Slider Archives - Page 48 of 454 - Pension Policy International

28SepSeptember 28, 2021

How to fix the gender pension gap

By Azka Ali, David Knox, Yvonne Sonsino The gender pension gap is a problem in most retirement income systems around the world. The causes and compounding effects are related to employment and pension design as well as socio-cultural issues. These issues need fixing at a multi-stakeholder level by HR and pension leaders, governments and women themselves. The gender pension gap exists in virtually every retirement income system around the world. The range is remarkable, with Japan having an almost 50%...

September 28, 2021

News, OP Ed, SliderEquality, Gender Gap

28SepSeptember 28, 2021

U.K. regulators propose to expand access to illiquid investments

U.K. financial regulators issued recommendations Monday aimed at making it easier for defined contribution plan participants to invest in less-liquid assets. The productive finance working group's report, A Roadmap for Increasing Productive Finance Investment, made four recommendations with specific actions for both the industry and government. The group includes officials with the Bank of England, the Financial Conduct Authority and the Treasury. The recommendations include encouraging plan trustees to consider less-liquid assets; increasing scale by continuing to consolidate smaller plans; building...

September 28, 2021

News, Slider

28SepSeptember 28, 2021

Puerto Rico Board Agrees to Pension Changes If New Bonds Granted

By Michelle Kaske Puerto Rico’s financial oversight board said it will sign off on island lawmakers’ proposed changes to pensions if officials approve a plan to sell new bonds, a move that could enable the commonwealth to end its record bankruptcy. The panel will agree to raising its proposed $1,500 minimum pension payment to $2,000 and allowing the commonwealth to make up for any of the proposed pension reductions by allocating revenues to retirees in future budgets, the board said in...

September 28, 2021

News, OP Ed, SliderPension Reform, Puerto Rico

27SepSeptember 27, 2021

US. Hidden In The Reconciliation Bill: A Retirement Plan Mandate That Will Take Most People By Surprise

By Elizabeth Bauer Readers, I am embarrassed to admit that a radical change to our retirement system, tucked into the “Build Back Better” Budget Reconciliation bill, wholly escaped my notice until just recently. As explained by Ashlea Ebeling, also at Forbes, “Under the proposal, starting in 2023, employers with five or more employees would have to offer a retirement plan and automatically enroll employees, diverting 6% of their pay to a retirement account. An automatic escalation clause would increase the automatic...

September 27, 2021

News, OP Ed, Slider2021, Pension design, Regulation, US

27SepSeptember 27, 2021

Jamaica. The nation is facing a retirement crisis

A social pension is a non-contributory cash income that is given by the Government to the elderly. In July of this year, the Jamaican Government launched an $800,000,000 social pension geared at providing guaranteed income to senior citizens 75 years and older who don't have retirement income or disability benefits. Recipients are entitled to a monthly payout of $3,400. But, can this paltry sum suffice in an economy of rising prices? The nation is indeed facing a retirement crisis. With...

September 27, 2021

News, Slider2021, Intergenerational Justice, Jamaica, Public Pensions, Retirement Age

27SepSeptember 27, 2021

UK. The trillions in our pension pots could be key to tackling the climate crisis

By Richard Curtis Someone said something really striking to me the other day – that weather used to be the last thing on the news, but now it’s the first. And it’s not good news. Fire, floods, drought – climate change in terrible and obvious action. It made me think of something I’ve been increasingly obsessed by – unexpectedly – which is pensions. Pensions used to be the last thing on our minds, certainly not something to talk about at...

September 27, 2021

News, OP Ed, Slider2021, Climate crisis, ESG, UK

27SepSeptember 27, 2021

Ghana. Cocoa farmers pension scheme takes off October 2021

The Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has announced that the much-anticipated cocoa farmers pension scheme will start in October 2021 for cocoa farmers in Ghana. He said that the scheme, once fully operational, would help farmers enjoy a decent retirement benefit after years of active farming, adding, “This adds to the several fantastic strides this government hopes to leave behind.” Mr Boahen Aidoo made this announcement at the signing ceremony of a $1.5 billion...

September 27, 2021

News, Slider2021, Ghana, Informal Sector, Occupational Pensions

24SepSeptember 24, 2021

US. Stock Market Helps State Pension Debt Hit 10-Year Low, But Crisis Still Looms Large

Thanks to historic investment returns over the last year, state public pension plans are in their best shape since the Great Recession. After state pension debt grew to more than $1.4 trillion last year, two new reports estimate that gap between the total amount states have promised to retirees and what they’ve actually set aside in their pension investment funds will shrink dramatically. A recent analysis by the Pew Charitable Trusts says the gap could dip below $1 trillion this...

September 24, 2021

News, Slider2021, COVID-19, Funding, State Pensions, US

24SepSeptember 24, 2021

Uber to pay pensions to all its UK drivers, backdated to 2017

Uber is to pay out millions of pounds in missed pension payments to UK drivers dating back as far as 2017 under a deal with the retirement savings watchdog. The ride hailing company was forced to guarantee its 70,000 UK drivers a minimum hourly wage, holiday pay and pensions in March this year after a landmark supreme court ruling over their employment status. Couriers for the group’s UberEats food delivery service are not included in the deal. On Friday, Uber said...

September 24, 2021

News, Slider2021, Coverage, Pension Management, UK

24SepSeptember 24, 2021

Zimbabwe: Nssa to Increase Pension Payouts

National Social Security Authority (NSAA) is set to review pension payouts by between 25 and 30 percent with effect from October 1, 2021, in line with the roadmap of periodic reviews announced by Public Service, Labour and Social Welfare Minister Professor Paul Mavima. The minister made the pledge to periodically review payouts during engagements with pensioners' representatives in the first half of the year. Pensioners under the Pension and Other Benefits Scheme (POBS), had their pay-outs reviewed by 30 percent, subject...

September 24, 2021

News, Slider2021, Public Pensions, Zimbabwe

September 2021