April 2020

15Apr

Canada. The coronavirus has created a tremendous financial opportunity for workers with a pension

Unique opportunities sometimes come in extreme times. The one detailed below on commuting the value of your pension won’t be an option for many, but for those with the ability to take advantage, it could meaningfully improve their retirement finances for years to come. Read also Canada’s Pension Funds Prepare for Post-Virus World This opportunity is based on three fundamental facts First, the current or commuted value of your pension is much higher when interest rates on 5 Year Canadian Bonds are...

April 15, 2020
News, Slider, ,
Read more...
14Apr

World Bank to allocate 150 mln USD to Ukraine for social protection

The World Bank will provide Ukraine with an additional 150 million U.S. dollars for social protection needs during the COVID-19 epidemic, the press service of the Ukrainian Ministry of Social Policy said on its website Friday. Read also Africa’s demographic transition The statement said 50 million dollars will be used to support vulnerable groups during the outbreak and 100 million dollars are earmarked for improving social protection in general. Read also India: Pension schemes draw more members Ukraine joined the World...

April 14, 2020
News, Slider, , , ,
Read more...
14Apr

US Corporate Pensions See Shocking $93 Billion Funding Gain in March

Defying forecasts of another grim month due to global market volatility, the funded status of the 100 largest US corporate pension funds surprisingly increased $93 billion in March despite deteriorating economic conditions amid the COVID-19 pandemic. Just a month after hitting its lowest level in more than three years the Milliman 100 Pension Funding Index (PFI), which tracks the funded ratio for the 100 largest corporate pension plans in the US, rose to 85.6% from 82.1% at the end...

April 14, 2020
News, Slider, , , ,
Read more...
14Apr

How Coronavirus Pandemic Is Affecting Fintech Companies

As the world evolves and becomes a lot more advanced, financial technology (fintech) companies have a bigger chance to solidify their positions. While the use of technology is not new, fintech companies exploit technology a lot better, putting them way above traditional financial institutions. With the ongoing coronavirus pandemic, there is a lot of uncertainty about life and business after the pandemic. As biting as it has been, we look at the effects of the coronavirus situation on fintech...

April 14, 2020
News, Slider, , ,
Read more...
14Apr

Is quarantine like early retirement? These people think so

Shelter-in-place orders have urged most Americans to stay home, freeing hours of time otherwise spent commuting or working at an office. They’re also getting creative about how they use this time, including running around the neighborhood, learning a new language, taking long walks with their dogs and cooking more. Some Reddit users say if this is what early retirement is like, they’re ready. “I sleep in and wake up on my own every day. I watch some news/TV, take...

April 14, 2020
News, Slider, ,
Read more...
13Apr

US. Retirement planning during coronavirus pandemic: Here’s what to watch for

Retirement in the age of coronavirus isn't going to be easy. True, seniors and pre-retirees can take advantage of some flexible and lenient new rules on retirement accounts. Some people might see new opportunities for part-time employment, especially those who can work from home. In many other ways, things could get tougher, especially for people who already were behind on their retirement preparations. More reliance on Social Security As happened during prior recessions, many older workers will lose...

April 13, 2020
News, Slider, , ,
Read more...
13Apr

Greece. Nightmare scenarios for pension system

Social security experts and the government are having to consider nightmare scenarios with unemployment above 20 percent and a recession of close to 12 percent once the coronavirus pandemic has subsided. The fiscal turbulence is also expected to affect forecasts for the social security system, as the revenues of the main pension fund (e-EFKA) are expected to plummet, which means that the state will have to step in and help out. Read also Public pension funds shouldn’t wait for...

April 13, 2020
News, Slider, , , , ,
Read more...
13Apr

Egypt. COVID-19 crisis likely to propel social protection reforms: Mashaat

The novel coronavirus (COVID-19) crisis is likely to accelerate the structural reforms as regards the social protection and the irregular workers alongside activating the financial inclusion as per the policies of the Central Bank of Egypt (CBE), said International Cooperation Minister Rania el Mashaat on Monday. The minister was addressing a video conference session about the short and long-term repercussions of the coronavirus pandemic organized by the Middle East Institute (MEI), a leading non-profit think tank and cultural center...

April 13, 2020
News, Slider, , , , ,
Read more...
13Apr

Qualified Longevity Annuity Contract Definition

Qualified Longevity Annuity Contracts (QLACs) were first introduced in 2014 by the IRS and the Treasury Department as a way for people to use their Traditional IRAs (and some employer sponsored plans) to plan for future income needs. The goal was to have people add additional income guarantees to add to their Social Security payments. The premium funding rules for QLACs in 2020 is the lesser of 25% of your total IRA (i.e. qualified) assets or $135,000...whichever is...

April 13, 2020
News, Slider,
Read more...
13Apr

Jamaica. COVID-19 is opportunity in disguise – disaster risk expert

Dr Dennis Edwards, who was part of a panel organised by the Caribbean Sociological Association (CASA) to examine the social fallouts occasioned by the pandemic last week, said COVID-19 should be taken “as a sort of opportunity in disguise”. “I am of the view that we here in the Caribbean – this being maybe the third most multi-hazard region in the world – should be taking this time to simulate, model, drill, not only for a single disaster such...

April 13, 2020
News, Slider, , , ,
Read more...