Coverage Archives - Page 11 of 23 - Pension Policy International

28NovNovember 28, 2023

Africa running out of time to sort looming pensions crisis

An expert at the ongoing 4th Annual Conference of the African Pension Supervisors Association (APSA) in Kampala has said urgent steps need to be taken to reverse a trend in which the continent has only 10% pension coverage of its population. Sundeep Raichura, Group Chief Executive Officer Zamara says that before African experts can talk of extending pension coverage, they must first admit it has no working pension system, in order for the leaders to focus on getting home grown...

November 28, 2023

NewsAfrica, Coverage, Risk

22NovNovember 22, 2023

EIOPA chair pushes for action on pension dashboard, auto-enrolment, PEPP

The chair of the European pensions supervisory authority has called for “bravery” to make a pensions dashboard at European level a reality. In late 2021, EIOPA delivered its advice to the European Commission on developing pension tracking services and a dashboard to strengthen the monitoring of pension developments in EU Member States. Speaking at EIOPA’s annual conference today, Petra Hielkema said the advice was “sitting there, in Brussels”. “It’s difficult, because if you really want a full dashboard you need the labour and social...

November 22, 2023

NewsCoverage, EU, Regulation

10NovNovember 10, 2023

In search of financially sustainable pension systems: three benchmark models

By Ekaterina Cuéllar, Daniel Gamboa & Waldo Tapia One of the great dilemmas facing countries around the world is to define a pension system that is financially sustainable in the face of increasing life expectancy, falling fertility rates and the consequent lack of generational replacement. Globally, pension reforms in countries with more advanced aging processes have focused on implementing parametric reforms and incorporating automatic adjustments of the main parameters to share productivity, financial and demographic risks. In this article we present the advantages...

November 10, 2023

Articles, Sustainability2023, Aging, Coverage, Pension design

10NovNovember 10, 2023

All registered monks, nuns in Xizang covered by healthcare, pension schemes: official

Southwest China's Xizang Autonomous Region is providing medical insurance, pension schemes, subsistence allowances, and accident injury insurance, and covering health check expenses for all registered monks and nuns in the region, said the head of the regional government at a press conference on Friday. This is a ground-breaking achievement in the history of Tibetan Buddhism, said Yan Jinhai, chairman of Xizang's regional government, adding that as a result, registered monks and nuns are now entitled to receive pensions for the...

November 10, 2023

NewsChina, Coverage

30OctOctober 30, 2023

How Nigeria’s Contributory Pension Scheme Grew 52% in Three Years

The Director General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has said pension assets under the Contributory Pension Scheme (CPS) surged by N5.94 trillion or 52.3 per cent over the last three years from N11.35 trillion in August 2020 to N17.29 trillion in August 2023. The CPS is an arrangement where both the employer and the employee contribute a portion of an employee’s monthly emoluments towards the payment of the latter’s pension at retirement. Speaking recently on the development...

October 30, 2023

NewsCoverage, Nigeria, Pension Management, savings

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

26OctOctober 26, 2023

Ghana. Labour Ministry calls for expansion of pension to cover informal sector

The Director of Finance and Administration at the Ministry of Employment and Labour Relations, Mr Hamidu Adakurugu, has called for the expansion of pensions to ensure all workers, especially those in the informal sector who make up over 75% of the workforce, are enrolled in a pension scheme. Speaking on behalf of the Sector Minister at the launch of National Pensions Awareness Week, he noted that currently, only 2.4 million workers, which represents a small fraction of the over 10...

October 26, 2023

NewsCoverage, Ghana, Informa Sector

16OctOctober 16, 2023

Ghana. Total membership of SSNIT Scheme is 1.8 million — Minister

As of March 2023, the total membership of the Social Security and National Insurance Trust (SSNIT) Scheme was estimated at 1.8 million, Mr Ignatius Baffour Awuah, the Minister of Employment, Labour Relations and Pensions, has disclosed. This, he said means that about 8.1 million of the estimated Ghana’s working population of 9.9 million might not have any form of social security cover, which shows that leveraging digitalisation to extend social security coverage was long overdue. “The overwhelming importance of digitalisation today...

October 16, 2023

NewsCoverage, Ghana, Operations

12OctOctober 12, 2023

Nigeria. Informal sector workers demand social protection

The Federation of Informal Workers of Nigeria has canvassed for social protection for informal workers, noting that over 90 per cent of Nigerians are engaged in the sector. The call was made by delegates at the 2nd Delegates Conference of the Federation of Informal Workers’ Organisations of Nigeria held recently in Lagos. The union argued that government policies have led to the collapse of many industries in the formal sector over the years. This has led to rapid expansion of the...

October 12, 2023

NewsCoverage, Informal Sector, Nigeria, Social Protection

05OctOctober 5, 2023

9 million Ghanaian workers without pension – NPRABY

About nine million people working in the country without any form of pension risk slumping into retirement without income security, the Head of the Corporate Affairs of the National Pensions Regulatory Authority (NPRA), Nana Sifa Twum, has stated. He said that between the next five and 10 years, the working individuals without any form of pension would retire poor and become a liability on their families and society if the situation was not addressed. Nana Twum who stated this in an...

October 5, 2023

NewsCoverage, Ghana

November 2023

Africa running out of time to sort looming pensions crisis

EIOPA chair pushes for action on pension dashboard, auto-enrolment, PEPP

In search of financially sustainable pension systems: three benchmark models

All registered monks, nuns in Xizang covered by healthcare, pension schemes: official

October 2023

How Nigeria’s Contributory Pension Scheme Grew 52% in Three Years

Allianz Pension Report Latam special 2022

Ghana. Labour Ministry calls for expansion of pension to cover informal sector

Ghana. Total membership of SSNIT Scheme is 1.8 million — Minister

9 million Ghanaian workers without pension – NPRABY