August 2023
29Aug

Examining the Effects of Changes to UK Auto-Enrollment

Eliminating the U.K. trigger for auto-enrollment into workplace pension contributions—which currently requires an individual earn more than 10,000 pounds per year—would have a significant positive effect on the retirement outcomes for 90% of individuals, new research shows. However, the change mulled over by lawmakers across the pond may also have a negative impact on a small but considerable segment of the population, according to modeling and research commissioned by the Pension and Lifetime Savings Association and carried out by...

August 29, 2023
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22Aug

UK. PLSA: Can low earners be safely auto-enrolled in workplace pensions?

In the realm of pensions policy, there exists a significant knowledge gap when it comes to understanding and addressing the needs of low earners. 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. The PLSA commissioned the Pensions Policy Institute (PPI) to evaluate the issue of low earners and whether AE could provide a way of improving their retirement outcomes. The subsequent report -...

August 22, 2023
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21Aug

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
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18Aug

Annual report on intra-EU labour mobility 2022 published

By European Commission  Irrespective of the pandemic, the number of working age EU citizens living in another Member State remained stable, at 10.2 million in 2020. The number of persons moving, however, declined in line with the restrictions imposed because of the pandemic. With the pandemic phasing out, we expect that these figures will return to pre-Covid-levels. The labour market performance of mobile workers has, following a Covid-induced dip in 2020, again reached 74%, i.e. the same level as for nationals....

August 18, 2023
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18Aug

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
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July 2023
21Jul

Racial and Ethnic Disparities in Retirement Outcomes: Impacts of Outreach

By Angelino Viceisza, Amaia Calhoun & Gabriella J.O. Lee We review select literature on racial and ethnic disparities in retirement outcomes in the United States and the impact of outreach on such outcomes. First, there are significant disparities in retirement outcomes, reflecting a long history of racism and structural barriers. Second, there is comparatively little work on the differential impact of retirement outreach across race and ethnicity. Future work should consider designing interventions that cater to the needs of specific...

July 21, 2023
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21Jul

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
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18Jul

Fidelity Investments forms retail annuities and pension risk transfer focused reinsurer

US investment giant Fidelity Investments has formed Soteria Reinsurance Ltd., a newly incorporated Class C insurer registered in Bermuda that will focus on the US retail fixed annuities and pension risk transfer space. On June 20th, 2023, Soteria Re, which is owned directly by Soteria Reinsurance Holdings, LLC, a wholly owned subsidiary of Fidelity Management & Research Company LLC, was registered with the Bermuda Monetary Authority as a Class C insurer. In a brochure dated March 28th, 2023, Fidelity explained that...

July 18, 2023
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05Jul

It’s time to address the UK’s disability pensions gap

Building a healthy retirement savings pot can be a challenge for anyone as they advance through their working lives. Yet, without question, it poses many additional, arduous challenges for those with disabilities. To put this into perspective, one fifth (22%) of UK adults are currently living with a disability. And people within that community have, on average, a pension wealth that is but a fraction (36%) of the typical UK pension pot. In practice, that means Britons with disabilities nearing retirement...

July 5, 2023
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June 2023
28Jun

China to explore housing pension system, improve residential quality: minister

China's housing minister has emphasized the need to improve the quality of housing and explore a housing pension system. Ni Hong, minister of Housing and Urban-Rural Development, called on the financial institutions to participate in urban construction and renovation, promoting the creation of livable, intelligent, and resilient cities, news outlet CHINAJSB.CN reported on Tuesday.   Ni made the remarks in a meeting with chairman of Bank of China on Monday to discuss a deepening of cooperation between the government and financial institutions,...

June 28, 2023
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