Pension

The Africa Center for Retirement Research is calling for an upward adjustment in the minimum pensions payable to low-contributing pensioners.

The minimum pension has stood at GH¢200 for four successive years.” “The International Labour Organization (ILO) has emphasized the importance of maintaining minimum standards for social security administration. Mashud further opined that it is the hope of the Center that the Government will move in to increase the minimum pension payable for the 2023 year.

Last year an effort was made to rescue the underfunded plans. In January a Pension Benefits, Design and Funding Task Force, created by the legislature, ...

The information needed to change the pensions provisions is available to the legislature (google Vermont Pension Benefits, Design, and Funding Task Force). The pension plans cover about 42,000 participants (current and future retirees, figures taken from the Task Force report). Having a pension is a valuable benefit, one worth preserving. In its place a few tepid revisions to the plans were enacted, and the legislature approved an unprecedented amount of money, a half a billion dollars, $300 million from the General Fund plus an extra, one-time $200 million from budget surpluses and federal dollars, to fund the programs. In January a Pension Benefits, Design and Funding Task Force, created by the legislature, presented their best ideas for plan revisions. [Op/Ed](https://www.addisonindependent.com/category/op-eds/)

Last year saw unfunded liabilities for the nation's largest public retirement plans climb by roughly a half-trillion dollars.

The state of pensions reports from Equable seeks to analyze trends by looking at the investments, contributions, cash flows, and benefits for 228 of the largest statewide and municipal retirement systems in all 50 states. The year-end report also includes a ranking of the 2022 funded status of all 50 states plus Washington, D.C. The number of states meeting or exceeding contribution targets more than doubled between 2014 and 2020 from 17 to 38, marking an “important success story for taxpayers, public sector workers, and retirees.” “Slow and steady wins the race. “But poor investment returns in 2022 have driven down the average funded ratio for state and local plans.” The report noted that better than expected private equity gains gave plans a boost in 2022.

State and local pension funds had a $1.4 trillion funding deficit at the end of 2022, according to Equable Institute. Over the past year, assets fell by ...

State and local pension funds had a $1.4 trillion funding deficit at the end of 2022, according to Equable Institute. The funding gap, which was just under $1 trillion at the end of 2021, jumped to $1.4 trillion, in line with previous years. The funding ratio was 77.3%, down from 2021's 83.9%.

The funded status of the largest corporate defined-benefit pension plans in the U.S. ended 2022 at the same level as they began the year, as weak investment ...

- A recent analysis found that the closely-watched funding deficit is projected to be $62 billion at the end of 2022, down from $80 billion at the end of 2021. defined benefit pension plans that have a December fiscal year-end date. Even so, companies continue working to manage their existing pension liabilities, and escape them if they can. But they’ve fallen out of favor due to them being volatile for companies and financially impractical over the long term. “Sponsors will want to revisit how their strategy for managing pension risk needs to evolve,” said Joanie Roberts, senior director, retirement at WTW. ended 2022 at the same level as they began the year, as weak investment returns offset lower pension liabilities created by higher interest rates, according to WTW, a global advisory company.

France is set to strike over changes to its retirement age, while UK workers brace to hear news on the state pension age.

Auto-enrolment will have also have an impact in the coming decades, meaning workers should rely less on the state in the future. [the state pension age will be brought forward](https://www.morningstar.co.uk/uk/news/229428/state-pension-age-review-due-early-2023.aspx). Logically, the rising cost of living may force these missing employees back into the workforce – boosting their pension contributions and retirement prospects – but there’s scant evidence yet in the employment data. There are some competing trends in the UK population right now: ONS stats show a missing generation of workers between 50 and 70, many of whom are dealing with long-term health issues, whether physical or mental, including the effects of Covid. Alert readers will note that this is still lower than the UK’s retirement age, which will be 67 by that time, having added a year in 2028. All of the categories outlined by the association, covering a minimum, moderate and comfortable retirement, have increased by double digits: respectively these are £12,800 a year (18% higher), £23,300 (up 12%), and £37,300 a year (an 11% increase).

Corporate pension funds had a boring year — if the only measure you look at is funded status. After all, according to WTW data published recently, funded status ...

That allowed the fund to move away from equity derivative exposure ahead of 2022, when fixed-income returns finally started to rise again. For some corporate pension plans, the task in 2023 will be to reconsider asset allocation, rather than to offload risk entirely. Delta Air Lines’ $16 billion pension plan is considering some of these assets, according to CIO Jon Glidden. Total corporate pension plan assets declined by 26 percent to $1.22 trillion for the year. “It’s actually been a crazy year,” said Jason Wilhite, senior director of retirement at growth at WTW by phone. After all, according to WTW data published recently, funded status — the amount a pension has on hand to meet obligations — stayed flat year-over-year at 95 percent.

For more than a quarter of a century, there hasn't been a French president who didn't try to fix the country's gigantic state pension system, and Emmanuel ...

That’s a liability the government can ill-afford in a country that already has one of the highest public debt burdens in Europe. The problem is that French people spend less time working, and more time in retirement, than most of their European peers, leading to funding shortfalls that increase the public debt. And an aging population is making the problem worse.

The Macron-led government is making a new bid to push controversial pension reforms, calling to increase the retirement age from 62 to 64.

The president presents himself as a modern man, but his project takes us straight back to the nineteenth century!” The left-wing coalition Nouvelle Union Populaire Écologique et Sociale (NUPES) composed of the La France Insoumise (LFI), French Communist Party (PCF), and others also oppose the reforms and have extended support to the protests. It will aggravate the precariousness of those who are no longer employed before retirement, and strengthen gender inequality.” Earlier, the reforms announced by the first government under Emmanuel Macron, which contained similar proposals such as an increase in retirement age, replacing 42 pension systems with one scheme, introduction of a grade point system for ascertaining pension amounts, among other proposals, were vehemently On Wednesday, the New Ecological and Social Peoples’ Union (NUPES) slammed the reforms proposed by the government as an attack on the pension system and an attempt to impose a project that 85% of the people reject. Youth groups, including the Young Communist Movement of France (MJCF), have also called for protests against the reforms.

The French government's plans to reform the national pension system have been met by widespread protest. Elisabeth Borne, France's prime minister, ...

- January 6, 2023 January 6, 2023 Here are the five... Elisabeth Borne, France’s prime minister, unveiled plans to raise...

Ohio's attorney general has filed paperwork with OPERS to begin receiving his pension, commonly referred to as "double dipping."

It’s unclear what terms may have been negotiated in Yost’s case. “It’s just so frustrating and borderline enraging. Attorney General Dave Yost is drawing from his retirement account with the Ohio Public Employees Retirement System (OPERS) while being paid as an active employee on the state’s payroll.

The aggregate funded ratio for U.S. state pension plans increased quarterly for the first time since December 2021.

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Mexico's Terrafina, an industrial real estate investment trust (FIBRA), signed a joint venture with a pension fund for an initial commitment of $200 million ...

Through the agreement, Terrafina said it will expand in areas such as electric vehicles, e-commerce, electronics and healthcare. The joint venture could add between $450 million and $500 million in new investments, Terrafina said in a statement. MEXICO CITY, Jan 12 (Reuters) - Mexico's Terrafina, an industrial real estate investment trust (FIBRA), signed a joint venture with a pension fund for an initial commitment of $200 million, the fund said Thursday.

Falling prices and rising interest rates create retirement dilemma for millions.

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