Africa Pension Supervisors Association的动态

According to the most recent data from the National Pension Commission (PenCom), the total assets under management (AUM) of the regulated pension industry decreased mildly by -NGN90.3bn to NGN19.7trn in Mar '24. The reduction in March marks an end to the consecutive monthly growth in pension assets that started in Oct '22. In standardised terms, the overall pension assets only make up about 8.6% of Nigeria's 2023 GDP, reflecting the underpenetrated level of the pension industry. For context, Nigeria's pension assets to GDP ratio compares unfavourably with the global average, which stands at 29.4% (in 2020) based on World Bank data. #FBNQuestResearch

Recommendations for Reform of Pension System in Iraq By John Lee. The International Monetary Fund (IMF), International Labour Organization (ILO), and World Bank have issued a detailed report on the reform of Iraq's pension system. The report, titled "Towards an Inclusive, Equitable and Sustainable National Pension System in Iraq", highlighted the following key points: Importance of Pension Systems: Central to social protection. Ensures income security for older persons and vulnerable groups. Prevents poverty and reduces inequality. Facilitates consumption smoothing. Influences labor market choices and has fiscal implications. Current State of Iraq's Pension System: Highly fragmented, inequitable, and inefficient. Inadequate income protection for the elderly and other vulnerable groups (e.g., survivors, persons with disabilities). Public sector pension strains the budget and is potentially unsustainable. Creates an uneven playing field between public and private sectors. Hinders economic diversification and private sector growth due to an oversized civil service. Need for Comprehensive Pension Reform: Urgently required to address current system's shortcomings. Goals... https://lnkd.in/dkzebwsi

Recommendations for Reform of Pension System in Iraq By John Lee. The International Monetary Fund (IMF), International Labour Organization (ILO), and World Bank have issued a detailed report on the reform of Iraq's pension system. The report, titled "Towards an Inclusive, Equitable and Sustainable National Pension System in Iraq", highlighted the following key points: Importance of Pension Systems: Central to social protection. Ensures income security for older persons and vulnerable groups. Prevents poverty and reduces inequality. Facilitates consumption smoothing. Influences labor market choices and has fiscal implications. Current State of Iraq's Pension System: Highly fragmented, inequitable, and inefficient. Inadequate income protection for the elderly and other vulnerable groups (e.g., survivors, persons with disabilities). Public sector pension strains the budget and is potentially unsustainable. Creates an uneven playing field between public and private sectors. Hinders economic diversification and private sector growth due to an oversized civil service. Need for Comprehensive Pension Reform: Urgently required to address current system's shortcomings. Goals of... https://lnkd.in/dvwj3tHE

The National Pension Commission (PenCom) reported that total pension fund assets reached N21.92 trillion in October, reflecting an increase of N1.13 trillion from the N20.79 trillion recorded in July. Omolola Oloworaran, the acting director-general of PenCom, disclosed this during a media conference in Abuja on Thursday. Read More: https://lnkd.in/eaaBu4hc #nigeriannewsdirect #newsdirect #PenCom #OmololaOloworaran

The Urgent Need for Broader Investment Strategies in Zimbabwe’s Pension and Social Security Funds In Zimbabwe, retirees who have worked and saved for decades are facing significant hardships as their pensions struggle to keep pace with inflation. With the value of pensions rapidly eroding, many are left without adequate funds to meet basic living expenses, let alone enjoy a comfortable retirement. A shift in strategy could make a profound difference. It’s time for Zimbabwe’s social security systems to rethink and modernize their approach to protect those who have contributed to the country's workforce and economy. Let’s prioritize sustainable solutions that honor the financial security of our pensioners.

This insight examines Pakistan's growing pension bill and its impact. The country grapples with a non-contributory, defined benefit system, burdening its finances heavily. The analysis advocates the transition to a defined-contributory pension scheme, highlighting its potential to reduce government expenditure, broaden pension access, and stimulate the financial market. The focus is on transforming the pension challenge into a viable opportunity for long-term fiscal health and economic stability. Read at: https://lnkd.in/ed4_mpyu

The most recent update from the National Pension Commission (PenCom) shows that Nigeria's pension assets resumed its upward trajectory after a brief moderation in April. Based on the commission's latest report, total assets under management (AUM) of the regulated pension industry increased by NGN440bn m/m or (+2% m/m) to NGN20.2trn as at end-May '24. On a y/y basis, pension's AUM growth was more pronounced, rising by +26% y/y, slightly outpacing the growth rate of 25% registered in the previous month. #FBNQuestResearch

The pension debate focuses on fiscal sustainability rather than caring for our elders, which misses the heart of the issue. The Asian Development Bank (ADB) has emphasized the need for pension system reforms in Pakistan to help the elderly. ADB's Senior Economist Aiko Kikkawa and Chief Economist Albert Park?suggest integrating private sector contributions and learning from countries like India to leverage technological innovations. Read more about the proposed reforms and their implications in my latest article on Dawn: https://lnkd.in/eVwqDzmn #PensionReform #Sustainability #ADB #PakistanEconomy

As recruiters, we see firsthand how the challenges in Nigeria’s pension industry affect talent and employers alike. Some of these challenges include: 1. Low Awareness: Many candidates lack understanding of pension benefits, especially those from the informal sector. 2. Non-Compliance: Companies failing to remit pension contributions hurt trust and make roles less attractive to top talent. 3. Inflation Risks: Professionals question if pension savings can hold their value long-term, leading to skepticism. 4. Talent Attraction: Employers without competitive pension plans struggle to attract and retain experienced professionals. A strong pension system is not just a financial safety net—it’s a key factor in creating a secure and motivated workforce. How can we, as recruiters, better align talent with organizations that prioritize retirement security? #Recruitment #Pensions #NigeriaJobs #TalentManagement

AN EXAMINATION OF THE LEGAL FRAMEWORK FOR MICRO PENSION PLAN IN NIGERIA The Micro Pension Plan, introduced under the Pension Reform Act 2014, extends pension coverage to self-employed individuals and workers in organizations with a minimum of three employees. This inclusive approach aims to provide financial security and retirement benefits to a significant portion of Nigeria's informal sector, ensuring that no one is left behind. As Nigeria progresses towards inclusive economic growth, initiatives like the Micro Pension Plan play a pivotal role in ensuring the well-being of its diverse workforce. The Micro Pension Plan aligns with the nation's commitment to empowering individuals with robust legal frameworks that safeguard their future. #MicroPensionPlan #Nigeria #PensionReform #FinancialInclusion #Starklegal #LegalInsights