June 2024
26Jun

Ghana. SSNIT drags railways MD to court for nonpayment of contributions

The Social Security and National Insurance Trust (SSNIT) office in Takoradi has dragged the Ghana Railways Corporation (GRC) and its Managing Director, Michael Adjei Anyetei, to court for nonpayment of social security contributions of the entity’s workers to the tune of GH¢4.13 million. The Circuit Court presided over by Araba Nunoo, issued the warrant for the arrest of the managing director after the SSNIT Prosecutor, Ann-Marie Annan, applied for a bench warrant to that effect. The prosecutor told the court that...

June 26, 2024
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13Jun

South Africa. Government pension fund systems offline for months after ransomware attack

The Government Employees Pension Fund (GEPF) suffered a cyberattack in February 2024, and it only expects to restore its self-service functionality by 21 June 2024. A notice published on the GEPF’s social media pages says the self-service functionality on its web platform and app was still offline due to the data breach at the Government Pensions Administration Agency (GPAA). “The GPAA has determined that a total rebuild of the platforms is necessary to ensure a stronger platform,” it said. It is expected...

June 13, 2024
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12Jun

Argentina. Detectan miles de pensiones por invalidez que “no reunían los requisitos para ser otorgadas”

La administración de Javier Milei comenzó a auditar las pensiones no contributivas por invalidez, que, según cifras oficiales, reciben 1.215.548 personas. Un análisis de la Agencia Nacional por Discapacidad arrojó que sobre una muestra de 3000, el 80% no debería haber sido otorgada. Por este motivo, representantes del Ejecutivo contemplan judicializar este asunto, a la vez de endurecer el acceso a este beneficio. El jefe de Gabinete, Guillermo Francos, valoró esta situación como una “irresponsabilidad”. La pensión no contributiva por invalidez es una asignación...

June 12, 2024
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April 2024
24Apr

UK. DWP declares 34,500 claimants have to pay back benefits or face fines up to £20,000

The Department for Work and Pensions (DWP) is facing a storm of criticism as it has ordered 34,500 people to repay benefits, with fines reaching up to £20,000. This comes amid calls for the DWP to review its handling of Carer's Allowance after it was revealed that thousands of carers are being overpaid and later hit with hefty repayment demands. In a dramatic turn of events, a UK government dementia adviser has stepped down in protest against the DWP's "beyond the pale" legal...

April 24, 2024
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November 2023
16Nov

UK pension regulator outlines challenges and plans for scheme transformation

Louise Davey from The Pensions Regulator (TPR) addressed the complex issue of pension decumulation during an ABI webinar Today. She outlined TPR's strategy to transform UK pension schemes into full-service providers that support savers from the accumulation phase through to retirement. Davey highlighted the limitations of current trust-based pension schemes and underscored TPR's support for the Department for Work and Pensions (DWP) proposal to mandate these schemes to offer decumulation products and services. She emphasized the evolution of the UK...

November 16, 2023
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October 2023
19Oct

International Organisation of Pension Supervisors (IOPS) annual meeting on at Victoria Falls

FINANCE, Economic Development and Investment Promotion Minister, Prof Mthuli Ncube has officially opened the International Organisation of Pension Supervisors (IOPS) annual meeting where he called for development of the pensions and financial sector in the region in line with international protocols. The meeting is being attended by pension supervisors from around the world and started on Tuesday with the IOPS committee closed door meetings and will end tomorrow. Among the delegates attending the meetings are representatives of pension supervisory authorities from...

October 19, 2023
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September 2023
14Sep

UK. TPR to ‘work more closely’ with pension administrators

The Pensions Regulator (TPR) has said it is planning to "work more closely" with third-party administrators (TPAs) and has updated on recent progress in a blog published today (13 September). The blog, written by TPR interim head of relationship supervision Cliodhna Judge, outlined how a recent pilot project on an ‘administrator relationships' function has led to better engagement with TPAs. The project, which has been running since early 2022, involved working with a voluntary administrator to "explore potential risk areas", and...

September 14, 2023
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August 2023
30Aug

México. Gobierno exhibe esquema de defraudación en pensiones ISSSTE; daños ascienden a 15 mil millones de pesos

El procurador fiscal de la Federación, Félix Arturo Medina Padilla, dio a conocer la identificación de un esquema de saqueo y defraudación en el Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (ISSSTE), el cual generó afectaciones al patrimonio de la institución por 15 mil millones de pesos en pensiones durante más de 12 años.   A partir del proceso de rescate y nacionalización del ISSSTE, la Procuraduría Fiscal de la Federación detectó un modelo de corrupción en el que extrabajadores...

August 30, 2023
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July 2023
23Jul

The pensions regulator’s annual report and accounts 2022-2023

By The Pensions Regulator The Pensions Regulator (TPR) is the UK regulator of workplace pension schemes. We make sure that employers put their staff into a pension scheme and pay money into it. We also make sure that workplace pension schemes are run properly so that people can save safely for their later years. Read book “here”

July 23, 2023
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06Jul

Kenya. Treasury plans to go after counties over pensions debt

The National Treasury and Kenya Revenue Authority (KRA) have trained their guns on counties that have failed to remit statutory deductions to pension schemes. With the non-remittances hitting Sh90.69 billion in May, Treasury is now mulling deducting the outstanding arrears directly from the counties equitable share of revenue and the taxman engaged to collect the debt. Appearing before the Senate’s County Public Investments and Special Funds Committee, Treasury Cabinet Secretary Njuguna Ndung’u said that in consultation with the Retirement Benefits Authority,...

July 6, 2023
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