Pensions

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

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

Submitted by pmassetti on

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.

Regions / Country
lebanon
Topics
Pensions
Document Type

Swiss pension reform: the latest changes - Pension Policy International

Submitted by pmassetti on

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
Topics
Pensions

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

Submitted by pmassetti on

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
Topics
Pensions
Document Type