Coverage Archives - Page 5 of 17 - Pension Policy International

10NovNovember 10, 2023

In search of financially sustainable pension systems: three benchmark models

By Ekaterina Cuéllar, Daniel Gamboa & Waldo Tapia One of the great dilemmas facing countries around the world is to define a pension system that is financially sustainable in the face of increasing life expectancy, falling fertility rates and the consequent lack of generational replacement. Globally, pension reforms in countries with more advanced aging processes have focused on implementing parametric reforms and incorporating automatic adjustments of the main parameters to share productivity, financial and demographic risks. In this article we present the advantages...

November 10, 2023

Articles, Sustainability2023, Aging, Coverage, Pension design

10NovNovember 10, 2023

All registered monks, nuns in Xizang covered by healthcare, pension schemes: official

Southwest China's Xizang Autonomous Region is providing medical insurance, pension schemes, subsistence allowances, and accident injury insurance, and covering health check expenses for all registered monks and nuns in the region, said the head of the regional government at a press conference on Friday. This is a ground-breaking achievement in the history of Tibetan Buddhism, said Yan Jinhai, chairman of Xizang's regional government, adding that as a result, registered monks and nuns are now entitled to receive pensions for the...

November 10, 2023

NewsChina, Coverage

30OctOctober 30, 2023

How Nigeria’s Contributory Pension Scheme Grew 52% in Three Years

The Director General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has said pension assets under the Contributory Pension Scheme (CPS) surged by N5.94 trillion or 52.3 per cent over the last three years from N11.35 trillion in August 2020 to N17.29 trillion in August 2023. The CPS is an arrangement where both the employer and the employee contribute a portion of an employee’s monthly emoluments towards the payment of the latter’s pension at retirement. Speaking recently on the development...

October 30, 2023

NewsCoverage, Nigeria, Pension Management, savings

27OctOctober 27, 2023

Allianz Pension Report Latam special 2022

By Allianz Research Even before the pandemic, the pension systems of most Latin American countries ranked in the bottom third in international comparison of their long-term adequacy and sustainability in our last Global Pension Report. The Covid-19 pandemic has been a double blow with respect to pension systems’ adequacy: On the one hand, rocketing unemployment rates diminished the share of the labor force in formal employment that is covered by pension schemes; on the other hand, lower contributions to pension...

October 27, 2023

Books, Books, Reports, System Characterization2022, Adequacy, Coverage, Latin America, System sustainability

26OctOctober 26, 2023

Ghana. Labour Ministry calls for expansion of pension to cover informal sector

The Director of Finance and Administration at the Ministry of Employment and Labour Relations, Mr Hamidu Adakurugu, has called for the expansion of pensions to ensure all workers, especially those in the informal sector who make up over 75% of the workforce, are enrolled in a pension scheme. Speaking on behalf of the Sector Minister at the launch of National Pensions Awareness Week, he noted that currently, only 2.4 million workers, which represents a small fraction of the over 10...

October 26, 2023

NewsCoverage, Ghana, Informa Sector

16OctOctober 16, 2023

Ghana. Total membership of SSNIT Scheme is 1.8 million — Minister

As of March 2023, the total membership of the Social Security and National Insurance Trust (SSNIT) Scheme was estimated at 1.8 million, Mr Ignatius Baffour Awuah, the Minister of Employment, Labour Relations and Pensions, has disclosed. This, he said means that about 8.1 million of the estimated Ghana’s working population of 9.9 million might not have any form of social security cover, which shows that leveraging digitalisation to extend social security coverage was long overdue. “The overwhelming importance of digitalisation today...

October 16, 2023

NewsCoverage, Ghana, Operations

12OctOctober 12, 2023

Nigeria. Informal sector workers demand social protection

The Federation of Informal Workers of Nigeria has canvassed for social protection for informal workers, noting that over 90 per cent of Nigerians are engaged in the sector. The call was made by delegates at the 2nd Delegates Conference of the Federation of Informal Workers’ Organisations of Nigeria held recently in Lagos. The union argued that government policies have led to the collapse of many industries in the formal sector over the years. This has led to rapid expansion of the...

October 12, 2023

NewsCoverage, Informal Sector, Nigeria, Social Protection

05OctOctober 5, 2023

9 million Ghanaian workers without pension – NPRABY

About nine million people working in the country without any form of pension risk slumping into retirement without income security, the Head of the Corporate Affairs of the National Pensions Regulatory Authority (NPRA), Nana Sifa Twum, has stated. He said that between the next five and 10 years, the working individuals without any form of pension would retire poor and become a liability on their families and society if the situation was not addressed. Nana Twum who stated this in an...

October 5, 2023

NewsCoverage, Ghana

08SepSeptember 8, 2023

Extending contribution-based social security schemes for workers in the informal economy and self- employed in Nepal

By International Labour Organization This brief was prepared by André F. Bongestabs and Suravi Bhandary based on the technical note produced by Pierre Plamondon, Senior Actuary, with the support of ILO’s Actuarial Services Unit, as part of the technical support provided by the ILO to the Social Security Fund of Nepal. The brief discusses various considerations that needs to be placed during the design and implementation of contribution-based social security for workers in the informal economy and self-employment. It is...

September 8, 2023

Books, Books, Pension design, Reports2023, Coverage, Informal Sector, Labor Market

20JulJuly 20, 2023

Only 18% of Jamaican workers in a pension arrangement

Only 18 per cent of Jamaican workers are currently in a pension arrangement, a figure which needs to be increased if the country is to avoid a high rate of poverty among an ageing population in the future, according to local experts in the pensions industry. Sonya Goffe, President of the Pensions Industry Association of Jamaica (PIAJ) said the organisation’s mandate is to advocate for an increase in the number of Jamaicans who will receive a pension and to educate...

July 20, 2023

NewsCoverage, Jamaica

November 2023

In search of financially sustainable pension systems: three benchmark models

All registered monks, nuns in Xizang covered by healthcare, pension schemes: official

October 2023

How Nigeria’s Contributory Pension Scheme Grew 52% in Three Years

Allianz Pension Report Latam special 2022

Ghana. Labour Ministry calls for expansion of pension to cover informal sector

Ghana. Total membership of SSNIT Scheme is 1.8 million — Minister

9 million Ghanaian workers without pension – NPRABY

September 2023

Extending contribution-based social security schemes for workers in the informal economy and self- employed in Nepal

July 2023

Only 18% of Jamaican workers in a pension arrangement