In November 2015, the National Audit Office of the UK has published a report saying: “The Department for Work and Pensions has successfully introduced automatic enrolment to workplace pensions for large and medium-sized employers.” The National Audit Office found that 58,000 employers have enrolled 5.4 million workers between October 2012 and August 2015. The huge increase in enrolment was due to a small policy change introduced by the UK government in October 2012.
On May 29, Dr. Maksym Obrizan, from the Kyiv School of Economics, provided an interesting seminar on the subject of his working paper, "Retirement in HRS participants: the role of endogenous subjective and objective health measures".
On the first of January, Armenia will adopt an entirely new pension system. This radical reform addresses two problems: widespread poverty among the elderly and a lack of capital in the economy. The very same problems also exist in Georgia, where the standard governmental pension currently is 150 lari, and where the economy is suffering from high capital costs due to notoriously low saving rates.
Many countries in the world run their public pension systems under the so-called pay-as-you-go (PAYG) scheme, where pensioners receive their money from those who are currently working.