October 2020

20Oct

US. Employers Need to Reinvent Retirement-Savings Match

One of the building blocks of the U.S. retirement savings system is the employer match. If workers contribute to their retirement savings, 54% of employers will contribute as well, according to a recent report by the Plan Sponsor Council of America (PSCA). By helping people prepare for retirement, the match boosts the financial security of workers while giving employers additional workforce flexibility. The recession threatens to undermine the employer match as we know it. According to a survey by...

October 20, 2020
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20Oct

Mercer CFA Institute Global Pension Index 2020

By Merced CFA Institute What makes a world-class pension system in 2020? Pension systems around the world are facing additional pressures in 2020. The widespread economic impact due to COVID-19 has had both immediate and long-term implications for retirees. Additionally, increasing life expectancies and rising pressure on public resources to support the health and welfare of older citizens will affect how citizens around the world will retire in the mid to long-term. “The economic recession caused by...

October 20, 2020
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19Oct

Kenya.Pension Bill for Members of Council Assembly gets governors’ backing

Governors will support MCAs in their push for a law that will give them pension after service. Read also Kenya mulls reforms to attract pension funds to invest in infrastructure projects The new legislation that is developed by the Council of Governors on the welfare of governors and deputy governors will also cover county assembly speakers and MCAs. Read also US. Pension Fund Freezes New Investment With Apollo Over Founder’s Epstein Ties Council of Governors chairman Wycliffe Oparanya said the proposed...

October 19, 2020
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19Oct

Canada. CPPIB urged to plan now for net-zero reality

Despite Canada's economic reliance on its oil and gas industry, finance experts and sustainability advocates are urging large public investors like the C$434.4 billion ($326.3 billion) Canada Pension Plan Investment Board to implement long-term investment strategies that better align with the federal government's pledge to achieve net-zero carbon emissions by 2050. Multiple sources agree that Toronto-based CPPIB, Canada's largest pension fund, should support the country's transition to a low-carbon economy, enhance its disclosure of fossil-fuel investments and set a...

October 19, 2020
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19Oct

Japanese pension funds may hold key to Chinese JGB puzzle

China has ramped up purchases of low-yielding Japanese government bonds China stormed back into Japanese government bonds over the summer with ¥2.2tn ($21bn) in purchases between June and August — the biggest three-month spree since Japan’s Ministry of Finance began compiling data in 2005. The country has made several similar incursions to the JGB market since 2016 — the previous record high for purchases — snapping up Japan’s notoriously low-yielding debt on a grand scale and causing head-scratching over what...

October 19, 2020
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16Oct

South Africa. Billions unclaimed from pension funds

Takalani Lukhaimane of the Financial Services board says over R50-billion worth of pension funds have not been claimed by the rightful beneficiaries. Read also Will emigrating South Africans be allowed to withdraw their retirement savings? The Financial Sector Conduct Authority is urging South Africans to go online through the FCSA database to check if they qualify. Read also South Africa. Deflation puts brakes on retired SA public servants’ pensions "We have various ways in which people can make an enquiry, one...

October 16, 2020
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16Oct

UK. What the amendment to the Pension Schemes Bill could mean in the battle against fraud

During the maelstrom of seven months of Covid-19, we’ve grown used to hearing about a select number of reoccurring concerns, one of which is the menace of pensions fraud. Although pensions fraud is not a new phenomenon, there has been growing concern that the environment of uncertainty created by the global pandemic is enabling ruthless scammers even more freedom to wreak their misery. Barely a week has gone by without there being a round of headlines relating to the...

October 16, 2020
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16Oct

India. Regulator Plans To Hike Fee Charged By NPS Fund Managers

Fund managers of the National Pension Scheme will soon be able to charge a higher fund management fee. Read also Canada. Commission on Aging to hear about COVID-19 impact on elderly at Oct. 21 meeting A committee, comprising members of the Pension Fund Regulatory & Development Authority as well as representatives of the mutual fund industry, is finalising a proposal for a new fee structure for the fund managers of the NPS, Supratim Bandyopadhyay, chairman at the regulator, said at...

October 16, 2020
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16Oct

The Importance of Extending Diversity to the Retirement Plan Committee

This year, in particular, with the protests that sprung up across the country following the death of George Floyd, has shown many companies the importance of having a truly diverse workforce. And that principle should extend to the retirement plan committee as well as the workforce, experts say. While having a diverse committee is ideal, the first thing plan sponsors should do is select experts to sit on the committee, says Timothy Irvin, a director and corporate markets practice...

October 16, 2020
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16Oct

Retirement tontines: Using a classical finance mechanism as an alternative source of retirement income

Households face two related but distinct financial challenges as they prepare for retirement: first accumulating enough retirement savings during their working years, and then spending down their assets wisely after retiring. A substantial literature reaching a wide range of conclusions examines the extent to which households are saving adequately for retirement. But there is more consensus about the challenges households face when deciding how best to spend down their savings. People do not know how long they or their...

October 16, 2020
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