Adequacy Archives - Page 15 of 30 - Pension Policy International

29NovNovember 29, 2023

60% in the UK is risk of lower living standard in retirement due to low contributions

Research from Gresham House, the specialist sustainable investment manager, has revealed that 60 per cent of people in the UK are at risk of having a sub-standard of living in retirement due to low pension contributions. To ensure more people put aside money for retirement, the government and pension providers must highlight the benefits that contributing can have. According to Gresham House, 69 per cent of 16- to 35-year-olds said they would support their pension fund adopting a place-based impact investing approach....

November 29, 2023

NewsAdequacy, Investment, savings, UK

23NovNovember 23, 2023

The 4% Rule for Retirement Withdrawals Might Finally Be Safe to Use Again, Says Morningstar

There's been an ongoing debate about whether retirees should abandon the "4% rule" for withdrawals from retirement accounts, a retirement income rule of thumb for decades. The market volatility of recent years made that rule suspect for many new retirees, but a new study from Morningstar finds that the rule can still apply. What Is the 4% Rule? Created in 1994 by a financial planner named William Bengen, the 4% rule posits that retirees can make a well-structured retirement fund last 30 years...

November 23, 2023

NewsAdequacy, Decumulation, Pension Payout

22NovNovember 22, 2023

Average U.S. 401(k) balance down slightly in Q3 2023, up over long term: report

The average U.S. 401(k) balance decreased to $107,700 in the third quarter of 2023, down four per cent from Q2, but up by 11 per cent from a year ago, according to a new report by Fidelity Investments. Reflecting a combination of employee and employer 401(k) contributions, the total savings rate for the third quarter was 13.9 per cent, up slightly from a year ago. The average 403(b) account balance decreased to $97,200, down five per cent from last quarter,...

November 22, 2023

NewsAdequacy, savings, US

17NovNovember 17, 2023

Bulgaria Boosts Minimum Pension to BGN 580

A significant shift in Bulgaria's pension landscape is on the horizon, as the minimum pension for service and age is slated to surge by 11% under the Swiss rule, reaching BGN 580 starting July 1, 2024. Alongside this increase, widow's supplements are also expected to see a rise, as per insights from "Sega." Effective January 1, there's an uptick in the maximum insurance income to BGN 3,750, marking a nearly 10% rise. However, the pension ceiling remains unchanged, capped at...

November 17, 2023

NewsAdequacy, Bulgaria, Income

27OctOctober 27, 2023

Allianz Pension Report Latam special 2022

By Allianz Research Even before the pandemic, the pension systems of most Latin American countries ranked in the bottom third in international comparison of their long-term adequacy and sustainability in our last Global Pension Report. The Covid-19 pandemic has been a double blow with respect to pension systems’ adequacy: On the one hand, rocketing unemployment rates diminished the share of the labor force in formal employment that is covered by pension schemes; on the other hand, lower contributions to pension...

October 27, 2023

Books, Books, Reports, System Characterization2022, Adequacy, Coverage, Latin America, System sustainability

20OctOctober 20, 2023

Mercer CFA Institute Global Pension Index 2023

By CFA Institute & Monash University The Mercer CFA Institute Global Pension Index benchmarks 47 retirement income systems around the world, highlighting challenges and opportunities within each. Botswana, Croatia and Kazakhstan were added to the mix this year. We also used updated data from the OECD and added some new questions to the integrity sub-index. The Index is made up of three sub-indices, including adequacy, sustainability and integrity, to measure each retirement income system against more than 50 indicators. Each year...

October 20, 2023

Books, Books, Reports, System Characterization2023, Adequacy, Sustainability

02OctOctober 2, 2023

UK. Concerns over self-employed pension adequacy persist

Self-employed workers could boost their retirement resilience by paying into their partner's pension, Hargreaves Lansdown has said, after its analysis raised concerns over the current level of pension saving amongst the self-employed. According to the latest data from the Hargreaves Lansdown Savings and Resilience Barometer, self-employed led households scored 53/100 for their financial resilience compared to 67/100 among employee-led households. However, the firm clarified that the picture is "a bit more nuanced than this", as households where the self-employed worker is...

October 2, 2023

NewsAdequacy, Informal Sector, savings, UK

28SepSeptember 28, 2023

Striking US auto workers want their pensions back, apart from higher wages

On picket lines around the country, auto workers aren’t just demanding higher wages. They want to get back their once-sacred retirement pensions. While United Auto Workers (UAW) members who were hired prior to the 2008 financial crisis have pensions, those brought on since have received 401(k) plans instead. The union is demanding the auto companies provide pensions for new employees and those who currently lack them. “We need to do something, because right now, if you came in after '07, you...

September 28, 2023

NewsAdequacy, Risk, US

28SepSeptember 28, 2023

Longevity Risk: Retirees and Pre-Retirees Fear Declining Finances and Deteriorating Health in Older Age

Fewer than one in four age 50+ workers and retirees are very confident they will be able to maintain a comfortable lifestyle throughout their retirement (17%, 23%, respectively), according to Life in Retirement: Pre-Retiree Expectations and Retiree Realities, a new survey report released by nonprofit Transamerica Center for Retirement Studies® (TCRS) in collaboration with Transamerica Institute®. "Retirement brings freedom and time for pursuing personal passions. Our research finds that retirees are happy, purposeful, and have a positive view of aging. However, many...

September 28, 2023

NewsAdequacy, Income, Longevity

28SepSeptember 28, 2023

Experts urge social protection for gig workers amidst growing digital economy

The rise of gig work makes it important that workers be given social protection since they may not have access to pensions, health insurance or unemployment benefits. Till the world comes up with a perfect definition for gig work, experts at the Asia-Pacific Social Protection Week organised by the Asian Development Bank (ADB), between September 26-28 in Manila, Philippines, were of the opinion that it would do well to take care of gig workers. Not only it is the smart...

September 28, 2023

NewsAdequacy, Informal Sector, Pension design, Public Policy

November 2023

60% in the UK is risk of lower living standard in retirement due to low contributions

The 4% Rule for Retirement Withdrawals Might Finally Be Safe to Use Again, Says Morningstar

Average U.S. 401(k) balance down slightly in Q3 2023, up over long term: report

Bulgaria Boosts Minimum Pension to BGN 580

October 2023

Allianz Pension Report Latam special 2022

Mercer CFA Institute Global Pension Index 2023

UK. Concerns over self-employed pension adequacy persist

September 2023

Striking US auto workers want their pensions back, apart from higher wages

Longevity Risk: Retirees and Pre-Retirees Fear Declining Finances and Deteriorating Health in Older Age

Experts urge social protection for gig workers amidst growing digital economy