Slider Archives - Page 396 of 454 - Pension Policy International

14MarMarch 14, 2018

Macedonian government struggles to fill pensions black hole

Macedonia’s cash-strapped pension system needs thorough reforms as the financial hole in the state pension fund has been constantly rising over the years, reaching 4.5% of the country’s GDP. The state-run Pension and Disability Insurance Fund (PIOM) is now in critical financial condition, mainly due to the populist measures taken by the previous government of the conservative VMRO-DPMNE party, which lowered contributions and constantly hiked pensions to secure the support of older Macedonians. VMRO was eventually forced out of power following...

March 14, 2018

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13MarMarch 13, 2018

Here’s how many Americans don’t have access to a 401(k) plan

401(k)s are an especially important retirement tool given that pensions are on the decline and Social Security "could be insolvent by 2034," and because an alarming number of Americans have little to nothing saved for retirement individually: A recent study by GOBankingRates found that 42 percent have less than $10,000 socked away. Even President Trump, during his State of the Union, touted the success and importance of 401(k)s. But he neglected to mention that "most workers don't have one yet." Indeed,...

March 13, 2018

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13MarMarch 13, 2018

Chad: Retirees living under dire conditions, lament delay in pension payment

At the headquarters of the Pensions Authority in the Republic of Chad, pensioners have arrived on a very simple mission. These senior citizens are going through a list of names which captures the identity of beneficiaries of the last quarter of 2017 coupons. If they find their name, it is a miracle they say, as beneficiaries lament their pension funds are often slow in coming. Since January, the government began paying for the last quarter of 2017,meaning beneficiaries are uncertain about...

March 13, 2018

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UK. Striking university staff irate over pensions deal

Strikes at UK universities are to continue after staff overwhelmingly rejected a revised offer on their pensions. The University and College Union was forced to throw out the deal it had negotiated with university employers after members voted against it. The union will now draw up detailed plans aimed at disrupting summer examinations in an escalation of the industrial action, which is now in its fourth week. The deal, which had been reached on Monday night after six days of talks...

March 13, 2018

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12MarMarch 12, 2018

Government invests £300m to address ageing society challenge

The Government is investing £300m from its industrial strategy challenge fund to help prepare for 'the challenge of an ageing society'. The funding will support better diagnosis for UK patients through artificial intelligence and technology at new regional centres, while 500,000 volunteers will have their genome sequenced to help develop early diagnosis and treatments. The grants also include an extra £40m for a new dementia research institute. Read More: Local Gov UK

March 12, 2018

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12MarMarch 12, 2018

Dumped Tahiti pension reform still priority – Fritch

French Polynesia's president Edouard Fritch says if he wins this year's election he will make the pension reform the priority of priorities. Mr Fritch made the comment after withdrawing the reform plan following a general strike during which demonstrators forced their way into the assembly. His government planned to raise the retirement age from 60 to 62, saying failure to make the change would bankrupt the system in a couple of years. Read More: Radio NZ

March 12, 2018

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12MarMarch 12, 2018

Mexican state pension fund spent millions on failing builder – sources

Mexico’s state workers’ pension fund plowed more than $20 million into ICA (ICA.MX) and became the largest shareholder as the builder spiraled toward insolvency, according to people familiar with the matter, with the fund’s investment set to be wiped out in a restructuring. PensionIssste, which manages about 195 billion pesos ($10.5 billion) of mostly government workers’ retirement money, became the largest shareholder in ICA, with a stake of almost 10 percent, said three people with knowledge of the investment who...

March 12, 2018

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09MarMarch 9, 2018

EU and asset managers clash over ‘sustainable’ investing plan

The European Union has proposed making it a formal requirement for asset managers to consider “sustainability” when picking investments, a move the EU’s 23 trillion euro ($28.5 trillion) funds industry swiftly dismissed as a “tick-the-box” exercise. The EU wants more money going into sustainable and “green” projects that help cut greenhouse gas emissions, as part of a wider “capital markets union” project to expand funding from financial markets for companies and growth. In an “action plan” published on Thursday, the European...

March 9, 2018

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09MarMarch 9, 2018

French Polynesia pension march attracts thousands

As part of a general strike launched by a union umbrella group two days ago, marchers this morning converged on the centre of Papeete from three directions. Police said about 4500 people took part while the union says 10,000 people marched. The government wants the assembly to adopt the reform to hike the retirement age from 60 to 62 during this afternoon's sitting of the assembly. The government said it had no option but to change pension eligibility criteria to secure the...

March 9, 2018

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09MarMarch 9, 2018

UK retirement bill up more than £1 trillion in five years as pension crisis escalates

The UK’s pension funding crisis reached a new milestone this week as the Office for National Statistics revealed that liabilities rose to £7.6 trillion at the end of 2015. The figure, which is the total amount promised to pay for Britons’ future retirement income, includes £5.3 trillion of pension entitlements that were the responsibility of central and local government, most of which – about £4 trillion – came from State Pension entitlements. The remaining £2.3 trillion were private sector employee pension...

March 9, 2018

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March 2018