Asia Pacific

Reports | Articles

Reports

India: Understanding Poverty Among the Elderly in India: Implications for Social Pension Policy (April, 2008)
The authors argue that the circumstances of poor elderly in India demands a careful look. First, households with elder relatives do not have higher poverty rates than non-elderly households. However, the poor elders have high mortality rates. This has implications for the Government of India’s new policy to increase social pension funding to the poor older people. It suggests that programs reducing elderly mortality may increase the relative poverty levels of the elderly.

Report: China: Pension Reform in China: Progress and Prospects (2007)
China is developing the largest pension system in the world. The goal is to build a system which adapts to a rapidly aging population in a predominantly underdeveloped, but growing, economy. This paper delivers a description of the historical development of national old age insurance system in China. Subsequently, it provides a detailed examination of the pension arrangements implemented by the end of 2006. It finds that despite progress, the coverage of the system among urban employees remains low while the rural population is outside the national pension system. Finally, the paper reveals the importance of extending insurance coverage by encouraging financial commitments to the National Social Security Fund by 2015 to manage the side effects of the rapidly aging population. The reader should bear in mind that the estimates in the paper might not fully correspond to other Chinese sources

Articles

New Zealand: Labour Force Growth Set to Slow as Boomers Age (May 7, 2008)
According to recent projections by Statistics New Zealand, and for the first time in history, the labor force in New Zealand will decrease by 2011. Fifteen thousand fewer people are expected if both the birth and immigration rates keep decreasing. The birth rate will decrease to reach 1.9 children per woman by 2020, from about 2.1 today. In 2006, the median age for workers was 40; by 2011 it will be 42. This decrease raises questions about pensions: Who will pay for them and how can intergenerational solidarity be maintained?

China: Pension Fund to Double to 1 Trillion Yuan (April 15, 2008)
The National Social Security Fund (NSSF) is the national pension fund in China created in 2000. The government funds NSSF through state-owned shares. Economists expect this fund to double its income by 2010. Authorities plan to invest in various sectors, such as finance, energy and transportation.

India: Tips to Plan Early Retirement (April 15, 2008)
In this article, Amar Pandit gives tips to Indian workers who want to retire early. He explains how important it is to invest your money without taking too many risks and emphasizes the need to have a roof over your head before you retire. Also, a major priority is to save money for the younger generations, even in the case of an early retirement. 

India: Pension Push to Widen Reach (April 14, 2008)
Many people accuse the Indian government of delaying the adoption of a good and affordable pension plan. Indeed, parliament just adopted a law that will extend the pension scheme for only 37 Indian people. There is increasing demand for a national pension plan. Representatives seem now to be considering private pension funds that workers would fund with their own salaries. 

Japan: The Archipelago of Lost Pensions (March 28, 2008)
(Article in French)
The Japanese administration must face a major issue: find the owners of massive amounts of pension funds. From 1961 to 1997, workers got a notebook where the administration recorded their pension contributions. If they changed jobs, they got new notebooks, with new accounts. But in 1997, authorities wanted to merge all the accounts, a mistake that brought about a huge loss of data. Besides this problem, orthographic issues linked to the system computerization in the 80’s added to the mess. This loss of data has thrown the Japanese into panic. They wonder if the government has lost their pensions.

India: Now, Work Just 20 Years for Full Pension (March 25, 2008)
The Indian Government has proposed to raise the pension benefit for government workers. If the proposition is accepted, civil servants will have to work only 20 years, instead of the current 33 years to get a full pension. It is a very expensive measure that will lean on the taxpayers and will cost the government an additional Rs 1,365 crore per annum. Does the government want shorter careers for civil servants in order to open jobs to younger persons sooner?

Pakistan: OPF Reactivates Pension Scheme for Overseas Pakistanis (March 16, 2008)
In 2001, the Overseas Pakistanis Foundation (OPF) launched a pension plan for Pakistani citizens abroad. This measure was supposed to bring financial protection and rights for many Pakistani people who often send home resources for the development of their country but don’t have social security. The plan began in February 2008. Now, Pakistani's abroad can contribute to a social insurance plan. 

