Pensions

ADB projects in Mongolia

Ongoing / proposed ADB projects in education, health, financial, road and other sectors in Mongolia (as of July 2009):

ADB study: Asia's growing pension funds can lead the way on responsible investing

HONG KONG, CHINA (22 July 2009) http://www.adb.org/Media/Articles/2009/12943-asian-pensions-studies/ – Asia's pension funds are set to expand rapidly and can become global leaders in the use of environmental, social and corporate governance (ESG) guidelines, says a new study commissioned by the Asian Development Bank (ADB).

Argentina renationalises pension funds

Argentina has renationalised its pension schemes since 2006. The country had developed a national pension scheme from the early 1900s, which expanded from covering 24,000 civil servants in 1904 to provide for 428,000 workers by 1944. In 1994, under pressure from the international financial institutions to reduce government debt, the system was reformed by creating private pension funds to which people had to pay contributions. These funds charged large administration fees, and were very unpopular.

Dutch pension cuts damage mental health

The Netherlands recently decided to change the pension rules for public employees so that those born in 1950 or later get worse pensions when they retire. A study found that after this change, depression rates among those born in 1950 or later were about 40% higher than among those born earlier and retiring under the old rules. Most of those affected reacted by working longer or saving more to try and restore the lost benefits.

China increases pension rights

China is increasing pension rights for millions of rural workers - it has already introduced pension rights for urabn workers. These pensions are partly paid for from taxation, through government subsidies, partly through collective insurance schemes, and partly through individual savings. It is part of Chgina's policy to increase spending by workers; new plans for publicly financed healthcare are being introduced for the same reason.

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