ASIA/PACIFIC - It is only relatively recently that social security reform has emerged as an important public policy concern in many countries in Asia and the Pacific, according to Professor Mukul Asher of the National University of Singapore in a new paper.
Political consensus to pension reforms is vital to tackle the difficult issue of civil service pension reform, says Asher, as civil service pensions in many countries in the region were introduced when government service meant relatively low wages, but they are now costly for governments to finance.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.