June 2020
03Jun

India. Modifications in National Pension Scheme financially untenable: Finance Ministry

The Finance Ministry has ruled out proposals by a federation of central and state governments employees seeking modification in the National Pension Scheme, saying its corpus is invested in a prudential manner to ensure optimal returns and suggested that changes will be financially untenable. The response comes following a petition to the Prime Minister''s Office (PMO) by Manjeet Singh Patel, president of Delhi unit of the National Movement for Old Pension Scheme (NMOPS), seeking revival of the old pension...

June 3, 2020
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02Jun

Japan. Relieve non-regular workers’ anxiety through reform of pension system

By The Japan News Editorial There is great significance in improving the foundation of the quality of life in old age for part-timers and other non-regular workers. Laws related to pension system reform have been passed. The range of people eligible for employee pensions will be expanded to include short-term workers from companies with fewer employees. Read also India. Modifications in National Pension Scheme financially untenable: Finance Ministry Currently, companies are required to join the employee pension program if they meet the...

June 2, 2020
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May 2020
23May

The 2018 Pension Adequacy Report: current and future income adequacy in old age in the EU

By European Commission The 2018 edition of the triennial Pension Adequacy Report analyses how current and future pensions help prevent old-age poverty and maintain the income of men and women for the duration of their retirement. Volume I is devoted to comparative analysis of pension adequacy in the EU- 28. It examines the current living standards of older people and how they are shaped by pension systems, proceeds with an overview of recent pension reforms and concludes by analysing...

May 23, 2020
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22May

Working In Retirement: What You Need To Know Now

It’s common to assume that once you’re retired, your working days are over. But that’s not always the case. Whether it’s financially necessary or just a way to stay busy, a lot of people end up with a post-retirement career. If you think you’ll need or want to continue working to some degree after you retire, it’s important to start planning years ahead. Here are three different paths you can take for a post-retirement career—and important aspects of each...

May 22, 2020
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21May

India. Lack of social security for women in informal economy needs to be addressed

It was in the middle of the second lockdown. Ayeshaben, a home-based garment worker suddenly experienced chest pain. Her son, Asif, a tailor, requested one of his customers to take his mother in his rickshaw to the hospital. Thankfully, Ayeshaben has been taking insurance cover with SEWA’s insurance cooperative, VimoSEWA, for the last 15 years. Her claim of Rs 5,000 was processed online after Asif sent all her documents via WhatsApp. There are millions of Ayeshabens in this country....

May 21, 2020
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04May

Jamaica. The COVID-19 response: Beyond the crisis

The Government’s COVID-19 Economic Recovery Task Force very much duplicates the existing National Partnership Council that had been established to drive Jamaica’s economic development long before the advent of the global pandemic. The recovery process will be long and arduous, but the first order of business for Jamaica is to keep the wheels of industry turning, which is the initial focus, I believe, of the task force. Beyond that, the groundwork for a full and sustained recovery has to...

May 4, 2020
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04May

Jamaica. The COVID-19 response: Beyond the crisis

The Government's COVID-19 Economic Recovery Task Force very much duplicates the existing National Partnership Council that had been established to drive Jamaica's economic development long before the advent of the global pandemic. The recovery process will be long and arduous, but the first order of business for Jamaica is to keep the wheels of industry turning, which is the initial focus, I believe, of the task force. Beyond that, the groundwork for a full and sustained recovery has to...

May 4, 2020
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01May

An Equilibrium Theory of Retirement Plan Design

By Ryan Bubb and Patrick L. Warren We develop an equilibrium theory of employer-sponsored retirement plan design using a behavioral contract theory approach. The operation of the labor market results in retirement plans that generally cater to, rather than correct, workers' mistakes. Our theory provides new explanations for a range of facts about retirement plan design, including the use of employer matching contributions and the use of default contribution rates in automatic enrollment plans that lower many workers' savings....

May 1, 2020
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01May

US. How The Pandemic Is Making The Retirement Crisis Worse — And What To Do About It

The coronavirus crisis has torn the Band-Aid off the financial fragility of many Americans. With an unemployment rate between 15% and 20%, bank accounts draining, and the Dow down 23% in the first quarter, things are dreadful for millions of people. But Americans in their 50s and 60s nearing retirement may be among the most endangered. Many already weren’t on track for retirement, with little or no savings. Now, the COVID-19 downturn threatens to further undermine America’s vulnerable public...

May 1, 2020
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April 2020
30Apr

South Africa: The Rules Around Pensions in a Time of Mass Job Losses

In addition to the stress faced by employees who might lose their jobs during the crisis engendered by Covid-19, there is the added concern of whether their pension contributions will remain safe or fairly managed. The Financial Services Conduct Authority (FSCA) warned, at the end of March, that many distressed employers might default on their employees’ contributions to retirement funds, as a direct consequence of Covid-19’s impact on businesses and the economy. While the FSCA reminded the public that...

April 30, 2020
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