October 2018

30Oct

US. Pension Funds Point Finger at Lobbyists of Polluting Companies

A group of pension funds that control $2 trillion are pushing for 55 large European energy, mining and transportation companies to scale back their anti-climate lobbying. Sweden’s AP7, Legal & General Group Plc, the Church of England’s pension fund and Robeco of the Netherlands wrote to the chairman of each company, asking them not to use organizations that try to ease governments’ environmental rules and to be transparent about their own lobbying. The list of recipients includes 10 oil and...

October 30, 2018
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30Oct

UK. TPR bans pension trustees over high-risk investments

The Pensions Regulator (TPR) has banned two trustees of the London Quantum pension scheme for transferring funds into high-risk and suspected scam investments. Stephen Ward and Anthony Salih, directors of Dorrixo Alliance Limited, which acted as trustee for the London Quantum pension scheme were found to have put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays. TPR’s determinations panel has banned both men from acting as pension trustees due to their ‘lack of...

October 30, 2018
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30Oct

Bulgarian Pensions to Increase by 5.7% From 1 July 2019

Bulgarian government approved the bill on the state social security budget for 2019. According to it by 5 July the pensions granted by the end of 2018 will increase, announced the press center of the Council of Ministers. As of 1 July 2019, the minimum amount of the retirement pension will be raised to BGN 219.43. From the same date, the maximum amount of one or more pensions received will increase from BGN 910 to BGN 1,200. In 2019, BGN 9,988.2...

October 30, 2018
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30Oct

Chile’s Pinera presents pension reform plan in bid to boost payouts

Chilean President Sebastian Pinera presented a plan on Sunday to reform the country´s ailing pension system in an effort to boost payouts seen by many as insufficient in one of Latin America´s most stable economies. Pinera said in a televised evening address that he would ask employers to pick up the tab for an additional 4 percent contribution to each of their workers´ pension funds, to be phased in and managed by an administrator of the employee´s choosing. Read also Chile. Piñera...

October 30, 2018
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29Oct

UK. Budget 2018: Dutch-style pensions revolution could see thousands of workers pool retirement pots

Tens of thousands of workers will be able to pool their retirement pots under a pensions revolution expected to be outlined in the Budget. Philip Hammond is expected to announce a consultation on Dutch-style pension schemes - known as "peoples' pensions" - which will thousands of members pay into a single pot. The approach is seen as a "middle way" between gold-plated final salary schemes, which guarantee income in retirement but can leave companies with huge deficits, and defined contribution schemes...

October 29, 2018
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29Oct

How Persistent Low Returns Will Shape Saving and Retirement

By Olivia S Mitchell,‎ Robert Clark,‎ Raimond Maurer Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders debate alternative strategies to cope with these challenges globally, as economic growth remains slow...

October 29, 2018
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29Oct

Vulnerability: False Hope for Vulnerable Social Security Clients?

By Terry Carney (The University of Sydney Law School) This article reviews the concept of vulnerability and examines its salience for selected aspects of Australian social security. It argues that vulnerability is a welcome shift from individual to relational thinking, of particular relevance to measurement of deprivation and richer transformations of delivery of welfare services (and access to social and informal support). Vulnerability is a productive analytical lens for better understanding aspects of law and policy, but remains too capacious...

October 29, 2018
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29Oct

Population Aging: Impacts and Policy Imperatives

By The Bank of Korea The Republic of Korea is aging rapidly, as the average woman in her childbearing years gives birth to only 1.17 children ─ among the world’s lowest numbers as of 2016 ─ while people are also living longer. The country is projected to enter into the status of an aged society from 2018, with a share of the elderly in its population of 14.3%, and to become a super-aged society with a share of 20% in...

October 29, 2018
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26Oct

Namibia: Pension Funds Could Boost Economy Through Infrastructure Fund

"Investing in scary times" was the theme of an event held by Eos Capital, a private equity manager, in Windhoek on Tuesday. Speaking at the event was the CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Tanya van Lill, with the key message that pension funds in Namibia can find attractive and safe returns during these times by investing in private equity and infrastructure funds while also helping to stimulate the economy. Pension fund assets as...

October 26, 2018
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26Oct

US. New York state sues Exxon Mobil for deceiving investors on climate-regulation risk

Company engaged in fraudulent behavior that went all the way up to ex-CEO Rex Tillerson, who went on to serve as Trump’s first secretary of state New York Attorney General Barbara Underwood has filed a lawsuit against energy giant Exxon Mobil Corp., alleging that it misled investors about the true risks to its business posed by climate-change regulations. The suit comes after a roughly three-year probe and does not charge the company XOM, -1.03% with contributing to climate change as a...

October 26, 2018
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