Old-age pensions

Peru Allows Early Withdrawals from Mandatory Individual Accounts During Pandemic

Submitted by cambrosio on

elperuano.pe (08.05.2020)

On May 8, Peru implemented new rules allowing participants in the country's mandatory individual account program (Sistema Privado de Pensiones, or SPP) to make one-time early withdrawals from their accounts during the COVID-19 pandemic. The allowed withdrawal amount depends on a participant's account balance.

Regions / Country
peru
Global challenges
Topics
Old-age pensions

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Canada: Temporarily extending the Guaranteed Income Supplement and Allowance payments

Submitted by siha on

Canada.ca (16.06.2020) We are temporarily extending GIS and Allowance payments if seniors’ 2019 income information has not been assessed. This will ensure that the most vulnerable seniors continue to receive their benefits when they need them the most. To avoid an interruption in benefits, seniors are encouraged to submit their 2019 income information as soon as possible and no later than by October 1, 2020.

Regions / Country
canada
Global challenges
Topics
Old-age pensions
Service delivery
Social assistance

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Canada: Providing a one-time tax-free payment for Old Age Security and Guaranteed Income Supplement

Submitted by siha on

Canada.ca (06.06.2020) 

We are providing a one-time tax-free payment of $300 for seniors eligible for the Old Age Security (OAS) pension, with an additional $200 for seniors eligible for the Guaranteed Income Supplement (GIS).

This measure would give a total of $500 to individuals who are eligible to receive both the OAS and the GIS, and will help them cover increased costs caused by COVID-19.

You do not have to apply. This payment will be issued during the week of July 6.

Regions / Country
canada
Global challenges
Topics
Old-age pensions
Social assistance
Cash transfers
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Estonia: Suspension of second-pillar payments from 1 July 2020 to 31 August 2021

Submitted by siha on

Pensionikeskus (16.04.2020) From 1 July 2020 to 31 August 2021, the state will suspend the employer contributions to the second-pillar funded pension from social tax (4% of salary) . In addition, upon request, employee contributions (2%) can be suspended from December 1, 2020, through August 31, 2021.

 

Regions / Country
estonia
Global challenges
Topics
Old-age pensions
Contribution collection and compliance
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