China: China’s New Empty Nest (March 10, 2008)
Economic development and social changes are threatening China’s multi-generation family pattern. There are discussions about phasing out the policy of allowing only one child per family. Many lonely elderly people are finding ways to have someone to talk to or take care of them. Despite several policies to build an elderly care and pension system as well as to educate young people about caring for and respecting seniors, the government recognizes that its efforts cannot sufficiently support its aging population. 

China: JiangSu Province: DongHai District Brought New Initiatives to Rural Pension (February 26, 2008)
(Article in Chinese)
DongHai District in JiangSu province has 960,000 rural residents, of which only 480,000 participate in the rural pension scheme. Nevertheless, its pension premium payment has far exceeded the assigned amount. The participation rate here is tops among in the northern region of the province, and the government describes it as a “miracle.” This is due to several initiatives such as the “811 policy”, the “433 policy,” the 10-year guarantee policy, etc.

China: Research Paper Points Out Shortcomings in China’s Pension System (February 17, 2008)
(Article in Chinese)
After January 1, 2008, Beijing raised the average monthly pension payments per person from 1380 RMB to 1580 RMB. This is the highest increase since the establishment of the pension system began. However, a recently published paper from the University of Leicester pointed out two main shortcomings of the system: the gap between supply and demand, and a weakness in the management plan. The paper used UK policies as its system model. 

China: New Application Procedures for Welfare Pension Payment (February 15, 2008)
(Article in Chinese)
The Beijing Municipal Labor and Social Security Department has announced a “Procedure for Pension Payment in Beijing Town/Village.” According to the new procedure, non-social security holders must apply for payment at local social security offices. Applications must pass eligibility verification at a higher-level office before any approvals are made. Processing time may take up to 20 days; after that, payments will be issued through bank accounts. 

China: Beijing: 730,500 Elderly Residents To Receive Pension beginning May 2008 (January 30, 2008)
(Article in Chinese)
According to the Beijing Labor and Social Security Department, the city will implement new pension and rural insurance policies beginning in May 2008. Under the new policies, 700,000 elderly will receive pension payments and 30,500 others will get rural insurance. After completing this step, Beijing will become the first city in China to achieve full pension and insurance coverage. 

China: Details About Beijing Pension and Insurance Schemes Implementation (January 29, 2008)
(Article in Chinese)
Beijing has organized an insurance and rural pension mobilization convention to introduce details of elderly insurance and rural pension plans. Under the two schemes, non-insured registered seniors over 60 years old will receive 200 Yuan per person monthly. The schemes also specify 5 types of seniors who do not qualify for the welfare pension grant. Those who are eligible have to apply for payment and will be paid through bank accounts. 

China: Henan: Retirement Pension to Increase by 105 Yuan/Person/Month (January 25, 2008)
(Article in Chinese)
As of 2008, Henan province started pension adjustments for retirees from more than 190 enterprises. According to this plan, monthly pension payments will increase by 105 Yuan per person. Since 2005, the average pension has been raised by approximately 290 Yuan, reaching a total of 1,025 Yuan. The Henan Labor and Social Security Office confirmed that after three years pensions will reach 1,200 Yuan. 

Japan: Half of Japan's Elderly Poor Won't Get Pensions, Nikkei Says (January 22, 2008)
As the total social welfare spending reaches 2.6 trillion Yen this year, Japan has realized its huge financial obligation for elder care. The number of older people relying on welfare has doubled in the last seven years. While the country tries to help its aging population, more than half of the 556,000 over-65 seniors will not have pension payments since they did not pay premiums for the required 25 years. 

China: Number of Pensioners and Insurance-holders Exceed 200 Million (January 22, 2008)
(Article in Chinese)
According to the Chinese Ministry of Labor and Social Security, by the end of 2007, China had more than 200 million pensioners and over 220 million social insurance holders. Also, China basically completed its three-year pension adjustment objectives. Average pensions increased, reaching monthly payments of 963 Yuan per person.

