Private Pensions Archives - Page 2 of 9 - Pension Policy International

27SepSeptember 27, 2024

Pension Coverage and Informal Sector Workers: International Experiences

By Yu-Wei Hu & Fiona Stewart Pension reform around the world in recent decades has focused mainly on the formal sector. Consequently, many of those working in the informal sector have been left out of structured pension arrangements, particularly in developing countries – a serious problem given this group are often low income earners, vulnerable to economic volatility and change. However, since the turn of the millennium, efforts in a range of countries have increasingly highlighted improving pension coverage for...

September 27, 2024

Books, Books, Labor Market, Reports2024, Coverage, Informal Sector, Private Pensions

27SepSeptember 27, 2024

The Future of Retirement Security An International Comparison through the Lens of Adequacy, Sustainability, Equity and Plan Design

By Surya Kolluri, Catherine Reilly & David P. Richardson Countries around the world are considering and implementing reforms to their retirement systems for a variety of reasons, including increasing demographic and economic pressures. A key demographic driver is human longevity. For example, the average retiree can expect to spend about two decades in retirement, roughly double the time from 50 years ago. In the United States, life expectancy has risen by 17 years since the Social Security program debuted nearly...

September 27, 2024

Articles, System Characterization2024, Private Pensions, Public Pensions, Retirement Planning, savings

03MayMay 3, 2024

Financial Fragility, Financial Resilience, and Pension Distributions

By Robert Clark & Olivia S. Mitchell We evaluate Americans’ financial robustness during the COVID-19 pandemic, using measures of financial resilience and financial fragility derived from U.S. surveys of persons aged 45 to 75 from 2020 to 2022. We analyze which factors were associated with resilience and fragility, discuss how these measures changed during the pandemic, and assess whether prepandemic resilience led to better outcomes during the period. Results show that stronger resilience was protective in terms of financial fragility,...

May 3, 2024

Articles, Pension design2024, Financial Literacy, Private Pensions, Retirement Planning, US

19AprApril 19, 2024

The Importance of Reviewing the Pension Scheme in Albania. Benefits and Challenges of Applying for Private Pensions in Albania

By Valbona Cinaj The pension system faces many problems and challenges. Social security in general is the system of social protection in Albania, as in other countries, is influenced by the country's economic power, labor market developments, demographic situation, employment situation and unemployment, GDP growth, macroeconomic stability, etc. These indicators will serve not only as a starting point for the analysis of the system, achievements, and problems, but also the level of these indicators will serve as a starting point...

April 19, 2024

Articles, System Characterization2024, Albania, Private Pensions, Social Protection, Social Security

26JanJanuary 26, 2024

China promotes full implementation of private pension system

China will promote the full implementation of a private pension mechanism that has already been introduced in 36 cities and regions, the Ministry of Human Resources and Social Security announced Wednesday. At a press conference held in Beijing, the ministry said the system has been running smoothly and "positive progress" has been made since its introduction in 2022, adding that more than 50 million people have opened accounts to participate in the mechanism. The mechanism allows Chinese citizens to contribute up...

January 26, 2024

NewsChina, Private Pensions

19OctOctober 19, 2023

International Organisation of Pension Supervisors (IOPS) annual meeting on at Victoria Falls

FINANCE, Economic Development and Investment Promotion Minister, Prof Mthuli Ncube has officially opened the International Organisation of Pension Supervisors (IOPS) annual meeting where he called for development of the pensions and financial sector in the region in line with international protocols. The meeting is being attended by pension supervisors from around the world and started on Tuesday with the IOPS committee closed door meetings and will end tomorrow. Among the delegates attending the meetings are representatives of pension supervisory authorities from...

October 19, 2023

NewsPrivate Pensions, Public Pensions, supervision, Zimbabwe

31AugAugust 31, 2023

China: Manulife-Sinochem Life launches its first private pension insurance plan

Manulife-Sinochem Life Insurance, China's first foreign joint venture life insurer, has introduced its No. 1 private pension insurance product to cater to the aging population. The Chinese JV of the Canadian financial giant launched the Worry-Free Retirement Pension Annuity which grows at an average compound annual rate of 3% if chosen to be received yearly, Yicai Global reported, citing a media statement from the Shanghai-based joint venture. Eligible participants can furthermore enjoy concierge services, as well as home-based or community-based care. "The introduction...

August 31, 2023

NewsChina, Private Pensions

23JulJuly 23, 2023

China pensions reform: Winning strategies for global asset managers amid evolution in retirement market

By Asifma Major reforms to the Chinese Mainland’s pensions system are creating new opportunities for asset managers. This report, jointly authored by KPMG China and ASIFMA, explores the background to China’s evolving three-pillar pensions system and the demographic factors that necessitated the current reforms, and shares insights from market players on the challenges as well as the opportunities. Pillars 2 and 3 of the pensions assets industry in China could grow to as much as 15-21 trillion RMB by 2030 under...

July 23, 2023

Books, Books, Reports, System Characterization2023, China, Pension Reform, Private Pensions

13JulJuly 13, 2023

China’s $400 Billion Pension Sends New Warning on Debt Risks

One of China’s biggest state-run investors is adding to the chorus of warnings over debt risks at the nation’s cash-strapped developers and local government financing vehicles. The National Council for Social Security Fund, which oversees about $417 billion according to the latest available figures, has advised asset managers that handle its money to sell some bonds including those from riskier LGFVs and private developers after a review, people familiar with the matter said, asking not to be identified discussing private...

July 13, 2023

NewsChina, Private Pensions, Risk

27JunJune 27, 2023

China’s private pension market could be US$969 billion opportunity for foreign firms by 2030: KPMG report

Ongoing reforms to China's challenged retirement system present big opportunities for global asset managers wanting to tap into the 28 trillion yuan (US$3.8 trillion) potential market, according to a joint report by KPMG China and the Asia Securities Industry and Financial Markets Association (ASIFMA). China's pension system is in urgent need of reform, as the current framework is unable to cope with the needs of an increasingly elderly population, Eugenie Shen, head of ASIFMA Asset Management Group, said in the...

June 27, 2023

NewsChina, Private Pensions

September 2024

Pension Coverage and Informal Sector Workers: International Experiences

The Future of Retirement Security An International Comparison through the Lens of Adequacy, Sustainability, Equity and Plan Design

May 2024

Financial Fragility, Financial Resilience, and Pension Distributions

April 2024

January 2024

China promotes full implementation of private pension system

October 2023

International Organisation of Pension Supervisors (IOPS) annual meeting on at Victoria Falls

August 2023

China: Manulife-Sinochem Life launches its first private pension insurance plan

July 2023

China pensions reform: Winning strategies for global asset managers amid evolution in retirement market

China’s $400 Billion Pension Sends New Warning on Debt Risks

June 2023

China’s private pension market could be US$969 billion opportunity for foreign firms by 2030: KPMG report