News Archives - Page 783 of 796 - Pension Policy International

05AprApril 5, 2017

Greek Pensions Hot Potato Puts Tsipras in Bailout Tight Spot

Athens resident Spiros is among the reasons Greece is having a hard time reaching a bailout accord with creditors. The 82-year-old is one of about 2.7 million pensioners likely to face a cut in monthly payments for the 12th time since the debt crisis in 2010, as part of the measures required for the disbursement of the next tranche of emergency loans. The government of Alexis Tsipras wants any new cuts in pensions to be phased in gradually and not...

April 5, 2017

NewsGreece

04AprApril 4, 2017

US. Debt Market Lures Billions as Verizon, GM Pursue Pension Trade

Employers saddled with swelling pension obligations and higher government fees on those liabilities are finding some relief in the corporate debt market. Delta Air Lines, Verizon Communications Inc., and FedEx Corp. have issued more than $14 billion in bonds this year in which some proceeds were flagged for bolstering their retirement programs, according to data compiled by Bloomberg. Last year, General Motors Co. did the same, and International Paper Co. had a debt sale as part of a plan to...

April 4, 2017

NewsUS

04AprApril 4, 2017

The reason underfunded pensions are a disaster waiting to happen

While most corporate employers shifted from pension plans to 401(k)s after the latter’s creation in the early 1980s, governments still offer pensions to many employees. And those pensions have left retirees and taxpayers in a bind that has fueled political battles while continuing to en rich investment consultants and managers: Too-optimistic estimates of market return, which determine how much governments must pay to fund the balance, have left many plans massively underfunded even as the advisers who managed them received...

April 4, 2017

NewsUS

04AprApril 4, 2017

Population ageing and decline ‘key focus’ as UN Commission opens 50th annual session

The United Nations advisory body on issues related to population and development today kicked off its annual session, with a focus on changing population age structures and sustainable development. “Population ageing and population decline have now become key issues for a growing number of Member States,” Under-Secretary-General for Economic and Social Affairs Wu Hongbo told the opening segment of the Commission on Population and Development’s fiftieth annual session, which will run at UN Headquarters through 7 April. He also noted that...

April 4, 2017

News

04AprApril 4, 2017

US. CFA Institute Blasts Senate’s Move to Block Auto-Enrollment Retirement Plans

The CFA Institute says moves by politicians to end automatic enrollment of some workers in retirement savings plans are misguided. The group shared its thoughts on Friday, a day after the Senate followed the House and passed a resolution to undo rules helping municipalities and states set up payroll deduction retirement plans that automatically enroll private-sector workers lacking access to such savings programs. Full Content: Think Advisor

April 4, 2017

NewsUS

04AprApril 4, 2017

Ultralow rate driving Japan’s public pension fund out of JGBs

The Bank of Japan's zero interest rate policy is forcing Japan's Government Pension Investment Fund to take on more risk via an increased portfolio allocation to stocks, as near-zero yields have made Japanese government bonds nonviable as core holdings. The GPIF aims to secure returns equivalent to the rate of wage growth plus 1.7 percentage points in order to make good on payouts. The fund overhauled its base asset allocation policy in October 2014 amid the reflation push by the...

April 4, 2017

NewsJapan

03AprApril 3, 2017

UK. Losing pension drives BMW workers to strike

UK workers employed at the BMW plants have voted to strike in a fight over pensions, the Unite union has announced. These workers employed for making Rolls-Royce and Mini engines are planning to strike as their final salary pension scheme is being closed. The union said the proposed order would mean that some UK workers "lose up to 160,000 in retirement income". Timeline 27 Sep 2016 BMW says come 2017 old pension schemes to close BMW, the German car giant announced its plans...

April 3, 2017

NewsUK

03AprApril 3, 2017

UK. Pension schemes are a ‘material risk’ to FTSE 250

A significant number of British businesses are sitting on pension schemes that could represent a "material risk" to their business, a retirement consultancy has warned. An analysis of FTSE 250 accounts has found that 23 businesses - including the AA, Thomas Cook and Balfour Beatty - would have to withhold payments to shareholders for over two years if they needed to clear their pension shortfalls, compared to just seven in the FTSE 100. The study by JLT Employment Benefits also found...

April 3, 2017

NewsUK

03AprApril 3, 2017

The Future of Labour Is Not Pre-Determined

In the heart of the Agenda for Sustainable Development is the demand to end poverty worldwide. Decent work seems to be the best way to generate income for people worldwide under fair conditions. In 2017 according to calculations by the International Labour Organization (ILO), about 200 million people are unemployed, another 1.4 billion are underemployed. There is still a long way to go. Guy Ryder, the general director of ILO has found the time to discuss with DDD why...

April 3, 2017

News

03AprApril 3, 2017

UK. Pensions hole deepens at Sir Philip Green’s Arcadia

The pension deficit at Sir Philip Green’s Arcadia Group soared to £565m last year as BHS was dragged to its knees by its own shortfall, according to new documents released last night by MPs. The retail billionaire had said he would double his annual contribution into Arcadia’s pension fund to £50m. However, at that time it was believed the deficit was only £200m. Now new papers, dated after the company’s triennial valuation, show the full severity of the issue. They also...

April 3, 2017

NewsUK

April 2017