April 2023

Parents drain their retirement savings helping their adult children

Parents invest so much of themselves, emotionally and financially, in raising their children — but the time comes when a parent has to stop subsidizing their adult children's everyday expenses. Think housing, health insurance, car payments, cell phones, credit cards, subscription services, student loans and travel. And, as it turns out, kids and parents don't agree on just when exactly that time should be. A new survey from Bankrate found that Gen Z adults (between the ages of 18 and 26)...

Why “aging in place” is a growth industry

Door widths, whether bathroom walls can support grab bars and the height of light switches are among the many items Dawn Mahiya checks when evaluating homes for her clients. As a certified aging in place specialist, Mahiya helps older people and people with disabilities figure out how to modify their homes to better fit their needs. Half of her clients, she said, are “people who are looking forward in their life … and the other half are generally their children who...

Chile. Pensiones: Edad de jubilación promedio cae tres años y esperanza de vida aumenta en diez

El estudio "Chile en 30 años" de Unholster en alianza con La Tercera, demostró que desde 1983 hasta la fecha los chilenos han reducido su edad de jubilación en tres años, mientras que la expectativa de vida aumentó en casi una década. Si bien la edad legal para pensionarse se mantiene fija desde la implementación del sistema previsional en 1981 (65 años para hombres y 60 para mujeres), en 1983 la edad promedio de los pensionados fue de 69 en...

Colombia. Álvaro Uribe, de frente contra la reforma pensional de Petro: “Habrá más dinero en el presente, pero más deuda futura”

Tal parece que el gobierno del presidente Gustavo Petro no se salvará del que se creía sería su mayor opositor: el expresidente Álvaro Uribe Vélez, quien ha criticado, sino todas, la mayoría de iniciativas que desde el Ejecutivo vienen promoviendo para el país. Los últimos cuestionamientos fueron dirigidos a la reforma pensional. Esta nueva andanada contra otro de los proyectos que radicó la ministra de Trabajo, Gloria Inés Ramírez, se suma a los dardos que Uribe ha enviado contra otras...

Perú. La larga agonía de las AFP

En el Congreso está por discutirse un nuevo retiro de los fondos de las AFP y estas lo resisten alegando que con ello se atenta contra las pensiones del futuro. El presidente del BCR, Julio Velarde, ha llamado  “locura” a dicha iniciativa. ¿Que los aportantes a las AFP puedan disponer de parte de su ahorro previsional aún arriesgando su futura pensión, es una mala idea? Depende. Así como es verdad que la pensión de mañana depende del ahorro de hoy,...

US. The healthcare system is unprepared for an aging population

A conservative estimate of 30,000 geriatricians will be needed to care for older adults by 2030, currently there is only about a quarter of that. The U.S. healthcare system must address the shortage of geriatricians -- and fast. The U.S. population is growing and aging, with an estimated 42% increase in those aged 65 and older between 2019 and 2034. The shortage of primary care providers in the U.S. means 17,800 to 48,000 fewer doctors will be available than needed within...

Nigeria. PenCom Warns Retirees Against Fraudulent Pension Group

The National Pension Commission (PenCom) says the activities of a group named Association of Pension Desk Practitioners of Nigeria (ASSOPEP) which claim to assist with pension and retirement benefits are fraudulent and illegal. Warning the public against doing business with the association, PenCom asked Nigerians to take cautious steps in seeking guidance on retirement benefits. “The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry...

India. Punjab Govt. Approved The Advance Payment Of Salaries And Pensions To Employees

On 07-04-2023, the Government of Punjab Finance Department issued a Notification concerning the Disbursement of Pay and Allowance in Advance for April 2023 Punjab. Due to Eid-ul-Fitr 2023, Punjab pensioners will also receive an advance pension for the month of April 2023. The Punjab Government will pay the April 2023 salary on April 17, 2023. Pay and Allowance Disbursement in Advance for Punjab Employees April 2023 Punjab The Governor of Punjab is pleased to approve the advance payment of pay and allowances...

UK. £1 million in savings are needed for a comfortable early retirement, experts say”

Savers hoping to retire early with a “comfortable” income will need a pension worth £1m – and to save more than £11,000 a year throughout their career to build up the pot. Early retirement is currently in vogue, with 565,000 workers having left the workforce since the start of the pandemic, according to the House of Lords. While the reasons behind the exodus are unknown, the primary driver is thought to be early retirement among those aged between 50 and...

Priorities for social security Trends, challenges and solutions

By Raúl Ruggia-Frick The International Social Security Association (ISSA) draws its value, strength and dynamism from its global membership, which consists of national institutions that administer the main social security programmes in their countries. This gives the Association a unique and privileged vantage point from which to identify and analyse priority administration and policy challenges in social security, and the many innovative responses and creative solutions to these. The ISSA was looking to the future when it set the priorities of...