LITHUANIA - Lithuanian is to to raise the pension age to 65 in a bid to improve the country's finances.
Parliament approved a plan on Thursday to increase retirement age by two months a year for men and four months a year for women, which will bring the pension age to 65 by 2026.
The current age for retirement is 60 for women and 62 and a half for men.
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.