August 2023
22Aug

South Africa. Women struggle to retire as early or as securely as men

Longevity literacy is critical to help women live confidently and securely when it comes to their wind-down years. South Africa’s gender pension gap sits at 26%, reflecting the average difference in retirement income between men and women. Farzana Botha, segment manager at Sanlam Risk and Savings, said that often, women cannot afford to retire as early or as comfortably as men. She believes that turning this around should be a national imperative. Botha said: “A multitude of factors contribute to...

August 22, 2023
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July 2023
19Jul

Pensions, 54% of Italians fear that they are insufficient to live on. Private savings are essential

«I can’t wait to retire!..» How many times, and how many people, have they thought about saying “goodbye” to work, daily routine, stress and fatigue? If the moment of leaving the labor market is seen as a real liberation, in Italy there are those who think that it could become a far worse condemnation than meetings, phone calls, computers and shifts. Because on closer inspection the majority of men and women “in career” believe that they do not have,...

July 19, 2023
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06Jul

Canada. Reducing barriers to lifetime retirement income

Planning and saving for retirement is too hard for most Canadians. Seventy percent of Canadians are worried they aren’t saving enough for retirement, and 62% are concerned they will outlive their retirement savings. Unlike in our working years when the goal is to accumulate funds to maintain a quality standard of living in retirement, the later phases of life when those savings are steadily drawn down can expose overlooked risks and misconceptions about budgeting in retirement. Part of the challenge is that...

July 6, 2023
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03Jul

UK. ‘It’s exhausting but I think I’m going to have to keep working’: the over-65s who can’t afford to retire

Dee, 67, who lives in Accrington in Lancashire, left school at 14. She worked in factories, hairdressing shops and bars, and did secretarial temp work all over the country before she took a job at HM Revenue and Customs, where she worked full-time for 23 years. Last year, in May, she began her retirement, but after only a few weeks she realised that she could not afford it because of the rising cost of living. “I had two months off,...

July 3, 2023
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June 2023
28Jun

India. Balancing Old and New Pension Systems: Neglected Pensioners and PFRDA’s Role

The ongoing debate surrounding the Old Pension Scheme (OPS) and the New Pension System (NPS) must not overlook the most affected group – the pensioners. While political parties, economists, and think tanks engage in discussions about the advantages and risks of each system, elderly individuals relying on these pensions continue to be forgotten. The OPS has a long history dating back to British Colonial Rule in India, initially introduced in 1881. It has evolved over the years, extending its coverage...

June 28, 2023
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22Jun

Over 80% of South Africans plan to work past retirement due to insufficient savings: Survey

About 89% of those who participated in the FNB Retirement Insight Survey plan to continue working past retirement age due to a lack of sufficient retirement savings. The survey, which focused on pre-retirement and post-retirement periods, also revealed that the majority of low-income earners are not confident that the retirement plans they have will deliver results due to financial constraints and age. It has also been discovered that about 39% of respondents who don’t currently have a retirement plan in place...

June 22, 2023
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21Jun

US. 8 Best Retirement Destinations for LGBTQ Seniors

Choosing the best place to retire can be a difficult decision. Not only do you have to consider cost of living, accessibility to health care, proximity to family and more, but if you hope to settle into a community of like-minded retirees – say the LGBTQ senior community – it can be even more difficult to find a place that checks all your boxes. As an LGBTQ senior, inclusivity and community amenities are equally important as factors like cost, so...

June 21, 2023
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20Jun

5 Better Ways for States to Promote Retirement Savings

Nobody plans to be broke when they retire, but American culture promotes consumption over thrift, and saving for retirement is particularly difficult for low-income workers. With Social Security so deeply underfunded that skinnier benefits and heftier taxes seem likely in the coming decade, the reluctance of many workers to save for their retirement is a mounting challenge that many states are taking upon themselves by prodding private-sector employers to provide retirement savings plans. But as it’s said about leading a...

June 20, 2023
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09Jun

Projections of the Size and Composition of the U.S. Population: 2014 to 2060

By Sandra L. Colby & Jennifer M. Ortman  Between 2014 and 2060, the U.S. population is projected to increase from 319 million to 417 million, reaching 400 million in 2051. The U.S. population is projected to grow more slowly in future decades than in the recent past, as these projections assume that fertility rates will continue to decline and that there will be a modest decline in the overall rate of net international migration. By 2030, one in five Americans...

June 9, 2023
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May 2023
26May

Australia. Rising retirement costs outpace inflation

According to the Association of Superannuation Funds of Australia (ASFA), the annual budget for a comfortable retirement is a record $70,482 for a couple aged 65 and $50,004 for a single. It says a “modest” retirement costs $45,808 for a couple and $31,785 for singles – which can be largely covered by the age pension. Retirees continue to face significant upward pressure on their household budgets with the cost increase reporting higher than Australia’s CPI inflation, which rose 7% for the...

May 26, 2023
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