May 2025
16May

Seven out of 10 Kenyans struggle financially after retirement- CEO RBA

According to CEO Retirement Benefits Authority (RBA), Charles Mathira, seven out of 10 Kenyans are struggling after retirement because of lack of a savings plan to cushion them. Mathira noted that according to their statistics most Kenyans do not subscribe to any retirement benefits scheme and as of last year December, only 26% of workers had been saving for retirement and they are targeting it to reach 34% by 2029 through various sensitizations. In a speech read on his behalf by...

May 16, 2025
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02May

UK. Nearly nine million savers remain ‘significantly underpensioned’

Nearly nine million savers in the UK remain "significantly underpensioned" compared to the broader population, with research from Now Pensions revealing that private pension incomes for under-pensioned groups are around 43 per cent to 80 per cent of the population average. The report, produced in partnership with the Pensions Policy Institute (PPI), showed that while progress has been made in some areas, such as rising eligibility for auto enrolment, the underpensioned challenge is far from resolved. Indeed, the report showed that...

May 2, 2025
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April 2025
30Apr

96% of Ghanaian pensioners live on GH¢5,000 or less monthly – Paul Kofi Mante

At the 2025 edition of the Money Summit organized by the Business and Financial Times (B&FT), Paul Kofi Mante, Managing Director of EDC Investment Limited, raised urgent concerns about the state of pensions in Ghana, revealing that a staggering 96% of pensioners receive GH¢5,000 or less per month. Speaking as a panelist during a session focused on investment and retirement planning, Mr. Mante described the current pension reality as deeply worrying. He disclosed that out of the over 2 million Ghanaians aged 60 and above, fewer than 300,000 are enrolled on...

April 30, 2025
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March 2025
26Mar

“The Cuban lives to eat”: This is what one could buy with the minimum pension of a retired Cuban

A young Cuban identified on TikTok as @brianna4258, residing in the province of Matanzas, posted a viral video documenting what can currently be purchased in Cuba with the minimum pension of a retiree: 1,500 Cuban pesos, equivalent to about 4 dollars at the informal exchange rate. “This is the basic salary of a retiree in Cuba,” he says at the beginning of the video while showing the cash. He then walks through the streets and kiosks of his area to highlight the scarcity and...

March 26, 2025
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20Mar

UK. DWP State Pension age to rise next year for thousands

The State Pension age will be rising from next year, the age is currently 66 for both men and women. It will gradually increase to 67 between 2026 and 2028 for those born after April 1960. The transition process is then expected to be completed for everyone by March 2028. The planned change to the official age of retirement has been in legislation since 2014, with a further rise from 67 to 68, which is set to be implemented between...

March 20, 2025
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14Mar

Argentina: Pensioners and soccer fans unite in protests

Argentine pensioners and soccer fans clashed with police on Wednesday as a protest unfolded in front of Congress, with citizens rallying against the economic policies brought in by the government of President Javier Milei. It was an unlikely mix with retirees gathered in Buenos Aires flanked by soccer fans from teams normally at odds with one another. What started as a peaceful event escalated into violent clashes as police fired water cannons, tear gas and pellets while protesters threw stones. The crowd...

March 14, 2025
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February 2025
26Feb

UK. U-turn shows pitfalls of unpicking pensions triple-lock

A pensions timebomb is ticking on the Isle of Man and the self-governing island off the UK's west coast came very close to defusing it last week. Like the UK, the island protects state pensions with the triple lock, which automatically increases the state pension each year by the maximum of three measures: price inflation, average earnings or 2.5%. The Isle of Man's government wanted to scrap the triple lock for some pensioners in its budget last week. But ministers were forced...

February 26, 2025
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20Feb

Sustainability has a very different meaning when retirement is around the corner

Sustainability: it’s a buzzword that won’t stop buzzing. Even in financial services, the concept exists, whenever there’s talk about maintaining an income, bank balance or savings account. It’s also a key component of one of the biggest goals in life — retirement. “Many retirees and pre-retirees worry about having enough retirement income to maintain their desired lifestyle, fearing they may outlive their savings,” says Hostplus senior financial planner Bahar McLeod. “This often leads to a reluctance to spend their savings...

February 20, 2025
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17Feb

Over 20% of Bulgaria’s Pensioners Cannot Afford Basic Necessities

According to Eurostat data, 22.4% of Bulgarians aged 65 and older experience severe material deprivation, meaning they are unable to afford at least seven out of thirteen basic items necessary for a decent quality of life. These essentials include things like replacing worn-out clothes, having some personal spending money each week, renewing old furniture, going on an annual vacation, or handling unexpected expenses. Only Romania has a higher percentage of pensioners in such deprivation, with 23.7% affected. On average, however,...

February 17, 2025
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10Feb

UK. MPs approve £6.9bn hike in spending on pensions and benefits

MPs today approved a £6.9billion hike in spending on state pensions and benefits from April. Orders supported by the House of Commons included a 4.1 per cent increase to the state pension under the terms of the 'triple lock'. This ensures payments rise each April in line with whichever is highest out of average earnings growth, inflation or 2.5 per cent. The increase for 2025/26 was pegged to wages, which rose by 4.1 per cent in the relevant period last year. It means, from...

February 10, 2025
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