Public Pensions Archives - Page 15 of 33 - Pension Policy International

06JulJuly 6, 2022

Greece to allow pension increases from 2023, first since debt crisis- PM

Greece's Prime Minister Kyriakos Mitsotakis promised pension increases for the first time in more than a decade next year, saying Greece had definitively turned a page from the financial chaos which required three international bailouts. During its decade-long financial crisis that broke out in 2009, Greece was forced by its international lenders to slash pensions more than 10 times to reduce state spending and meet its fiscal targets. "Everyone must benefit from growth without threatening the fiscal balance or the country's...

July 6, 2022

News2022, Greece, Public Pensions

23JunJune 23, 2022

Swedish parliament passes mini-budget after pensions compromise

Sweden's parliament passed the government's extra budget on Wednesday after weeks of disagreement over extra money for pensioners, paving the way for increased spending on the police, defence and additional aid to Ukraine. The minority Social Democrat government, which hopes to win a third successive term in power at a general election in September, was forced to vote against its own budget last week to avoid having to adopt the opposition's finance bill. It then reintroduced interim spending plans, including around...

June 23, 2022

NewsPublic Pensions, Public spending, Sweden

21JunJune 21, 2022

Portugal. “Historic increase” in pensions

The Prime Minister has assured that the Government will comply with the law and in 2023 there will be a “historic increase” in the value of pensions as a result of the drastic rise in inflation and the high economic growth registered this year. This perspective on the evolution of pensions in the coming year was passed on by António Costa at a CNN Portugal conference, which included a special broadcast of the program “The Principle of Uncertainty”. Asked by journalist...

June 21, 2022

News2022, Portugal, Public Pensions

01JunJune 1, 2022

European Union Will Lend Ukraine EUR 9 Billion for pensions, among others

The European Union Summit has decided to provide Ukraine with an urgent loan in the amount of EUR 9 billion to pay off urgent budgetary needs. President of the European Commission Ursula von der Leyen stated this at a press conference on the night of May 31, European Pravda reports. "Ukraine needs urgent financial support. As you know, about EUR 5 billion is required monthly in Ukraine to support basic payments, such as salaries, pensions, etc.," von der Leyen recalled, speaking...

June 1, 2022

News2022, EU, Public Pensions, Ukraine

30MayMay 30, 2022

Spain: Spending On Pensions Reached A Record 10.81 Billion Euros In May, Up 4.8%

The Social Security allocated a record 10.81 billion euros to the payment of contributory pensions this May, 4.8% more than in the same month of 2021, the Ministry of Inclusion, Social Security and Migration said on Friday. The Department headed by José Luis Escrivá estimates that spending on pensions stood at 11.8% of GDP in the fifth month of the year, a lower percentage than in 2020 (12.4% of GDP), a year conditioned by the impact of the pandemic...

May 30, 2022

News2022, Public Pensions, Spain

26MayMay 26, 2022

Putin hikes Russian pensions, plays down Ukraine impact on economy

President Vladimir Putin ordered 10% rises on Wednesday in pensions and the minimum wage to cushion Russians from inflation, but denied the country's economic problems were all linked to the war in Ukraine. With annual inflation near 18% last month, the Kremlin leader acknowledged that 2022 would be a "difficult" year for the Russian economy. "When I say 'difficult', it doesn't mean all these difficulties are connected to the special military operation," Putin told a televised meeting of the State Council...

May 26, 2022

News2022, Public Pensions, Russia

25MayMay 25, 2022

Greece. First year of pension increases after 12 years

“Next year will be the first year of increasing pensions for the first time, after 12 years,” Deputy Labor and Social Affairs Minister Panos Tsakloglou said in an interview with the Athens-Macedonian News Agency on Sunday, noting that the government has supported the income of pensioners in several ways. Tsakloglou also referred to the challenges he was called to face when he took over the post and focused on the emblematic, as he characterized it, reform in the architecture of...

May 25, 2022

News2022, Greece, Public Pensions

24MayMay 24, 2022

Kenya. Pension bill goes up by Sh40bn in 10 months

Kenya’s pension bill increased by Sh39.5 billion in the 10 months to April, the sharpest growth in five years, highlighting the growing pressure on the Exchequer in paying retired civil servants. The latest data from the Treasury shows that Kenya spent Sh113.72 billion on pensions in the period under review, a 53 percent jump from Sh74.19 billion in the corresponding period last year. This is also the first time that Kenya’s expenditure on pensions in the first ten months of a...

May 24, 2022

News2022, Kenya, Public Pensions

12MayMay 12, 2022

What Share of Noncovered Public Employees Will Earn Benefits that Fall Short of Social Security?

By Jean-Pierre Aubry, Siyan Liu, Alicia H. Munnell, Laura Quinby & Glenn Springstead Social Security is designed to serve as the base of retirement support, to be supplemented by employer-sponsored plans. However, approximately one-quarter of state and local government employees – currently, around 5 million workers annually – are not covered by Social Security on their current job. Federal law allows these noncovered workers to remain outside of Social Security if their state or local plan provides comparable benefits. Since...

May 12, 2022

Articles, Pension design, System Characterization2022, Public Pensions, Social Security, US

12MayMay 12, 2022

Nigeria. Civil war veterans protest 44 years unpaid pensions in Ibadan

Some retired military men who fought during the Nigerian civil war protested their 44 years of unpaid pensions on Wednesday in Ibadan, Oyo State capital. The group under the umbrella of the First Intake Able Voluntary Retired Or Discharged Ten Or More Years in Military Service, and led by their national coordinator, Babawande Philips, took to the streets of Ibadan with placards bearing various inscriptions. Mr Philips said the ex-military men had continued to suffer in the last 44 years when...

May 12, 2022

News2022, Nigeria, Pension Payout, Public Pensions

July 2022

Greece to allow pension increases from 2023, first since debt crisis- PM

June 2022

Swedish parliament passes mini-budget after pensions compromise

Portugal. “Historic increase” in pensions

European Union Will Lend Ukraine EUR 9 Billion for pensions, among others

May 2022

Spain: Spending On Pensions Reached A Record 10.81 Billion Euros In May, Up 4.8%

Putin hikes Russian pensions, plays down Ukraine impact on economy

Greece. First year of pension increases after 12 years

Kenya. Pension bill goes up by Sh40bn in 10 months

Nigeria. Civil war veterans protest 44 years unpaid pensions in Ibadan