September 2017

11Sep

Fintech has transformed payments but not savings, says BlackRock’s chief executive

The financial technology boom has transformed the way over a billion people engage with financial services, particularly when it comes to making payments, but Larry Fink, chief executive of BlackRock, the world’s largest money manager, said that no company has yet managed to use technology successfully to get people investing for the long term. “I believe that if we give more people more confidence about savings, about how to save – like Warren Buffett – then that would transform many...

September 11, 2017
News, Slider
Read more...
11Sep

Korea’s Stubborn Leviathan

Sentencing the billionaire leader of South Korea's largest and most powerful company, Samsung Electronics Co., to five years in prison for bribery and embezzlement sent a strong signal the country might finally push through long-promised corporate reform. But if Korea really wants to clean up the overly cozy and sometimes corrupt relationship between the government and large family-owned business groups, known as chaebol, it will have to look inward to its own national pension fund. Since most workers must contribute...

September 11, 2017
News, OP Ed, Slider
Read more...
11Sep

US. Workers Wanted: Aging population presents double challenge in health care

Wisconsin’s growing worker shortage presents a particularly difficult challenge for the health care industry, especially in rural areas and at facilities that care for the elderly and disabled. As Wisconsin’s baby boomers retire in greater numbers over the coming decades and live longer than previous generations, there will be more consumers of health care while the working-age population that provides those services is projected to stay about the same. According to the Bureau of Labor Statistics, those age 65 and...

September 11, 2017
News, Slider
Read more...
09Sep

Nigeria. Digitization, fintech as panacea to financial inclusion

One of the compelling aspirations of the Federal Government and the Central Bank of Nigeria (CBN) in the last two years has been to ramp up the numbers for financial inclusion in the country. To this end, Nigeria’s apex bank, alongside other regulators in the financial services sector, including the National Pension Commission (PENCOM), has vigorously pursued the agenda of financial inclusion through various initiatives with a clear intent to bring millions of Nigerians, especially those in the informal...

September 9, 2017
News, OP Ed, Slider
Read more...
08Sep

Ageing populations will drag on growth in Asia: IMF chief

 The chief of the International Monetary Fund warned Thursday that ageing populations in key Asian economies will drag on their growth, urging policymakers to step up their response to shifting demographics. Studies show that Asia's population is ageing faster than anywhere else in the world, with Japan forecast to become the first "ultra-aged" country, meaning 28 percent of the population is 65 or over, while a fifth of the people in South Korea are expected to be 65 by 2030. Rapidly...

September 8, 2017
News, Slider
Read more...
08Sep

Philippines. SSS selling more properties to fund pension hike

The state-run pension fund Social Security System (SSS) will sell over P3.45 billion in properties to augment its revenues amid the implementation of the pension hike approved by President Rodrigo Duterte. SSS president and chief executive officer Emmanuel F. Dooc said most of the real estate properties to be auctioned off beginning this year until 2022 include “dacióned” and foreclosed condominium units, houses as well as memorial lots. “Most of these properties identified for sale were paid to the SSS through ‘dación pago’ or...

September 8, 2017
News, Slider
Read more...
08Sep

Major change. Romania’s second pension pillar could have optional contributions

Under current rules, the contributions are evenly split between the first pension pillar, managed by the state, and the second one, which is managed by private administrators. There is a third pension pillar which is private. “Nobody will dismantle pillar II, nobody will nationalize it, nobody will harm it. (…) It will become optional,” said Tudose in an interview for Digi24. The PM went on to say that the first pension pillar had better results based on the minimum wage, but...

September 8, 2017
News, Slider
Read more...
08Sep

Pension reforms in Rwanda

The structural reforms in the Rwandan pensions sector reached its peak on July 19, 2016 with the gazetting of Regulation No. 04/2016 on the registration of voluntary pension schemes and licensing of pension scheme service providers.  The regulations operationalised Law No. 05/2015 of 30/03/2015 governing the organisation of pension schemes. The new law seeks to create a platform for the regulation and supervision on the establishment and management of pension schemes, promoting growth and stability in the sector. It is...

September 8, 2017
News, OP Ed, Slider
Read more...
06Sep

Assets at world’s largest pension funds return to growth

Assets under management at the world's largest pension funds increased in value by 6.1% in 2016, representing a total of $15.7 trillion, according to the latest global 300 research from Willis Towers Watson (NASDAQ:WLTW), a leading global advisory, broking and solutions company. The figures for year-end 2016 show a return to growth, following a 3.4% decline in 2015, while cumulative growth in assets since 2011 now stands at 23.4%. The top 20 funds by asset size in the research...

September 6, 2017
News, Slider
Read more...
06Sep

More Corruption Allegations Mean Brazil Pension Reform Dies Another Day

Brazil's pension reform, which no one in their right mind believes is passing congress this year, got yet another death sentence on Monday. Lower House Speaker Rodrigo Maia said this month was a no-go for entitlement talks. Maia blamed new allegations of corruption against President Michel Temer. "I think that with another example of foul play that we are hearing about in the media makes it difficult for us to pass any proposals for changes to the constitution until the end of...

September 6, 2017
News, Slider
Read more...