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October 2019

14Oct

US. Only half of Gen Xers have a retirement account, and that’s a catastrophe in the making

Millennials may bear the brunt of bad press, but Gen X is arguably in worse financial shape. Insider recently teamed up with Morning Consult to survey 2,096 Americans about their financial health, debt, and earnings for its new series, "The State of Our Money." Of the total respondents, 566 were Gen X, defined as ages 39 to 54 this year. According to the survey, exactly half of Gen Xers don't have a retirement savings account. That's only slightly less...

October 14, 2019
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08Oct

Japan. Excessive concern over public pension

The Health, Labor and Welfare Ministry’s Social Security Council in late August released its report to examine sustainability of the public pension system every five years. This time, the report received particular attention since it followed the recent controversy as to whether public pension benefits are enough to cover people’s retirement expenses. However, misguided comments on the issue flooded social media and blogs, and some of the mass-media reports tended to present a one-sided coverage. Read also Japan. World’s Largest...

October 8, 2019
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07Oct

Zimbabwe. Pensioners to get express cash

The Government is working with the Reserve Bank of Zimbabwe and banks to ensure that pensioners access cash for their pension payouts. The country has been experiencing cash shortages that have seen members of the public literally camping at banking institutions who are failing to satisfy their clients. The hardest hit, however, are pensioners, with some now being forced to sleep on bank pavements for more than a night in anticipation of cash. Minister of Public Service, Labour ...

October 7, 2019
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03Oct

Why the tone of doom for Europe’s ageing?

The EU’s ageing problems can’t be stopped by either fertility or migration. But labour participation and education trends offer clear reasons for optimism, writes Nicholas Gailey.​ In prosperous countries – including every single EU member state – long life spans and low birth rates are driving the average age upward. This byproduct of medical success and personal choice has set the stage for labour force decline, risking Europe’s ability to support itself. Many prominent voices clash over ways to...

October 3, 2019
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03Oct

US. The New Realities Of Work And Retirement

Bob Orozco barks out instructions like a drill sergeant. The 40 or so older adults in this class follow his lead, stretching and bending and marching in place. It goes like this for nearly an hour, with 89-year-old Orozco doing every move he asks of his class. He does that in each of the 11 classes he teaches every week at this YMCA in Laguna Niguel, Calif. "I probably will work until something stops me," Orozco says. He may...

October 3, 2019
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02Oct

Cuba’s works to address population ageing

The statistics speak for themselves: almost 30 percent of the Cuban population will be over 60 by the end of the next decade. There are several causes for this fact. The increase in life expectancy, which has reached 78 years for men and 82 for women, according to the basic indicators published by the Pan American Health Organization (PAHO) in 2018, as well as low levels of sustained fertility and a demographic dynamic marked by a negative net migration...

October 2, 2019
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02Oct

Global aging crisis: We’re all getting on

People on the planet are getting older. Developed countries are already struggling to deal with rapidly aging populations. According to demographic information released recently by the United Nations, by 2050 one of every six people alive will be over 65. To consider this phenomenon, let’s analyze the populations of three large, industrialized countries — the U.S., Japan and China. The life expectancy of Americans in the year 1900 was only about 47. Today it’s about 79, an increase of...

October 2, 2019
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September 2019

26Sep

Fear of Retirement Poverty Drives Japanese to Private Pensions

Japanese households are rushing to private retirement products after a government report fueled fears that the national pension system won’t be enough to support them during old age. SBI Securities Co. and Monex Group Inc. have seen applications for defined contribution pension plans surge since the report was released in early June. The document, published on the Financial Services Agency’s website, sparked angst after showing that a couple in their sixties may need as much as 20 million yen...

September 26, 2019
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25Sep

Ageing right in Taiwan

The world’s population is getting older and in some places — especially Taiwan — at a relatively quick pace. Nine per cent of the world’s population is over 65 years old. In East and Southeast Asia, that figure jumps to 11 per cent. In Taiwan, 14 per cent of the population is over the age of 65 and will reach 20 per cent by 2026. Meanwhile the working population, aged between 15–64 years, peaked in 2015 and began shrinking...

September 25, 2019
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23Sep

Zimbabwe. NSSA to effect upward review of pension payouts

The National Social Security Authority (NSSA) will soon effect an upward review of pension payouts to improve the welfare of pensioners and cushion them from the economic challenges. This follows a Government decision in July this year, to award a once off discretionary bonus equivalent to a month’s pension to cushion pensioners from the general increase in the cost of living. The actual percentage increases could, however, not be ascertained this week, as NSSA is still in the process...

September 23, 2019
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