that will raise lower pensions and concentrate income tax for pensioners and families, as well as an improvement in minimum pensions and widowhood. It will in budgets of 2018, thus passing ball to opposition to imply it in approval of budgets, an objective that is not guaranteed by two principal supports of Government: citizens and PNV. But Rajoy has made his red lines clear: He will not touch...
