November 2019

28Nov

Countries should strengthen pension systems to adapt to changing world of work

Governments should urgently reform their pension systems to ensure that the growing share of workers in temporary or part-time employment can contribute enough during their working lives to receive an adequate income in retirement, according to a new OECD report. Read also Pensions at a Glance 2019 Pensions at a Glance 2019 says that non-standard employment, such as self-employment, temporary or part-time work, now accounts for more than one-third of employment across OECD countries. Part-time work is three times more...

November 28, 2019
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20Nov

Ageing population a threat to Australian economy: Treasurer

Australia's Treasurer Josh Frydenberg has warned that the nation's ageing population is an "economic time bomb". Read also US. Longevity Project explores the nuanced implications of longer life According to The Australian Financial Review on Tuesday, Frydenberg said in a speech that the population is ageing and this will place new demands on health, aged care and pension systems. Read also The human face of pension management According to data cited in his speech, the ratio of working-age Australians to every...

November 20, 2019
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08Nov

Philippines. Social pension and our senior citizens

A hallmark of Filipino culture is how we treat our elderly with respect and utmost care. Indeed, it is normal for a family to have at least one grandparent living with them—and if not living with them, then frequently visiting to make sure the children and grandchildren are doing well. With this in mind, the government recognizes that the welfare of senior citizens can be a challenge for many families. That is why there is a need for...

November 8, 2019
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October 2019

30Oct

Can migrants, robots and retirees help to combat the demographic crisis in an ageing Japan?

Turning 100 is no longer a novelty in Japan. Itsuko Inoue recently celebrated her 100th birthday, joining the ranks of Japan’s 71,000 centenarians. A native of Tokyo, Inoue survived both the earthquake of 1923 and the Second World War before going on to have five daughters. She will soon receive a certificate from Japan’s Ministry of Health, Labour and Welfare, which is responsible for congratulating the new centenarians who grow in number every year. Read also What Is The...

October 30, 2019
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29Oct

What Is The Future Of Aging Populations?

Across much of the world, life expectancy is on the rise, and while this represents a tremendous achievement in science and healthcare, it also presents a significant challenge for societies as populations not only age, but for whom older people represent an ever growing proportion of society. I've written previously about the challenges of an aging society, with people such as London Business School's Lynda Gratton and Airbnb's Chip Conley among the foremost thinkers on the topic. An aging...

October 29, 2019
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22Oct

Japan. No excuse for inaction on pension reforms

In Japan, which faces an accelerated aging of the population with ever fewer births, a vague sense of anxiety over the public pension system is spreading. Generally speaking, future pension finance greatly fluctuates depending on demographic composition and changes in socio-economic conditions. Accordingly, the government examines the health of pension finance every five years to assess its condition. The result of the latest checkup, disclosed at the end of August, shows that the level of pension benefits about 20...

October 22, 2019
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16Oct

South African study shows how unhealthy ageing takes its toll on health and income

Population ageing is often associated with health-related challenges. But its effects also reach other spheres of life. In particular, an ageing population has a big impact on countries’ economies. Research shows how it can influence a country’s economic growth. And a similar effect can be found at the household level. Read also UK. Queen’s Speech: Govt announces Pensions Bill This is of greater relevance given there is a greater share of the population reaching older age across the world. This...

October 16, 2019
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14Oct

US. Only half of Gen Xers have a retirement account, and that’s a catastrophe in the making

Millennials may bear the brunt of bad press, but Gen X is arguably in worse financial shape. Insider recently teamed up with Morning Consult to survey 2,096 Americans about their financial health, debt, and earnings for its new series, "The State of Our Money." Of the total respondents, 566 were Gen X, defined as ages 39 to 54 this year. According to the survey, exactly half of Gen Xers don't have a retirement savings account. That's only slightly less...

October 14, 2019
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08Oct

Japan. Excessive concern over public pension

The Health, Labor and Welfare Ministry’s Social Security Council in late August released its report to examine sustainability of the public pension system every five years. This time, the report received particular attention since it followed the recent controversy as to whether public pension benefits are enough to cover people’s retirement expenses. However, misguided comments on the issue flooded social media and blogs, and some of the mass-media reports tended to present a one-sided coverage. Read also Japan. World’s Largest...

October 8, 2019
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07Oct

Zimbabwe. Pensioners to get express cash

The Government is working with the Reserve Bank of Zimbabwe and banks to ensure that pensioners access cash for their pension payouts. The country has been experiencing cash shortages that have seen members of the public literally camping at banking institutions who are failing to satisfy their clients. The hardest hit, however, are pensioners, with some now being forced to sleep on bank pavements for more than a night in anticipation of cash. Minister of Public Service, Labour ...

October 7, 2019
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