May 2025
29May

US. PensionBee Launches SEP IRAs To Include Non-Traditional Retirement Savers

PensionBee, a leading online retirement provider, announced today the launch of Simplified Employee Pension (SEP) IRAs in its digital platform. This offering provides a best-in-class retirement solution designed for self-employed individuals. Self-employed Americans consistently report lower levels of retirement preparedness. Only about 13% of self-employed individuals in single-person businesses participate in retirement plans, compared to nearly 72% of traditional employees. The launch comes at a critical time as the gig economy continues its rapid expansion. By 2025, gig workers are expected...

May 29, 2025
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20May

Malaysia. Framework for gig workers to thrive

THE gig economy has rapidly grown in Malaysia, providing flexible work opportunities to millions of individuals across various industries. Gig workers, including ride-hailing drivers, food delivery riders, freelancers and digital platform workers, play a crucial role in the country’s labour market. However, despite their significant contributions to the economy, many gig workers face job insecurity, lack of social protections and unfair treatment due to the absence of a legal framework governing their rights. Recognising these challenges, the government is set to introduce...

May 20, 2025
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07May

Philippines. SSS Announces New Grants & Pensions for 2025

SSS Announces New Grants & Pensions: If you’re a Social Security System (SSS) member in the Philippines, 2025 brings some of the most comprehensive updates in recent years. The SSS has officially rolled out a host of new grants, expanded coverage, pension enhancements, and voluntary retirement savings programs, offering fresh opportunities for all member categories. Whether you’re a full-time employee, a self-employed professional, or a retiree, these changes are designed to enhance your financial security and retirement readiness. In a time of...

May 7, 2025
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06May

Informal sector and gender-responsive budgeting: Key to effective social spending

This week, the International Monetary Fund (IMF) announced a staff-level agreement with Sri Lanka for the fourth review under the Extended Fund Facility (EFF) potentially unlocking another $ 344 million in financing. Amongst energy pricing and tax reforms, social protection remains a commitment under the IMF’s fourth review. However, the integration of gender-specific considerations, particularly the inclusion of women, within the IMF’s bailout program has been limited and could be the key to missed targets. Under the EFF arrangement, the...

May 6, 2025
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April 2025
24Apr

Canadian plan sponsors watch China’s pension opt-outs for gig economy warning signs

More than 40 percent of flexible workers in China—including delivery drivers, livestreamers, and freelancers—are choosing not to participate in the national pension system, according to Morningstar Canada. Their shift away from the system has contributed to the state pension fund’s first cash-flow deficit since 2018, raising concerns about its sustainability. 29-year-old delivery driver Liu Xin works six days a week in Chengdu but cannot afford the $195 monthly contribution to the state plan. “That’s two weeks of groceries,” he said. “I can’t lock...

April 24, 2025
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14Apr

Zimbabwe. Short-term insurers target informal sector

The Insurance Council of Zimbabwe (ICZ), an association of short-term insurers, says the industry is exploring new business lines through inclusive insurance and targeting the informal sector. Motor and fire insurance continue to dominate short-term insurance industry revenue in both local currency and US dollar terms. According to the Insurance and Pensions Commission (Ipec) third-quarter 2024 report, direct short-term insurers reported consolidated insurance revenue amounting to ZiG 2,53 billion and US$153,97 million in terms of foreign currency business. During the reporting period,...

April 14, 2025
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10Apr

Pensions at a Crossroads: Building Inclusive Retirement Systems for an Aging World

The World Bank’s Social Protection and Jobs Global Practice, in collaboration with the ASPIRE team and informed by research from the International Labour Organization (ILO) and the United Nations Department of Economic and Social Affairs (UN DESA), delivers a timely and comprehensive report. This document scrutinizes the global state of pension and social insurance systems, offering insight into their adequacy, sustainability, and coverage in a world experiencing rapid population aging. As the share of elderly citizens rises sharply across...

April 10, 2025
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04Apr

Robots and Informal Employment in China

By Haiyan Lin This paper examines labor adjustments between the informal and formal sectors in response to the adoption of industrial robots in China. Using a longitudinal household data from 2010 to 2018, I find that robotization increases informal employment. Quantitatively, one more robot per thousand workers increases the share of informal employment by 1.16 percentage points. The reallocation is not driven by new entrants or re-entrants, but by workers initially employed in the formal sector. Displaced formal workers tend...

April 4, 2025
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03Apr

Women, self-employed most vulnerable to pension shortfalls: Eiopa

Europe’s pension system is becoming increasingly unsustainable, Eiopa chair Petra Hielkema warned. She highlighted that women, self-employed workers and people with limited financial literacy are the most vulnerable, stressing the need for structural reforms to ensure long-term retirement security. The European Union's pension system is “no longer sustainable” in its current form and must undergo urgent reform to prevent millions of retirees from falling into poverty, Petra Hielkema, chairperson of the European Insurance and Occupational Pensions Authority (Eiopa), stated in...

April 3, 2025
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March 2025
21Mar

2024 Informal Economy Report

By Moniepoint The informal economy, also known as the shadow economy, comprises businesses that are typically described as untaxed and unregistered. And it is all around you: your family, neighbours, and even friends who have side hustles to supplement their income. This report weaves critical data, insights and expert perspectives to illuminate and help you understand Nigeria’s shadow economy. Get the report here

March 21, 2025
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