March 2022

China:National Pension Insurance Co receives green light to start operations
24Mar

China: National Pension Insurance Co receives green light to start operations

The CBIRC has given approval to the newly established National Pension Insurance Company to commence operations, making it the 10th standalone pension insurer operating in China. The business scope of the new company includes: annuity insurance, life insurance, accident insurance, health insurance; reinsurance business of the above-mentioned businesses; management of clients' yuan and foreign-currency denominated funds for the purpose of old-age security, etc. The National Pension Insurance Co is set up to serve as an impetus for the development of the...

March 24, 2022
News, Slider, , ,
Read more...
UK. Creating a sustainable retirement plan
24Mar

UK. Creating a sustainable retirement plan

ESG is becoming more commonplace within retirement strategies. Indeed, recent figures from Aviva, highlighted that an strong majority (72%) of pension savers consider such initiatives to be important when developing their long term financial plans. As such, more and more pensions schemes and businesses operating within the retirement industry are prioritising ESG above most other investment considerations. For example, the Universities Superannuation Scheme Britain’s largest pension scheme – announced plans to completely disinvest in companies involved with coal mining, tobacco...

March 24, 2022
News, Slider, , ,
Read more...
COVID pandemic fuelled 2021 population drop in 73% of U.S. counties
24Mar

COVID pandemic fueled 2021 population drop in 73% of U.S. counties

The toll of the COVID-19 pandemic was reflected in a natural decrease last year in the population of nearly three-quarters of U.S. counties versus the two previous years, the census bureau said on Thursday. Read also US. Milliman analysis: Competitive pension risk transfer buyout rate hits all-time low in February, at 98.9% More than 73% of U.S. counties experienced natural decrease, or an excess of deaths over births, up from 55.5% in 2020 and 45.5% in 2019, bureau data showed. Read also...

March 24, 2022
News, Slider, , ,
Read more...
US. Mixed Reports on Retirement Funding
23Mar

US. Mixed Reports on Retirement Funding

A defined benefit plan’s funded status is often cited as an indication of the plan’s financial health and there is good news on that score for the largest U.S. plans. A report from Willis Towers Watson shows that the estimated aggregate funded status of 361 Fortune 1000 companies improved to 96% at the end of 2021. That’s the highest level since 2007 and an increase of five percentage points from 2020. The analysis also found the funding deficit is...

March 23, 2022
News, Slider, , , ,
Read more...
23Mar

Chile plans to reform controversial pension program next year

The Chilean government will send a long-awaited bill to reform the country's controversial private pension system to congress next year, Finance Minister Mario Marcel said on Tuesday. Read also US. How to Improve Retirement Readiness in Under-represented Groups Reforming the current system, Pension Fund Administrators (AFP), was one of the biggest demands demonstrators had during the 2019 protests. One of the biggest complaints against the system is its low-paying pensions. Leftist President Gabriel Boric proposed eliminating the private system in favor of...

March 23, 2022
News, Slider, ,
Read more...
23Mar

Affordable childcare the key to boosting women’s retirement savings

More affordable early childhood education and care could help boost the superannuation of Australian women, who are currently retiring with one third less super than men. According to a new report from Industry Super Australia, increasing the child care subsidy for low- and middle-income families to 95 per cent and flattening taper rates, could see a woman on the median wage, if she moved from part-time to full-time work, retire with an extra $118,000. Industry Super Australia says improving women’s workforce...

March 23, 2022
News, Slider, ,
Read more...
23Mar

Australia. Five Million Pensioners And Jobseekers To Receive An Increase On Payments

Five million Australians will benefit from the largest increase in social security payments since 2013. Centrelink adjusts the maximum pension payment twice a year – in both March and September, to ensure payments to those in need are at the standard of rising costs. From 20 March 2022, the new increase will see a 2.1 percent raise for those on the Age Pension, Disability Support Pension and Carer Pension, resulting in a $20.10 boost per fortnight for singles and $30.20 a...

March 23, 2022
News, Slider, ,
Read more...
23Mar

How society aging threatens climate action

People 60 and older are responsible for a large and increasing share of greenhouse gas emissions in wealthy countries, according to a new study. This is due not just to the increasing numbers of people in this age group but to their lifestyles as well, hinting that aging populations may pose a challenge to climate action. Longer lifespans and declining birth rates in wealthy countries mean their populations are getting older. The share of the population aged 65 and older...

March 23, 2022
News, Slider, ,
Read more...
SEC proposes climate-related disclosures for public companies
22Mar

US. SEC proposes climate-related disclosures for public companies

The Securities and Exchange Commission on Monday proposed rule amendments to require public companies to disclose climate-related risks and greenhouse gas emissions. The commission approved the rule amendments in a 3-1 vote, with its lone Republican, Hester M. Peirce, dissenting. Under the proposal, public companies would be required to disclose a host of climate-related information in their registration statements and periodic reports, including: The oversight and governance of climate-related risks by the registrant's board and management. How any climate-related risks identified...

March 22, 2022
News, Slider, , ,
Read more...
Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT
22Mar

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT

The management of the Social Security and National Insurance Trust (SSNIT) has met with stakeholders to find ways to expand and deepen the coverage of the basic national social security scheme for the self-employed. Read also President Sisi approves 13% increase in pensions: Egypt’s PM This is because 10 million informal workers in the country are not covered by any social security. During a speech at the event, the Minister of Employment and Labor, Ignatius Baffour Awuah, praised the SSNIT leadership for...

March 22, 2022
News, Slider, , , ,
Read more...