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

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

02MarMarch 2, 2023

Thailand. Political parties grapple with funding constraints for pension plans in run-up to general election

“Thailand will be a full-fledged aging society this year, as citizens 60 years old and above will represent 20 per cent of the total population,” said Worawan Plikhamin, deputy secretary-general at the National Economic and Social Development Council (NESDC), a state-run think-tank. Senior citizens will comprise 30 percent of the country’s population in 2037, making the country a super-aging society. The rising number of senior citizens offer both opportunities and challenges to the country. On the business side, there is scope...

March 2, 2023

NewsAdequacy, Aging, Public Pensions, Thailand

17FebFebruary 17, 2023

Putting Labor’s Capital to Work for Labor: Restoring a Worker-Centric Vision of Fiduciary Duty

By David H. Webber This report has two goals: first, to illustrate how the legal concept of fiduciary duty, designed to protect worker retirement funds, has been captured and distorted in ways that harm workers. Second, to propose means of restoring fiduciary duty to its proper purpose. The state-level fiduciary duties addressed in this report govern the investment of up to $10 trillion in assets and directly shape the retirements of 26 million working-class Americans. They are also just about...

February 17, 2023

Articles, Labor Market2023, Defined Benefit, Pension Management, Public Pensions

07FebFebruary 7, 2023

US. Public pension funds lowered expectations for returns as expenses spiked in fiscal 2022

Public retirement systems saw their expenses rise in fiscal 2022, while many reduced their assumed rates of return, according to an annual study by the National Conference on Public Employee Retirement Systems. In fiscal 2022, the pension systems averaged 64 basis points in administrative costs and investment manager fees, up from 54 points the year before. Systems lowered their assumed rates of returns to an average 6.86%, from 7.07% a year earlier. Among all respondents, 60% said they lowered those rates...

February 7, 2023

NewsPublic Pensions, Returns, US

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

Thailand. Political parties grapple with funding constraints for pension plans in run-up to general election

February 2023

Putting Labor’s Capital to Work for Labor: Restoring a Worker-Centric Vision of Fiduciary Duty

US. Public pension funds lowered expectations for returns as expenses spiked in fiscal 2022