Pensions

Pension dashboards are coming - action for occupational pension schemes to take now

Submitted by pmassetti on

Lexology (17.03.2022) Establishing a system of “pension dashboards” to enable individuals who have yet to take retirement benefits to find clear, standardised information about all their pension arrangements (including rights to state pension) in one place is a key element of the government’s pension strategy. The ambition is laudable but achieving it will be a mammoth task, requiring significant time and resource from occupational pension scheme trustees, pension managers and administrators.

Regions / Country
united kingdom
Topics
Pensions
Interoperability
E-services
Document Type

Promoting longer working lives in the digital era

Submitted by pmassetti on

LSE Business Review (11.02.2022)  High automation risk discourages older workers from remaining in employment. In technologically advanced countries such as Finland, generous unemployment benefits to people 59 and over ends up creating a retirement pathway. Simply pushing that age limit back increases the probability that older workers facing higher risk of automation will remain in employment.

Global challenges
Topics
Pensions
Document Type

The Right Recipe for Reforming Pensions

Submitted by pmassetti on

Project Syndicate (29.12.2021) Even though governments do not provide all pension income in most national systems, they have good reasons to be involved in reform efforts. And one of the best things governments could do is to ensure that workers have the information and financial education they need to make the best decisions about their retirement.

Topics
Pensions
Document Type

​Virus has created different economic system, says Finnish pensions chief

Submitted by pmassetti on

IPE (31.01.2022) The chief executive officer of the State Pension Fund of Finland (Valtion Eläkerahasto, VER), said the economic conditions brought about by the pandemic will stay with us, and with digitalisation and medicine as the key drivers of this new system, that is where governments need to allocate resources.

Regions / Country
finland
Topics
Pensions
Information and communication technology

Tags

Digital Economy Topical Cluster
Internal impact
Document Type

Understanding the Emerging Micropensions Market in India

Submitted by pmassetti on

Innovations for Poverty Action (2022) Millions of informal sector workers in low- and middle-income countries are excluded from formal pension and social security systems, posing potential economic challenges for old age populations. Micropensions may help to address these challenges—but more information is needed about the demand for these products. In India, researchers conducted a survey examining the emerging micropensions market to better understand the behavioral, economic, and institutional factors that influence participation.

Regions / Country
india
Global challenges
Topics
Pensions
Document Type

Leftist millennial Gabriel Boric, that vowed to reform pensions for the poor, is elected president of Chile.

Submitted by pmassetti on

 - Pension Policy International (20.12.2021) Leftist lawmaker Gabriel Boric, 35, on Sunday became Chile’s youngest-ever president on promises of installing a “welfare state” in one of the world’s most unequal countries.

Regions / Country
chile
Topics
Health
Pensions
Document Type

Jamaica: Informal Sector Workers to Get NIS Benefits

Submitted by pmassetti on

Jamaica Information Service (06.12.2021) For the first time, Jamaica’s household helpers and fisherfolk will be able to secure pension benefits under the National Insurance Scheme (NIS) as the Government moves to formalise these sectors. This will be facilitated under the Transition to Formality Action Plan, which will see this segment of workers being able to access health and life insurance, pension and other facilities to provide them with security and protection in their work environment. The Action Plan, which was officially launched by Minister of Labour and Social Security, Hon.

Regions / Country
jamaica
Topics
Pensions
Extension of coverage
Document Type

Ukrainian Pension System at the Crossroads

Submitted by pmassetti on

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
Document Type

Ghana. NPRA targets to rope in 11 million workers into pension schemes

Submitted by pmassetti on

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