April 2025
30Apr

96% of Ghanaian pensioners live on GH¢5,000 or less monthly – Paul Kofi Mante

At the 2025 edition of the Money Summit organized by the Business and Financial Times (B&FT), Paul Kofi Mante, Managing Director of EDC Investment Limited, raised urgent concerns about the state of pensions in Ghana, revealing that a staggering 96% of pensioners receive GH¢5,000 or less per month. Speaking as a panelist during a session focused on investment and retirement planning, Mr. Mante described the current pension reality as deeply worrying. He disclosed that out of the over 2 million Ghanaians aged 60 and above, fewer than 300,000 are enrolled on...

April 30, 2025
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29Apr

UK pension system is at a tipping point

The UK faces a pensions time bomb that could detonate within a generation. Unlike all good suspense movies, there is not going to be a cutting of the red or blue wire in the final seconds of a digital countdown; solutions are complex, multi-faceted and wide reaching. For decades, the UK pension system has been regarded as a stable safety net, ensuring workers can retire with dignity. But beneath this illusion of security lies a crisis in the making. The combined pressures of...

April 29, 2025
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29Apr

US. Benefits Cuts on the Table in House Budget Legislation

Cuts to federal employees’ benefits are being pitched in budget legislation scheduled to be marked up in the House of Representatives this week. House Committee on Oversight and Government Reform Chairman James Comer (R-KY) announced that the Committee will mark up budget legislation on Wednesday, April 30 at 10:00 AM ET as part of the Trump administration’s plan to reduce federal spending to combat the growing debt which currently stands at about $36 trillion. Items Under Consideration The items to be considered would have...

April 29, 2025
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29Apr

Finland. More than half of working-age people save for retirement, especially young people

Private savings for retirement have increased significantly over the past decade. According to a comprehensive survey by the Finnish Centre for Pensions, more than half of people aged 25–67 are saving or have saved for retirement in 2024. According to the study, the most common pension savers are the self-employed, people with above-average incomes and Finns close to retirement age. Savings rates among people under 30 have increased compared to previous similar surveys. In 2024, 45 per cent of the under-30-year-olds...

April 29, 2025
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28Apr

US. More and more Americans are draining their 401(k)s to survive — with ‘hardship withdrawals’ at 15%-20% above normal.

More Americans are tapping into their 401(k) to make ends meet — treating it more like an emergency fund than a retirement savings plan. Hardship withdrawals are running 15% to 20% above the historical norm, Empower CEO Ed Murphy told Bloomberg TV. Empower is the second-largest retirement plan (by number of participants) in the U.S. While new rules make it easier to withdraw funds, some people may be turning to their retirement savings as prices on consumer goods — from groceries to...

April 28, 2025
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28Apr

Nigeria. PenCom to recover unpaid pensions from power firms

The National Pension Commission has intensified efforts to recover unpaid pension contributions from electricity generation and distribution companies across the country. In a statement made available to our correspondent on Sunday, PenCom’s Director-General, Omolola Oloworaran, during a courtesy visit to the headquarters of the Nigerian Electricity Regulatory Commission recently, led a delegation to seek NERC’s intervention in enforcing compliance among erring power companies. According to Oloworaran, at least 16 power generation and distribution companies have failed to remit billions of naira...

April 28, 2025
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23Apr

Brits reject pension gamble, choose stability over high-risk bets

In an era of economic uncertainty and shifting retirement expectations, British savers are making one thing clear: when it comes to their pensions, stability prevails over speculation. Rather than chasing high returns through risky investments, most UK pension holders are opting for steady growth, transparent management, and long-term financial security. This trend is underscored by new research from PensionBee, which reveals just 8% of savers are willing to invest in high-risk assets. The majority are risk-conscious, with 49% preferring a moderate-risk strategy,...

April 23, 2025
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22Apr

‘Will Britain’s state pension still exist when I retire in 30 years?’

The debate over the state pension – such as what should happen to the triple lock – seems to entirely focus on people who are in receipt of it, or will be soon. However, it ignores people like me who are in their 30s and have no idea what it might be worth when we finally reach retirement, or when we might get it. Is there any certainty at all about whether the state pension will still exist in 30 years, or should...

April 22, 2025
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15Apr

US, Beyond the 401(k): 3 Strategies To Retire Comfortably and Still Leave Money Behind

For many Americans, having a plan to leave money for their loved ones is a priority. According to a recent Empower survey, 40% of Americans say that leaving an inheritance for their children is part of having a happy retirement. If this is one of your financial goals, you’ll likely need to look beyond your 401(k) to ensure you can save for your retirement and still have money left over. Here are three strategies you should consider to help you build a financial legacy. Diversify Your...

April 15, 2025
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08Apr

Kenyans’ pension contributions have almost doubled since 2022

Kenyans’ contributions towards pension schemes have nearly doubled since 2022, data from the Retirement Benefits Authority (RBA) shows. RBA records show pension contributions over the last three years have risen from Ksh.62.73 billion for the half year ending June 2022 to Ksh.118.80 billion for the half ending December 2024. For the six months ending in December 2022, pension contributions were Ksh.70.26 billion, then climbed to Ksh.83.14 billion in the half-year up to June 2023 and further to Ksh.105.65 in the second...

April 8, 2025
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