August 2021
05Aug

US. Best retirement plans for the self-employed

Retirement plans for the self-employed range from the good to the outrageously good, and can allow you to save much more than you ever could with a traditional employer. A well-chosen retirement plan can allow entrepreneurs and the self-employed to bankroll a bright retirement. The self-employed have several plan options, including defined contribution plans such as a solo 401(k), SEP IRA and SIMPLE IRA. But they also have some defined benefit options, too. Here are the details on some of the...

August 5, 2021
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July 2021
20Jul

U.K. releases proposals for collective defined contribution plans

The U.K. Department of Work and Pensions is seeking views from trustees and plan sponsors on its draft collective defined contribution plan regulation published Monday. The proposal follows the U.K. Pension Schemes Act 2021, which permitted employers for the first time to launch collective DC plans, also referred to as collective money purchase plans. In a CDC plan, income is secured by pooling plan participants' assets and investments, and participants bear the longevity and investment risk. That is in contrast to...

July 20, 2021
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09Jul

Germany finally launches basic pension scheme

Germany’s basic pension scheme kicks off this July Shortly before the federal election in September, Germany’s coalition government is finally delivering on its promise to top-up insubstantial pension benefits to ensure a basic standard of living for all retirees who have contributed to the social security system. Under the new system, anyone who has contributed towards a German pension for at least 33 years will qualify for a basic pension. This includes not just time spent working, but also time taken...

July 9, 2021
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08Jul

Towards equity and sustainability? China’s pension system reform moves center stage

By Li Yang In this paper I review the latest development of China’s public pension system. Last several decades saw China’s tremendous achievement in various public pension reforms. Especially since the 11th Five-Year Plan (2006-2010), reform has accelerated. By 2019, the public pension system in China has covered almost one billion adults, which makes it the biggest pension system in the world. Together with the expansion of Dibao (Basic living allowance) and the eradication of poverty, the development of pension...

July 8, 2021
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05Jul

I am my father’s retirement plan. It’s an honor that terrifies me.

My father lives in a crumbling house. Tile is missing from the bathroom walls, and in the well-worn hallways, my dad has used blue painter's tape to keep patches of burgundy carpet in place. Before I had it replaced, the floor in the dining area was a mismatch of linoleum tile that did nothing to hide or fix the large hole forming between the kitchen and the laundry room. Despite its state of disrepair, the house means a great deal to...

July 5, 2021
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01Jul

US. Now Is The Time To Re-Think Retirement Plan Conventional Wisdom

Retirement plan design can make or break an employee’s ability to maintain their standard of living in retirement. Over the past several decades, many private sector companies implemented a complete overhaul in retirement plan design, shifting from defined benefit pensions to 401(k)-style defined contribution accounts. Originally designed to supplement rather than replace pensions, 401(k) plans have become the primary employer-sponsored plan for many U.S. workers. This transition meant sacrificing a number of important features of pension plans and economic efficiencies....

July 1, 2021
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June 2021
28Jun

Merger of SSNIT numbers, Ghana Card begins on June 28

The merger of the SSNIT and Ghana Cards commences on Monday June 28 with a call on individuals with SSNIT numbers to follow one of three ways to ensure the merger. These include the use of a shortcode as well as the website of SSNIT. In an interview with GBC News, Manager in charge of Corporate Affairs of SSNIT Afua Sarkodie, said the transition period for the exercise is between June 28 to December this year. Already the Trust has held a...

June 28, 2021
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28Jun

DIY pensions gather steam in Korea

Three years ago, a 32-year-old software developer surnamed Park bought an individual retirement pension plan, not knowing exactly what his corporate pension plan was as an employee. Holding a portfolio mix of stock funds and a bond fund, with one of the stock funds returning as high as 43 percent since inception, the private retirement plan is now offering him a financial return, a tax deduction and a sense of relief. “I have doubts whether I‘ll be able to get the...

June 28, 2021
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24Jun

The Gender Pensions Gap

By A recent report by the trade union Prospect found that the gender pensions income gap (39.5%) was more than double the size of the total gender pay gap (18.5%), with the average female pensioner £7000 p.a. poorer than their male equivalent.2 This inequality in the present is the result of the unequal accrual of pension entitlements over decades. It is mainly the product of women’s lower state pension entitlement, the gender pay gap, lower historic access to workplace pensions and...

June 24, 2021
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11Jun

Public Pension Schemes in Seven European Countries: A Micro-Simulation Approach

By Hand Hansen The idea of this book is to provide insight into the composition and structure of public pension and early retirement schemes in seven European countries, Denmark, Sweden, Finland, Great Britain, Germany, the Netherlands and Italy. The component and structural analyses are based on micro simulation models, which, after validation of the models, makes it possible to perform a great number of precise calculations in a very short time and to present the results in graphical form, close...

June 11, 2021
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