Tuesday, June 4, 2013

Retirement news around the world

From time to time I get behind in my reading about retirement issues from around the world and as I am recovering from Knee Replacement Surgery at this time I fell behind. So I thought I would share some of the news I have collected on this topic with you.

Time for Hong Kong to move on retirement plan
South China Morning Post
It involved more than 1,500 married or co-habiting women aged 15 to 49 and more than 1,000 partners. To put the results into a future context, Professor Paul Yip Siu-fat, chairman of the association's research sub-committee, said: "Sixty per cent of ...

FNC members to debate work after retirement
Abu Dhabi: The Federal National Council's (FNC) session on Tuesday will see two members urging the government on two main issues — encourage men to work after pension age and allow earlyretirement of Emirati women. Hamad Al Rahoumi, an FNC ...

Seize the day on the CPP
Toronto Star
Now we have Pooled Retirement Pension Plans (PRPPs) being touted by federal Finance Minister Jim Flaherty and special interest groups such as the Canadian Federation for Independent Business (CFIB). Setting up a PRPP is completely voluntary and a ...

Texas makes teachers' pensions less reliant on markets
Those three sources are expected to add some $600 million to the pension fund over the first two years, according to state documents. The last time the state passed a cost-of-living increase forretired teachers was in 2001. Under the plan passed ...

Understanding pension plans
Jamaica Gleaner
In Jamaica, pension plans and retirement schemes are usually tax exempt once they are approved under the Income Tax and Pensions acts. The main benefit provided by a pension plan orretirement scheme is a pension income to the member and his or her ...

Corrupt civil servants may be stripped of pensions: minister
China Post
The ministry stated that nearly NT$1.3 billion in pension funds was handed out to 127 retired civil servants over the past 13 years after they were charged with corruption. Chang said that after amendments are made to the Civil Servant Retirement Act ...

Crisis in Greece Caused the Retirement of 40000 Officials
Prensa Latina
More than 40,000 officials retired since the beginning of the crisis, which has caused an increase of the expenses of retirement pensions, according to statistics given today to the Parliament by the Finance vice Minister, Jristos Staikuras. Greece ...

CalPERS' Dear, CalSTRS' Sheehan wed, form a pension power couple
Pensions & Investments
In fact, many in the Sacramento-based $265.5 billion California Public Employees' RetirementSystem and West-Sacramento-based $163.7 billion California State Teachers' Retirement System organizations don't even know the couple recently tied the knot.

Start Saving For Retirement When You're Young
CBS Local
BOSTON (CBS) – The reality is that you are responsible for your own retirement savings. Fewer employers are offering pensions to employees. Waiting to start to save until you are 40 is a big financial mistake. The key years for saving have passed you by.

Santa Clara County's different pension path
San Jose Mercury News
The state's retirement system is raising annual rates on its plans 50 percent in 2016 to deal withpension debt, which it now reports has grown to more than $1.5 billion for the county. Gary Graves, the county's chief operating officer, said what ...

Pensions, benefits under heavy fire
As a result, employers are facing a talent gap, escalating health care costs, retirement risk and waning employee engagement, said Ted Singeris, president of human resources firm Mercer Canada. "Thirty per cent of Canadian businesses say they face a ...
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Mandatory Pension Savings: Should Employers And Employees Be Forced To ...
The fact remains that those currently approaching state pension age could experience a significant fall in their standard of living during the final seven years of retirement, while also finding themselves in a position where they may be unable to ...
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A 'third way' between annuities and drawdown
Retirement brings a horrible dilemma for many people: do they settle for the dismal annuity rates currently on offer, or risk running out of money in the future if they choose an income drawdown plan? A third option could offer the best of both worlds ...

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