An economic road map unveiled by the Turkish government last week includes several measures related to the insurance and pension sectors. The Eleventh Development Plan was submitted to the Turkish Parliament on 8 July after it had been approved by President Recep Tayyip Erdogan. The plan covers the years between 2019 and 2023, and serves as a guide to improving the Turkey's economy.
China will fully guarantee the timely payment of future pensions and sustainable healthy operation of the basic pension system, a government official has said. This is the second time since last April that the government has given the reassurance.
Given that life expectancy for both males and females in India is likely to continue rising, increasing the retirement age for both men and women going forward could be considered, according to the government's Economic Survey report released in conjunction with the Budget last week.
A significant change to the superannuation system will be enforced with effect from today that could leave some Australians without life insurance if they were unaware that their superannuation fund had default life insurance included in it.
As the traditional career model continues to evolve with the advent of the gig economy and new technologies, the risk of working people falling into a 'protection gap' increases - revealed a major new study entitled 'Perceptions on protection: Surveying workers to build new agile solutions' by Zurich Insurance and the Smith School of Enterprise and the Environment at the University of Oxford.
Transfers of state-owned enterprises' (SOE) equity to bolster China's basic pension fund have been a trickle rather than a steady flow, according to the National Audit Office.
The Pension Fund Regulatory and Development Authority (PFRDA) has submitted a proposal to enhance the government backed pension scheme, Atal Pension Yojana (APY), so that it would appeal to a wider subscriber base.
The Australian government has prioritised its response to two separate reviews of the superannuation system by focusing on recommendations from the two exercises that overlap, said Ms Jane Hume, who became Assistant Minister for Superannuation, Financial Services and Financial Technology in May.
Wealth disparity and the intergenerational savings gap mean that a model used in a study by the Financial Services Agency (FSA), to estimate how much savings are needed by an average couple to make up for expected shortfalls in the public pension system, does not tell much about the different realities most people face.
The Turkish authorities have gazetted a set of regulations governing individual pension intermediaries, setting out required qualifications, working principles and licensing.