News Archives - Page 778 of 796 - Pension Policy International

24AprApril 24, 2017

Voters furious at heartless Tory plans to raid pensions and hike taxes after the election

Angry voters have rejected Theresa May’s heartless plan to hike taxes and raid pensions after the election. A new poll shows nearly a third of people are less likely to support the Tories following Mrs May’s refusal to rule out tax rises or back the triple-lock on pensions. The resounding thumbs-down for the Prime Minister came as she dodged the press, public and awkward questions yesterday by doing a disappearing act. Instead, she sent out floundering ministers to face the music –...

April 24, 2017

NewsUK

21AprApril 21, 2017

UK. Macquarie denies asset stripping plan as it buys Green Investment Bank for £2.3bn

Macquarie has insisted it will not asset strip the Green Investment Bank in the wake of its £2.3bn acquisition of the lender despite admitting it will sell off parts of the business following the controversial privatisation. The Government today announced a consortium led by the Australian bank had won the auction for GIB with a deal to buy it for £1.7bn and a pledge to meet a further £600m of the lender’s outstanding commitments. It marks a £160m premium to...

April 21, 2017

News

21AprApril 21, 2017

Inadequate pensions leave India’s elderly no choice but to work

Kamla Devi (not her real name), of advanced but uncertain age, lives in Lohari, a remote adivasi village located inside a wildlife sanctuary in Udaipur, Rajasthan. On a summer day in 2016, we approached her as she was chasing after a small herd of goats, to ask questions as part of a study on the relation between ageing, paid work and pensions. Our very first question–whether she was a beneficiary of the government's non-contributory pension scheme for the aged–irritated her....

April 21, 2017

NewsIndia

21AprApril 21, 2017

UK. Tata Steel offers £520m pensions payment in bid to secure future

Tata Steel could pay more than £500m into its UK pension scheme as part of a deal with regulators that involves the Pension Protection Fund taking a stake in the business. The Indian-owned company needs to find a solution to its pension scheme to secure the future of its UK operations, which employs 8,000 workers and includes the Port Talbot steelworks in south Wales. Tata Steel is trying to hive off its historic liabilities before merging its European steel operations...

April 21, 2017

NewsUK

21AprApril 21, 2017

What HK can learn from Taiwan’s pension fund chaos

Taipei Mayor Ko Wen-je was among those assaulted by protesters outside the parliament on Wednesday. The violent protest was triggered by President Tsai Ing-wen’s plan to reform Taiwan’s hemorrhaging pension system, which is expected to go bankrupt within three years due to excessively high benefits. Concerned that their retirement income will be cut, a large number of retired civil servants, teachers and servicemen have tried to stop lawmakers from entering the legislative complex in central Taipei. Ko became a target probably...

April 21, 2017

News, OP EdTaiwan

21AprApril 21, 2017

UK. Regulator pledges to act quickly on DB pension problems

The Pensions Regulator (TPR) has promised to act quickly when it identifies problems with defined benefit (DB) schemes. In its corporate plan for 2017-2020 TPR also said master trust regulation would be a priority. TPR will spend an additional £7.9 million in 2017-18 compared to last year, £3.5 million of which will be spent on the implementation of a master trust authorisation regime and an increase in frontline resources to tackle defined benefit failures more efficiently. The remainder is associated with the...

April 21, 2017

NewsUK

20AprApril 20, 2017

US. Metro’s Manager Calls For More Funding, Reduced Pensions

Metro general manager Paul Wiedefeld officially charged into the region’s political arena Wednesday, unveiling an ambitious plan to save the transit system’s sinking finances. Wiedefeld is calling on local lawmakers to establish a dedicated source of funding that will provide $500 million annually for WMATA’s long-term infrastructure and maintenance needs. However, he is not prescribing a specific solution, such as a regional sales tax. Wiedefeld is leaving that for elected officials to decide. The bottom line of Wiedefeld’s long-awaited report, published...

April 20, 2017

NewsUS

20AprApril 20, 2017

UK. Ready or not – a new data protection regime is coming

The pensions industry has one year to prepare for new regulations coming its way. Europe's new data protection legal framework is set out in the General Data Protection Regulation (GDPR) which will come into force in all EU Member States on 25 May 2018, including the UK. While the changes are not radically different to the current legal requirements, there are important developments that the pensions industry needs to be aware of ahead of May 2018. Key points 1. A new...

April 20, 2017

NewsUK

20AprApril 20, 2017

Kenya to launch universal pension scheme in January 2018

Everyone in Kenya over the age of 70 will be entitled to a new, guaranteed monthly income after the country’s Cabinet Secretary of Finance, Henry Rotich, announced the launch of a universal pension in January 2018. Kenya follows in the footsteps of Tanzania’s semi-autonomous island Zanzibar, which became the first location in east Africa with a fully state-funded universal pension last April. Making the announcement in his 2017/18 budget speech yesterday (30 March), Mr Rotich revealed that people above 70 will...

April 20, 2017

NewsKenya

19AprApril 19, 2017

House GOP bill would give Trump greater power over Wall Street regulation

A sweeping House GOP bill would give the president new powers that could limit the independence of certain regulatory agencies. House Financial Services Chairman Jeb Hensarling last week unveiled an outline of his bill aimed at dismantling the 2010 Dodd-Frank financial regulatory reform. At the top of Republicans' long wish list: handing the president authority to fire the heads of the Consumer Financial Protection Bureau, a consumer watchdog agency, and the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae...

April 19, 2017

NewsUS

April 2017