2021 marks the beginning of new changes in pension policies across the world. In the United States, a rule has been passed that will require employers to provide retirement-savings accounts to their employees. This is a major step towards promoting retirement readiness and financial security for workers. This rule applies to all employers with at least five employees, and it is expected to impact approximately 45 million employees. The goal of this new policy is to make it easier for employees to save for retirement and ensure that they have sufficient funds to support themselves in their golden years.
In addition to this new rule in the US, there are also changes happening in other countries. Canada is set to increase the age of eligibility for government-provided pension benefits, from 65 to 67. This change aims to reflect the increasing life expectancy and promote more self-sufficiency among retirees. On the other hand, the UK has implemented a new pension scheme that will auto-enroll employees into a workplace pension plan. This is to encourage more people to save for retirement, especially those who do not currently have a pension plan. These changes are a reminder that it is crucial for individuals to stay updated on their pension policies and take proactive steps towards securing their financial future.
Stay informed and take advantage of these pension changes in 2021 to ensure a worry-free retirement. Whether you are an employer