September 2026

French presidential candidate Philippe pitches later retirement, mandatory savings

French centre-right presidential candidate Edouard Philippe proposed on Tuesday raising the retirement age to 65 and making private pension savings compulsory, tackling one of France’s most ​politically explosive issues. Pension reform is highly sensitive in France, where ‌workers rely on a public, pay-as-you-go system funded by current contributions, and private retirement savings remain voluntary and limited. With one of the lowest retirement ages in advanced countries at 62.9 years, France’s pension system is sliding into deficit as ‌the ​population ages, making...

Fidelity International Advocates for Pension Reform in Germany

On September 28, 2026, Fidelity International is lobbying the German government to expand its pension reform plans, aiming to address the significant retirement savings gap among workers. The firm’s German private client head emphasized the importance of opening the new personal pension scheme as an optional channel for occupational pensions. With a goal to rank among the top five in the industry, Fidelity believes it can play a crucial role in this market. SMCI's Price-to-Sales (P/S) ratio is approximately 0.56,...

Spain. Fedea detects advances in the sustainability of pensions but warns of “excessively optimistic” projections

The Foundation for Applied Economic Studies (Fedea) has presented a paper in which it appreciates an improvement in the structural sustainability of the public pension system in Spain after the reforms of 2021 and 2023, focused on strengthening revenues and delaying the effective retirement age. However, the document insists that these conclusions should be taken "with great caution," as they depend on a series of macroeconomic and demographic hypotheses that Fedea itself considers "excessively optimistic." The hypotheses and assumptions labeled as...

Chile pension reform: A new opportunity for investment managers

Pension reform in Chile, one of the most advanced retirement benefit markets in Latin America, is gathering pace. After the Chilean National Congress approved landmark pension reforms in January 2025, more detailed draft guidelines for their implementation are expected soon. These moves could, over time, lead to a hefty surge in assets under management (AUM) as contributions build, potentially creating new business opportunities for investment managers and their service providers. Launched in the 1980s, Chile’s private pension system is currently based on...

South Korea. Basic Pension Reform Criticized as Populist, Ineffective

“If this is the case, they shouldn’t have touched it at all… They’ve kept the structure intact while only increasing the financial burden on future generations. It’s like telling an overweight patient with adult diseases to lose weight, only to add more fat.” Yoon Seok-myung, 65, a senior honorary researcher at the Korea Institute for Health and Social Affairs, evaluated the government’s basic pension reform plan in an interview with this newspaper on the 1st, stating, “Money is being indiscriminately...

August 2026

France. Pensions: François Hollande proposes a 63-year age, partial de-indexing, and a degree of capitalization

François Hollande unveils several measures to fundamentally reform the French pension system. The former president proposes a legal retirement age of 63 in 2028, a gradual increase in the contribution period, and a five-year cap on pension increases. In his manifesto , *Uniting: A New World, A New Left *, to be published on September 3, François Hollande argues that the pension reform issue will inevitably resurface after the 2027 presidential election. His first proposal is to set the legal...

Cyprus. Pension reform to bring increases for all retirees, minister says

All pensioners will receive increases under the government’s planned pension reform, with those on lower pensions set to benefit the most, Labour Minister Marinos Mousiouttas said on Sunday. In interviews with newspapers Phileleftheros and Kathimerini, Mousiouttas said the reform – the first major overhaul of the system since 1980 – was intended to create a fairer, more modern and sustainable pension system. Increases will be calculated according to factors including the number of years worked and contributions paid, with proportionally greater...

Portugal considers automatic workplace pensions to boost retirement income

Workers in Portugal could be automatically enrolled in workplace pension plans under proposals aimed at strengthening retirement incomes and addressing growing pressure on the country’s public pension system. The government-appointed expert group studying the sustainability of Segurança Social – Portugal’s state social security and pension system – presented its final recommendations on Tuesday after around 18 months of work. The government received the report last month and has said it will consider its recommendations. One of its main proposals is an...

Reform proposes ban on most benefits for foreign nationals in UK

Foreign nationals would be excluded from most benefits under a Reform UK government, the party has said. The ban, part of a proposed overhaul of Britain's benefits system, would include European Union (EU) nationals with settled status in the UK, meaning a renegotiation of the UK's Brexit deal with the EU. In a speech on Monday, the party's economy spokesman, Robert Jenrick, said: "The British taxpayer is acting as the welfare state for the world. That's unfair, we all know it." Reform...

Restoring dignity: How pension reforms are reviving Zimbabwe’s retirement system

Every month-end, Mr Mxolisi Dube (72) from Makokoba suburb in Bulawayo arrives at his local bank before sunrise. Long before the doors open, he joins dozens of fellow pensioners waiting patiently to collect what should be the reward for a lifetime of hard work and sacrifice. Clutching a worn leather wallet, the retired foundry worker waits with quiet hope that this month’s pension will stretch a little further than the last. For years, however, opening that wallet brought more despair than...