Pensions

Pension Reform in Lebanon: Good Intentions, Uncertain Outcomes - Carnegie Endowment for International Peace

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Carnegie Endowment for International Peace (15.05.2024) Amid an ongoing economic and fiscal crisis, Lebanon’s Parliament has approved a major reform to the country’s pension system. But it is likely to face challenges related to benefits, solvency, and coverage.

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lebanon
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Pensions
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Swiss pension reform: the latest changes - Pension Policy International

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These are the most important changes since January 1, 2024: – Expansion of the flexibility of pension payments – Incentives for gainful employment after 65 – Raising the retirement age (now called the reference age) for women to 65 (from January 1, 2025) On September 25, 2022, the Swiss electorate approved the reform package to stabilise the pension scheme. This aims to secure and maintain the level of old-age pensions, ensure the financial balance of the system over the next decade and meet the need for flexibility.

Regions / Country
switzerland
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Pensions

Retiring in your 60s is becoming an impossible goal. Is 75 the new 65?

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bbc.com (08.04.2024) People are living longer, and daily life is getting more expensive. It may be time to rethink the timeline for leaving the workforce. Handing in your proverbial badge as a sexagenarian has been the goal for many workers around the world: turning 65 would open a golden portal to retirement. Yet increasingly, the idea of stepping away from the workforce in your 60s doesn't seem realistic – or even sensible – for many people, especially now. Some major financial figureheads agree.

Global challenges
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Pensions
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Ireland: Up to 800,000 workers to be automatically enrolled in pension scheme under new plans

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SundayWorld.com (05.04.2024) Up to 800,000 workers will be automatically enrolled into a pension scheme for the first time under new legislation published today. Workers who have no occupational or private pension and would have otherwise been solely reliant on the State Pension upon retirement will have access to the scheme under the bill. Employees aged between 23 and 60 years old, who earn over €20,000 per year and who are not already paying into a pension scheme, would automatically be enrolled.

Regions / Country
côte d'ivoire
Topics
Pensions
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Portugal: Automatic Pension Scheme to be Approved

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theportugalnews.com (30.03.2024) Heather Humphreys, the minister for social protection, has outlined her plan to implement the much-anticipated pension auto-enrolment programme for workers. Under the plan, businesses would match employee contributions with an additional €3, meaning that the State will contribute €1 for every €3 an employee contributes to their pension account. Workers between the ages of 23 and 60 who are not currently registered in a pension plan will be enrolled automatically.

Regions / Country
portugal
Topics
Pensions
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East Asian societies have the world’s lowest birth rates—and are learning that ‘throwing a bit of money’ at the problem isn’t solving anything

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finance.yahoo.com (12.03.2024) Governments across Asia—in Singapore and Beijing, Tokyo and Seoul—are facing a crisis: plummeting birth rates. For several decades now, people in East Asian economies have had fewer and fewer children. Last year, South Korea beat its own record for having the world’s lowest birth rate, reporting 0.72 births per woman for 2023, down from 0.78 in 2022. Singapore reported 0.97 births per woman, the first time the rate has fallen below one. Japan has one of the world’s oldest populations, with a median age of 49.5.

Regions / Country
Asia
Global challenges
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Pensions
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Les Suisses votent pour un 13ème mois de pension

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la-croix.com (03.03.2024) La Suisse, dont la population vieillissante est confrontée à un coût de la vie en hausse, a voté dimanche en faveur d'un 13ème mois de retraite, un pas "historique" selon ses défenseurs, mais a rejeté le relèvement de l'âge du départ.

Regions / Country
switzerland
Topics
Pensions
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World Bank Urges Malaysia to Mandate Retirement Savings for Digital Platform Workers

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bnnbreaking.com (26.02.2024) The World Bank recommends mandatory retirement savings for digital platform workers in Malaysia to safeguard informal workers in the gig economy. Explore the challenges faced by informal workers and the government's response to ensure economic security.

Regions / Country
malaysia
Topics
Pensions
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Vietnam's workers cash out pensions early ahead of new law

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Vietnam is amending its pension laws in an attempt to deter people from abandoning the fund before retirement. Yet in some quarters, the pending change is having the opposite effect. Many workers critical to the world’s electronics and clothing supply chains were already taking early payouts to deal with hardships, such as those brought on by the pandemic. Now, more of them are getting jittery after hearing the upcoming law could cut payouts in half, and the communist country is weighing ways to keep workers in the system, from TikTok campaigns to legal incentives.

Regions / Country
vietnam
Topics
Pensions

South Africa’s ageing population comes with new challenges. How best to adapt to them

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theconversation.com (21.01.2024) Young people – under the age of 15 – currently make up 29% of South Africa’s population. But this will soon change: the aged portion of the population is forecast to rise from 2030, bringing many challenges. Lauren Johnston, an economics and political economy expert, recently published a paper on the subject. We asked her to put the developments into perspective.

Regions / Country
south africa
Global challenges
Topics
Pensions
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