China: Ministry of Labor and Social Security: Pension and Insurance Scheme To Be Reformed (January 21, 2008)
(Article in Chinese)
On January 21, the Chinese Ministry of Labor and Social Security conducted a press conference to discuss the achievements in 2007 and to introduce the plan for 2008. In 2008, the Ministry will focus on several items, namely pension scheme reform, rural pension policy, improvement of insurance coverage and health insurance for retirees and the poor. During the conference, the Ministry’s spokespersons also answered several questions on various topics. 

China: China Earmarks $2 Bln for Raising Retirement Pension This Year (January 16, 2008)
In contrast to the information contained in 'Lives of Poverty, Untouched by China’s Boom', the Chinese Ministry of Finance announced January 15, 2007 that the government had raised money (14.92) billion Yuan for the nation’s rural areas, to enable the retirees to have a pension. This news may be good for poor older persons in rural areas. Let’s just hope that the older people will receive this needed pension.

South Korea: Social Consensus Crucial for Pension Reform (January 9, 2008)
The South Korean government is about to reform its pension system. A new task force designated by the presidential transition team is currently preparing the legislation. It seems that they plan will combine the National Pension and the Basic Elderly Pension. However, according to the authors, this is a very delicate matter. They urge the Korean government to consult widely in the society about how to create and fund a pension that will serve older Koreans well, both now and in the future.

China: Beijing Pension to Increase by 200 Yuan/Person – The Largest Increase Ever (January 8, 2008)
(Article in Chinese)
This year, Beijing city will introduce comprehensive pension adjustments. According to the plan, pensions for 1.67 million retirees will increase by 200 Yuan per person. Those who have lower pensions compared to the average level will receive 20 to 35 Yuan more per month. Senior technical staff, over-65 elderly persons and those who took part in the Revolution will also enjoy preferable policies. This is the largest increase since the initiation of the pension system. 

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Europe and Central Asia

Reports | Articles

Reports

Report: United Kingdom:  Life Expectancy Gap at State Pension Age Set to Narrow (January 2008)
This report focuses on life expectancy at the State Pension Age, showing that life expectancy between men and women is narrowing and may stabilize between 2021 and 2051. The study takes into consideration that the State Pension Age may go up to 68 years old by 2046. It also explains that life expectancy depends on individuals’ social backgrounds as men and women in the so-called ‘professional’ class live longer. Workers in other job categories face greater health risks and less income and die earlier. 

Articles

Netherlands: More Willing to Work up to Pension Age (May 6, 2008)
The Netherlands Social Affairs Minister claimed in a new study that workers in his country understood they had to work longer. Indeed, the study showed that in 2005, only one out of five people was ready to work until age 65. It is one out of three today. Forty-four percent of people who are under 20 years of age said they want to work until 65. In the Netherlands, as in most European countries, the government is offering financial compensation as incentives for workers to continue to work and contribute to the pension fund. 

France: Nicolas Sarkozy Announced a Raise of 0.8% Pension Rate (May 6, 2008)
(Article in French)
Nicolas Sarkozy said he was aware of the consumer price increases and the drop in French retired persons’ purchasing power. That is why he announced a general increase in pension rates for September 1. He added that this is a ‘social justice’ issue. Consumer prices in France rose by 3.2% during the last twelve months. 

France: Francois Fillon and Xavier Bertrand are Inflexible About the Pension Issue (May 5, 2008)
(Article in French)
François Fillon, French prime minister, announced May 5 that the government is going to make French people work and contribute to the pension funds longer, according to a plan of action decided in 2003. Xavier Bertrand, the labor minister, declared that it was “the only solution.” Trade unions blame the government for doing a last-minute fix. 

Russia: No Pension Reform (April 28, 2008)
(Article in Russian)
“We cannot launch another reform like in 2002, but we should essentially correct our pension system,” said Finance Minister Alexey Kudrin. So, the promised government changes will not be radical but rather involve minor corrections to the existing system. The main goal of the changes is “to ensure pension growth and better quality of pension service to citizens,“ assured Kudrin. 

Russia: Ministry of Health and Social Development Plans to Eliminate Poverty among Pensioners (April 25, 2008)
(Article in Russian)
The Ministry of Health and Social Development plans to increase pensions and eliminate poverty among pensioners. Starting October 1, 2008, citizens will be able to start depositing their volunteer pension savings to the Pension Fund. This and other government planned measures will hopefully allow a gradual pension increase over the next few years.

