Pension Reform Archives - Page 26 of 47 - Pension Policy International

03JanJanuary 3, 2023

France signals flexibility in face of pension reform resistance

The French government said Tuesday it could be flexible on its plan to raise the retirement age to 65, part of a hugely controversial pension reform project pushed by President Emmanuel Macron. Speaking ahead of crunch talks with unions that have fiercely resisted any change, Prime Minister Elisabeth Borne told FranceInfo radio that the age of 65 is "not set in stone". She added that "other solutions" could help the government reach its target of balancing the pensions system...

January 3, 2023

NewsFrance, Pension Reform

23DecDecember 23, 2022

Slovakia: Pension reforms — auto-enrolment and parental pensions

Employer Action Code: Act The government has approved amendments to the Social Insurance Law, with the primary aims of 1) increasing retirement savings in employees’ social security defined contribution (DC) privately managed accounts (i.e., the “second pillar”) through automatic enrolment and the use of default life cycle index (rather than bond-based guaranteed) investment funds, and 2) improving the sustainability of the social security defined benefit (DB) retirement program (i.e., the “first pillar”). The changes are effective January 1, 2023. Key details Changes...

December 23, 2022

NewsPension Reform, Slovakia

21DecDecember 21, 2022

El Salvador’s Congress approves pension system reforms

El Salvador's Congress on Tuesday approved reforms to increase pensions and create a state entity to supervise the retirement income system, despite criticism from experts who argued the measures were insufficient. Among the reforms, proposed by President Nayib Bukele, are a 30% rise in pensions and a cap of $3,000 a month. The minimum will rise to $400 a month from $304, according to a government statement that noted that 100,000 people past working age had not left their jobs due...

December 21, 2022

NewsEl Salvador, Pension Reform

14DecDecember 14, 2022

Nine EU countries need pension reform

Nine EU countries have not explicitly committed to pension reforms in their recovery and resilience plans despite Commission recommendations on the matter from the 2019 European Semester, according to Commission documents and declarations made to EURACTIV. In 2019, during the European Semester, 17 EU countries received recommendations on the “long-term sustainability of public finances”, and 15 were urged to specifically reform their pension systems. Some of them were again asked to pursue reforms of the retirement system with the Next...

December 14, 2022

NewsEU, Pension Reform

12DecDecember 12, 2022

Macron postpones French pension overhaul to January

French President Emmanuel Macron said Monday that he was pushing back his presentation of a major pensions overhaul denounced by labour unions, citing recent leadership changes at two opposition parties. Both the Greens and the right-wing Republicans have elected new chiefs, and Macron said he would consult with them before unveiling details of the major reform on January 10, instead of Thursday as planned. “This will give a few more weeks for those… who have taken over to discuss some of...

December 12, 2022

NewsFrance, Pension Reform

09DecDecember 9, 2022

French government prepares high-stakes pension reform

The French government is consulting unions and potential allies to see if it could get a highly unpopular pension reform adopted by a fragmented parliament without causing mass protests that could paralyse the country. Details of the reform are expected to be unveiled on Dec. 15 but President Emmanuel Macron has made clear the French will have to work longer, with legal retirement age potentially pushed by as much as three years to 65. Opinion polls show the vast majority...

December 9, 2022

NewsFrance, Pension Reform

01DecDecember 1, 2022

Maintaining reform momentum is essential to strengthen pension systems, says OECD

The current financial and economic uncertainty, as well as the rising cost of living, may lead policy makers, regulators and supervisors to postpone reforms that could improve their pensions systems. However, delaying needed reforms would put at risk the well-being of current and future pensioners. Policy makers should continue to improve pension systems, according to a new OECD report. The OECD Pensions Outlook 2022 says that pension arrangements in which retirement savings are invested to accumulate assets that will finance...

December 1, 2022

NewsPension Management, Pension Reform, Regulation, System sustainability

01DecDecember 1, 2022

Would Boric’s Plan Strengthen Chile’s Pension System?

Chilean President Gabriel Boric on Nov. 2 unveiled his long-planned proposed reform of the country’s pension system. If lawmakers approve it, the reform would do away with the country’s existing private pension managers, known as AFPs, and would also require employers to pay an additional 6 percent of their workers’ wages to a publicly run social security system. How likely is the reform to win congressional approval, and what changes might lawmakers make to it? What are the most...

December 1, 2022

NewsChile, Pension Reform

01DecDecember 1, 2022

OECD Pensions Outlook 2022

The OECD Pensions Outlook discusses how to introduce, develop and strengthen asset-backed pension arrangements, the role that employers can play in their provision, and the implication of different fee structures on individuals saving for retirement and on providers. The 2022 edition focuses on describing best practices for developing mortality tables and providing policy guidance on how to design, implement and continue the operation of non-guaranteed lifetime retirement income arrangements. Get the report here

December 1, 2022

Books, Books, Pension design, Pension Management, Pension Reform, Regulation, Reports, Slider, Slider, System Sustainability2022, Investment, Pension Reform, Pensions Management, Risk, System sustainability

11NovNovember 11, 2022

Preparing for Retirement Reforms

By Karen E. Smith, Eugene Steurele, Damir Cosic Each of the three pillars of the US retirement system—Social Security, employer pensions, and private savings—suffers from serious problems that could threaten the financial security of future retirees. Social Security is at risk of becoming insolvent. If policymakers fail to act, Social Security benefits will be cut by about 25 percent starting in 2035, and even with reform, some combination of a slowdown in benefit growth for retirees and higher taxes on...

November 11, 2022

Articles, Pension design2022, Financial Literacy, Pension Reform, Social Security, Taxation, US

January 2023

France signals flexibility in face of pension reform resistance

December 2022

Slovakia: Pension reforms — auto-enrolment and parental pensions

El Salvador’s Congress approves pension system reforms

Nine EU countries need pension reform

Macron postpones French pension overhaul to January

French government prepares high-stakes pension reform

Maintaining reform momentum is essential to strengthen pension systems, says OECD

Would Boric’s Plan Strengthen Chile’s Pension System?

OECD Pensions Outlook 2022

November 2022