November 2022
25Nov

PEPP: Catalyst for Pension Innovation?

By Hans van Meerten & T.J.B. Hulshoff In the past two decades, several traditional markets have been 'disrupted' by parties with new business concepts, new technology and, above all, a big focus on consumer experience. Music, video, books, taxi, hotels, banks, meal delivery; examples abound. Is the personal pension savings market up for grabs? If it is up to the EU, yes. Through new PEPP legislation. But will this actually happen? Are providers and consumers ready for this? And what...

November 25, 2022
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25Nov

41% of U.S. women expect to retire at age 70, older or not at all: survey

Two-fifths (41 per cent) of U.S. women say they expect to retire at age 70 or older or don’t plan to retire at all, according to a survey by the Harris Poll on behalf of the Transamerica Center for Retirement Studies. Among women who plan to work past age 65 or who don’t plan to retire, 81 per cent cited financial reasons. Nearly half (45 per cent) said they expect to rely on self-funded savings or investments in retirement, while...

November 25, 2022
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24Nov

Why an aging population doesn’t spell economic doom

The world’s population passed the 8 billion mark on Nov. 15. While that’s a big number, the rate of population growth has slowed in recent decades, and fears about the “population bomb” are easing. Instead, a different but still formidable demographic challenge is taking shape on the horizon: global aging. According to a recent International Monetary Fund article, the number of children worldwide under the age of 15 will equal the number of people over 65 in 2050. The ratio...

November 24, 2022
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18Nov

The world’s baby shortfall is so bad that the labor shortage will last for years, major employment firms predict

“Demographic shifts” can mean many things. The composition of a body of people—median age, ethnic makeup, and more—all fall into the category. But in the context of the labor shortage that has gripped the world economy since the pandemic began, it has coincided with one of Elon Musk’s big worries: The world isn’t having enough babies. He has previously said the world’s declining birth rate is “one of the biggest risks to civilization,” which will “crumble” if the world doesn’t have...

November 18, 2022
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16Nov

Global population hits 8 billion, doubling in 48 years

The world’s population has reached 8 billion, up by one billion in just 11 years since the population hit 7 billion in 2011. On Tuesday, the UNDP announced that the world’s population had hit 8 billion. UN Secretary-General Antonio Guterres said in a statement that it is a “milestone in human development,” and that this is an “occasion to celebrate diversity and advancements while considering humanity’s shared responsibility for the planet.” Since 1974, when the global population first exceeded 4 billion,...

November 16, 2022
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October 2022
21Oct

Nearly 70% Chinese elderly intend to return to workplace after retirement: report

A latest report shows that 68 percent of surveyed senior citizens in China intend to return to the workplace after retirement while 30 percent of the interviewees say they have economic pressure. Experts said it's a normal and beneficial phenomenon given the slow growth of pension in recent years and labor shortages in some industries. The survey report on the post-retirement employment of senior citizens released by Chinese recruitment website 51job.com on Monday reveals that 34.4 percent of elderly...

October 21, 2022
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10Oct

Abu Dhabi Pension Agency: Employers are obligated to register citizens within 10 working days of their joining the service

By The Bharat The Abu Dhabi Pension Fund has called on the employers registered with it not to delay in registering the new employees who have joined them. He stressed that registering and subscribing to the fund on behalf of citizens working in the public and private sectors is a mandatory procedure for all employers that have their headquarters in the Emirate of Abu Dhabi, within the framework of complying with the requirements of the fund and the retirement law...

October 10, 2022
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06Oct

Pension funds in sub-Saharan Africa

By Owen Nyang`oro & Githinji Njenga The population structure the world over is going through a demographic shift, and the elderly proportion is projected to increase with population growth. This change is a matter of concern for sub-Saharan African (SSA) countries, where the majority of the people are young and the rates of both population growth and unemployment are high. A good pension system provides elderly assistance and is a source of savings for long-term investment. The pension systems in...

October 6, 2022
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04Oct

US. Rehiring Retirees And The Impact To Retirement Plans

The IRS had previously issued FAQs to explain the retirement plan rules of the CARES Act. The original guidance answered questions about expanded distribution options and favorable tax treatment for retirement distributions needed because of the impact of coronavirus. In October, the IRS expanded the FAQs to include guidance on retiree benefits. While these new answers by the IRS relate directly to pension plans, they might be useful in administering a 401(k) plan, too. An employer has a choice when...

October 4, 2022
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September 2022
30Sep

US. Why Small Businesses Are Upping Their Retirement Plan Offerings

Last year was a fantastic for small business growth, and in its 2021 New Business Insights, Intuit QuickBooks predicted as many as 17 million new small businesses would form in 2022. It marks an increment of 2.5% from the previous year and grows to 9.8% in four years, from 2017 to 2021. While it was a great year for starting businesses, it was a not-so-great year for staffing them. According to the Bureau of Labor Statistics, in 2021, more than...

September 30, 2022
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