Russia: The Biggest Pensioners' Revolt in Chelyabinsk (April 24, 2008)
(Article in Russian)
Hundreds of pensioners took to the streets of Chelyabinsk to protest against “monetization” of their entitlements – the law replacing their in-kind benefits with cash payments. Observers called it one of the largest social protests in the region with 1,200 pensioners blocking city traffic and the entrance to the regional Senate. 

Russia: Russian Pensioners Protest against Low Pensions (April 23, 2008)
(Article in Russian)
Hundreds of pensioners are marching through Russian cities protesting against their low pensions. The majority of Russian pensioners continue to live below the poverty line. Protesting pensioners are demanding that the government improve their miserable living standards. This countrywide protest is the first of three planned by the Independent Unions' Federation for this spring. 

France: Pensions: The Unemployment Fund Can Mend the Hole (April 22, 2008)
(Article in French)
The UNEDIC (the National Inter-Professional Union for industrial and trade workers) holds the French Government’s insurance fund account for unemployed workers. In 2007 the account had a surplus, amounting to about 3.5 billions euros. The Government wants to use the funds to pay off the deficit in social security accounts. However, the French trade unions would prefer that the government redistribute the benefits to protect jobless persons and other vulnerable workers better.

Greece: ‘Special Regimes’ Have Been Removed (April 16, 2008)
(Article in French)
Despite three general strikes that paralyzed the country affecting millions of people, the Greek Parliament voted in favor of a law that will remove pension ‘special regimes’ and make the period for worker contributions longer. We are reminded that Greece is one European country where the percentage of the aging population is among the highest.

Germany: Employers Protest Increases in the German Pension (April 8,2008)
Germany's cabinet supported a plan to raise state pensions by 1.1% this year and by as much as 2% in 2009. Employers reacted in anger, saying the decision will cost jobs. The pension rise translates to 2.5 billion more euros by 2011. Some say that the federal budget cannot handle the increase. Germany has one of the lowest birth rates in the world. The population will fall from currently 82.5 million to 69 million by 2050. 

Czech Republic: Pension Fund Yields in 2007 Lowest in Memory (April 4, 2008)
In 2007, the Czech Republic recorded the lowest yield in its pension fund in history. The international financial crisis, as well as the poor results of the Czech economy, makes economists contemplate a yield of around zero at the end of 2008. Still, experts are advising workers to invest their pension money into these long-term funds. The law forbids pension funds from posting losses, requiring parent banks to cover them. 

Latvia: Pension Increase in April (April 4, 2008)
(Article in Russian)
Some 490,000 retired Latvians will get a pension increase in April this year. “Latvian pensioners deserve decent treatment as they age so our main goal is to gradually raise retirees’ level of living,” says the Minister of Welfare Iveta Purne. 

Russia: Monetization of Transport Benefits Negatively Effects Pensioners in Chelyabinsk (April 4, 2008)
(Article in Russian)
The government of Chelyabinsk region plans to replace pensioners' in-kind transportation benefits with cash payments. However, the change may negatively affect pensioners in the region who are frequent users of public transportation. During the summer, seniors regularly ride trains and buses to get to their garden plots located outside of the cities. 

Ireland: Irish Pensions Lose €10bn in Value (April 3, 2008)
The Irish Pension Fund Market dropped dramatically by 3.6% according to the agency Hewitt Associates. It is a total drop of 11.4% for the first quarter of 2008. The month of March was bad for the economy in general, with the rise in oil and the recession in the US housing market. 

Bosnia: Bosnia ‘Greedy’ Pension Plan Slammed (April 2, 2008) 
A number of NGO’s are accusing Bosnian government representatives of being ‘greedy.’ On March 27, deputies of the Parliament signed a proposal raising pensions and lowering retirement ages for the legislators. It happened at the same time as studies from the Center Civil Initiatives showed that few of Bosnia’s state and government institutions have fulfilled their action plans for 2007.

