Questions remain over pension changes as MPs back Koolmees plan
4 years, 8 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of concessions, including capping the retirement age at 67 in the short term and allowing people with physically demanding jobs to retire three years earlier. Transition MPs focused in Tuesday’s debate on the implementation of the plans and the transition from the new system to the old.

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History of this topic

MPs back formal review of NSC's pension referendum plan
2 months ago

MPs back formal review of NSC's pension referendum plan

Dutch News  

A majority of MPs have voted to ask the government’s highest-ranking advisory body, the Council of State, to assess plans to hold referenda on the new pension legislation. Two parties from the ruling right-wing coalition – the NSC and BBB – want to give workforces and pensioners the right to vote on whether their fund should move to the new …

Labour warning of ‘pension black hole’ after Rishi Sunak fails to rule out raising retirement age to 75
10 months, 3 weeks ago

Labour warning of ‘pension black hole’ after Rishi Sunak fails to rule out raising retirement age to 75

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Fears have been raised over how the Tories plan to fill …

Govt may amend pension scheme
1 year, 5 months ago

Govt may amend pension scheme

Live Mint  

New Delhi: The Union government is likely to amend the national pension scheme by the year-end to ensure employees get at least 40-45% of their last-drawn salary as retirement payout based on recommendations of a high-level panel currently looking into the matter, two people familiar with the developments said. The altered pension scheme will continue to be linked to market …

‘We strongly support’: Kejriwal on demands to bring back old pension scheme
1 year, 5 months ago

‘We strongly support’: Kejriwal on demands to bring back old pension scheme

Hindustan Times  

Delhi chief minister Arvind Kejriwal on Sunday expressed his support for the demands of central and state government employees to reinstate the old pension scheme, who have also staged a protest for the same. The Congress party also joined the chorus in support of the protest against the New Pension Scheme and the call to restore the old pension scheme. …

Restore Old Pension Scheme before 2024 election, employees urge Centre
1 year, 7 months ago

Restore Old Pension Scheme before 2024 election, employees urge Centre

The Hindu  

Thousands of employees of the Union government and Central public sector undertakings, including the defence establishments, marched to Ramlila Maidan here on Thursday demanding the restoration of the Old Pension Scheme. After the protest rally, organised by the Joint Forum for Restoration of Old Pension Scheme, a platform of about 60 unions, the employees sent a memorandum to Prime Minister …

Govt mulling over assured pensions at 40-45% as some states move back to OPS
1 year, 9 months ago

Govt mulling over assured pensions at 40-45% as some states move back to OPS

Live Mint  

Amid the politics of the Old Pension Scheme vs National Pension Scheme, the Government of India officials on Wednesday said that they are mulling over some changes in the new market-linked pension scheme which will ensure employees a minimum pension of 40%-45% of their last drawn salary, a report by Reuters said. The development comes as many Opposition-ruled states in …

Should States revert to the Old Pension Scheme?
1 year, 10 months ago

Should States revert to the Old Pension Scheme?

The Hindu  

The National Pension Scheme was launched in 2004. While the older pension scheme offered defined benefits to all government employees without any contribution on their part, the NPS requires employees to contribute a sum throughout their working years. Editorial | The old and the new: On the demand for the Old Pension Scheme The States trying to revert to the …

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride
1 year, 10 months ago

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride

The Independent  

The Work and Pensions Secretary said the state pension age is not likely to be raised to 68 until the 2040s — but it is not a decision to be made by the current UK Government. It will be for somebody else to sift through the data in the next Parliament Mel Stride, Work and Pensions Secretary Speaking at a …

Decision delayed on whether to change state pension age increase to 68
1 year, 11 months ago

Decision delayed on whether to change state pension age increase to 68

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Since the first state pension age review was undertaken …

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme
2 years ago

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme

Live Mint  

Former RBI Governor Raghuram Rajan has expressed his concern regarding the Old Pension Scheme. He said that restarting the old pension scheme would be an enormous obligation in the long run, adding, "less costly ways should be found to address the demands of government pensioners". The former RBI governor said the old pension scheme does involve massive future outlays because …

