Informal Sector Archives - Page 7 of 23 - Pension Policy International

21AugAugust 21, 2023

Nigeria mulls Rwanda, Kenya model to spike micro- pension enrolment

Stakeholders in the Nigerian pension industry worried about the slow pace of informal sector enrolment into the country’s Micro Pension Plan (MPP) are considering workable models in Rwanda, Kenya among others. They believe that they lack of critical incentives like co-contributions, free healthcare and insurance found in micro pension scheme in these other countries are making the Nigerian model unattractive to potential enrolees. In this vein, the industry including the regulator, the National Pension Commission (PenCom) and the Pension Fund Administrators...

August 21, 2023

NewsInformal Sector, Nigeria, Pension design

18AugAugust 18, 2023

Uncovering the profile of low earners in the UK and the potential for pension saving through automatic enrolment

By Pensions and lifetime savings association In the realm of pensions policy, there exists a significant knowledge gap when it comes to understanding and addressing the needs of low earners in the United Kingdom. While various segments of the population have been subject to extensive research, individuals with low incomes who are still engaged in employment have remained relatively understudied. This group represents a complex demographic, comprising diverse subgroups, who may be earning modest incomes for varying reasons and circumstances. The...

August 18, 2023

Books, Books, Reports, Savings2023, Informal Sector, Pension design, Poverty, savings, UK

21JulJuly 21, 2023

Navigating pension options for gig economy workers

Industry experts unravel the common challenges and potential for gig workers in pension planning. The first question is, how much should you save? The gig economy has been growing steadily in the UK, bringing flexible work arrangements to millions of individuals. However, with this newfound flexibility comes the responsibility of planning for a secure financial future, including retirement. Workers in the gig economy often face unique challenges when it comes to pension planning. Unlike traditional employees, they typically lack access to...

July 21, 2023

NewsInformal Sector, Pension design, UK

07JulJuly 7, 2023

Canada. Expert panel: How portable benefits can support inclusivity among gig workers

The concept of employee benefits was established on a foundation built decades ago, when employees worked full time and long term with one employer. Those days are long gone. Temporary, part-time and gig work have become the norm, accounting for 60 per cent of job growth in advanced economies since the 1990s. Gig work is popular in sectors such as the arts, entertainment and recreation and it’s also more prevalent among immigrants than workers born in Canada. In 2016, 10.8 per...

July 7, 2023

NewsCanada, Informal Sector, Social Security

03JulJuly 3, 2023

Cambodia. NSSF began rolling but, is it a boon or bane for informal sector?

The much-awaited National Social Security Fund has begun rolling, covering 70 percent of about seven million workers or self-employed in the informal economy—about 85 percent of the total labour in the economy as a whole. But doubts still persist in the minds of informal workers and self-employed. They wonder why the NSSF is not providing both health care services and retirement pensions like those who in the formal sector as all pay a premium to NSSF. In a major resolution...

July 3, 2023

NewsCambodia, Informal Sector, savings

12MayMay 12, 2023

Social Security of Labour in India

By Ishita Arora The social security of labour in India is a critical issue that needs to be addressed. The country's labour force is massive, and ensuring their protection and well-being is crucial to their quality of life and the country's economic development. This research paper aims to explore the current state of social security for workers in India, including policies and programs aimed at providing protection and support to individuals and families against social and economic risks such as...

May 12, 2023

Articles, Labor Market2023, India, Informal Sector, Social Security

12MayMay 12, 2023

Ghana. Only about 1.9m out of 10 million workers are covered under SSNIT scheme – SSNIT boss

Only about 1.9 million of the 10 million or so workers in the country are covered under the Social Security and National Insurance (SSNIT) Scheme. According to the Director General of SSNIT, Dr John Ofori-Tenkorang, what is more, disturbing is that only about 32,000, representing 1.68% of active contributors, are self-employed. This is despite the fact that the majority of workers in the country are self-employed and/or work in the informal sector. Speaking at the launch of the SEED – a campaign...

May 12, 2023

NewsCoverage, Ghana, Informal Sector

11MayMay 11, 2023

Ghana. SSNIT expands coverage of basic social security scheme to self-employed persons

The Social Security and National Insurance Trust (SSNIT) has launched the Self-Employed Enrolment Drive (SEED), a product geared towards expanding coverage of the basic national social security scheme to self-employed Ghanaians. Dr John Ofori-Koranteng, Director-General of SSNIT, speaking at the launch of the product in Kumasi, said the aim was to redefine social security in Ghana and give hope to the self-employed to be able to retire in dignity and comfort. In pursuit of this agenda, the management of SSNIT had...

May 11, 2023

NewsCoverage, Ghana, Informal Sector

20AprApril 20, 2023

Kenya. Retirements Benefits Authority Woos The Jua Kali Sector

The Retirement Benefits Authority (RBA) is eyeing the jua kali sector as it begins to roll out its services to counties, RBA Deputy Director Peter Ngunyi has said. Ngunyi who was speaking during the launch of RBA service desk at the Nyeri Huduma Centre, said that in addition to bringing services closer to retirees in the counties, they were also looking to tap into the informal sector which constitutes 80 per cent of the labour market. He further explained that the...

April 20, 2023

NewsInformal Sector, Kenya, Voluntary Savings

11AprApril 11, 2023

Ghana. Traditional leader urges informal sector workers to join tier-three pensions

Nana Akrapim Baffo Agyentaduahene IV, the Paramount Chief of the Nkoranza Traditional Area in the Bono East Region, has urged artisanal workers to register and join pension schemes for their own good. He said pensions did not only provide financial security for the aged, but also help the aged live stress and depression free lives. He said the aged required stress-free life to live longer and achieve their goals and aspirations. The Paramount Chief gave the advice when personnel of the Bono...

April 11, 2023

NewsInformal Sector, savings, Voluntary Savings

August 2023

Nigeria mulls Rwanda, Kenya model to spike micro- pension enrolment

Uncovering the profile of low earners in the UK and the potential for pension saving through automatic enrolment

July 2023

Navigating pension options for gig economy workers

Cambodia. NSSF began rolling but, is it a boon or bane for informal sector?

May 2023

Ghana. Only about 1.9m out of 10 million workers are covered under SSNIT scheme – SSNIT boss

Ghana. SSNIT expands coverage of basic social security scheme to self-employed persons

April 2023

Kenya. Retirements Benefits Authority Woos The Jua Kali Sector

Ghana. Traditional leader urges informal sector workers to join tier-three pensions