State Pensions Archives - Page 5 of 11 - Pension Policy International

08SepSeptember 8, 2023

UK. Triple lock could add £45bn a year to state pensions bill by 2050, IFS says

Maintaining the triple lock on state pensions could add as much as £45bn a year to the welfare bill by 2050, putting “insurmountable pressure” on the government to increase the minimum retirement age, according to the Institute for Fiscal Studies. In a report published ahead of the release next week of official data for earnings growth, which will be used to set the annual increase in pensions, the IFS estimates spending on retirees could rise by a further £2bn from...

September 8, 2023

NewsFunding, State Pensions, UK

27JunJune 27, 2023

UK. State pension could jump by 18% in two year window

State pensions could rise by 7% to £11,342 in 2024, paving the way for close to an 18% jump in two years, according to Bank of England inflation forecasts. Under the triple lock scheme, state pensions are required to increase annually at the same rate of whichever is highest out of the inflation rate in September, earnings between May and June or 2.5%. Predictions made by the Bank of England show inflation dropping from 8.7% to 7% in September, the month...

June 27, 2023

NewsInflation, State Pensions, UK

14JunJune 14, 2023

UK. Govt extends National Insurance contribution deadline

The government has extended the deadline for paying voluntary National Insurance contributions by nearly two years, with taxpayers to be given until 5 April 2025 to boost their state pension entitlement. According to the government announcement, the extension aims to ensure that people have more time to properly consider whether paying voluntary contributions is right for them and ensure that no-one misses out on the possibility of boosting their state pension entitlements. The original deadline was extended to 31 July 2023...

June 14, 2023

NewsRegulation, State Pensions, UK

12MayMay 12, 2023

South Africa. Distribution of military veterans’ pensions gains momentum

The Defence and Military Veterans Department says the pension payout for military veterans, who do not have any income, is going full speed ahead. “We have noted the confusion and uncertainty created by the lack of clarity on the part of the Department of Military Veterans officials in their interaction with Parliament’s oversight committee on Defence and Military Veterans,” the department said on Thursday. However, the department clarified that the distribution of the pension is being implemented through the Government Pension...

May 12, 2023

NewsPension Payout, South Africa, State Pensions

27AprApril 27, 2023

Senegalese veterans to return home after French government u-turn on pensions

Eight veteran Senegalese riflemen will be finally returning home for good this Friday, after President Emmanuel Macron's government in January lifted a six-month residency condition for their military pension. For 95-year-old Yoro Diao, after nearly 20 years of living thousands of miles from his family, he is happy to leave his tiny studio in a suburb of Paris, to return to his family. “This is a victory, a second victory after the war. We are allowed to go home while receiving...

April 27, 2023

NewsPension Payout, Regulation, State Pensions

21AprApril 21, 2023

Management of Retirement Funds by Republican vs. Democrat States: Understanding the Differences

By Mustafa O. Caglayan, Edward R. Lawrence & Robinson Reyes-Peña As most of the state pensions in the USA deal with their respective funding crisis, we compare the management approaches undertaken by funds located in the states that are governed by Republicans vis-à-vis funds that are located in states governed by Democrats. We find that pension funds located in states governed by Republicans display a lower funding ratio compared to the pension funds located in states governed by Democrats. The...

April 21, 2023

Articles, Pension Management2023, Funding, Investment, Risk, State Pensions, US

30MarMarch 30, 2023

Kenya. MPs revive attempt to raise pension for former members

Parliament has revived a Bill rejected by former President Uhuru Kenyatta to increase pension for members who retired between 1984 and 2001. The Bill republished by Kimilili MP Didmus Barasa shows it will cost taxpayers an extra Sh180.9 million every year to keep former MPs who retired between July 1, 1984, and January 1, 2001, comfortable. The Budget and Appropriations Committee (BAC) heard that should the Parliamentary Pensions (Amendment) Bill 2022 sail through, the former legislators will earn a monthly pension...

March 30, 2023

NewsKenya, State Pensions

02MarMarch 2, 2023

US. State pension fund officials are getting flown business class to Japan and taking ‘White Lotus’ style Italy trips on private equity’s dime

Two Michigan pension fund officials attended a 2018 Apax Partners event at the Four Seasons Hotel in Florence, Italy, that featured “custom tailored activities and itineraries,” including tours of the Tuscan countryside on vintage Vespa scooters and a gala dinner at the 17th Century Villa le Corti. The bill for the state: less than $200 for each official, according to public records obtained by Bloomberg. And Michigan is hardly alone in letting private equity firms foot most of the bill...

March 2, 2023

NewsState Pensions, US

24FebFebruary 24, 2023

Ireland. Majority expect to have to rely on the State pension when they retire

MOST workers expect to have to rely on the State pension when they retire. Some 57pc of workers say the State pension will be their main source of income. The State pension was cited as the expected main source of income on retirement for nearly six in ten workers with no pension coverage, Central Statistics Office research has found. The Government is planning to bring in an auto-enrolment pension scheme to supplement the State pension for thousands of workers who have no...

February 24, 2023

NewsAging, Ireland, State Pensions

05JanJanuary 5, 2023

France’s African ex-soldiers win last battle – over pensions

Some of the last survivors in France from a colonial-era infantry corps that recruited tens of thousands of African soldiers to fight in French wars around the world will be able to live out their final days with family members back in Africa after a French government U-turn on their pension rights. The decision to make claiming their pensions easier follows a years-long campaign on behalf of the “tirailleurs Sénégalais,” who were recruited to fight from Senegal and other former...

January 5, 2023

NewsFrance, State Pensions

September 2023

UK. Triple lock could add £45bn a year to state pensions bill by 2050, IFS says

June 2023

UK. State pension could jump by 18% in two year window

UK. Govt extends National Insurance contribution deadline

May 2023

South Africa. Distribution of military veterans’ pensions gains momentum

April 2023

Senegalese veterans to return home after French government u-turn on pensions

Management of Retirement Funds by Republican vs. Democrat States: Understanding the Differences

March 2023

Kenya. MPs revive attempt to raise pension for former members

US. State pension fund officials are getting flown business class to Japan and taking ‘White Lotus’ style Italy trips on private equity’s dime

February 2023

Ireland. Majority expect to have to rely on the State pension when they retire

January 2023

France’s African ex-soldiers win last battle – over pensions