Russia: Ministry of Health and Social Development Plans to Eliminate Poverty among Pensioners (April, 2008)
(Article in Russian)
The Ministry of Health and Social Development plans to increase pensions and eliminate poverty among pensioners. Starting October 1, 2008, citizens will be able to start depositing their volunteer pension savings to the Pension Fund. This and other government planned measures will hopefully allow a gradual pension increase over the next few years. 

Romania: Romania May Speed up Pension Hikes (March 31, 2008)
The Romanian administration is considering raising or even doubling state pensions until 2009. Economists are afraid of the economic consequences. Such a measure would trigger a huge increase in internal demand too quickly, bringing on inflation. Many accuse the government of “crowd pleasing.”

United Kingdom: Are Older People Risking Their Futures? (March 28, 2008)
Help the Aged reveals the facts about how elderly fall into the trap of getting easy credit and don't have enough money to pay it back. This trend may represent a debt crisis for persons entering retirement age. As a result, Help the Aged has called for the government to track pension poverty. 

France: Pensions: Trade Unions and the Government are Negotiating (March 26, 2008)
(Article in French)
The second negotiation period between the French trade unions and the government is about to begin. Raising the retirement age seems problematic. Pensioners would have to work 41 years instead of the 40 years required today. Unions have denounced this measure as ‘unfair,’ especially for workers who have harsh working conditions. They have already called for a strike to protest such a measure.

Russia: Pensions to be Delivered to Seniors' Homes in Chechnya (March 20, 2008)
(Article in Russian)
Chechen Republic's government created a service to deliver pensions to pensioners' homes. Previously, the government received a large number of complaints from seniors about poor service at the pension centers. The new delivery service is successfully functioning in 16 regions in Chechnya. 

Russia: Russian Pension Fund Accused of Embezzlement (March 20, 2008)
(Article in Russian)
Managers of Russia's pension fund are involved in a corruption scandal. The fund's former top-managers are accused of embezzling 43.5 million rubles from the pension budgets. The managers drew down extra – budgetary funds aimed for social development and construction to buy elite real estate in Moscow. 

Russia: Moscow Region Increases Pensions up to Minimum Wage Level (March 20, 2008)
(Article in Russian)
The Moscow Region government increased pensions up to 3,254 rubles per month, reaching the region's minimum wage level. Some 500,000 senior citizens will receive a bonus starting March 1, 2008. It is estimated that more than 4 billion rubles will be invested for this important increase in benefits. 

Russia: Life Expectancy Increases in Stavropol Region (March 18, 2008)
(Article in Russian). 
Life expectancy continues to increase in Stavropol region, Russia. More than 4,500 invalids and senior citizens live up to 72 years of age while the average life expectancy in Russia has dropped to the low of 65 years. Why is Stavropol better off? The Stavropol government has increased funding for senior citizens and provides additional medical services for them. Congratulations, Savropol!

Russia: Electronic Document Control System for Pension Payments (March 15, 2008)
(Article in Russian)
An electronic system for pension payments proved to be successful during the testing process. It will now be gradually implemented in the Samar region of Russia. A new system will provide pensioners with all data regarding their pension payments and other transactions.

Germany: Berlin to Raise State Pensions (March 15, 2008)
The German government plans to raise pension payments by 1.1% in July for 20 million pensioners. It will help older persons who have been endangered by price increases and inflation since the beginning of the year. Reserves accumulated in state pension funds will finance these increases. The government said the consequences on the budget will be small. 

Russia: Pension Fund Invests 19 million Rubles for Pensioners (March 13, 2008)
(Article in Russian)
An additional 19 million rubles will be invested for war veterans and low-income pensioners living in the Sverdlovsk region. The investment will help pay for seniors' basic necessities, including medicine and food. The money will also help the elderly to improve their general health and receive dental care. 

Russia: President Putin Calls for Pension System Reforms (March 11, 2008)
(Article in Russian)
President Vladimir Putin has called for urgent pension system reforms. The President suggested the introduction of subsidies to complement pension savings and adoption of the law on co-financing voluntary pension savings. The system changes are to be made as soon as this year, noted the President. 

United Kingdom: Workers Win Pension Compensation (March 11, 2008)
The United Kingdom adopted a new law to compensate workers who have lost at least half of their savings when their companies closed out pension schemes but remained in business, affecting 10,000 people. Union workers warily welcomed the bill that enables people who lost funds to be compensated. This is indeed a good initiative, preventing companies from defaulting on their promise to provide pensions to their workers.

