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According to most analysts, the fall in discount rates raised liabilities by more than the growth in equities, leading to deterioration of funded status in March.
AS the Philippines now has among the world’s worst retirement systems, the Executive and the Legislative branches were prodded to convene high-level task forces to study and enact pension reforms before 2028. According to House Committee on Ways and Means Chairman Joey Sarte Salceda, the government should enact pension reforms…
The poor local pension and retirement system will ultimately prevent the Philippines from being a rich country, economist-congressman Joey Salceda opined on Saturday, Oct. 22.
(Emil Kalibradov/ Unsplash)
“Among the world’s most populous economies, we have almost the worst pension syste