Pensions

Ukrainian Pension System at the Crossroads

Submitted by pmassetti on Fri, 11/05/2021 - 15:30

pravda.com.ua (01.11.2021) Ukraine is in the top 15 countries globally for the fastest ageing population and the State Budget has allocated about UAH 170 billion to cover pensions in the security and defence sectors, fund social contributions for some categories of people, allowances, increases to pensions and to bridge the deficit of the Pension Fund. The Ukrainian pension system stands at a crossroads and the recent COVID-19 crisis has only amplified the urgent need for reform.

Regions / Country
ukraine
Topics
Pensions
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Ghana. NPRA targets to rope in 11 million workers into pension schemes

Submitted by pmassetti on Fri, 10/01/2021 - 16:38

pensionpolicyinternational.com ( (01.10.2020) Mr Alhassan Yakubu Fuseini, the Tamale Zonal Manager of the National Pensions Regulatory Authority (NPRA), says the Authority plans to rope in 11 million workers in the formal sector onto pension schemes. He said as the NPRA works to achieve its target, it would also ensure that coverage for the informal sector was increased from the current three per cent to 40 per cent by 2026.

Regions / Country
ghana
Topics
Pensions
Document Type

Germany finally launches basic pension scheme

Submitted by pmassetti on Fri, 07/09/2021 - 16:32

Pension Policy International (09.07.2021) Germany’s basic pension scheme kicks off this July Shortly before the federal election in September, Germany’s coalition government is finally delivering on its promise to top-up insubstantial pension benefits to ensure a basic standard of living for all retirees who have contributed to the social security system. Under the new system, anyone who has contributed towards a German pension for at least 33 years will qualify for a basic pension. This includes not just time spent working, but also time taken out to raise a family or care for a relative.

Regions / Country
germany
Topics
Pensions
Document Type

Australia Considers Paying Pensions on Parental Leave Program

Submitted by pmassetti on Tue, 05/18/2021 - 16:37

bloomberg.com (14.05.2021) Australia could chip into the pension funds of eligible workers who take up its 18 weeks of paid parental leave, just not yet, amid criticism the government isn’t doing enough to ensure women are financially secure in retirement.

Regions / Country
australia
Topics
Family benefits
Pensions
Document Type

Almost half of Swiss workers choose early retirement

Submitted by pmassetti on Tue, 05/11/2021 - 17:19

pensionpolicyinternational.com (06.05.2021) The Federal Statistical Office (FSO) reported External linkthat in 2019 between 40-50% of people started receiving their pension from their so-called second pillar before the legal retirement age – 65 for men and 64 for women

Regions / Country
switzerland
Topics
Pensions
Document Type

Zanzibar responds to COVID-19 economic challenges with a 20% rise to their universal social pension

Submitted by cambrosio on Wed, 03/24/2021 - 16:41

helpage.org (22.07.2020)

The government decided to increase the monthly transfer of their universal social pension by 20 per cent. This is another bold step from the government, which follows on from becoming in 2016 the first country in the Eastern African region to offer social pensions to older people.

Regions / Country
tanzania
Global challenges
Topics
Old age Pensions
Pensions
Social assistance
Covid-19

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Canada: Québec (Canada) Introduces Occupational Pension Plan

Submitted by mmarquez on Thu, 02/25/2021 - 10:50

Social Security Agency (25.02.2021) On December 11, Québec's government approved a law introducing the Target Benefit Pension Plan (TBPP), an occupational pension plan that combines certain features of existing defined contribution (DC) and defined benefit (DB) plans. Like a DC plan, a TBPP is funded with employee and employer contributions paid at fixed rates and does not provide guaranteed benefits. However, by pooling its members' assets and setting a target benefit level, a TBPP can provide workers with a predictable periodic pension at retirement like a DB plan.

Regions / Country
canada
Topics
Old age Pensions
Pensions

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Mexico: Reforms to the Mandatory Account Individual Account Program

Submitted by mmarquez on Thu, 02/25/2021 - 10:34

Social Security Association (25.02.2021) On January 1, Mexico's government implemented reforms to the country's mandatory individual account pension program that include increasing employer contributions, adjusting government contributions, reducing the minimum contributions required for an old-age pension, boosting the guaranteed minimum pension, and capping administrative fees. The government finalized the changes on December 16, 2020, after reaching a reform agreement with Mexico's largest private-sector employer and trade union associations in July 2020.

Regions / Country
mexico
Topics
Old age Pensions
Pensions
Document Type