October 2024
30Oct

8.1 Million Ghanaian workers not covered by pension scheme – Prof. Abdallah Mashud

The Executive Director of the Africa Centre for Retirement Research (ACRR), Professor Abdallah Mashud, has disclosed that as of last year, 2023, approximately 8.1 million Ghanaian workers were not covered by any form of pension scheme. Speaking on Joy News’ AM Show on Tuesday, October 28, 2024, with Benjamin Akakpo, the renowned social security expert described the situation as problematic. He was discussing the 2024 pension manifesto of the two major political parties: the National Democratic Congress (NDC) and the New Patriotic Party...

October 30, 2024
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25Oct

Kenya. Workers in informal sector to receive regulated wages, pension in new govt plan

The government has announced that workers in the informal sector will soon begin saving for their retirement and receive medical coverage through an expanded social protection programme. Speaking on Thursday during the launch of a social protection project funded by China in Nairobi, Labour and Social Protection Cabinet Secretary Alfred Mutua said the new plan, which is set for immediate implementation, is expected to benefit Kenya's 16 million informal-sector workers. This will be done by introducing regulated minimum wages and mandating...

October 25, 2024
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18Oct

Platform workers: a new era of labour protection in Singapore

The Platform Workers Act coming into effect on 1 January 2025 will be a game-changer in Singapore’s labour landscape.  It marks a significant step towards recognising the unique circumstances of platform workers and providing them with essential protections. As one of the first countries to establish specific safeguards for this growing workforce, Singapore is demonstrating its commitment to adapting labour laws to the evolving digital economy. Understanding Platform Workers and Platform Operators The Act defines “platform workers” as individuals who contract...

October 18, 2024
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10Oct

How many Canadians are gig workers?

More than one in five (22%) Canadians are participating in gig work of various kinds across the country. That equates to about 7.3 million adults finding work outside of regular employment. And they are doing it for a variety of reasons, reports Securian Canada, with more than half (57%) — or roughly four million people — relying on this type of work to supplement their primary income. Nearly three-quarters (73%) of all gig workers are either employed full-time or part-time outside...

October 10, 2024
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09Oct

New ILO report highlights urgent need for improved labour and social protection for domestic workers in ASEAN

A new report by the International Labour Organization (ILO) highlights the critical need to improve labour and social protection for domestic workers across the 10-member Association of Southeast Nations (ASEAN) region. The report entitled Labour rights and social protection coverage for domestic workers in ASEAN  finds that despite their essential role in supporting households and economies, domestic workers, many of whom are women and migrants face significant gaps in protections that affect their well-being and economic security. There are about 38.3 million domestic...

October 9, 2024
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07Oct

US. People delaying retirement to get Medicare. Is it worth it?

I started my career with ING. After five years, I was convinced I would finish my career there. They spun off in the U.S. and, after year six, I found a new home. After five years at my new firm, and after becoming an owner, I was convinced I would finish my career there. In year eight, I sold my shares back to start my own firm. The point is that things don’t always go as planned. According to the Employee...

October 7, 2024
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03Oct

What strategies are working to increase pension coverage?

It’s no surprise that people are living longer and retiring later. Last week’s Association of Canadian Pension Management (ACPM)’s annual national two-day conference held in Kelowna, BC offered Canadian pension plan sponsors, administrators, trustees, asset managers and other retirement income system leaders a look into the organizations in Canada and around the world who are employing a range of strategies to increase pension coverage and improve retirement outcomes for Canadians. Global Pension Index David Knox, senior partner and senior actuary for Mercer...

October 3, 2024
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September 2024
27Sep

Pension Coverage and Informal Sector Workers: International Experiences

By Yu-Wei Hu & Fiona Stewart  Pension reform around the world in recent decades has focused mainly on the formal sector. Consequently, many of those working in the informal sector have been left out of structured pension arrangements, particularly in developing countries – a serious problem given this group are often low income earners, vulnerable to economic volatility and change. However, since the turn of the millennium, efforts in a range of countries have increasingly highlighted improving pension coverage for...

September 27, 2024
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27Sep

Only 26% of Nigerian workers have pension plan and health insurance- NBS Report

The Nigeria Labour Force Survey published by the National Bureau of Statistics (NBS) reports that only 26.3% of Nigerian workers have a pension plan and health insurance in 2023. The report noted that Zamfara state in the Northwest recorded the highest number of employees with health insurance and pension at 65% while Abia had the lowest number of wage employees with health insurance and pension plan at just 3.9%. The report states, “The percentage of employees entitled to either pension or health...

September 27, 2024
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09Sep

India. Social security benefits for gig workers likely to be on fast-track: Report

The Indian government plans to advance the launch of social security benefits for workers employed in unorganised sectors potentially before the full implementation of the comprehensive Social Security Code, according to a report by The Economic Times. This development follows efforts by several states to introduce similar provisions within their local laws. The Ministry of Labour and Employment has been engaged with aggregators operating in digital marketplaces for gig work, urging them to prepare for the extension of social security benefits...

September 9, 2024
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