May 2020
11May

Algeria approves 2-7% increase in retirement pensions

Algeria’s government has approved increases in retirement pensions ranging from 2% to 7%, the labour ministry said on Saturday, despite financial problems facing the oil exporting North African country. The OPEC member’s public finances have come under pressure after a sharp fall in global crude oil prices caused energy earnings, the main source of government revenue, to drop significantly. President Abdelmadjid Tennoune has already announced a 50% cut in public spending and delays to planned projects in several sectors...

May 11, 2020
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February 2020

20Feb

Australia. Jobs drought for older workers increases risk of ‘pension poverty’

Older Australians are missing out on job opportunities and seeing their hopes for a secure and dignified retirement evaporate, Labor leader Anthony Albanese said. “Today, over 170,000 Australians aged between 55 and 64 are on unemployment benefits just when they should be building their nest egg,” Mr Albanese told the Queensland Media Club on Wednesday. Australian Bureau of Statistics (ABS) figures show that the number of older Australians out of work has increased over the past five years, despite...

February 20, 2020
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15Feb

Target Date Funds and Portfolio Choice in 401(k) Plans

By Olivia S. Mitchell, Stephen P. Utkus Target date funds in corporate retirement plans grew from $5B in 2000 to $734B in 2018, partly because federal regulation sanctioned these as default investments in automatic enrollment plans. We show that adopters delegated pension investment decisions to fund managers selected by plan sponsors. Including these funds in retirement saving menus raised equity shares, boosted bond exposures, curtailed cash/company stock holdings, and reduced idiosyncratic risk. The adoption of low-cost target date funds...

February 15, 2020
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01Feb

Measuring the ethnicity pensions gap

By The people´s pension Last year The People’s Pension examined in detail the drivers of the yawning gap in pension income between women and men, as the first part of a series examining the UK’s ‘under-pensioned’. Our second report focuses on another dramatically underpensioned group: ethnic minorities. New calculations by The People’s Pension reveal that the UK’s overall ethnicity pension gap – the percentage difference in pension income for pensioners who belong to an ethnic minority group compared to pensioners...

February 1, 2020
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January 2020

29Jan

Japan. Wanted: rational pension reform

The government is required by law to examine the long-term financial health of Japan’s public pension system every five years. In the latest review released last August, it was confirmed that in most of the scenarios considered, the income substitution rate — the ratio of pension payouts to the after-tax income of the working generation — will be maintained at 50 percent or more. Read also The 7 biggest fintech trends to watch in 2020 This means that retirees will...

January 29, 2020
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15Jan

Spanish Government Gives Green Light To 0.9% Pension Increase

The first ministers cabinet meeting in Spain on Tuesday approved the rise in pensions by 0.9%. The increase will be applied retroactively from January 1 and will affect and will affect more than 10 million Spaniards, both contributory and non-contributory and passive class pensions. Read Also United Arab Emirates: The Introduction Of The DIFC Employee Workplace Savings Plan And Other Qualifying Schemes The 0.9% rise coincides with the average CPI estimate. If prices rise above that figure, the Government will compensate...

January 15, 2020
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09Jan

The World’s Best Places to Retire in 2020

“Where should I retire?” This is the question we hear most often at International Living, and every January we give you our most definitive answer in the form of our Annual Global Retirement Index. When it was first conceived, our Retirement Index was our special way of coping with an embarrassment of riches. At that stage, IL had already spent over a decade exploring all manner of dream locales. The result was a huge and exciting variety of choice and opportunity. Fast-forward to...

January 9, 2020
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08Jan

India. Bank retirees demand basic pension update

Finance Ministry urged to improve family pension too The All Kerala Bank Retirees Forum has urged the Ministry of Finance to update basic pension and substantially increase family pension in accordance with the Bank Employees Pension Regulation. Whenever a demand for updating pension and improving family pension was raised , the Indian Banks’ Association (IBA) and the Ministry of Finance argued that any tilt in the pension scheme would adversely affect the pension corpus fund. However, figures collected relating to retirements from...

January 8, 2020
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December 2019

13Dec

Economist: The system is ‘flawed’ when most Americans have little or no retirement savings

It’s no secret that Americans are falling short when it comes to saving enough for retirement. But as a new report shows, many are disastrously unprepared — and that may point to flaws in the system. Progressive think tank the Economic Policy Institute found that Americans 56 to 61 had a median balance of $21,000 in their 401(k) accounts in 2016, which is the most up-to-date data on file. That total reflects almost 30 years of savings. Younger generations do not fare much...

December 13, 2019
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04Dec

Saving Nigerian pensioners from untold hardships

In Nigeria of today, working in the civil service is quite interesting, but that only lasts for the 35 years of active working. Once that lapses, the next phase comes with huge sufferings for most people. Pensioners are the least on priorities, from state to the federal government. It’s a series of untold hardships, right from the point of retiring. Getting the gratuity and regular pensions have always been complex. And the unfortunate thing is that, this trend has...

December 4, 2019
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