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Templatizing micro-Pensions for Africa

Templatizing micro-Pensions for Africa

“It is feasible to imagine a replicable, Africa-specific, digital micro-pension model that can be adopted by multiple African nations. Each country need not then initiate micro-pension inclusion from scratch. Instead, countries could simply adopt, or adapt an Africa micro-pension model, albeit with necessary modifications, to achieve more comprehensive pension inclusion.” Charles M. Machira, Dr. Alfred […]

A Journey to Reform the Retirement System: South Africa’s Experience and Perspective

A Journey to Reform the Retirement System: South Africa’s Experience and Perspective

OVERVIEW Retirement reforms are necessary but difficult for any country. They require strong political will from the Government, support from labour unions and industry, and buy-in from members of retirement funds. While South Africa’s journey to reform the pension sector began in 1992, the focus of this chapter is on the reforms undertaken between 2012 […]

A Template to Jumpstart Digital Micro Pension Inclusion in Africa

A Template to Jumpstart Digital Micro Pension Inclusion in Africa

CONTEXT AND COMPULSIONS In most countries, formal pension arrangements were originally designed for and restricted to salaried employees in the public and private sectors. This inadvertently left out roughly 1.8 billion non-salaried self-employed individuals such as farmers, small shopkeepers, self-employed women, daily wage earners, overseas migrants, street vendors, fishermen, contract labour, gig and platform workers, […]

Compulsions for expanding pension coverage to Africa’s non-salaried workforce

Compulsions for expanding pension coverage to Africa’s non-salaried workforce

INITIAL CONDITIONS Africa Demographics in Brief As per the United Nations, Africa’s population by December 2022 was estimated at 1.42 billion, or nearly 17 percent of the global population, making Africa the second largest continent after Asia by both size and population. UN projections also show that sub-Saharan Africa’s population is growing three times faster […]

Digital Payments and Micro Pensions

Digital Payments and Micro Pensions

ROLE OF PAYMENTS IN BROAD-BASED DIGITAL PENSION INCLUSION The previous book by pinBox, “Saving the Next Billion from Old Age Poverty” covered the progress made in pension inclusion by multiple African and Asian countries. There was one common contributor to their success – a thriving, inclusive digital payments ecosystem. The realization that the vision of […]

Ejo Heza: Rwanda’s Long Term Saving Scheme

Ejo Heza: Rwanda’s Long Term Saving Scheme

INTRODUCTION Rwanda is a young country. Nearly half of its current population of around 13.2 million are less than 18 years old, while 67 percent of the population is 30 years and below (Census Report, 2023). However, Rwanda’s elderly population is growing much faster than the general population. It has increased from 510,000 in 2012 […]

Ghana’s Experience with Expanding Pension Coverage

Ghana’s Experience with Expanding Pension Coverage

INTRODUCTION The Ghanaian experience of expanding pension coverage is of particular interest because of the multiplicity of approaches being adopted and the way in which publicly and privately managed occupational and personal pension provision has been successfully leveraged to expand overall coverage and adequacy of retirement benefits. The boundary between formal and informal employment in […]

Gig Economy Work: Mind the Protection Gaps

Gig Economy Work: Mind the Protection Gaps

EXECUTIVE SUMMARY Today’s workers increasingly offer their services through gig economy platforms, i.e. digital platforms that match workers to customers on a per-service (“gig”) and on-demand basis. Even though rapidly growing, the share of primary work (accounting for the main source of workers‘ income) intermediated through digital platforms is still relatively small, accounting for about […]

Lessons from the Pan-European Personal Pension Product (PEPP)

Lessons from the Pan-European Personal Pension Product (PEPP)

INTRODUCTION Europe, like most other continents, is ageing at a rapid pace. In 2060, there will be two people at a working age for every pensioner, in comparison with four people at a working age at the present time.1 This puts the sustainability of the traditional pension systems across Europe under significant pressure, despite reforms […]

Africa Pension Supervisors Association 4th Annual Conference

Africa Pension Supervisors Association 4th Annual Conference

Introduction Background to APSA The African Pension Supervisors’ Association (APSA) is a membership body that brings together pension regulators and supervisors from across Africa to canvass issues of common interest. The goal of the Association is to provide a platform for collaboration, co-operation and exchange of information and ideas to better supervise, regulate and grow […]