etirement savers will have to keep an eye on state pension payouts, the value of the pound and consumer protections now Brexit Day is here. The question on most people’s minds will be what it all means for them and their money. Read also UK’s ethnic minority pensioners are GBP3,350 a year worse off Pensions will be affected in a number of ways and, like all things when it comes to retirement, it will pay to be prepared. This is...
The Riigikogu has passed the controversial pension reform bill, by 56 votes in favor to 45 against, making membership of the so-called second pillar of the Estonian pension scheme voluntary, also passing the vote of confidence it attached to the bill. Read also Estonia. Reform leader: We’ll use every means possible to halt pension reform mess The Compulsory Funded Pension Reform Act, to give it its full title, once it comes into effect, will make membership of the so-called second...
In the UK, the average pensioner from an ethnic minority is GBP3,350 a year worse off than other people their age, according to new analysis from The People’s Pension. The pension provider’s new report, Measuring the Ethnicity Pension Gap, highlights that the average ethnic minority pensioner’s income is 24.4 per cent less than their white counterpart. The divide is even greater from a gender perspective; on average, the gap in annual pension income between a female pensioner from...
Reform Party leader Kaja Kallas says that the large number of proposed amends opposition parties made to the coalition's pensions reform bill to be vote on today were needed, given its huge socio-economic impact, and that she and her party intend to fight the bill every step of the way. "What worries them most is the pension system being dismantled in the way it is," Kallas said, speaking on ETV politics discussion show "Esimene stuudio" Tuesday night. "The experts...
Several large Dutch sector schemes are actively trying to persuade their participants to pass on their email addresses in order to save on communication costs and for sustainability reasons. They are finding, however, that the process is laborious, and that they have a long way to go before they no longer need the postman and can save millions of euros through digital correspondence. Although most schemes already have an online platform and prefer digital communication, the main hurdle is...
Cracking open a 4.85 billion-euro ($5.3 billion) piggy bank of pension savings may be a vote-winner. But Estonia’s plan to allow early access to retirement cash is facing a tide of criticism for being short-sighted. The government is meeting an election pledge by a junior coalition member to let more than half the Baltic nation’s 1.3 million residents reinvest or spend mandatory pension savings taken from tax contributions and gross salaries since 2002. The money would be released from...
The Department for Work and Pensions (DWP) has confirmed that the UK state pension will be protected by the Withdrawal Agreement in new guidance examining the rights for UK nationals after the UK has left the EU. The guidance confirmed that UK nationals living in an EEA state or Switzerland by 31 December 2020 will be covered by the Withdrawal Agreement. The UK state pension will be uprated every year that an individual continues to live there, regardless of...
Country's highest administrative court warns government that it has not had time to study legislation properly and it 'guarantee the legal security' of controversial changes to the pension system President Emmanuel Macron's controversial pension reform plans that have prompted weeks of strikes and protests have been dealt a blow by the country's highest administrative court. The Conseil d'Etat said that the financial forecasts underpinning the bills were questionable and warned that it could not "guarantee the best possible legal...
Companies and asset managers must show progress towards climate goals by 2022, Brunel Pension Partnership, one of Britain's biggest pension fund managers, said on Monday, or the fund will withdraw its investment. Policymakers such as outgoing Bank of England Governor Mark Carney are pushing investors to do more to ensure their portfolio choices help to meet the 2015 Paris Agreement to combat climate change, by limiting warming to well below 2 degrees Celsius, preferably to 1.5C. Brunel, which manages...
France's hardleft trade unions on Friday threatened industrial action for months to come, as they searched for a way to force President Emmanuel Macron to ditch the biggest overhaul of the country's pension system since World War Two. The unions have been locked in battle with Macron over the fate of France's generous pension benefits since early December. The former investment banker has made some concessions to the unions but refuses to abandon his reform. The unions on Friday...
