November 2024
15Nov

Can Flexible Jobs Drive the Future of Work? Lessons from MENA

By Carole Chartouni, Khalid Moheyddeen, Ramy Zeid, Rada Naji & Montserrat Pallares-Miralles The evolving nature of work is prompting a global shift towards more adaptable and flexible employment practices. Work is no longer only a place you go to for a 9 to 5 job – it is transforming into a dynamic concept as an ever-growing number of people are gravitating towards flexible employment models, often referred to as non-standard forms of employment (NSEs). Growing evidence shows that as people increasingly value...

November 15, 2024
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08Nov

US. Republicans Break Protocol to Kill Social Security Benefits Expansion Bill

While many Republicans have called to protect or even expand Social Security benefits, GOP lawmakers killed a bill that would help millions of Americans get higher monthly payments. Experts spoke with Newsweek about the possible motives behind the move. A Social Security bill that would have repealed two rules that lower benefits for certain retirees was brought forward by House Reps. Garret Graves, (R-LA) and Abigail Spanberger (D-VA). Despite the bill previously having a wide range of bipartisan support and Graves and Spanberger securing the 218 signatures needed...

November 8, 2024
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October 2024
17Oct

Why the US lags globally in retirement security

The United States ranks 29th out of 48 countries Mercer and the CFA Institute evaluated for their global pension index published this week. That equates to a C-plus letter grade, with a peer group of the United Arab Emirates, Kazakhstan, Hong Kong, Spain, Colombia, and Saudi Arabia. All of those countries have systems with “some good features but also ha[ving] major risks and/or shortcomings that should be addressed,” the report stated. “Without these improvements, its efficacy and/or long-term sustainability can be...

October 17, 2024
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01Oct

US. Here’s How Gen Xers Are Catching Up on Retirement Savings

Key Takeaways The oldest Gen Xers are already eligible to withdraw from retirement accounts penalty-free. Gen Xers are often underprepared for retirement but can improve by increasing savings and adjusting their budget. Unlike baby boomers with pensions, Gen X relies heavily on 401(k)s. During their highest earning years, Gen Xers can maximize retirement savings. Roth IRAs and 401(k)s can offer tax advantages for Gen Xers in retirement. Sandwiched between the more populous boomer generation and even more populous Millennials, Gen...

October 1, 2024
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September 2024
25Sep

US. 5 Ways a Kamala Harris Presidency Could Impact Retirees

Vice President Kamala Harris wasn’t even a contender for the White House earlier this year, but she is now the Democratic nominee for the presidency and running neck and neck with her Republican opponent, former President Donald Trump. If she wins, she is expected to promote policies that could affect the bottom line of millions of retirees. “There’s been nothing that she’s said that would lead me to believe she’s a negative to retirees,” says Chris Orestis, president of Retirement Genius,...

September 25, 2024
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23Sep

The U.S. Retirement System Will Fail Most Future Retirees

Careful research by Ph.D economists concludes America faces a huge retirement shortfall. We are about eight to nine years away from Social Security's inability to pay full benefits; all boomers are past age 60, and the typical Gen Y and Millennial is predicted to do a little worse or much worse than the cohorts of their big brothers, sisters, and parents. The erosion in retirement security is worse for the bottom 60% or so of the earnings distribution. Yes,...

September 23, 2024
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20Sep

Optimising Bangladesh’s Universal Pension Framework: From Lessons to Actions

By Samiha Chowdhury Social protection for the elderly, in the form of the Old-age Allowance (OAA) Programme, has been operational in Bangladesh since 1998, offering monthly financial support to senior citizens from poor and vulnerable households. As of FY24, the programme has approximately 5.8 million elderly people as beneficiaries, each receiving Tk.600 per month distributed on a quarterly basis. Apart from this, retirement benefits for the government employees and their families can also be considered a social protection programme for...

September 20, 2024
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17Sep

Precarity trap: Gig economy failing Asia’s youth

Precarious employment among youth in the Asia-Pacific region has become an increasingly urgent issue, with a growing number of young people trapped in temporary jobs without social security or long-term contracts. According to the International Labor Organization’s Global Employment Trends for Youth 2024 report, over 28% of youth in Southeast Asia and the Pacific were engaged in temporary employment that lacked financial security and social protections in 2023. This situation not only undermines the financial stability of individuals but also has...

September 17, 2024
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August 2024
20Aug

China plans ‘bigger, stronger’ social security fund to aid ageing society

China will beef up its 2.88 trillion yuan ($406 billion) social security fund, making it "bigger and stronger" to help support its rapidly ageing population as the number of new births and younger workforce to support its seniors shrinks. The National Social Security Fund will "effectively" respond to population ageing and "improve the policy mechanism for the development of the elderly care industry," the fund's party secretary Ding Xuedong said in comments made in Communist Party newspaper, the Study Times...

August 20, 2024
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July 2024
31Jul

The 2024 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds

By Social Security Administration The Trustees Report includes many tables containing historical data and projections. For convenience, we provide the reader with links to view all of these tables in one place, without the accompanying text of the report. Note that the tables in the report generally present results only for every fifth year. Therefore, we also provide links to supplemental tables by single year for readers requiring more detail. Reference should always be made to the published report for...

July 31, 2024
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