Final salary pensions in the private sector have closed their doors to new staff at the fastest rate on record, with just 13% of final salary pensions were open to new joiners in 2012. According to a study by the National Association of Pension Funds (NAPF) out today, that represents a drop of a third from
AonHewitt just published a great article on the changing landscape of pension reform occurring. If this is something that is new to you, the quick gist is that the labor rates have been extremely low in APAC – and as a result – now individuals don’t have enough to live one throughout their life. Additionally,
Towers does a great recap of a recent EU white paper which is encouraging member states to focus on their pension plans. Like the US, they have an aging population, with lower number entering the workforce. The link is below. Original Page: http://feedproxy.google.com/~r/towerswatson/research/~3/dV67TMe5kRg/6918
In my new job, I get to travel around the SouthEast US and have a lot of great conversations with HR professionals. Today was one such day, and this unnamed HR professional shared a very interesting perspective – that he thinks Pension Plans are going to come back into “fashion” in 5 years. That shocked me, so
A quick article about France’s new pension tax – however this is only applicable to employers if you are grossing up your pension plans. (Source: Towers Watson)
Towers has released a free study on the global pension markets. This year’s highlights include: · Global institutional pension fund assets in the 13 major markets increased by 12% during 2010 to reach a new high of US$ 26 trillion. The growth is the continuation of a trend which started in 2009 when
In on of my earlier blogs, the topic was how China is having to work on dealing with the ageing population. Now Shanghai adopts deferred retirement policy for certain employees – International Law Office. Obviously from a HR perspective, this is good news in terms of talent retention.
China has a fairly “new” pension system that covers about 30% of the population, and has a fairly unique requirement that the individuals contribute for 15 years before becoming eligible. However, given the existing retirement age is 60 for males, 55 for female government officials, and 50 for other female workers – the system is