Towerswatson did a great study of 401K plans and the overarching reason that plans are created according to employers is to prepare individuals for retirement. However, only 56% of companies have participation rates of 80% or higher. Should this be of worry? Definitely – as often this becomes the only income, aside from Social
The EBRI came out with a study showing “44 percent of Baby Boomers and Generation Xers are projected to lack adequate retirement income to cover basic expenses and uninsured health care costs, according to the latest estimates by EBRI. Press release.“I think I am going to officially proclaim this as my soapbox issue! The concern
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
If you have employees in the UK and had a default retirement age, please note that the UK is abolishing the default retirement age – which can quickly change situations into an age discrimination issue – which is not fun as the number tribunal claims has been skyrocketing already! But if you want more detail
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.