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March 2025

20Mar

US. Some retirees will see bump in Social Security benefit starting next month

Retirement just got a little boost for many public sector retirees and their spouses. By the end of this month, more than 3 million Social Security recipients affected by the Social Security Fairness Act that President Biden signed into law in January will see a bump in their benefits. This law increases monthly Social Security benefits for certain types of workers, including some teachers, firefighters, and police officers in many states, federal employees covered by the Civil Service Retirement System, and...

March 20, 2025
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February 2025

26Feb

US. Public Pension Plans Reach 5-Year High of 83.1% Funded

Public pension funds’ funded status has risen to a five-year high amid equity market strength, according to a study from the National Conference of Public Employees Retirement Systems. The annual NCPERS retirement study, which the organization has conducted since 2011, found that the average public pension has seen its funded status reach 83.1% through the first half of 2024, typically when the fiscal years for these plans ended. The report also found that discount rates have decreased to an average of 6.67%...

February 26, 2025
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12Feb

UK. Labour Confirms No WASPI Compensation Despite Ombudsman Findings

The Labour government has announced that it will not provide compensation to WASPI (Women Against State Pension Inequality) campaigners, despite findings of maladministration by the Parliamentary and Health Service Ombudsman (PHSO). The decision comes after years of campaigning by women born in the 1950s, who argue that failures in state pension communication left them financially unprepared for increases to the state pension age. While the government has accepted the ombudsman’s findings and apologised for delays in notifying affected women, it has ruled out compensation, citing the difficulty of identifying those who suffered financial losses and the potential...

February 12, 2025
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10Feb

Youth Climate Council Ghana rejects Parliament’s plan to use carbon funds for MPs’ pensions

The Youth Climate Council Ghana (YCC) has strongly condemned a recent proposal by Parliament to fund Members of Parliament’s (MPs) pension schemes using revenue from the country’s carbon credit market. The youth-led organisation has labelled the move as a direct violation of Ghana’s climate commitments and a dangerous misallocation of resources meant for sustainability initiatives. It has therefore asked Parliament to revoke the proposal and prioritise long-term environmental and economic sustainability over short-term political convenience. According to YCC, diverting carbon finance...

February 10, 2025
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January 2025

31Jan

NIRS’ Pensionomics 2025 Report

By Andrew Clark Earlier this month, the National Institute on Retirement Security (NIRS) released its bi-annual Pensionomics report, which details how spending from defined-benefit pensions boosts economies in communities nationwide and continues to be a reliable economic driver for millions of people. The report examines the impact of pensions on local economies nationwide by calculating the benefits paid to retirees and the subsequent spending generated by these benefits. This analysis includes tax revenue and local expenditures, which stimulate the broader economy, leading...

January 31, 2025
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28Jan

Russia Announces Major Pension Indexation Updates

Russian President Vladimir Putin recently announced significant updates to the pension indexation system, which will take effect from January 2025. These changes aim to adjust pension payments based on actual inflation rates, enhancing the financial support available to millions of retirees across the country. Starting January, the insurance pensions for both working and non-working pensioners were initially indexed by 7.3%. Recognizing the necessity for more substantial support amid rising inflation, Putin proposed to retroactively increase the indexation to 9.5% effective...

January 28, 2025
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December 2024

10Dec

Belgium. Staggering Pension Gap Revealed: Shocking Differences Between Civil Servants and Workers

The ongoing formation of a new federal government in Belgium, led by Bart De Wever, is facing significant challenges. A key issue at the forefront is the pension reform aimed at achieving substantial savings. As Stijn Baert highlighted on ‘De tafel van Gert’, the disparity between public and private sector pensions raises questions. How can this gap be addressed effectively? Fast Answer: Belgium’s pension reform discussions reveal a stark contrast between public and private sector pensions, with civil servants earning significantly more. This...

December 10, 2024
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04Dec

China raises veterans’ pensions for 20th consecutive year

In a move that underscores its commitment to supporting military veterans, China has announced increases to the pensions and living allowances enjoyed by certain retired service members and other eligible recipients. The adjustment marks the 20th consecutive year that China has raised allowances for veterans, reflecting a sustained emphasis on honoring their service, according to the Ministry of Veterans Affairs. China has been working to better protect the rights and interests of the country's ex-servicemen and improve their well-being. In August, China...

December 4, 2024
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November 2024

26Nov

Romania’s Govt. announces 12.1% hike in pensions as of January

Pensions in Romania will increase with the hike in the reference point value (VPR), rising by 12.1%  from RON 81 currently to RON 91 after January 1, 2025, the Ministry of Labor announced on November 20 on its Facebook page. "The 12.1% increase in the VPR is above the inflation rate.  The new Pension Law is a firm guarantee that every pensioner will benefit from a sustainable increase in income," said the minister of labor and social solidarity, Simona Bucura Oprescu,...

November 26, 2024
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22Nov

Public Pension Funding Index November 2024

By Rick Gordon & Rebecca A. Sielman October 2024 broke the five-month positive investment return streak for public pensions, prompting a decrease in the estimated funded status of the 100 largest U.S. public pension plans from 82.8% as of September 30, 2024, to 81.2% as of October 31, 2024, as measured by the Milliman 100 Public Pension Funding Index (PPFI). We estimate a calendar year-to-date investment return of 7.6% through the end of October. We have projected the aggregate funded status forward from October...

November 22, 2024
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