Coverage Archives - Page 15 of 18 - Pension Policy International

15SepSeptember 15, 2020

Financial Access Challenges for Older Adults

By Joe Valenti In 2017, an estimated 8.4 million households in the United States, representing about 14 million adults, had no checking or savings account at a bank or credit union.1 This figure includes roughly 3.5 million households headed by someone age 50 or older.2 When combining this population—often called the unbanked—with households that have accounts but still use some alternative services such as check cashers or payday lenders, these numbers rise to nearly...

September 15, 2020

Pension design, Reports2020, Aging, Coverage, Payout

08SepSeptember 8, 2020

Philippines. 80% of senior citizens have no mandatory pension —Diokno

A huge majority of elderly Filipinos have no pension or retirement fund, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Tuesday. “Based on the latest report of the Philippine Statistics Authority, the Philippines has around 7.6 million Filipinos aged 60 years old and above,” Diokno said during the virtual launch of the digital Personal Equity Retirement Account (PERA), an investment tool for retirement. “Of this group, only 20% are covered by either SSS (Social Security System) or GSIS (Government...

September 8, 2020

News, Slider2020, Coverage, Philippines

20JunJune 20, 2020

Delivering DC? Barriers to Participation in the Company-Sponsored Pensions Market

By: Debbie Harrison, Alistair Byrne, David P. Blake. The report shows that pension providers and advisers are finding it increasingly uneconomic to market to small and medium-sized enterprises (SMEs) and are withdrawing rather than redoubling their efforts. This is an important and difficult issue for both government and private sector providers. SOURCE: @SSRN

June 20, 2020

Articles, Pension designCoverage, Europe, Occupational Pensions, UK

05JunJune 5, 2020

An Introduction to Pensionomics

By Mario Arturo Ruiz Estrada, Evangelos Koutronas Purpose – The purpose of this paper is to explore the concept of pensionomics as a prospective tool for pension evaluation. This paper suggests a paradigm shift – a multi-disciplinary synthesis of differing perspectives in evaluating pension’s overall performance based on past work on pension evaluation – incorporating non-economic variables with significant impact on economic growth and social development. Design/methodology/approach – This paper suggests a new analytical tool called “Pensions Consistency (PC)...

June 5, 2020

Articles, Pension design2020, Adequacy, Coverage, System sustainability

01MayMay 1, 2020

Costs and Potential Funding of Expanded Public Pension Coverage in Asia

By Peter Morgan, Long Q. Trinh Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly ageing populations, which will raise pension and other old‐age‐related spending dramatically. Second, as economies develop, political pressures to expand the coverage of public pensions and raise pension benefits will likely increase. The first objective of this...

May 1, 2020

Articles, System Sustainability2020, Asia, Coverage, Public Pensions

27DecDecember 27, 2019

The Pan-European Pension Product Regulation: A Huge Opportunity for the Luxembourg Fund Industry

By Sebastiaan Niels Hooghiemstra Currently, there is a dynamic and ongoing improvement in life expectancies that is not accounted for in pension systems designed to provide financial security in retirement. All over Europe, there are currently employment-based (2nd pillar) pension funds and first pillar pay-as-you-go (PAYG) state pensions systems that are facing huge funding deficits as a result of that. Recently both the EU parliament and the EU Council took their stance on the introduction of an European legal...

December 27, 2019

Articles, Pension design, Pension Management2019, Coverage, Europe, Investing

18NovNovember 18, 2019

Millions Of Kenyans Missing Out On Pension Schemes, Warns NSSF

About 15 million Kenyans who are eligible to make saving towards retirement benefits are not enrolled with any pension scheme, the National Social Security Fund (NSSF) has revealed. The Fund’s Managing Trustee Antony Omerikwa observed that most pension schemes registered by the Retirement Benefits Authority (RBA) focused on covering employees of state corporations, companies and individual owned organizations. Omerikwa stated that though the bulk of Kenyans were engaged in the informal sector, pension schemes in the country had done little to...

November 18, 2019

News, SliderCoverage, Public Policy

17OctOctober 17, 2019

UK. Breaking pension dashboard rules will carry £50k fine

Pension providers that fail to provide data for the pension dashboards could be fined up to £50,000 by The Pensions Regulator, according to the proposed legislation underpinning the project. Part of the Pension Schemes Bill is devoted to the creation of a framework to support the dashboard project, including new rules to compel pension schemes to provide accurate information to consumers. According to the 187-page document, published yesterday (October 16), the regulator will have powers to issue compliance notices and penalty notices to parties that don’t...

October 17, 2019

News, SliderCoverage, UK

16OctOctober 16, 2019

Kenya. Pensions uptake low as returns increase

The country’s pension penetration remains at a 15 per cent low despite returns growing at an average 10.7 per cent annually over the past six years. According to a report by Cytonn Asset Managers the retirement benefits assets under management in the pension funds industry grew eight per cent to Sh1.2 trillion as of December 2018. The report shows fund managers are still relying on traditional, low-risk assets such as government securities and equities which cumulatively accounted for 56.7...

October 16, 2019

News, Slider2019, Coverage, Kenya

29JulJuly 29, 2019

Extending Pension Coverage to the Informal Sector in Africa

By Melis Guven & Ernesto Brodersohn The coverage of pension systems in the Africa region is limited to the small segment of the population in the formal sector. Coverage is thin partly because traditional contributory pension schemes are not responding to the needs of the informal sector. As a result, a large share of the region’s adult population has no access to contributory pension schemes during their working lives. This means they will not be eligible for a pension....

July 29, 2019

Articles, Labor Market, Operation, Pension design2019, Africa, Coverage, Financial Inclusion, Technology

September 2020

Financial Access Challenges for Older Adults

Philippines. 80% of senior citizens have no mandatory pension —Diokno

June 2020

Delivering DC? Barriers to Participation in the Company-Sponsored Pensions Market

An Introduction to Pensionomics

May 2020

Costs and Potential Funding of Expanded Public Pension Coverage in Asia

December 2019

The Pan-European Pension Product Regulation: A Huge Opportunity for the Luxembourg Fund Industry

November 2019

Millions Of Kenyans Missing Out On Pension Schemes, Warns NSSF

October 2019

UK. Breaking pension dashboard rules will carry £50k fine

Kenya. Pensions uptake low as returns increase

July 2019

Extending Pension Coverage to the Informal Sector in Africa