Reverting to Old Pension Scheme will privilege government servants at cost of larger public: Former RBI governor D. Subbarao
2 years ago

Reverting to Old Pension Scheme will privilege government servants at cost of larger public: Former RBI governor D. Subbarao

The Hindu  

The decision of some States to restart Old Pension Scheme will be decidedly a regressive move and will provide more privilege to government servants at the cost of larger public, majority of which has no social safety net, former RBI governor D. Subbarao has said. According to Mr. Subbarao, if State governments revert to a 'pay as you go' pension …

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre
2 years, 2 months ago

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre

The Hindu  

Published : Dec 29, 2022 10:15 IST In moves that are gathering momentum, a number of State governments are announcing or implementing decisions to reverse their shift to the new pension scheme designed largely by the Centre. Under the OPS, those who were members of the scheme, which consisted mainly of regular employees of the Central and State governments, made …

PvdA and GroenLinks clear the way to support pension reform
2 years, 3 months ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

PvdA and GroenLinks clear the way to support pension reform
2 years, 3 months ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

Pension systems should be fair and sustainable
2 years, 5 months ago

Pension systems should be fair and sustainable

Live Mint  

Elections in key states are round the corner and a pitch for switching back to India’s old system of state pensions is growing louder. Himachal Pradesh state Congress chief Pratibha Singh recently promised that the party will bring back a defined-benefits package within 10 days if voted to power, echoing a promise party leader Rahul Gandhi made in Gujarat, another …

Why Old Pension Scheme is bad politics, bad economics
2 years, 6 months ago

Why Old Pension Scheme is bad politics, bad economics

Hindustan Times  

More and more opposition parties in India seem to be warming to the idea of reverting to the Old Pension Scheme. The OPS offers guaranteed, inflation- and pay commission-indexed pension payments to retired government employees and their spouses without any contribution from the employees. The New Pension Scheme – it was first implemented by the Centre in 2004 and 27 …

Letting pensioners work more may help fill job vacancies, but there may be better alternatives
2 years, 8 months ago

Letting pensioners work more may help fill job vacancies, but there may be better alternatives

ABC  

There's almost never been a harder time to find good staff. "In terms of the absolute numbers, in people re-entering the workforce and being available to work, it's probably likely that that would bring in more people," she said. "Old-age-workforce participation has already increased sharply in recent years, but older people are less likely to work in Australia than in …

Questions remain over pension changes as MPs back Koolmees plan
4 years, 8 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of …

Pension plan clears final hurdle as FNV union members back reform
4 years, 8 months ago

Pension plan clears final hurdle as FNV union members back reform

Dutch News  

Members of the FNV union have cleared the way for the government to reform the pension system after voting in favour of the new deal. The changes will make pension payouts more dependent on stock market performance, which has led the Socialist Party to brand the new system a ‘gamblers’ pension’. ‘We have worked out plans that will ensure that …

Pension plan clears final hurdle as FNV union members back reform
4 years, 8 months ago

Pension plan clears final hurdle as FNV union members back reform

Dutch News  

Members of the FNV union have cleared the way for the government to reform the pension system after voting in favour of the new deal. The changes will make pension payouts more dependent on stock market performance, which has led the Socialist Party to brand the new system a ‘gamblers’ pension’. ‘We have worked out plans that will ensure that …

Restarted pension talks are 'constructive', minister says
5 years, 9 months ago

Restarted pension talks are 'constructive', minister says

Dutch News  

Monday night’s talks on reforming the Dutch pension system were ‘good’ and ‘constructive’ but no deal has yet been reached, social affairs minister Wouter Koolmees told reporters after the negotiations broke up in the early hours of Tuesday morning. Talks between ministers, unions and employers broke down last November after the unions pulled out over the government’s refusal to slow …

