July 2020

16Jul

FLF Africa launches Financial Literacy for Coronavirus Alleviation programme

The Financial Literacy Foundation Africa has launched a Financial Literacy for Coronavirus Alleviation programme (FLICA) which aims to provide education on how to handle economic and financial hardships arising from the Covid-19 pandemic. This continental project will take place in all 46 countries in sub-Saharan Africa and aims to achieve financial independence for eight out of every ten individuals by 2030. “The strategic approach will address attitudinal and behavioral barriers to our goal of financial wellness through public education...

July 16, 2020
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14Jul

China. Beijing raises retirement pensions

Beijing released a scheme to adjust basic pension for retirees, increasing 50 yuan ($7.13) per month for each person, according to the Beijing Municipal Human Resources and Social Security Bureau on Tuesday. The new scheme, which starts on Wednesday is expected to benefit nearly 3.97 million Beijing residents, including retirees of Beijing enterprises, government bodies and institutions. Wu Xiaojun, deputy director of the Beijing Municipal Human Resources and Social Security Bureau, said the adjustment of the basic pension will...

July 14, 2020
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13Jul

Australia. Low income earners get further support

Millions of Australians on pensions and low incomes are about to get cash hits from the government, which it hopes will give another boost to the coronavirus-hit economy. The second round of $750 payments for pensioners, veterans and carers will start going into people's bank accounts from Monday. It goes to about five million Australians at a cost of $3.8 billion. Treasurer Josh Frydenberg anticipates many will spend the money on everyday expenses like groceries, rent and bills. "This...

July 13, 2020
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10Jul

Society at a Glance

By OECD The OECD biennial report providing internationally comparable data on demography and family characteristics, employment and wealth, mobility and housing, health status, social expenditure, subjective well-being, social cohesion, and other social measures. Included are such interesting variables as suicides, child care costs, prisoners, gender wage gaps, poverty and mothers in employment. Get the book here

July 10, 2020
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10Jul

Constitutional Court rules benefits for pensioners are inappropriate in Latvia

The court admitted that a specific point of the 22 December 2009 Cabinet of Ministers requirements, which details the amount of the state social security benefit for unemployed persons and seniors as inconsistent with the Constitution. The Constitutional Court also concluded this requirement as null and void as of 1 January 2021. The ruling is final and is not subject to appeal. The challenged norm states the state social security benefit amount for persons disabled from childhood is EUR...

July 10, 2020
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07Jul

Canada. Department of Finance Announces Additional Relief Measures Amidst the COVID-19 Pandemic

The Department of Finance announced the release of proposed amendments to the Income Tax Regulations (Canada) that would assist registered pension plan (RPP) administrators and sponsors to manage and maintain their benefit obligations through the COVID-19 pandemic. The temporary relief measures that apply to RPPs are as follows: Extend the deadline to retroactively credit pensionable service: Pursuant to subsection 8308(4) of the Regulations, a member of a defined benefit provision of a pension plan may be permitted the option...

July 7, 2020
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03Jul

Annual Report on Financing Old Age Care in China (2017)

By Keyong Dong, Yudong Yao This book provides comprehensive analysis and descriptions of China's ageing finance system . China is undergoing the largest, fastest and longest process of population ageing in the world. It becomes a pressing challenge to the Chinese social security system in this era. Many developed countries have been going through this process. Pension and other financial tools have been studied and practiced for decades. China now is developing its own ageing finance systems by...

July 3, 2020
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03Jul

Protecting South Asia’s poor and vulnerable against COVID-19

By Lynne Sherburne Benz, Stefano Paternostro, Zaineb Majoka When India went into lockdown in late March as a result of COVID-19, one of the country’s biggest priorities was to ensure access to food. As millions risked starvation, the government mobilized its existing Public Distribution System (PDS) to give away food rations to over 800 million people, thus averting a catastrophic food crisis. As the coronavirus spreads exponentially across South Asia, food insecurity is just one of the many challenges...

July 3, 2020
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03Jul

Study on Shock-Responsive Social Protection in Latin America and the Caribbean – Guyana case study

By Sarah Bailey, Francesca Ciardi In the Caribbean and globally, links are being made between social protection and disaster risk management (DRM). Social protection programmes that provide assistance to households, and the systems that underpin these programmes, may have a role to play in preparing for, responding to and mitigating the impacts of shocks such as cyclones, floods, droughts and political and economic crises. This role for social protection goes beyond its core function of addressing the risks and...

July 3, 2020
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02Jul

Morocco to extend social protection to 2.5 million handicraftsmen

Some 2.5 million handicraftsmen and their dependents will finally have access to social protection after the government approved a law to enlist them in the private sector pension fund CNSS. The new law was presented by tourism and handicrafts minister Nadia Fettah Alaoui to MPs as part of a reform that aims to fill a legal void in the handicrafts industry. Handicrafts accounts for 7% of Morocco’s GDP and employs 20% of the work force with a concentration in...

July 2, 2020
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