Greece: Greece Hit by Strikes, Power Cuts over Pension Bill (March 11, 2008)
National electrical utility unions as well as garbage collector employees decided to extend their strike in Greece. They are protesting a government pension reform bill that increases the retirement age and reduces benefits, especially for women and working mothers. On the other hand, the government defends the changes, explaining that the current system is unsustainable and the social security system will collapse in 15 years without changes. A compromise must be found to reach the goal of sustainability without weakening the security of older persons.

Czech Republic: Government Approves Amendment to Pension Law (March 11, 2008)
The Czech government agreed on March 9, 2008, to make pension indexation conditions more flexible to compensate for inflation in the country. Prices rise annually by 7.5% in the Czech Republic. The measure will allow pensions to rise as well. The Parliament and President still have to agree for the law to become effective. If accepted, it would be affect more than 2.7 million people.

France: ‘Live and not Survive’ with Pensions (March 6, 2008)
French retired persons demonstrated in their capital city, Paris, to protest against the poor level of their pensions. Surrounded by the biggest retiree trade unions, and helped by slogans like ‘pensions to live and not survive,’ they demanded a revaluation of their pensions. Some demonstrators have to cope with living on a monthly 800 euros pension and cannot afford health care, even for serious conditions. 

France: The French Worry about their Pension (February 26, 2008)
(Article in French)
A new study by the polling institutes TNS Sofres-Fidelity shows that European people worry about their pensions. French people worry the most, whereas inhabitants from Northern Europe are less preoccupied. Europeans think, on average, that people should take care of their pension savings by the age of 28. Sixty-five percent of French people feel they should get more information about pension savings and retirement from the government. 

North Ossetia Increases Expenses for Social Programs for Elderly (February 26, 2008)
(Article in Russian)
North Ossetia, Alania, a republic of Russia in the Caucasias, plans to increase the budget for social projects and spend RUB 1,697 billion for their implementation in 2008. Studies show that the population is aging fast, and half of the senior citizens are 70 years and older. The republic implements a number of social projects for invalids and war veterans as well as politically repressed seniors.

Belgium: Belgians Want to Retire at 62 (February 18, 2008)
(Article in French)
A new study from the General Statistics and Economics Information Direction in Belgium shows that the “planned age of retirement” and the “real age of retirement” are two completely different notions. The planned age of retirement is the age of a worker who considers stopping working. The real age arrives when a retired person receives his or her first pension. This interesting article clarifies some of the categories and stereotypes around retirement age. 

Russia: Ryazan Region Develops a System of Social Services for Pensioners (February 16, 2008)
(Article in Russian)
The local Government of the Ryazan regions supports its pensioners in several ways. Six thousand elderly people receive monthly bonuses to their pensions. Last year, 37 million rubles were allocated from the region's budget for Great Patriotic War veterans' needs. This year the region plans to develop and finalize a plan for improving the social service system for pensioners up until the year 2015. 

Russia: Pension Reform (January 29, 2008)
(Article in Russian)
The Russian Ministry of Health and Social Development plans to “re-style” the pension system. Vice-Premier Dmitry Medvedev said that the government is “targeting for changing the system” towards its simplified and transparent version. Last week Vladimir Putin also announced a pension increase in 2008. The question is, “How does the government plan to implement these pension reforms?”

Russia: Russia Launches an Experiment to Automate Pension Payments (January 22, 2008)
(Article in Russian) 
Ten regions in Russia launched an experiment to automate the pension payment system, which should help to eliminate corruption and make the process of making payments faster. The electronic control system will also decrease the time required to process and allow pensioners to receive payments quickly and without hassles. 

Russia: Pensions Increase by 12% in February 2008 (January 21, 2008)
(Article in Russian)
Insured pensions in Russia increase by 12% starting February 1, 2008. The Russian government estimates it will allow pension increases for more than 26 million people. The Pension Fund will allocate RUB 89,61 million from the federal budget for increases in 2008. 