Restarted pension talks are 'constructive', minister says
5 years, 9 months ago

Restarted pension talks are 'constructive', minister says

Dutch News  

Monday night’s talks on reforming the Dutch pension system were ‘good’ and ‘constructive’ but no deal has yet been reached, social affairs minister Wouter Koolmees told reporters after the negotiations broke up in the early hours of Tuesday morning. Talks between ministers, unions and employers broke down last November after the unions pulled out over the government’s refusal to slow …

Pension reform talks may restart, minister stresses need for progress
5 years, 9 months ago

Pension reform talks may restart, minister stresses need for progress

Dutch News  

Social affairs minister Wouter Koolmees has told MPs that he wants to resume talks with unions and employers on reforming the Dutch pension system. The talks collapsed in November after the unions walked out, saying the cabinet was not prepared to do enough to meet their demands on the state pension age. He also said the cabinet ‘sees room to …

Pension reform talks may restart, minister stresses need for progress
5 years, 9 months ago

Pension reform talks may restart, minister stresses need for progress

Dutch News  

Social affairs minister Wouter Koolmees has told MPs that he wants to resume talks with unions and employers on reforming the Dutch pension system. The talks collapsed in November after the unions walked out, saying the cabinet was not prepared to do enough to meet their demands on the state pension age. He also said the cabinet ‘sees room to …

Government to review life expectancy in bid to end pensions deadlock
6 years, 4 months ago

Government to review life expectancy in bid to end pensions deadlock

Dutch News  

The government is to commission more research into the link between retirement age and life expectancy as it tries to break the deadlock in the long-running talks to reform the pension system. The current system, in which the age when workers are entitled to receive their pension will rise in step with life expectancy after 2021, was a bone of …

Government to review life expectancy in bid to end pensions deadlock
6 years, 4 months ago

Government to review life expectancy in bid to end pensions deadlock

Dutch News  

The government is to commission more research into the link between retirement age and life expectancy as it tries to break the deadlock in the long-running talks to reform the pension system. The current system, in which the age when workers are entitled to receive their pension will rise in step with life expectancy after 2021, was a bone of …

No result after marathon talks; pension negotiations to continue next week
6 years, 4 months ago

No result after marathon talks; pension negotiations to continue next week

Dutch News  

Marathon talks between unions and employers have failed to produce an agreement on changes to the current Dutch corporate pension system and will continue after the weekend. The change is necessary because the aging population is putting more pressure on the current pension system and pension funds are having to pay out to more people for longer. State pension age …

No result after marathon talks; pension negotiations to continue next week
6 years, 4 months ago

No result after marathon talks; pension negotiations to continue next week

Dutch News  

Marathon talks between unions and employers have failed to produce an agreement on changes to the current Dutch corporate pension system and will continue after the weekend. The change is necessary because the aging population is putting more pressure on the current pension system and pension funds are having to pay out to more people for longer. State pension age …

Why a gradual retirement may mean working into your 80s
8 years, 1 month ago

Why a gradual retirement may mean working into your 80s

Daily Mail  

Pension savers hoping to retire gradually may be forced to work into their late 70s and beyond to get the lifestyle enjoyed by previous generations, a report warns. Former pensions minister Sir Steve Webb said the idea of flexible retirement – switching to part-time employment before giving up work entirely – could be just a ‘mirage’ if savers add only …

State pension age review: Young adults will have to work until their mid-70s before qualifying, experts warn
8 years, 7 months ago

State pension age review: Young adults will have to work until their mid-70s before qualifying, experts warn

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Young adults will have to work until their mid-70s before …

Pressure mounts for major overhaul of Dutch pension system
8 years, 10 months ago

Pressure mounts for major overhaul of Dutch pension system

Dutch News  

Pressure is mounting in the Netherlands for a major overhaul of the current three-tier pension system, with a string of influential organisations and people calling for wholesale reform. The Dutch pension system is based on three parts: the state pension AOW, payable in full to everyone who has lived in the country for more than 50 years and at reduced …

Pressure mounts for major overhaul of Dutch pension system
8 years, 10 months ago

