Public Pensions Archives - Page 9 of 33 - Pension Policy International

04MayMay 4, 2023

U.S. Corporate pension plans stay at or near 100% funded in April

U.S. corporate pension plans remained at or near 100% funded in April after slightly positive returns and slightly falling discount rates kept the numbers from moving too much, according to three new monthly reports. Legal & General Investment Management America estimated the average funding ratio of the typical U.S. corporate pension plan was 100.5% as of April 30, up from 100.3% a month earlier. In its latest monthly Pension Solutions Monitor, LGIMA said the estimated average funding ratio rose in April...

May 4, 2023

NewsFunding, Public Pensions, US

28AprApril 28, 2023

US. Closing Pensions For Public Workers Has Proven A Mistake

A measure to close North Dakota's public pension plan is headed to Governor Doug Burgum's desk for signature. Before enacting the measure, the state’s chief executive would be wise to look at the experience of other states that have made such a drastic move. State leaders have learned the hard way that ending pension benefits comes with little to be gained and a big price to pay. More specifically, states that shifted new employees from defined benefit pensions to defined...

April 28, 2023

NewsPublic Pensions, US

27AprApril 27, 2023

US. Aging Population, Higher Life Expectancy Put Pressure on Global Pension Systems

Even though the COVID-19 pandemic caused millions of premature deaths and wiped out nearly a decade of life-expectancy gains, longevity is projected to return to its previous trend and rise to a global average of 77.3 years by 2050 from a global 73.4 years in 2023, data from the 2023 Allianz Pension Report shows. While the American pension system is rated among the best in the world by the Allianz Pension Index, it remains unclear if the U.S. public pension...

April 27, 2023

NewsLongevity, Public Pensions, Sustainability, US

30MarMarch 30, 2023

Pension Spending Soars 10% To €12 Billion In March As Spain Takes On €6 Billion A Month In Debt

Social Security paid out €11,945.6 million in contributory pensions in February, 3 billion more than the 8,946.9 million in March 2018, a few months before Pedro Sánchez came to government. The average monthly retirement pension shot up from the €1,260 it stood at in December 2022 to €1,372 per month, up 9.7%. And since there were no differences by amount bracket, the maximum pension exceeded €3,000 per month for the first time. The average amount of new pension registrations in...

March 30, 2023

NewsPublic Pensions, Spain

28MarMarch 28, 2023

China’s Cities Are Buried in Debt, but They Keep Shoveling It On

China has long pursued growth by public spending, even after the payoff has faded. Cities stuck with the bill are still spending — and cutting essential services. In 2015, when Shangqiu, a municipality in central China, laid out a plan for the next two decades, it positioned itself as a transportation hub with a sprawling network of railways, highways and river shipping routes. By the end of 2020, Shangqiu had built 114 miles of high-speed rail, and today several national railways...

March 28, 2023

NewsChina, Public Pensions

21MarMarch 21, 2023

US. Some Public Pension Funds Are Pulling Back on Private Equity

Some U.S. public pension and investment funds are pulling back on private equity after a decade of state and local retirement systems aggressively pursuing the expensive, risky and hard-to-trade asset class. Maryland’s $65 billion retirement system is investing less new money in private equity. At Alaska’s $77 billion state fund, the investment chief wants to cancel a planned ramp-up. And the $615 million pension fund of Mendocino County, Calif., last month opted against introducing private equity to its investment mix. “We...

March 21, 2023

NewsInvestment, Public Pensions, US

16MarMarch 16, 2023

Czech president: will sign bill allowing slower rise in pensions

Czech President Petr Pavel said on Wednesday he would sign a bill slowing down an inflation-linked pension hike, a bill the ruling coalition pushed through to relieve pressure on budget at the time of soaring inflation. The centre-right government of Prime Minister Petr Fiala has said the bill would save around 20 billion crowns ($879 million) worth of spending in the central budget, currently planned with a 295 billion-crown deficit this year. The change has to be implemented by late March...

March 16, 2023

NewsCzech Republic, Public Pensions

06MarMarch 6, 2023

Why Latin nations pay lifetime pensions to their former presidents

A question runs through Latin America and creates controversy: Should presidents who leave office receive special pensions for the rest of their lives? In recent months, there have been requests from legislators in the countries of Argentina, Ecuador or Costa Rica to remove life pensions for former heads of state, as Mexico previously revealed how much they cost. This type of payment has existed in other parts of the world and in Latin America for decades, not only to compensate presidents...

March 6, 2023

NewsLatin America, Public Pensions

03MarMarch 3, 2023

Government spending in Spain from a European perspective

By Mario Alloza, Julia Brunet, Victor Forte-Campos, Enrique Moral-Benito & Javier J. Pérez This document presents a detailed analysis of the structure of general government spending in Spain and its recent evolution in comparison to the rest of the European countries. The weight of Spanish public spending is similar to that of neighbouring countries, although below the average for a reference group of European countries (EU-15). Thus, in 2019 the level of public spending stood at 42% of GDP compared to...

March 3, 2023

Articles, System Characterization2022, EU, Political economy, Public Pensions, Spain

03MarMarch 3, 2023

Egypt. President announces raising minimum wage, pensions

Egypt’s President Abdel Fattah Al-Sisi announced raising the minimum wage for government employees to EGP 3,500 and raising pensions by 15% starting 1 April. The Egyptian president announced raising the minimum wage for government employees holding a Master’s degree to EGP 6,000 and to EGP 7,000 for those holding a PhD. President Al-Sisi also said that income tax exemption was raised to EGP 30,000 annually, up from EGP 24,000. He also revealed that Takaful and Karama Cash Transfer Programme benefits were also...

March 3, 2023

NewsAdequacy, Egypt, Public Pensions

May 2023

U.S. Corporate pension plans stay at or near 100% funded in April

April 2023

US. Closing Pensions For Public Workers Has Proven A Mistake

US. Aging Population, Higher Life Expectancy Put Pressure on Global Pension Systems

March 2023

Pension Spending Soars 10% To €12 Billion In March As Spain Takes On €6 Billion A Month In Debt

China’s Cities Are Buried in Debt, but They Keep Shoveling It On

US. Some Public Pension Funds Are Pulling Back on Private Equity

Czech president: will sign bill allowing slower rise in pensions

Why Latin nations pay lifetime pensions to their former presidents

Government spending in Spain from a European perspective

Egypt. President announces raising minimum wage, pensions