Pensions

Germany debates raising retirement age to 70

Submitted by pmassetti on Tue, 08/30/2022 - 14:55

dw.com (August 2022) An aging population, a dramatic labor shortage and a pension pot shortfall are an explosive mix for German economy and society. Would raising the age of retirement to 70 kill all those birds with one stone?

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germany
Global challenges
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Pensions
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Ghana: SSNIT to embark on mass registration exercise

Submitted by pmassetti on Tue, 08/16/2022 - 16:20

modernghana.com (14.08.2022) The Social Security and National Insurance Trust (SSNIT) says it will soon embark on a mass registration exercise, especially among those in the informal sector to shore up its membership. The prime objective is to ensure many Ghanaian workers are enrolled onto the scheme as against the current situation where only 1.7 million out of the remaining millions of the workers are active members of SSNIT.

Regions / Country
ghana
Topics
Pensions
Document Type

UK. Minister calls on pension schemes to get “data ready” for dashboards

Submitted by pmassetti on Fri, 07/15/2022 - 15:36

Pension Policy International (14.07.2022) The calls come as the government publishes its response to a consultation which gathered feedback from industry, potential providers, consumer groups and future users on what data should be included and how this should be displayed to people. Bringing pensions into the digital age, dashboards will allow savers to see what they have in their various pensions – including their State Pension – in a single place online, at any time they choose.

Regions / Country
united kingdom
Global challenges
Topics
Pensions
Interoperability
E-services
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China to implement private pension system with a contribution cap of about $1,800 a year: report

Submitted by pmassetti on Fri, 05/20/2022 - 11:44

Global Times (21.04.2022) China will soon start a new era of "private pensions" with the imminent implementation of a relevant mechanism, according to a report by the Shanghai Securities News published on Wednesday. The new mechanism, which is characterized by policy support from the government, voluntary participation and market-oriented operations, will be an important transformation of the current pension system that has a basic pension insurance and a corporate pension.

Regions / Country
china
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Pensions
Document Type

[Opinion] This is why we’ll probably have to work longer than our parents did

Submitted by pmassetti on Fri, 05/06/2022 - 15:48

europeansting.com (06.05.2022) China’s plan to “gradually delay” the country’s legal retirement age has managed to unify a wide variety of people around a single sentiment: they don’t like it. As a country looking for ways to address the fact that it may not have enough workers paying into its pension system to support an ageing population, however, China is far from alone.

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Pensions
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Pension systems matter for wealth accumulation and distribution | VOX, CEPR Policy Portal

Submitted by pmassetti on Fri, 05/06/2022 - 15:18

Retirement saving is at the centre of the debate on rising income and wealth inequality. This column studies the role of the pension system in wealth accumulation and distribution in Denmark. The authors find that a pension reform in the late 1980s increased the savings rate and aggregate pension assets significantly by introducing mandated funded pensions. Moreover, it has had an equalising effect on the wealth distribution. The findings illustrate the importance of pension system design for the level and distribution of wealth. 

Regions / Country
denmark
Topics
Pensions

The post-pandemic prognosis for pension systems

Submitted by pmassetti on Thu, 05/05/2022 - 16:42

brookings.edu (03.05.2022) Pension systems around the world faced a “stress test” during the pandemic—what you might call the “pension pandemic paradox.” On the one hand, there was pressure to allow access to pension savings as emergency support during a period of sharp economic downturn. This was understandable, since for many people pension savings are their biggest financial asset. But, in some countries, this turned into unprecedented access beyond immediate emergency needs and put the pension savings system at risk.

Global challenges
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Pensions

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Japan eyes expansion of workers 'insurance scheme

Submitted by pmassetti on Tue, 04/26/2022 - 15:46

Pension Policy International (April 2022) The Japanese government is reportedly discussing plans to expand the coverage of its employee pensions and health insurance programs to all workers in the country. The proposal will be initially handled by a government panel of experts on Japan’s social security system for all generations, The Japan Times reported. In June, Tokyo plans to decide on the direction for the insurance system covering all workers and have it reflected in its honebuto, or basic economic and fiscal policy guidelines.

Regions / Country
japan
Global challenges
Topics
Health Insurance
Pensions
Document Type

Major reform of the Dutch Pension system

Submitted by pmassetti on Thu, 04/07/2022 - 17:37

Pension Policy International ((06.04.2022) On March 30, 2022 the Dutch government submitted draft legislation to reform the Dutch pension system, (the Bill) which is expected to come into effect on January 1, 2023. If the Dutch House of Representatives approves the proposal, it will go to the Senate where it is expected to pass. The deadline for transitioning to the new scheme is January 1, 2027 at the latest. This change will impact every employer with a pension scheme in place.

Regions / Country
netherlands
Topics
Pensions
Document Type