Pressure mounts for major overhaul of Dutch pension system

Dutch News  

Pressure is mounting in the Netherlands for a major overhaul of the current three-tier pension system, with a string of influential organisations and people calling for wholesale reform. The Dutch pension system is based on three parts: the state pension AOW, payable in full to everyone who has lived in the country for more than 50 years and at reduced …

State pension reforms: ​Millions stillclueless about entitlements
8 years, 11 months ago

State pension reforms: ​Millions stillclueless about entitlements

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Changes planned for pension system
9 years, 8 months ago

Changes planned for pension system

NL Times  

The Cabinet is planning some big changes in the pension system. They want to give people a better understanding of their own personal pension accrual and to get rid of the current averages system. This is according to the "Outlines of a future-proof pension system", that State Secretary Jetta Klijnsma of Social Affairs sent to the Tweede Kamer, lower house …

MPs near agreement on pension reforms
10 years, 5 months ago

MPs near agreement on pension reforms

NL Times  

The Cabinet, governing groups and the opposition parties D66, ChristenUnie and SGP have reached an agreement on tightening the pension rules, Z24 reports. An important part of the bill is that pension funds are required to hold higher financial buffers from next year. Research will also be done into the low interest rates that pension funds must use to determine …

Cross-party talks on pension reform to continue next week
11 years, 3 months ago

Cross-party talks on pension reform to continue next week

Dutch News  

Talks between the ruling coalition and three opposition parties on reforming the Dutch pension system will continue next week and are making ‘step-by-step’ progress, according to prime minister Mark Rutte. The ruling right-wing VVD and Labour party, together with the D66 Liberals and minor Christian parties, are trying to reach agreement on reforming the Dutch corporate pension system in order …

Cross-party talks on pension reform to continue next week
11 years, 3 months ago

Cross-party talks on pension reform to continue next week

Dutch News  

Talks between the ruling coalition and three opposition parties on reforming the Dutch pension system will continue next week and are making ‘step-by-step’ progress, according to prime minister Mark Rutte. The ruling right-wing VVD and Labour party, together with the D66 Liberals and minor Christian parties, are trying to reach agreement on reforming the Dutch corporate pension system in order …

Unions, employers to join pension reform talks after criticism
11 years, 9 months ago

Unions, employers to join pension reform talks after criticism

Dutch News  

Ministers have invited union and industry leaders to talk again about plans to reduce the amount of money people can save tax free for a corporate pension. Although the two coalition parties assured majority support for the changes during Monday’s parliamentary debate, ministers have admitted there is a lot of criticism of the proposals. The government wants to reduce the …

Unions, employers to join pension reform talks after criticism
11 years, 9 months ago

Unions, employers to join pension reform talks after criticism

Dutch News  

Ministers have invited union and industry leaders to talk again about plans to reduce the amount of money people can save tax free for a corporate pension. Although the two coalition parties assured majority support for the changes during Monday’s parliamentary debate, ministers have admitted there is a lot of criticism of the proposals. The government wants to reduce the …

Pension changes under fire
11 years, 9 months ago

Pension changes under fire

Dutch News  

The government’s plans to reduce the amount workers can save tax-free for their pensions are too expensive and raise too many questions, according to the government’s most senior advisory body. The Dutch pension association commissioned the research to try to assess what people consider the impact of the changes in corporate pensions will be. Earlier this month, the financial services …

Pension changes under fire
11 years, 9 months ago

Pension changes under fire

Dutch News  

The government’s plans to reduce the amount workers can save tax-free for their pensions are too expensive and raise too many questions, according to the government’s most senior advisory body. The Dutch pension association commissioned the research to try to assess what people consider the impact of the changes in corporate pensions will be. Earlier this month, the financial services …

Talks fail; employees’stir from January 8
12 years, 2 months ago

Talks fail; employees’stir from January 8

The Hindu  

Government employees led by Leftist organisations will go on an indefinite strike from January 8, in view of the failure of talks on contributory pension scheme with Chief Minister Oommen Chandy here on Tuesday. The Chief Minister told the representatives of the employees that the proposed pension scheme would not affect existing employees. The Leftist organisations wanted the government to …

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