Withdrawals Archives - Page 7 of 8 - Pension Policy International

23AprApril 23, 2021

Chile Pension Furor Grows Over Third Round of Withdrawals

Chile’s senate on Thursday approved legislation allowing early pension fund withdrawals, just days after President Sebastian Pinera challenged the bill’s legality in the Constitutional Court. Read also Chile begins debate on third pension withdrawal amid second wave of the pandemic Lawmakers including several Pinera allies backed the bill permitting workers to tap as much as 10% of their retirement savings for the third time since the pandemic started, with 31 votes in favor and 11 against. The proposal will return to...

April 23, 2021

News, Slider2021, Chile, COVID-19, Social Protection, Withdrawals

26MarMarch 26, 2021

Chile begins debate on third pension withdrawal amid second wave of the pandemic

The Constitution Committee of the Chamber of Deputies will analyze five legislative initiatives, opposed by the Government and presented by parliamentarians and pro-government members, and will decide whether to merge them into a single one, since they have similar characteristics. Read also Colombia govt presents capital markets bill The approval of a third withdrawal is almost assured, although it has generated much debate in recent months and the Government has threatened to appeal it in courts, under the premise that close...

March 26, 2021

News, Slider2021, Chile, COVID-19, Withdrawals

25MarMarch 25, 2021

Nigeria. Workers withdrew N1.01bn pension savings in Q4 2020 –PenCom

The Contributory Pension Scheme (CPS) witnessed the withdrawal of N1.01 billion by 924 workers from the voluntary contributions in their Retirement Savings Accounts (RSAs) with their Pension Fund Administrators (PFAs) in the fourth quarter of 2020. Read also Pensions savings can fund Africa eco-plans The National Pension Commission (PenCom), disclosed this in its 2020 fourth quarter report. Read also Chile begins debate on third pension withdrawal amid second wave of the pandemic According to the guidelines on voluntary contribution under the CPS, PenCom...

March 25, 2021

News, Slider2021, Nigeria, savings, Withdrawals

17FebFebruary 17, 2021

My word is my bond: Linking sovereign debt with national sustainability commitments

By Anderson Caputo Silva, Fiona Stewart The global COVID-19 pandemic has caused millions of deaths and the greatest global economic downturn in nearly a century. Public debt increased by $8.5 trillion in 2020, up to September, including by $1.4 trillion in emerging markets. At the same time, unprecedented levels of investment will be needed to fund COVID-19 stimulus and relief packages, as well as to address the challenges posed by climate change and the degradation of ecosystems that regulate the...

February 17, 2021

Articles, System Sustainability2021, Political economy, Public Pensions, Withdrawals

05FebFebruary 5, 2021

Peru court scraps law allowing withdrawals from state-run pension system

Peru's Constitutional Court on Thursday tossed out a law that would have allowed the partial withdraw of savings by citizens enrolled with state pension fund, a measure that had prompted fierce opposition from interim President Francisco Sagasti. The court said in a statement that it had voted unanimously to overturn the law, calling it "unconstitutional." The law passed by opposition members of Congress in December, intended as a lifeline for those in need amid the coronavirus crisis, would have...

February 5, 2021

News, Slider2021, COVID-19, Peru, Withdrawals

04FebFebruary 4, 2021

Chile patients find relief with withdrawal of pensions

Ximena Nancumil saves Jan. 21 as a special date on her calendar. That day, her father, who was ill with prostate cancer, had not wanted to drink or eat anything, but his face changed with the news that the Chilean Senate had approved the withdrawal of pension funds for terminal patients. “The day my dad found out he was very deteriorated, he didn’t even had any water, but when he heard the news it was like a balm for...

February 4, 2021

News, Slider2021, Chile, COVID-19, Withdrawals

29JanJanuary 29, 2021

Coronavirus throwing retirement systems into a deepening hole

By Douglas Appell, Paulina Pielichata Emerging markets policymakers' uphill battle to ensure a comfortable retirement for their fast-aging populations became considerably more daunting last year as the coronavirus ripped through the global economy. Read also Australia’s pension assets fall for first time since 2009- regulator Creative approaches to asset allocation and structural changes to keep retirement systems from morphing into rainy day funds are topics policymakers could find themselves grappling with as they look to move forward again after a year...

January 29, 2021

News, OP Ed, Slider2021, COVID-19, System sustainability, Withdrawals

04DecDecember 4, 2020

Chilean lawmakers approve second pensions withdrawal

Chilean lawmakers on Thursday gave final approval to a bill that allows citizens to make a second withdrawal from pension funds so they can cope with the economic havoc wreaked by the coronavirus pandemic. The bill, which passed its last legislative hurdle with a Senate vote late on Thursday, allows for another 10% withdrawal from Chile’s privately managed pension funds. The measure was introduced by conservative President Sebastian Pinera’s government two weeks ago to head off a more comprehensive...

December 4, 2020

News, Slider2020, Chile, COVID-19, Withdrawals

06OctOctober 6, 2020

Nigeria. Workers withdraw N2.56 billion in 25% early pension withdrawal

This is in line with the provisions of the Pension Reforms Act 2014, which allows pension fund contributors to withdraw 25% of their contributions if they lose their jobs and have not found any in 4 months. Read also Government unlikely to target South Africa’s retirement funds This was confirmed by the Pension Commission in its second quarter report published on its website. According to the data, about 4,688 Retirement Savings Account (RSA) holders were disengaged from work but unable...

October 6, 2020

News, Slider2020, COVID-19, Nigeria, Withdrawals

01OctOctober 1, 2020

UK. Warning sounded as 42% of pensions raided at ‘unsustainable’ levels

Savers have been warned they could face trouble in the future as the regulator found 42 per cent were taking more than 8 per cent from their pensions each year. Read also UK. PensionBee and Plaid team up to call for ‘open pensions’ Latest data on the retirement income market from the Financial Conduct Authority, published yesterday (September 29), found savers with smaller pension pots, typically worth between £10,000 and £100,000, were particularly susceptible to high withdrawal rates. Read also...

October 1, 2020

News, Slider2020, COVID-19, Sustainability, UK, Withdrawals

April 2021

March 2021

Chile begins debate on third pension withdrawal amid second wave of the pandemic

Nigeria. Workers withdrew N1.01bn pension savings in Q4 2020 –PenCom

February 2021

My word is my bond: Linking sovereign debt with national sustainability commitments

Peru court scraps law allowing withdrawals from state-run pension system

Chile patients find relief with withdrawal of pensions

January 2021

Coronavirus throwing retirement systems into a deepening hole

December 2020

Chilean lawmakers approve second pensions withdrawal

October 2020

Nigeria. Workers withdraw N2.56 billion in 25% early pension withdrawal

UK. Warning sounded as 42% of pensions raided at ‘unsustainable’ levels