August 2021
11Aug

US. Pandemic Puts Secure Retirement at Greater Risk for Many

The COVID-19 pandemic has had an outsize effect on people 50 and older: Not only did it impact older adults’ health more severely than younger ones, but it also forced many into early retirement and prompted others to take withdrawals from their savings earlier than they had planned. "The prospects of a secure retirement for millions of workers will be even more precarious following the pandemic, and more Americans of all ages will need to rely even more on Social...

August 11, 2021
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11Aug

How COVID-19, politics have impacted Latin America’s private pension fund industry

Assets under management held by Latin America’s private pension fund managers have trended higher, reaching US$659bn last year. Growth, albeit slower than in previous years, was eked out in 2020 amid the COVID-19 economic fallout. Nevertheless, the number of contributors fell. Read also Finland tops global pension rankings These managers – known in private pension fund trailblazer Chile as AFPs – are key drivers of economic development, typically investing in company stock, government debt and infrastructure bonds. Read also The Origins of ESG...

August 11, 2021
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11Aug

UK. Pandemic widens pensions pot gender gap

The gender pensions gap grew to nearly £200,000 this year as the Covid-19 pandemic took a heavy toll on women’s finances, according to new analysis. The difference between the average pension pots of men and women aged over 55 grew to £184,000 in 2021, or £26,000 more than the previous year, according to research published this week by more2life, an equity release provider. Around one-third of women who took part in a UK-wide survey that was part of the analysis said...

August 11, 2021
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11Aug

Young Americans Are Saving For Retirement Sooner

Need some good news about American retirement? A recent survey by the Transamerica Center for Retirement Studies looked at how retirement savings behaviors and expectations have evolved during the Covid-19 pandemic. Some of its findings were grim. Six in 10 respondents said they were concerned about their mental and physical health while the median respondent had just $5,000 in emergency savings. Yet there were also glimmers of hope. More than 80% of respondents saved for retirement during the pandemic, in either employer-sponsored...

August 11, 2021
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10Aug

Sustainability, not size, is vital for growth

Research into economic growth has a long and distinguished history, but the recent introduction of sustainability into the debate has given the field a necessary and overdue shake-up. In particular, a report on the economics of biodiversity, commissioned by the UK government and led by Partha Dasgupta of the University of Cambridge, represents a tectonic shift in thinking, rather than only a logical extension of previous growth models. While this may be unsettling to some, it provides a great...

August 10, 2021
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10Aug

Access, participation and income: The state of retirement plan coverage in the U.S.

A study from The Inclusive Wealth Building Initiative starkly illustrates the gulf between those employees with access to an employer-sponsored retirement plan and those who participate—and, perhaps unsurprisingly, much of that participation depends on income levels. The Initiative, a project of The Economic Innovation Group, derived its data from various surveys, including the Census Bureau’s Survey of Income and Program Participation and the Bureau of Labor Statistics’ National Compensation Survey. The study also used the 2019 Current Population Survey’s Annual...

August 10, 2021
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10Aug

Asia vast savings can bring on an ‘age of sustainability’

Insurance companies, pension funds, and other institutional investors in Asia and the Pacific can pave the way to a resilient and sustainable future. The recent global public health crisis has revealed that economies can no longer afford to return to old ways of doing things. But there could be a silver lining in a coming “age of sustainability” in Asia and the Pacific that can get countries growing strongly again. Reaching this new age, however, will require greater use of insurance...

August 10, 2021
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10Aug

Brexit: Thousands of EU citizens face losing benefits

THOUSANDS of EU citizens living in the UK are set to lose their benefits next month if they haven’t applied for settled status. Campaigners have warned that the UK Government's decision to cut off European nationals could push vulnerable people into destitution. There are fears that many are still unaware that they need to apply for settled status after Brexit. The Independent reports that around 70,000 European nationals who receive benefits had not yet applied to the settlement scheme by the June...

August 10, 2021
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09Aug

World’s Largest Pension Fund GPIF Now Holds Record $1.75 Trillion in Assets

Japan’s Government Pension Investment Fund posted a fifth consecutive quarterly gain in its investments as returns from overseas assets helped make up for losses on domestic equities. Read also Nigeria. N12trn pension assets investment sidelines infrastructure The world’s biggest pension fund gained 2.7% for the quarter ended in June, boosting assets under management by 4.98 trillion yen ($45.4 billion) to a record 191.6 trillion yen, it announced on Friday. Overseas stocks were its best-performing investment, returning 8.6%, while domestic shares lost...

August 9, 2021
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09Aug

Regulator drops plans to cap investments for UK pension schemes

The UK pensions regulator has abandoned plans to limit investment freedoms for retirement schemes holding billions of pounds of assets, as Boris Johnson and Rishi Sunak urge trustees to plough more cash into supporting the UK recovery. Read also UK. Pandemic widens pensions pot gender gap The Pensions Regulator has confirmed to the Financial Times that it will not proceed with a proposal, first outlined in March, to cap investment in unquoted assets to no more than a fifth of a...

August 9, 2021
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