CANADA - Retired union members have planned a congress to address why 60% of Canadian workers have no workplace pension at all.
In a meeting of the Congress of Union Retirees (CURC) planned for Tuesday 16 October, retirees from across Canada, are set to map strategy and confront the growing crisis in retirement income,.
They are also adress why many middle-income earners face a major drop in their standard of living when they retire because of inadequate pensions.
A policy paper for the CURC convention said public retirement income reform was imperative to end poverty for seniors, especially for the 17% of single elderly women in Canada who had incomes below the poverty line.
Larry Wagg, president of CURC said: "We tackled this issue back in the eighties and nineties and reduced poverty for the elderly to 5.6% from 21% by 2004. But it's clear today that progress has ground to a halt."
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.