May 2022
25May

Canada. How employers can design health benefits, retirement plans for gig workers

Whether they’re delivering takeout, chauffeuring passengers, or fixing leaky sinks, most gig workers in Canada don’t get benefits. Classified as independent contractors rather than employees, they’re excluded from employer contributions to Canada Pension Plan and Employment Insurance, they may not be protected under worker’s compensation and they can’t participate in tax-advantaged benefits programs like registered pension plans and employee life and health trusts. Read: Uber Canada sharing details of self-directed benefits fund for gig workers So even if an employer offered dental...

May 25, 2022
News, ,
Read more...
24May

Ghana. 4 Bodies Collaborate To Give Drivers Pension & Insurance Package

Westom Insurance Brokers in collaboration with People's Pension Trust (PPT), Prudential life Insurance and Premier Health Insurance has launched a pension and an insurance package for members of the Ghana Private Road Transport Union (GPRTU). Known as the ‘Anidaso Plan’, the package offers three in one Pension/Life insurance/Health Insurance plan to members. It also covers the principal’s immediate dependents, that is, spouse and children. The ‘Anidaso Plan’ is a comprehensive pension and insurance package that has been specially designed to offer...

May 24, 2022
News, ,
Read more...
17May

Vice president commits to “significantly increase number of Ghanians in pension schemes”.

Vice President Dr Mahamudu Bawumia has said a well-regulated and functioning pension system is a major driver for investment and development of the country. Read also Arab Pensions Conference grows into key regional platform Together with the National Pensions Regulatory Authority (NPRA) and all stakeholders, Dr Bawumia said they will work together to accelerate the pace of pension acceptance through the use of digitalization, but to focus on designing and rolling out tailored pension schemes for the informal sector, such as...

May 17, 2022
News, , ,
Read more...
10May

Kenya. Reform laws on pensions to spur growth in savings

Whilst the Kenyan pension sector is the biggest in the region, we are yet to exploit its full potential as the penetration rate remains just about 20 per cent of the working class in both formal and informal sectors. Apart from the mention of the registration of The Kenya National Entrepreneurs Savings Trust (KNEST) during the 2022/2023 budget, a government-backed pension scheme for informal workers, there were no other proposals directed towards accelerating the development of the pension sector. There is...

May 10, 2022
News, , ,
Read more...

April 2022
25Apr

Ghana. Steady rise recorded in life expectancy of SSNIT contributors

Regardless of the widely held notion on decreasing life expectancy among Ghanaians, the Social Security and National Insurance Trust (SSNIT) says its statistics indicated a reverse of the widely held misconception. It said longevity on the pension’s payroll indicates a steady rise in life expectancy of contributors aged 72 from eight per cent in 2002 to 18 per cent in 2010 and 25 per cent in 2020. Likewise, the percentage of contributors aged 80, rose from one per cent in 2002...

April 25, 2022
News, , ,
Read more...
Labor Marcket Search, Informality, and Schooling Investmets
14Apr

Labor Market Search, Informality, and Schooling Investmets

By Matteo Bobba, Luca Flabbi & Santiago Levy We develop a search and matching model where jobs can be formal or informal. Workers choose schooling and search for jobs. Firms post vacancies in each schooling market and decide the job's formality status. Upon meeting, workers and firms bargain over wages. The equilibrium size of the informal sector is an endogenous function of labor market fundamentals and institutions. We estimate the model using labor force survey data from Mexico and exploiting the...

April 14, 2022
Articles, Labor Market, ,
Read more...
13Apr

Pinbox gets seed capital from ADB Ventures to expand micro pension coverage in India

ADB Ventures, a platform of Asian Development Bank, has provided seed funding to Pinbox for expanding micro pension coverage in India. Read also Kenya. Pensions raise investments in offshore, private equity Pinbox works to address friction and accessibility challenges in delivering micro pension and insurance solutions to underserved informal sector workers, ADB Ventures said in a statement. It provides a ready-to-deploy micro pension technology platform globally to governments and regulators who are seeking to expand pension and insurance coverage .. Read also Australia....

April 13, 2022
News, , ,
Read more...
04Apr

Ghana. NPRA embarks on pension education for informal sector workers

The National Pensions Regulatory Authority (NPRA) as part of its quest to improve informal pension coverage in Ghana has embarked on an outreach programme in Oti Region to create awareness of pensions. The Head of Corporate Affairs, Nana SifaTwum, told the Ghanaian Times in Accra on Wednesday, that the move is to educate and sensitise both formal and informal sector workers on pension matters. He said the outreach programme which would begin on Monday, April 4 and ends on Friday, April...

April 4, 2022
News, , ,
Read more...

March 2022
31Mar

UK. Flexi-retirement increasingly common due to gig economy

Flexi-retirement is becoming increasingly common, as more and more retirees are opting to work part-time in the gig economy. According to a new report from Abrdn, two thirds of people retiring in 2022 do not plan on giving up work completely. This compares to just over half of those who retired in 2021 and a third of 2020 retirees. The report, which surveyed 2,000 UK adults, reveals how the “class of 2022” plan to spend their and money in retirement. A quarter said...

March 31, 2022
News, , , ,
Read more...
Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT
22Mar

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT

The management of the Social Security and National Insurance Trust (SSNIT) has met with stakeholders to find ways to expand and deepen the coverage of the basic national social security scheme for the self-employed. Read also President Sisi approves 13% increase in pensions: Egypt’s PM This is because 10 million informal workers in the country are not covered by any social security. During a speech at the event, the Minister of Employment and Labor, Ignatius Baffour Awuah, praised the SSNIT leadership for...

March 22, 2022
News, Slider, , , ,
Read more...