Pension funds now on track

Article Abstract:

The pension fund market of Portugal continues to grow and strengthen as a result of structural developments in the domestic capital market and greater awareness regarding pension management responsibilities. The country' share in pension fund portfolios grew from about 10% of total pension fund assets in 1996 to about 20% at the end of 1997. Portugal is also in the process of amending its 1991 law involving pension funds in an effort to adjust the country's market to changes affecting pension fund operation.

Financial services industry, Financial services, Social policy, Portugal

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Polish grit and determination with through

Article Abstract:

Poland has adapted a pension reform called Security through diversity which ensures that the younger generation will not suffer the same privation that the generation before them suffered beginning in World War II and even in their retirement years. The pension reform provides for employer contributions of 45% of earnings of which 24% goes to finance retirement pensions. The contribution rate will remain at 45% but the employer and the employee will equally share in the contribution.

Poland

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Retirement

Article Abstract:

Hong Kong has more than 15,000 private retirement schemes with total assets exceeding $100 billion Hong Kong dollars. As Hong Kong's work force is relatively young while only a little more than 1 3 of the work force is covered, these retirement schemes are set for growth in the next several years. The Occupational Retirement Schemes Ordinance was implemented in Oct. 1993 to ensure that employers, trustees and providers administer retirement schemes properly.

Analysis, Compensation and benefits, Hong Kong, Retirement planning

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