Pensions

Canada: Québec (Canada) Introduces Occupational Pension Plan

Submitted by mmarquez on

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

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

EPF i-Sinar Account 1 withdrawal: Here's everything you need to know

Submitted by pmassetti on

The Employees Provident Fund (EPF) has revealed full details for the i-Sinar program which will allow eligible members to make withdrawals from Account 1. The i-Sinar program was introduced to assist members who are affected by the current pandemic situation. Affected members who wish to take out funds are able to apply online starting from 21st December 2020.

Regions / Country
malaysia
Topics
Pensions

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Switzerland: Government hopes for ‘first successful pension reforms’ of the century

Submitted by pmassetti on

swissinfo.ch (25.11.2020) The reform of the occupational pension scheme is intended to secure the pension level, strengthen financing and improve the protection of part-time employees and thus especially women, Interior Minister Alain Berset said at a press conference on Wednesday. He said he hoped it would be the first successful pension reform in the 21st century.

Regions / Country
switzerland
Topics
Pensions
Document Type

Iceland: Support for disability pensioners

Submitted by siha on

Government of Iceland (20.11.2020) A one-time payment of ISK 50,000 will be made before 18 December to recipients of disability and rehabilitation pensions who are eligible for pensions during the year, in addition to the December supplement that is usually paid during the month.

Regions / Country
Europe
iceland
Topics
Disability
Pensions
COVID-19
Document Type