January 2025
31Jan

Allianz Global Pension Report 2025: Time to walk the talk

By Allianz Research  Allianz published the third edition of its “Global Pension Report”, which analyzes 71 pension systems around the globe with the help of the company's own “Allianz Pension Index” (API). The indicator consists of three pillars: analysis of the demographic and fiscal situation, and an assessment of the sustainability (e.g. financing and contribution periods) and adequacy (e.g. coverage and pension levels) of the pension system. A total of 40 parameters are taken into account, with scores between 1...

January 31, 2025
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31Jan

South Africans face the prospect of retiring at 80

Based on data from over 300 000 Sanlam Umbrella Fund members. While 65 remains the official retirement age, most South Africans will need to work until 80 before they can afford to retire comfortably. This is according to data from Sanlam Corporate, based on insights into its over 300 000 Sanlam Umbrella Fund members. The company’s research highlights a growing retirement funding crisis, with estimates that only one in four South Africans will be able to retire at 65. Sanlam Corporate CEO Kanyisa...

January 31, 2025
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28Jan

Russia Announces Major Pension Indexation Updates

Russian President Vladimir Putin recently announced significant updates to the pension indexation system, which will take effect from January 2025. These changes aim to adjust pension payments based on actual inflation rates, enhancing the financial support available to millions of retirees across the country. Starting January, the insurance pensions for both working and non-working pensioners were initially indexed by 7.3%. Recognizing the necessity for more substantial support amid rising inflation, Putin proposed to retroactively increase the indexation to 9.5% effective...

January 28, 2025
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27Jan

2025 Pension Updates And Tax Changes Impact Mexican Retirees

Pension payments now subject to taxes after surpassing new UMA thresholds starting this year. Every year at the start of January, the value of the Unidad de Medida y Actualización (UMA) increases, leading to adjustments in the exempt amounts for pension payments. Recently, it was announced once again the increment of this measure, which is pivotal for various obligations and taxes levied by both the federal government and the states. The UMA not only plays a role in determining tax...

January 27, 2025
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27Jan

Iran Protests: Nationwide Demonstrations Highlight Economic Injustice and Suppression

Today, January 27, 2025, protests erupted across multiple cities in Iran today, as retirees, farmers, workers, and defrauded citizens rallied against the regime’s economic mismanagement, systemic corruption, and oppressive tactics. Demonstrations highlighted a variety of grievances, from pensions and wages to access to water rights and freedom from arbitrary arrests. In Zanjan, northwest Iran, retirees from the Telecommunication Company of Iran (TCI) resumed their protests, calling for higher pensions and an end to mismanagement. Similar protests were held in Ahvaz, southwest Iran,...

January 27, 2025
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24Jan

Is Care Affordable for Older People?

By Organisation for Economic Co-operation and Development With population ageing, the demand for helping older people with daily activities – so-called long-term care – is set to increase across OECD countries by more than one-third by 2050. Older people with long-term care needs are more likely to be women, 80-years-old and above, live in single households, and have lower incomes than the average. Currently, across OECD countries, publicly funded long-term care systems still leave almost half of older people with...

January 24, 2025
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24Jan

China: Expansion of voluntary personal pension system

Employer Action Code: Act In 2022, China’s central government piloted new tax incentives in 36 cities and regions to encourage employees to make voluntary contributions to individual retirement accounts to complement social security pension benefits and help address the challenges of a rapidly aging population. After a successful pilot, the system is now fully implemented nationwide as of December 15, 2024. Key details The following changes to the individual accounts under the pilot program have been made: Money may be withdrawn in...

January 24, 2025
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17Jan

Adequacy of future retirement incomes: new evidence for private sector employees

By Jonathan Cribb, Laurence O'Brien & David Sturrock This report takes a fresh look at the prospects for the future of retirement incomes for employees in the UK. Since the Pensions Commission reported around 20 years ago, much has changed in the economic and pensions policy environment. While the introduction of automatic enrolment has been in many respects a great policy success – and the level and coverage of the flat-rate component of the state pension have increased markedly – lower-than-expected...

January 17, 2025
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15Jan

Belgium pension protests disrupt transport, schools

The nationwide strike that paralyzed Belgium's transport network on Monday highlighted growing opposition to proposed pension reforms, as labor unions mobilized an estimated 30,000 workers from across multiple sectors. The action brought air and rail services to a standstill and forced numerous schools to close their doors. In the Belgian capital, Brussels airport reported that nearly 50 percent of its flights were grounded after crew, including luggage handlers and security personnel, joined the walkout, and the national railway company NMBS operated...

January 15, 2025
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07Jan

Ghana. SSNIT announces 12% increase in monthly pension payments

The Social Security and National Insurance Trust (SSNIT) has announced a 12% increase in monthly pension payments, in line with its annual inflation adjustment. This increment follows consultations with the National Pensions Regulatory Authority (NPRA) and adheres to the guidelines outlined in Section 80 of the National Pensions Act, 2008 (Act 766). All eligible pensioners who were on the SSNIT pension payroll as of December 31, 2024, will receive the 12% increase in their monthly pension payments starting this year. The adjustment...

January 7, 2025
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