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Welfare Reform on the Web (September 1999): Pensions - Overseas

A FIRST MODEST STOP TOWARDS MOBILITY OF PENSIONS IN THE EU

D. Schaffer and J. Dale
Pensions International, no. 8, 1999, p. 18-19

Outlines provisions of the European Commission's recent Communication on supplementary pensions. The Communication makes three main suggestions:

  • that a Directive is put in place to provide an EU pensions regulatory framework;
  • that any obstacles to the free movement of labour are removed, so that it is easier for migrant workers within the EU to acquire and transfer supplementary pension rights;
  • that the tax systems of member states are co-ordinated, thus abolishing the inconsistent tax treatment of pension contributions and benefits in different member states.

ITALIAN UNIONS TO FIGHT PENSIONS CUTBACKS

J. Blitz
Financial Times, June 25th 1999, p. 2

Italy's trade unions have warned the government that they would oppose structural cuts in pensions spending in next year's budget, setting the scene for a tense confrontation between the two sides.

ITALY BRACED FOR CONFRONTATION OVER PENSION REFORM

J. Blitz
Financial Times, June 30th 1999, p. 2

Reports that the proposed overhaul of Italy's pension system wll enrage the Trade Unions, more than half of whose membership is made up of pensioners.

PHILIPPINE PENSIONS AND SAVINGS SYSTEM FACES A SHAKE-UP

T. Tassell
Financial Times, June 18th 1999, p. 4

Reports that the Philippine government is considering radical reform of its pensions and contractual savings industry. Among the measures being proposed is a merger of the two state-owned institutions that dominate the industry, the Social Security System (SSS) and the Government Service Insurance System (GSIS). More radically, the government is also considering World Bank proposals to contract the fund management of the GSIS and the SSS to the private sector, strengthening the poor levels of regulation and measures to encourage the development of an annuity industry.

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