February 2025
26Feb

UK. U-turn shows pitfalls of unpicking pensions triple-lock

A pensions timebomb is ticking on the Isle of Man and the self-governing island off the UK's west coast came very close to defusing it last week. Like the UK, the island protects state pensions with the triple lock, which automatically increases the state pension each year by the maximum of three measures: price inflation, average earnings or 2.5%. The Isle of Man's government wanted to scrap the triple lock for some pensioners in its budget last week. But ministers were forced...

February 26, 2025
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20Feb

Sustainability has a very different meaning when retirement is around the corner

Sustainability: it’s a buzzword that won’t stop buzzing. Even in financial services, the concept exists, whenever there’s talk about maintaining an income, bank balance or savings account. It’s also a key component of one of the biggest goals in life — retirement. “Many retirees and pre-retirees worry about having enough retirement income to maintain their desired lifestyle, fearing they may outlive their savings,” says Hostplus senior financial planner Bahar McLeod. “This often leads to a reluctance to spend their savings...

February 20, 2025
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17Feb

Over 20% of Bulgaria’s Pensioners Cannot Afford Basic Necessities

According to Eurostat data, 22.4% of Bulgarians aged 65 and older experience severe material deprivation, meaning they are unable to afford at least seven out of thirteen basic items necessary for a decent quality of life. These essentials include things like replacing worn-out clothes, having some personal spending money each week, renewing old furniture, going on an annual vacation, or handling unexpected expenses. Only Romania has a higher percentage of pensioners in such deprivation, with 23.7% affected. On average, however,...

February 17, 2025
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10Feb

UK. MPs approve £6.9bn hike in spending on pensions and benefits

MPs today approved a £6.9billion hike in spending on state pensions and benefits from April. Orders supported by the House of Commons included a 4.1 per cent increase to the state pension under the terms of the 'triple lock'. This ensures payments rise each April in line with whichever is highest out of average earnings growth, inflation or 2.5 per cent. The increase for 2025/26 was pegged to wages, which rose by 4.1 per cent in the relevant period last year. It means, from...

February 10, 2025
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January 2025
31Jan

Allianz Global Pension Report 2025: Time to walk the talk

By Allianz Research  Allianz published the third edition of its “Global Pension Report”, which analyzes 71 pension systems around the globe with the help of the company's own “Allianz Pension Index” (API). The indicator consists of three pillars: analysis of the demographic and fiscal situation, and an assessment of the sustainability (e.g. financing and contribution periods) and adequacy (e.g. coverage and pension levels) of the pension system. A total of 40 parameters are taken into account, with scores between 1...

January 31, 2025
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31Jan

South Africans face the prospect of retiring at 80

Based on data from over 300 000 Sanlam Umbrella Fund members. While 65 remains the official retirement age, most South Africans will need to work until 80 before they can afford to retire comfortably. This is according to data from Sanlam Corporate, based on insights into its over 300 000 Sanlam Umbrella Fund members. The company’s research highlights a growing retirement funding crisis, with estimates that only one in four South Africans will be able to retire at 65. Sanlam Corporate CEO Kanyisa...

January 31, 2025
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28Jan

Russia Announces Major Pension Indexation Updates

Russian President Vladimir Putin recently announced significant updates to the pension indexation system, which will take effect from January 2025. These changes aim to adjust pension payments based on actual inflation rates, enhancing the financial support available to millions of retirees across the country. Starting January, the insurance pensions for both working and non-working pensioners were initially indexed by 7.3%. Recognizing the necessity for more substantial support amid rising inflation, Putin proposed to retroactively increase the indexation to 9.5% effective...

January 28, 2025
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27Jan

2025 Pension Updates And Tax Changes Impact Mexican Retirees

Pension payments now subject to taxes after surpassing new UMA thresholds starting this year. Every year at the start of January, the value of the Unidad de Medida y Actualización (UMA) increases, leading to adjustments in the exempt amounts for pension payments. Recently, it was announced once again the increment of this measure, which is pivotal for various obligations and taxes levied by both the federal government and the states. The UMA not only plays a role in determining tax...

January 27, 2025
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27Jan

Iran Protests: Nationwide Demonstrations Highlight Economic Injustice and Suppression

Today, January 27, 2025, protests erupted across multiple cities in Iran today, as retirees, farmers, workers, and defrauded citizens rallied against the regime’s economic mismanagement, systemic corruption, and oppressive tactics. Demonstrations highlighted a variety of grievances, from pensions and wages to access to water rights and freedom from arbitrary arrests. In Zanjan, northwest Iran, retirees from the Telecommunication Company of Iran (TCI) resumed their protests, calling for higher pensions and an end to mismanagement. Similar protests were held in Ahvaz, southwest Iran,...

January 27, 2025
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24Jan

Is Care Affordable for Older People?

By Organisation for Economic Co-operation and Development With population ageing, the demand for helping older people with daily activities – so-called long-term care – is set to increase across OECD countries by more than one-third by 2050. Older people with long-term care needs are more likely to be women, 80-years-old and above, live in single households, and have lower incomes than the average. Currently, across OECD countries, publicly funded long-term care systems still leave almost half of older people with...

January 24, 2025
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