Political economy Archives - Page 2 of 25 - Pension Policy International

16MayMay 16, 2023

What the debt ceiling standoff could mean for your retirement plans

President Biden is expected to meet with congressional leaders on Tuesday about the debt ceiling, with just about two weeks until the country could run out of money to pay its bills. Economists and administration officials have warned that a potential default on the national debt — for the first in U.S. history — would amount to financial disaster, wreaking havoc on the domestic economy and rattling global markets, too. "Our economy would fall into a significant recession," Biden told reporters...

May 16, 2023

NewsPolitical economy, US

15MayMay 15, 2023

US. Debt-ceiling apocalypse could offer opportunities as well, observers say

The ongoing debt-ceiling standoff between Democrats and Republicans could result in buying opportunities for institutional investors as long as widespread faith that the two sides will eventually do whatever is necessary to avoid a U.S. debt default proves well-founded. If not, all bets are off. For now, even as the "X-date" where the government won't be able to cover all of its Treasury bonds and bills coming due approaches— as early as June by some estimates — most market participants say...

May 15, 2023

NewsPolitical economy, US

12MayMay 12, 2023

Canada. British Columbia Investment Management hits pause on China deals

British Columbia's public pension manager has paused direct investments in China, the latest institutional investor to rethink its exposure to the world's second-largest economy due to geopolitical risks. A senior executive from British Columbia Investment Management revealed the policy during testimony this week to a Canadian parliamentary committee. Ontario Teachers' Pension Plan has made a similar move, suspending new investments in private assets in China, Bloomberg reported in January. BCI still has Chinese investments, mostly through public markets and index funds,...

May 12, 2023

NewsCanada, China, Investment, Political economy

09MayMay 9, 2023

Belgium’s recovery plan blocked by pension reform stalemate

Belgium still has not made progress on the thorny pension reform issue even though it would unlock much-needed EU funds under the country’s recovery plan. On Monday, the government decided to increase its borrowing by €408 million to implement the Federal pillar of the recovery plan, Belgian news media La Libre reported. However, while the European Union paid Belgium €770 million of the €850 million of the first tranche in advance, the country was forced to postpone its first formal payment...

May 9, 2023

NewsPension Reform, Political economy

05MayMay 5, 2023

Developments in the Economics of Aging (National Bureau of Economic Research Conference Report)

By David A. Wise The number of Americans eligible to receive Social Security benefits will increase from forty-five million to nearly eighty million in the next twenty years. Retirement systems must therefore adapt to meet the demands of the largest aging population in our nation’s history. In Developments in the Economics of Aging, David A. Wise and a distinguished group of analysts examine the economic issues that will confront policy makers as they seek to design policies to protect the...

May 5, 2023

Aging, Books, Books2019, Political economy

04AprApril 4, 2023

U.K. extends pensions funds’ clearing obligation exemption for 2 more years

His Majesty's Treasury said it will exempt U.K. pension funds from the clearing obligation for an additional two years. Under the European Union's European Markets Infrastructure Regulation pension funds in Europe have until June 18 before they are obligated to clear derivatives. Under the rules of EMIR, all counterparties trading in the European Union are required to post cash, rather than bonds, as the collateral to clear derivatives' exposures. This could mean they have to liquidate otherwise long-term fixed-income investments if...

April 4, 2023

NewsPolitical economy, Regulation, UK

15MarMarch 15, 2023

What the SVB Collapse Teaches Us About Retirement Planning

The startling and swift collapse of Silicon Valley Bank, along with crypto-friendly Silvergate Capital and Signature Bank, shocked industries and investors on a national and global scale. Even as the U.S. Treasury steps in to suppress economic turmoil, its unknown what lies ahead with the U.S. banking system or whether we’ll see additional bank failures in the short-term. In its aftermath, the bank runs and subsequent crashes, along with lingering talks of a recession, touch on the significance behind adequate...

March 15, 2023

NewsInvestment, Political economy, Retirement Planning

06MarMarch 6, 2023

S.Korea pension fund ready to revive FX swap with cenbank

South Korea's National Pension Service (NPS), manager of the world's third-largest public pension fund, will collaborate with foreign exchange authorities when needed to help stabilise the market, its chairman told Reuters. Chairman Kim Tae-hyun also said during an interview on Friday with Reuters that re-establishing a currency swap arrangement with South Korea's central bank which expired at the end of last year could be part of such collaboration. NPS has nearly $700 billion under its management and needs to buy dollars...

March 6, 2023

NewsInvestment, Political economy, South Korea

03MarMarch 3, 2023

Government spending in Spain from a European perspective

By Mario Alloza, Julia Brunet, Victor Forte-Campos, Enrique Moral-Benito & Javier J. Pérez This document presents a detailed analysis of the structure of general government spending in Spain and its recent evolution in comparison to the rest of the European countries. The weight of Spanish public spending is similar to that of neighbouring countries, although below the average for a reference group of European countries (EU-15). Thus, in 2019 the level of public spending stood at 42% of GDP compared to...

March 3, 2023

Articles, System Characterization2022, EU, Political economy, Public Pensions, Spain

27FebFebruary 27, 2023

Puerto Rico government says it won’t cut pensions due to severe déficit

The executive director of the Financial Advisory Authority and the Puerto Rico Tax Agency, Omar Marrero, assured this Saturday that the government of Pedro Pierluisi “will not allow the pensions of our employees to be reduced” in the face of a deficit of several million dollars for retirees. “This government will not allow the pensions of our employees to be reduced. This will always continue to be our objective,” Marrero said in a press release in response to a letter...

February 27, 2023

NewsPolitical economy, Puerto Rico

May 2023

What the debt ceiling standoff could mean for your retirement plans

US. Debt-ceiling apocalypse could offer opportunities as well, observers say

Canada. British Columbia Investment Management hits pause on China deals

Belgium’s recovery plan blocked by pension reform stalemate

Developments in the Economics of Aging (National Bureau of Economic Research Conference Report)

April 2023

U.K. extends pensions funds’ clearing obligation exemption for 2 more years

March 2023

What the SVB Collapse Teaches Us About Retirement Planning

S.Korea pension fund ready to revive FX swap with cenbank

Government spending in Spain from a European perspective

February 2023

Puerto Rico government says it won’t cut pensions due to severe déficit