Pension Reform Archives - Page 2 of 38 - Pension Policy International

28OctOctober 28, 2024

Uruguay Elections: majority rejects pension reform and two candidates move on to the second round.

Early exit polls suggested opposition centre-left candidate Orsi had secured 44% of the vote, followed by Delgado's 27% for the ruling coalition and 16% for young conservative social media expert Andres Ojeda. Early exit polls in Uruguay's election suggest centre-left opposition candidate Yamandu Orsi is ahead of conservative rival Alvaro Delgado and a run-off vote is likely to be needed for a direct duel. Orsi had obtained 44% of the votes, according to an exit poll by Cifra, followed by Delgado's...

October 28, 2024

NewsPension Management, Pension Reform, Uruguay

28OctOctober 28, 2024

Will the Pensions Review herald long overdue integrated policy making?

The new government has laudable ambitions, but will it do more than simply “firefighting”? Pensions are a priority, judging by its speed in launching ‘a landmark’ review to boost investment, increase pension pots and tackle waste. Led by the first ever joint Treasury and DWP pensions minister Emma Reynolds, it is initially investigating scale, consolidation, the role of the single employer trust, master trusts and GPPs with their different governance structures of trustees and IGCs. The call for evidence for this, the first...

October 28, 2024

NewsPension design, Pension Reform, UK

21OctOctober 21, 2024

Reform for Turkish pension system urged amid inflation, early retirement, population aging

Amidst the high cost of living, a culture of early retirement, and a demographic outlook featuring population aging and a low birth rate, Türkiye's pension system is under great pressure and requires urgent reforms, experts have said. According to the state-managed Social Security Institution (SGK), some 16.4 million people receive retirement and old-age pensions in Türkiye, a country with a population of over 85 million. However, as data from Türkiye's Retirees Association showed, about one-fourth of all those retirees continue to...

October 21, 2024

NewsPension Reform, Turkey

18OctOctober 18, 2024

Parametric Pension Reform Options in Korea

By Daniel Baksa, Boele Bonthuis, Si Guo & Zsuzsa Munkacsi Population aging in Korea will pose substantial challenges to the financial sustainability of its public pension system. Under current policies and plausible assumptions, public pension spending can increase by as much as 4 percent of GDP during 2020-70, while contribution revenue will largely stay constant. This expected rise in public pension spending mainly reflects the increase in the old-age dependency ratio (and therefore the number of pension recipients), the deceleration...

October 18, 2024

Articles, System Sustainability2024, Aging, Pension Reform, South Korea

17OctOctober 17, 2024

Big pension changes for divorce in South Africa

The new Pension Funds Amendment Act (PFAA) was recently signed into law, which will seriously impact divorce proceedings in South Africa. New retirement fund rules have changed how pensions are divided between divorced South Africans. “Before the PFAA it has been a well-established principle in our law that a divorce order is only enforceable against a pension fund as long as the member is still a member of the fund,” said Wright Rose-Innes. “Now, with the introduction of the PFAA and the...

October 17, 2024

NewsPension Reform, Regulation, South Africa

16OctOctober 16, 2024

Morocco faces challenges of corruption and reform of pension system

The Government Action Observatory, affiliated with Al-Hayat Centre for Civil Society Development in Morocco, has warned that one of the most prominent challenges facing the government of Prime Minister Aziz Akhannouch in its fourth year is that of reforming the pension system, which is at risk of bankruptcy by 2028. Corruption is also one of the pressing issues, as the cost of this affliction in Morocco exceeds 50 billion dirhams annually, which hinders economic growth and affects efforts to improve...

October 16, 2024

NewsMorocco, Pension Reform, Risk

11OctOctober 11, 2024

Social pensions in the Americas: Recent developments

By International Social Security Association Ensuring adequate social security coverage for an ageing population is an important priority for governments and the global membership of the International Social Security Association (ISSA). Social pensions, also known as zero pillar or non-contributory pensions, complement contributory social insurance systems by providing a guaranteed source of income for people not adequately protected by other forms of social security. In doing so, they expand overall social protection and can be a powerful tool for combating...

October 11, 2024

Books, Books, Reports, System Characterization2023, Latin America, Pension Reform, Social Pensions, Social Protection

11OctOctober 11, 2024

UK. Why even at 20 you should care about pension changes

There is growing speculation that the way pensions are taxed could be changed in the Budget. Chancellor Rachel Reeves says she needs to find £22bn and some experts say she could change the system on workplace or private pensions to find some of this money. This is separate from another debate about the state pension. There are a number of options which could affect workers getting their first job, those already working, all the way up to those in retirement. This...

October 11, 2024

NewsPension Reform, UK

02OctOctober 2, 2024

Azerbaijan prepares proposals to increase minimum wage and pension – minister

Under the directives from Azerbaijan’s President, an increase in the minimum wage and minimum pension will be implemented across the country starting next year, Minister of Labour and Social Protection of the Population of the Republic of Azerbaijan Sahil Babayev said at the ministry's board meeting, Trend reports. Information was presented regarding efforts to enhance the regulatory legal framework in the areas of labor, pensions, disability, and other sectors as part of ongoing social reforms. It was noted that over 20 draft...

October 2, 2024

NewsAzerbaijan, Income, Pension Reform

01OctOctober 1, 2024

Swiss MP proposes integration of pension model for temp workers in second pillar

Christian Lohr, member of parliament (MP) for The Centre (Die Mitte) party in the National Council, the lower house of the Swiss parliament, has asked the government (Federal Council) to assess the possibility of integrating the pension model designed by the industry for temporary workers into the second pillar pension system, as an alternative to change occupational pensions after the public rejected the proposed reform in a recent vote. The pension fund model in the temporary employment sector enables many...

October 1, 2024

News2024, Financial Inclusion, Labor Market, Pension Reform, Switzerland

October 2024