COVID-19 Archives - Page 56 of 109 - Pension Policy International

10MarMarch 10, 2021

Perú. Un millón de afiliados a las AFP en riesgo de quedar sin pensión

El Congreso está cerca de repetir la historia al contribuir a que más afiliados al Sistema Privado de Pensiones (SPP) queden desprotegidos cuando lleguen a la vejez. Y ello sucedería debido a que la Comisión de Economía del Parlamento tiene bajo revisión ocho proyectos de ley que plantean retiros de fondos que van desde una unidad impositiva tributaria (UIT) o S/4,400 hasta el 100% de los fondos. Leer también Candidato a la presidencia de Perú promete: Afiliados a las AFP...

March 10, 2021

Noticias2021, América Latina, COVID-19, Perú, Retiro de Fondos

10MarMarch 10, 2021

Nigeria. PenCom Approves N5.33bn as More Contributors Withdraw Pension Funds

Pension Fund Administrators(PFA) are under stress as a result of continuous demands for withdrawals by contributors into the Contributory Pension Scheme. This is as a result of increased job losses due to harsh economic environment. In the last quarter of 2020, the situation compelled the National Pension Commission (PenCom) to approve N5.33 billion to enable PFAs provide succor to 11,796 account holders who found themselves out of jobs. The development was attributed to the impact of the COVID-19. According to PenCom, a total...

March 10, 2021

News, Slider2021, COVID-19, Nigeria, Public Pensions

10MarMarch 10, 2021

Puerto Rico debt-restructuring plan filed amid criticism

A framework that outlines how Puerto Rico will restructure at least $35 billion in public debt and more than $50 billion in public pension liabilities threatens a 10% cut to certain public pensions if no agreement is reached with retirees. The amended plan of adjustment of 233 pages was filed late Monday in U.S. court by a federal control board that oversees Puerto Rico’s finances and was created by Congress to lift the U.S. territory’s government out of bankruptcy. The plan...

March 10, 2021

News, Slider2021, COVID-19, Pension Reform, Puerto Rico

10MarMarch 10, 2021

Australia. Age Pension increase for mid March

This announcement follows the Royal Commission into Aged Care Quality and Safety's Final Report, tabled into Parliament on 26 February 2021, which outlined the necessary changes needed in the aged care sector From 20 March, 2021, all social security payments will be increased, including the Carer Payment. The Age Pension was not raised last September, which the peak body for older people, National Seniors Australia, says was the first time there was no increase to cover the cost of living in the...

March 10, 2021

News, Slider2021, Adequacy, Australia, COVID-19, Income

10MarMarch 10, 2021

Many over-55s could be heading for retirement income shortfall, says survey

Many over-55s who are approaching retirement risk exhausting their pension savings early, a survey suggests. A quarter (25%) of those aged 55 to 64 who are still working said they were only budgeting for their retirement income to last 10 years or less, Standard Life found. One in eight (12%) are planning for their retirement income to support them for just one to five years. Three in 10 (29%) over-55s expect to need the same amount of cash each year throughout their...

March 10, 2021

News, Slider2021, Aging, COVID-19, Retirement Age

09MarMarch 9, 2021

Banks, pensions, and sovereign funds fail to achieve gender balance, finds OMFIF

By Madeleine Taylor Less than 1 per cent of central banks, sovereign funds, public pension funds and commercial banks have achieved gender balance within their workforces, according to a comprehensive survey by Official Monetary and Financial Institutions Forum (OMFIF). Think tank OMFIF surveyed 540 institutions on gender diversity among senior staff, and found only three that had achieved perfect scores for gender balance among their senior staff, while another 12 were “close to achieving balance”. The three highest ranking institutions were US...

March 9, 2021

News, Slider2021, COVID-19, Gender Gap, Investment, Pension Management

09MarMarch 9, 2021

China Plans New State Pension Firm as Population Ages

China plans to create a new state-owned pension firm to tackle a massive funding gap as the world’s largest population struggles to finance retirement despite decades of economic growth. The China Banking and Insurance Regulatory Commission is mulling a national pension company with state-owned banks and insurers as shareholders, according to people familiar with the discussions. Details such as the shareholding structure and size of investment are still being hammered out, they said, declining to be identified as the plan...

March 9, 2021

News, Slider2021, Aging, China, COVID-19, Public Pensions

09MarMarch 9, 2021

Taking a workforce break to raise children hurts retirement savings – economist

By Margarida Correia Taking time off from the workforce to take care of children can put a serious dent in workers’ long-term retirement savings. That was one of the central points that Michael Madowitz, an economist with the Center for American Progress, made as the keynote speaker Monday at Pensions & Investments' 2021 Defined Contribution Virtual Conference. A 29-year-old woman earning $44,000 who decides to take two years off for raising a child would not simply lose $88,000 for the two years she...

March 9, 2021

News, OP Ed, Slider2021, COVID-19, Gender Gap, savings

09MarMarch 9, 2021

Delivering prevention in an ageing world: Democratising access to prevention – Consultation paper

By International Longevity Centre UK Following our year-long Prevention in an ageing world programme that sparked conversations from Abu Dhabi to Taipei, Austin, Geneva, Sydney, London all the way to the G20 Health Ministers, the message is clear. It’s never too late to prevent. And the health and economic costs of failing to invest in preventative interventions across the life course are simply too high to ignore. We know that prevention works, but for too long cultural, economic and geographic divides...

March 9, 2021

Aging, Articles, Books, Books, Helathcare, Reports2021, COVID-19, Social Security, UK

08MarMarch 8, 2021

México. 55% de los trabajadores no alcanzaría una pensión aún con la reforma: Banxico

De mantenerse los niveles actuales de intermitencia laboral de los mexicanos entre el mercado formal e informal, 55 por ciento de los trabajadores no va a alcanzar una pensión cuando, por ley, se pidan mil semanas de cotización ante el IMSS como requisito para obtenerla, estimó el Banco de México. Leer también México. Proponen no descontar semanas de cotización por retiro de desempleo La reforma al sistema de pensiones que se aprobó en diciembre redujo de mil 250 a 750 el...

March 8, 2021

Noticias2021, América Latina, COVID-19, Mexico

March 2021