September 2018

20Sep

Greece. Pensioners body accuses Labour ministry, EFKA of delaying pensions

A Greek pensioners’ body has accused the leadership of the Labour Ministry, the Single Social Security Entity (EFKA) and the auxilliary pensions fund of delaying on purpose the issuing of new pensions to secure the record surplus the government is presenting to its creditors. The Unified Pensioners’ Network filed a request for an investigation to an Athens prosecutor on Wednesday asking him to investigate whether criminal offences have been committed against pensioners. The network claims a total of 180,000 pensions are...

September 20, 2018
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20Sep

South Africa’s state pension fund invests $100 million in Afreximbank

South Africa's state pension fund said on Thursday it would invest $100 million to buy shares in African Export-Import Bank (Afreximbank) as part of the pension fund's plan to invest in the rest of the continent. The Public Investment Corporation (PIC), which manages roughly 1.9 trillion rand ($130 billion) of civil servants' pensions and is Africa's biggest pension fund, said it would acquire Class B shares in Afreximbank. The PIC said the investment was part of its plan to invest 5...

September 20, 2018
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19Sep

Ireland. One in five will still pay mortgage in retirement

Large numbers of cash-strapped householders expect to be still paying off their mortgages in retirement. A third of people are also concerned about having enough money to live on when they give up work, according to research into pensions commissioned by Zurich Life. The survey found that one in five of those with a mortgage is so heavily indebted they expect to be still paying off the home loan when they cease working. An even higher proportion of renters have given up...

September 19, 2018
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19Sep

Corporate governance key to pension’s growth

The concept of sustainable investment is becoming more essential daily as an effective means of achieving desired impact on the global environment. The sustainable investment approach considers Environmental, Social and Governance (ESG) factors, as well as the long-term health and stability of the economy as a whole. These were the assertions of the Pioneer Director-General, the National Pension Commission (PenCom), Muhammad Ahmad, at the conference of Directors of Licensed Pension Operators in Nigeria, in Lagos. Read more Guardian

September 19, 2018
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19Sep

Pensions in Bulgaria will Rise by 5.7% from 1 July Next Year

Current estimates show that the upgrading of pensions from July 1 next year will be higher than in recent years. All pensions are expected to be raised by 5.7%, Labor and Social Policy Minister Biser Petkov told bTV on Tuesday. He explained that this was a direct consequence of the increase in income. According to Petkov there is no discussion of new growth of the minimum pension and promotion other than the annual indexation of pensions. Every year, from July 1,...

September 19, 2018
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19Sep

UK. Regulator to monitor 60 pension schemes ‘one to one’

The Pensions Regulator (TPR) is to launch a new approach to its workplace pension regulation which will see it provide 'one to one' supervision of 60 pension schemes. The new range of interventions aim to address risks sooner, clarify the regulator's expectations and take action where necessary. It will include the introduction of a supervision regime to monitor schemes more closely, with higher and lower intensity interventions dependent on the risks identified. From next month, TPR will implement one-to-one supervision for...

September 19, 2018
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19Sep

India. PFRDA caps MF investment by NPS; Kotak Pension most hit

A recent circular from PFRDA says pension fund managers of NPS can invest only 5% of corpus in mutual funds The pension regulator has finally taken cognizance of the fact that pension fund managers (PFMs) under the National Pension System (NPS) shouldn’t outsource fund management to mutual fund companies. A circular issued by the Pension Fund Regulatory and Development Authority (PFRDA) on 20 August puts a cap on the amount of corpus the PFMs can invest in MFs to manage...

September 19, 2018
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19Sep

Armenia to raise minimum pension by 60 per cent

Armenia’s government announced on September 17 that it plans to increase pensions by 60 per cent from January 1, 2019. According to the new bill, the new basic pension will be 25,500 drams (approximately 52.50 US dollars), which the government claims will be enough to top the threshold of food poverty. Armenia’s current basic pension is 16,000 drams. The news was broken by Mesrop Arakelyan, an advisor to Armenia’s prime minister, Nikol Pashinyan. However, on his Facebook page, Mr Arakelyan...

September 19, 2018
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18Sep

Watchdog Vows ‘Radical Shake-Up’ For Pensions Sector

Law360, London (September 17, 2018, 4:53 PM BST) -- A growing number of Britain's workplace retirement funds will face tougher scrutiny starting next month as part of a “radical shake-up” by The Pensions Regulator, the watchdog said Monday. Schemes of all sizes and across all sectors can expect more contact with the regulator as it accelerates efforts to identify risks and intervene sooner, outgoing Chief Executive Lesley Titcomb said in a statement. “Following a complete review of our entire approach to...

September 18, 2018
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18Sep

US 401(k) Plan Quality Correlates With Company Profits

Study finds companies with highly rated plans have gross profit margins well above average Companies with top-rated 401(k) retirement plans tend to be more profitable than those with low-rated plans. That is the conclusion of a new study from T. Rowe Price Group Inc., which found there is “a strong correlation between corporate financial performance and overall 401(k) plan quality,” said Joshua Dietch, head of the asset management firm’s retirement and financial education team. Read more WSJ

September 18, 2018
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