Russia: Pensioners in Sochi to Receive a Monthly Bonus of RUB500 (January 18, 2008)
(Article in Russian)
All pensioners in Sochi will receive RUB500 as a monthly bonus. The Sochi government estimates that a total of RUB600 million will be spent on bonus payments in 2008. One hundred thousand pensioners will start receiving bonuses from January 1, 2008. 

Russia: Putin: “We Have to Put an End to Poverty among Pensioners” (January 16, 2008)
(Article in Russian)
Vladimir Putin called on the Government “to put an end to poverty among pensioners” during his meeting with Parliament members. The President noted that it was necessary to raise the pension compensation rate in Russia. Putin also criticized the Government for high rates of inflation in 2007 which led to significant price increases in the country. What will happen now?

Norway: Norway's Pension Fund May Ban Sex Industry, Tobacco, Gambling (January 16, 2008)
The Norwegian pension fund may forbid gambling, sex and tobacco companies from its investment portfolio. A ban already exists for firms accused of violating human rights or being ecologically unfriendly. Minister Kristin Halvorsen also said a more generous fund could be opened for companies that invest in renewable-energy companies. Norway has the largest pension plan in all Europe.

France: Publication of the General ‘Special Regimes’ in the French Official Gazette (January 16, 2008)
(Article in French)
The proposed ‘special regimes’ reform of RATP and SNCF, two French rail companies, has fallen off the government agenda. Decrees came out in the ‘Journal Officiel,’ (the official gazette of the French Republic) on January 15th. The Decrees announced the increase in the retirement age for the railroad workers, from 37.5 years old to 40 years old by 2012. The announcement of this measure brought about strikes in public transportation throughout October and November 2007. But the government won this battle and the retirement age has been extended. 

Greece: Greek Workers to Strike Feb 13 Over Pension Reforms (January 15, 2008)
Greek workers from the private sectors will go out on strike on February 13. They are protesting against the government’s pension changes. These changes will raise the retirement age in a certain number of professions that have been considered as ‘dangerous or unhealthy, ’ such as shipyard workers, builders or hairdressers. Greece currently faces a very low birth rate and a dramatically increase in the elder population. 

Nagorniy Karabakh: Government Increases Social Payments by 57% in 2008 (January 10, 2008)
(Article in Russian)
Nagorniy Karabakh enjoyed an economically successful year in 2007 which will allow the regional government to increase the expenses in the social sector by 57% in 2008. The government also plans to improve the pension system as well by developing a foundation for demographic policies in the region. 

Kirgizia: President of Kirgizia: “If the Pension Age Does not Rise Now, We Will Become a Nation of Pensioners” (January 10, 2008)
(Article in Russian)
President of Kirgizia Kurmanbek Bakiev has proposed increasing the pension age which is now equivalent to 60 years old for men and 55 for women. Mr. Bakiev believes that both men and women are quite able to continue working at this age. He also noted that the current pension age might be retained for people living in the regions with severe climate conditions. 

Russia: Krasnoyarsk Region Pays Monthly Bonuses for Pensioners to Buy Public Transport Passes (January 10, 2008)
(Article in Russian)
Pensioners in the Kransoyarsk region will receive RUB100 on a monthly basis to help them purchase passes for public transportation.. However, pensioners are free to spend the bonus payment on their own personal needs. It is estimated that 756,000 pensioners reside in Krasnoyarsk region now and all of them will start receiving compensation in January, 2008. 

Russia: Yekaterinburg Will Continue to Pay Social Benefits in 2008 (January 10, 2008)
(Article in Russian)
Pensioners of Yekaterinburg will continue to receive RUB 2,000 in social benefits as well as RUB 1,200 as compensation for housing repair works. Only those having 35 years in previous work experience will be eligible for payments. 

Russia: Pensions in Moscow Increase Twice (January 3, 2008)
(Article in Russian)
Pensions in Moscow will be increased twice in 2008, says the Major Yuri Luzhkov. The Moscow government is allocating RUB 20,1 billion for the increase. Pensions will go up to RUB 5,310 by February 1, 2008, and a second increase is scheduled for December, 2008, when the pension level will reach RUB 6,54.

