Pension design Archives - Page 12 of 38 - Pension Policy International

25AprApril 25, 2023

PPG Industries unloads $309 million in U.S. pension liabilities

PPG Industries Inc., Pittsburgh, purchased a group annuity contract in March to transfer $309 million in U.S. pension plan liabilities to insurance companies. The chemical company disclosed the transaction in its 10-Q filing with the SEC on April 21. The filing did not disclose the number of insurers or their names. It is at least the third pension risk transfer transaction completed by the company in the past seven years. In 2016, PPG Industries purchased two group annuity contracts to transfer $1.6...

April 25, 2023

NewsPension design, Risk, US

14AprApril 14, 2023

PensionBee. Annual Report and Financial Statements 2022

By PensionBee PensionBee is a leading online pension provider in the UK, with a mission to make pensions simple, so that everyone can look forward to a happy retirement. We are a direct-to-consumer financial technology company with approximately 183,000 Invested Customers and £3.0bn of Assets under Administration (‘AUA’) as at 31 December 2022 (2021: 117,000 Invested Customers and £2.6bn of AUA). We deliver a leading customer proposition to pension holders in the UK defined contribution pensions market, catering for the mass...

April 14, 2023

Books, Books, Pension Management, Reports2023, Fintech, Pension design, Technology, UK

12AprApril 12, 2023

China. Personal pension system holds room for more development

China's latest attempt at launching a personal pension system will result in the leapfrogging development of securities firms both in terms of additional income and business models, said experts. In mid-April 2022, the State Council, China's Cabinet, rolled out a plan to introduce the personal pension system. Thereafter, the multilayered system has begun to develop in China, comprising basic pension insurance, annuities and personal pensions. The plan officially kicked off in late November, with people in 36 Chinese cities and regions...

April 12, 2023

NewsChina, Investment, Pension design

10AprApril 10, 2023

UK. £1 million in savings are needed for a comfortable early retirement, experts say”

Savers hoping to retire early with a “comfortable” income will need a pension worth £1m – and to save more than £11,000 a year throughout their career to build up the pot. Early retirement is currently in vogue, with 565,000 workers having left the workforce since the start of the pandemic, according to the House of Lords. While the reasons behind the exodus are unknown, the primary driver is thought to be early retirement among those aged between 50 and...

April 10, 2023

NewsPension design, UK

05AprApril 5, 2023

Mandatory Pension Contributions: Effects on Household Consumption and Savings

By Linda Sandris Larsen, Ulf Nielsson, Mara Nutu & Jesper Rangvid Using rich register data from Denmark, we study whether people save enough to maintain their pre-retirement level of consumption during retirement. We find that 77% of retirees do. This high fraction is driven by mandatory labour market contributions. The 23% of individuals who do not save enough to maintain their pre-retirement level of consumption are less likely to have mandatory pension schemes and do not compensate for the lack...

April 5, 2023

Articles, Savings2023, Pension design, savings

28MarMarch 28, 2023

Ghana. Government rolls out pension scheme for cocoa farmers

Government, through Ghana Cocoa Board (COCOBOD), has rolled out the Cocoa Farmers Pension Scheme (CFPS) to ensure a decent pension for cocoa farmers, improve their welfare, and also make farming attractive to the youth. This comes after the Cocoa Management Systems (CMS) recorded some momentous strides after piloting the scheme for three weeks in August 2021 in New Edubiase and some other districts in the Ashanti Region. Just as government and private sector workers contribute during their working life, it has...

March 28, 2023

NewsGhana, Informal Sector, Pension design

08MarMarch 8, 2023

UK. New figures show Gender Pension Gap remains stubbornly high

New statistics from trade union, Prospect, provide their latest estimate of the Gender Pensions Gap. They put the gap at 40.5% for 2020-21, essentially unchanged since the figure was first estimated half a decade ago. This is significantly more than the gender pay gap, and represents an average annual £7,100 shortfall. The latest figures show that despite an increased focus on the gap, current government policies are failing to provide any improvement. This has led Prospect to warn of a “ticking...

March 8, 2023

NewsGender Gap, Pension design, UK

03MarMarch 3, 2023

Pension Provision in Thailand

By Robert Palacios & Himanshi Jain This report documents the current state of pension provision in Thailand and options for reform that would increase the adequacy and sustainability of the pension system. While the focus here is on income support, the welfare of the elderly depends on many other government policies ranging from labor market policies to aged care and health services. It is also important to assess the pension system in terms of its broader impact on fiscal sustainability...

March 3, 2023

Books, Books, System Characterization2021, Informal Sector, Labor Market, Pension design, Social Protection, Thailand

28FebFebruary 28, 2023

Social partner model spreads to small, medium-sized firms in Germany

Social partner model spreads to small, medium-sized firms in Germany The social partner model offering pure defined contribution (DC) plans is spreading mostly among small and medium-sized firms in the chemical sector in Germany, attracting employees who did not show interest in occupational pensions in the past. The German Federation of Chemical Employers’ Associations (BAVC), the social partner that started one of the first pure DC schemes in Germany, is currently seeing demand for social partner models for pensions in the...

February 28, 2023

NewsGermany, Pension design

02FebFebruary 2, 2023

U.S. A Retirement Income Distribution Plan Is as Critical as Saving

The majority of your life is spent in accumulation mode — earning a steady income and putting money aside for things like retirement, savings, your child’s education or a dream vacation home. After years of investing and saving, it is critical to shift your mindset out of accumulation mode and into distribution, or decumulation, mode when retirement nears. Making that mental shift is difficult for most, but having a comprehensive wealth plan that includes a retirement income distribution strategy...

February 2, 2023

NewsPension design, Pension Payout, Retirement Planning, US

April 2023

PPG Industries unloads $309 million in U.S. pension liabilities

PensionBee. Annual Report and Financial Statements 2022

China. Personal pension system holds room for more development

UK. £1 million in savings are needed for a comfortable early retirement, experts say”

Mandatory Pension Contributions: Effects on Household Consumption and Savings

March 2023

Ghana. Government rolls out pension scheme for cocoa farmers

UK. New figures show Gender Pension Gap remains stubbornly high

February 2023

Social partner model spreads to small, medium-sized firms in Germany

U.S. A Retirement Income Distribution Plan Is as Critical as Saving