Pensions

China's retirement age reforms not enough to fix pension headache

Submitted by pmassetti on
reuters (24.09.2024) China's move to raise retirement ages is a starting point to plug gaping pension deficits and bolster a shrinking workforce but more pain lies ahead as the economy slows, making further reforms urgent, say economists and demographers. Aging populations are a global phenomenon, but the issue is particularly stark in China due to the legacy of its one-child-policy, which was in place for three decades and has exacerbated its demographic challenges.
Regions / Country
china
Global challenges
Topics
Pensions
Document Type

Dutch pension funds to report CO2 reduction progress

Submitted by pmassetti on
ipe.com 817.09.2024) Pension funds should report annually about the progress they make in meeting their CO2 reduction targets. They must also provide more insight into their sustainable investments, Dutch pension regulator DNB announced on its website.
Regions / Country
netherlands
Topics
Pensions
Document Type

China to gradually raise retirement age

Submitted by pmassetti on
Xinhua (13.09.2024) Chinese lawmakers on Friday voted to adopt a decision on gradually raising the statutory retirement age in the country, marking the first adjustment in the arrangement since 1950s. According to the decision adopted at the 11th session of the Standing Committee of the 14th National People's Congress, the statutory retirement age for men will be gradually raised from 60 to 63 in the course of 15 years starting 2025, while that for women cadres and women blue-collar workers will be raised from 55 to 58 and from 50 to 55, respectively.
Regions / Country
china
Topics
Pensions
Document Type

Working till your 70s — Japan's prospective gift to the world

Submitted by pmassetti on
The Japan Times (05.09.2024) Japanese people are living longer, but with a struggling pension system and the highest inflation in decades, more are delaying retirement until their 70s or later to make ends meet. Japan has some of the longest lifespans in the world, with men living an average of 81 years and women 87 years. This longevity strains the nation’s pension system, making it a case study for other developed countries with similar demographic trends.
Regions / Country
japan
Global challenges
Topics
Pensions
Document Type

China plans "bigger, stronger"social security fund to aid ageing society

Submitted by pmassetti on
Reuters (20.08.2024) China will beef up its 2.88 trillion yuan ($406 billion) social security fund, making it bigger and stronger to help support its rapidly ageing population as the number of new births and younger workforce to support its seniors shrinks. The National Social Security Fund will "effectively" respond to population ageing and "improve the policy mechanism for the development of the elderly care industry," the fund's party secretary Ding Xuedong said.
Regions / Country
china
Global challenges
Topics
Pensions
Document Type

Pension Reforms and Inequality in Germany: Micro-Modelling

Submitted by pmassetti on
NBER (August 2024) Germany, like many other countries, has undergone a series of pension reforms since the 1980s which generally decreased benefit generosity and increased the retirement age due to demographic pressures. This paper investigates whether these reforms have increased income and wealth inequality among retirees.
Regions / Country
germany
Topics
Pensions
Document Type

The United States will need 7 million migrants to cover old age support programs for baby boomers

Submitted by pmassetti on
elpais.com (21.06.2024) The country’s aging population and low fertility rate jeopardizes the solvency of Social Security and the Medicare program, according to a new study by Brookings
Regions / Country
United States
Topics
Pensions
Document Type

EU: Pension adequacy report underlines importance of resilient European pension systems in the face of global challenges

Submitted by pmassetti on
European Commission (20.06.2024) The report highlights that European pension systems have protected retired Europeans’ living standards in the face of global challenges. Resilient public pensions, indexation, and redistribution mechanisms have maintained pension adequacy during crises. However, pensions are predicted to decrease, calling for reinforced policies to promote longer careers, healthy ageing policies, inclusive labour markets, and greater flexibility in retirement pathways.
Regions / Country
Europe
Topics
Pensions
Document Type

Making Pension Savings Easy and Efficient for Informal Sector Workers - Learning from Kenya’s Haba Haba Pilot

Submitted by pmassetti on
worldbank.org (21.05.2024) Haba Haba, which means “bit by bit” in Swahili, is a voluntary pension scheme in Kenya for workers in informal employment and promises to be a scheme through which they can slowly but surely save for their old age. The scheme, administered by the National Social Security Fund (NSSF) was launched as a pilot in 2019. Haba Haba allows for easy, anytime, anywhere savings by informal economy workers.
Regions / Country
kenya
Topics
Pensions
Document Type

South Africa - Two Pot Retirement System

Submitted by pmassetti on
(10.06.2024) The two-pot retirement system is a reform that will allow retirement fund members to make partial withdrawals from their retirement funds before retirement, while preserving a portion...
Regions / Country
south africa
Topics
Pensions
Document Type