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Middle East & North Africa

Morocco: As Morocco Faces Ageing Population, Pension Funds get Renewed Attention (March 30, 2008)
The Government of Morocco is reforming the pension system. According to the Moroccan Interprofessional Pension Fund (CIMR), the pension system is unsustainable and will collapse in 2019 if nothing is done. The Minister of Finance and Economy said the government is considering consolidating the pension fund system, honoring its long-term commitments and creating a ‘harmonious and coherent system.’

Israel: 175 000 Pensioners Slip Below Poverty Line in Israel (March 23, 2008)
(Article in Russian)
There is a significant rise in poverty among pensioners in Israel. In 2007, almost 25% of senior citizens slipped below poverty line. The experts relate the income fall to the government's gradual reduction of pensions. The Bank of Israel estimates that the chance for an Israeli pensioner to live below poverty line is two times higher than for a pensioner in any other country. 

Oman: Oman Raises State Pension Payments by up to 35% (March 19, 2008)
Oman Representative’s ruler, Sultan Qaboos announced the Government will raise the State pension between 5 and 35% to compensate for pensioners‘s lack of resources, due to inflation. The raise will be effective this month. Unfortunately, no more details are now available. 

Morocco: Pension Reform is Necessary (March 13, 2008)
(Article in French)
Researchers say that some changes must be made in the Moroccan pension system. Several studies show that the current workers cannot support the growing number of retired persons. That is why scholars are looking for solutions to keep the commitments given to older persons. In this article, the authors reaffirm that receiving a pension is a human right and shouldn’t be seen as a burden but as an investment. 

Turkey: Turkey to End ‘Nightmarish’ Pensions for 48-Year-Olds (February 27, 2008)
A 1990 law in Turkey enables people to retire at the age of 48. However, the pension system in Turkey is overburdened and the government is trying to reform the law. With the country’s largest trade union, scholars from the government are writing a proposal that would lift the retirement age to 65 by 2048. 

Bahrain: No Early Retirement of Women Workers (November 12, 2007)
“Bahrain government has once again rejected a demand of parliamentarians to implement early retirement of female workers because of high cost of the proposal.” According to the proposal, women who want to take early retirement would be treated on a par with those retiring for sickness or superannuation. Given the gender inequalities in salaries and retirement costs, is this proposal an effective measure to bridge the gaps?

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Global

World: Ageways 70: Social Pensions (February 2008)
More than 70 countries across the world provide a social pension, including at least 50 low and middle income countries. Their experience shows that social pensions are affordable and feasible and that they contribute to economic growth. HelpAge International is calling for a universal social pension for all people over 60 years of age, arguing that a universal pension (paid to everyone over a certain age) is more effective at reaching the poorest people than a means-tested pension (paid only to older people living below a defined poverty level).

World: 2008 Global Pension Assets Study (January 2008)
This report from Watson Wyatt analyses 11 countries’ (Australia, Canada, France, Germany, Hong Kong, Ireland, Japan, Netherlands, Switzerland, United Kingdom, and United States) pension assets. It seems that pension assets have risen everywhere, from 1997 to 2007, but the fastest growing markets are in the US, UK, Japan and Canada. However pension funds markets are volatile and subject to change. This report explains how. 

World: Report: Global Pension Plan (October 2007)
Demographers expect 9 billion human beings in 2050 and more than 2 billion older persons over 60. If nothing changes, 1.20 billion will live under the poverty line by that time. Robin Blackburn, a contemporary English economist, advocates for a ‘global pension’ that would be financed by a small tax on global financial transactions and available to old persons globally. It would enable people over 60 to get, at the beginning, a one-dollar-a-day-pension. According to the author, "this small sum would help to lift hundreds of millions of the aged out of poverty in every part of the globe." 

World: Pensions in Developing Countries: A Quest for a Modern Format for Intergenerational Solidarity (October 2007)
Today, 100 million people over 60 live on less than $1 a day. However, older people take on a key responsibility, especially in developing countries: they often take care of grandchildren while parents move to the cities or suffer from HIV/AIDS. Helping old people would therefore have positive consequences for the younger generation. To fight against extreme poverty among old people, this report argues for setting up social pensions, a non-contributory pension. 

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