Retirement Age Archives - Page 8 of 20 - Pension Policy International

22MarMarch 22, 2023

UK. Ministers reportedly scrap plan to bring forward rise in UK state pension age

Ministers have reportedly delayed plans to bring forward a rise in the state pension age amid falling life expectancy in the UK. The state pension age, which is currently 66, was due to rise to 68 after 2044 but reports earlier this year suggested ministers had planned to bring the increase forward to between 2037 and 2039. However, the Financial Times has reported ministers have decided to delay making a decision until after the next general election because of fears about...

March 22, 2023

NewsRetirement Age, UK

21MarMarch 21, 2023

France’s government survives no-confidence votes as pension reforms move ahead

Parliament adopted a divisive pension bill Monday raising the retirement age in France from 62 to 64, after lawmakers in the lower chamber rejected two no-confidence votes against the government. But the bill pushed through by President Emmanuel Macron without lawmakers' approval still faces a review by the Constitutional Council before it can be signed into law. The council has the power to reject articles within bills but usually approves them. The first no-confidence motion, proposed by a small centrist group...

March 21, 2023

News2023, France, Pension Reform, Retirement Age

17MarMarch 17, 2023

Pension Tax Limits

By Gov.UK Individual members of registered pension schemes who make annual pension contributions over the standard annual allowance (AA), money purchase annual allowance (MPAA), or tapered annual allowance (tapered AA), and who therefore expect to become subject to an AA charge. Individual members of registered pension schemes who already have or expect to have pension savings exceeding either the standard lifetime allowance (LTA) or their protected LTA, and who therefore expect to become subject to an LTA charge. Scheme administrators of registered pension schemes who will need to...

March 17, 2023

Books, Books, Regulation2023, Retirement Age, savings, Taxation, UK

17MarMarch 17, 2023

The Health-Consumption Effects of Increasing Retirement Age Late in the Game

By Eve Caroli, Catherine Pollak & Muriel Roger Using the differentiated increase in retirement age across cohorts introduced by the 2010 French pension reform, we estimate the health-consumption effects of a 4-month increase in retirement age. We focus on individuals who were close to retirement age but not retired yet by the time the reform was passed. Using administrative data on individual sick-leave claims and non-hospital health-care expenses, we show that the probability of having at least one sickness absence...

March 17, 2023

Articles, Pension design2023, Pension Reform, Retirement Age

17MarMarch 17, 2023

Macron puts his government at risk with decision to raise the retirement age in France

French President Emmanuel Macron imposed a highly unpopular bill raising the retirement age from 62 to 64 on Thursday by shunning parliament and invoking a special constitutional power. Lawmakers were shouting, their voices shaking with emotion as Macron made the risky move, which is expected to trigger quick motions of no-confidence in his government. Riot police vans zoomed by outside the National Assembly, their sirens wailing. The proposed pension changes have prompted major strikes and protests across the country since January....

March 17, 2023

News2023, France, Pension Reform, Retirement Age

16MarMarch 16, 2023

UK abolishes tax threshold on pension allowance to encourage people to work longer

British finance minister Jeremy Hunt on Wednesday said he would abolish the tax thresholds high earners face when they invest in pensions, in a bid to encourage them to keep working and reduce the number of people taking early retirement. Hunt said in his annual budget that he would scrap the so-called lifetime allowance, which had meant that people faced a 25% levy if they saved around 1.1 million pounds ($1.33 million)in their pension pots. The capped amount of money that...

March 16, 2023

NewsRetirement Age, savings, Taxation, UK

14MarMarch 14, 2023

China to raise retirement age to deal with aging population – media

China is planning to raise its retirement age gradually and in phases to cope with the country's rapidly aging population, the state-backed Global Times said on Tuesday, citing a senior expert from China's Ministry of Human Resources. Jin Weigang, president of the Chinese Academy of Labor and Social Security Sciences, said China was eyeing a "progressive, flexible and differentiated path to raising the retirement age", meaning that it would be delayed initially by a few months, which would be subsequently...

March 14, 2023

NewsChina, Retirement Age

13MarMarch 13, 2023

GOP lawmaker says US should consider raising retirement age for future Social Security beneficiaries

Republican Rep. Nancy Mace of South Carolina said Sunday that raising the retirement age for future Social Security beneficiaries should be “on the table” as long as it doesn’t affect “anybody that’s heading into retirement right now.” “I think that’s something that has to be on the table, we have to look at,” Mace told CNN’s Kaitlan Collins on “State of the Union” when asked about Republican presidential candidate Nikki Haley’s call for a higher retirement age for Americans who...

March 13, 2023

NewsRetirement Age, US

10MarMarch 10, 2023

French Senate votes to raise retirement age from 62 to 64 amid nationwide strikes

France's Senate voted Thursday to raise the retirement age by two years to 64, as the government moves to overhaul the country's pensions system in the face of strong opposition from labour unions. The conservative-dominated legislative body voted in favour of a decisive article to raise the age of retirement by 201 votes to 115. Debate will resume later on Thursday over a controversial amendment to the bill. The Senate majority is rushing to meet a deadline of midnight Sunday to finalise...

March 10, 2023

NewsFrance, Pension Reform, Retirement Age

09MarMarch 9, 2023

Reverse SSNIT policy that disqualifies persons aged 60 from contributing to scheme – ACRR petitions NPRA

The Africa Centre for Retirement Research (ACRR) has petitioned the National Pensions Regulatory Authority (NPRA) to reverse the Social Security and National Insurance Scheme (SSNIT) policy that disqualifies members aged 60 and above from contributing to the scheme. The group in a statement dated March 7 noted that if the policy is not reversed, “it will adversely and significantly affect the retirement wellbeing of over 11,000 workers and even more in the future.” This comes after SSNIT issued a policy directive...

March 9, 2023

NewsGhana, Retirement Age, savings

March 2023