December 2020

31Dec

UK. Time for ‘auto-enrolment 2.0’?

The principle of automatic enrolment could be used by the government to support other savings goals next year, Scottish Widows has said. According to Pete Glancy, head of pension policy at Scottish Widows, the shaping of an ‘auto-enrolment 2.0’ could be a real possibility in 2021 as the government looks to encourage more people to save following the Covid crisis. Mr Glancy said: “Momentum behind increasing the financial resilience of UK households will continue, fuelled by the Covid-19 experience....

December 31, 2020
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September 2019

30Sep

Australia. A simpler system would be super

In the past year, reports by the Productivity Commission and the banking and financial services royal commission have prompted intense and commendable consideration about the direction of Australia’s retirement and savings policies. Superannuation should not be as cruelly complex as it is. While the system’s basic concept is elegant – providing workers with a compulsory employer-paid super contribution equivalent to at least 9.5 per cent of salary – the confounding rules, layers of costs, tax benefits and snags are...

September 30, 2019
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19Sep

Greece. New system for auxiliary pensions from 2021

Although the committee of experts set up to study the details of the new system still has a number of issues to work through, the Labor Ministry appears to have decided on the main principles of the new mechanism. These principles will include delinking the need to get the main pension first, before collecting the auxiliary one. Deputy Minister for Social Security Notis Mitarakis says that workers will be able to collect their auxiliary pensions at any point between...

September 19, 2019
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March 2019

27Mar

Report on other information to be provided to prospective and current members: guidance and principles based on current practices

By EIOPA This report analyses certain national practices existing prior to the implementation of the Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORP II). It concerns disclosure documents to be given to prospective members and members in the pre-retirement and pay-out phase, as set out in Chapter III “Other information documents to be provided” within Title IV “Information to...

March 27, 2019
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May 2017

22May

The Swiss Occupational Pension System: A Governance View

By Nadège Bregnard (University of Neuchatel) This paper describes the current Swiss occupational pension system with a focus on its governance aspects by emphasizing on the minimum guarantees established by the law, the governance-related requirements, and the most recent supervision framework. It documents in details how the various and different Swiss pension funds are structured and organised and identify six key structure characteristics to classify them. The major distinction with other country pension systems is that pure defined-contributions plans do...

May 22, 2017
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