May 2020
27May

US. The Federal Employee Retirement Plan Should Add, Not Delete Chinese Stocks

By Ric Edelman Never mix investing with politics, as I wrote in my bestselling book, The Truth About Retirement Plans and IRAs. Sadly, for millions of American public servants, the board that controls their $600 billion retirement savings plan just did. The Federal Retirement Thrift Investment Board just halted its plans to include Chinese stocks in the Thrift Savings Plan, the 401(k) equivalent for federal employees and members of the military. First, some background. The TSP has five core...

May 27, 2020
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27May

South Africa. Odds stacked against investment industry as Covid-19 hits pension contributions

The investment industry could face one of its toughest years to date in 2020 as people are losing their jobs and cashing out their pensions to survive, while companies are giving those who remain employed options to save less for retirement. One of SA's biggest asset managers, Coronation Fund Managers, said while it is still early to assess the impact of coronavirus-related job losses on the industry, it is safe to expect that less money will be coming in....

May 27, 2020
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27May

Spain: Pension Payouts And Registrations Fall After Coronavirus Crisis Hits Elderly

The coronavirus crisis has triggered an historical drop in the number of state pensions paid out in Spain in May, in part because of two months of high mortality caused by coronavirus. Read also The Game of Pension Risk Transfers Continues Some 9,754,137 contributory pensions were paid out in May, 38,508 fewer benefits than were paid out in April.The fall has triggered an unprecedented drop in Spain’s monthly pension bill. In May, it fell by 0.3% to 9.8 billion...

May 27, 2020
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27May

The Future Of Fintech: The New Normal After The Covid-19 Crisis

OBSERVATIONS FROM THE FINTECH SNARK TANK The “new normal” in banking and fintech is best understood by starting with a look back at what the “old normal” was. The Old Normal: Fintech Fetishism The Oxford dictionary defines fetishism as “worship of an inanimate object for its supposed magical powers.” That’s a good term for how many people have thought—and still think—of fintech. There’s a misguided notion held by many that fintech startups are somehow more ethical than legacy banks,...

May 27, 2020
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26May

The Arrival Of The ‘Unavoidable Pension Crisis’

By Lance Roberts I wrote an article in 2017 discussing the “Unavoidable Pension Crisis.” At that time, most did not understand the risk. Since then, the situation has continued to worsen. COVID-19 pandemic has likely triggered a rolling pension collapse over the next couple of years. This idea was discussed in more depth with members of my private investing community,Real Investment Advice PRO. Read also Allianz unveils the first edition of its Global Pension Report In 2017, I wrote an...

May 26, 2020
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25May

Australia. Universal pension for all: Retirees call for tax and income reform

Every retiree would get at least a part pension under a plan being considered by seniors' groups amid concerns the coronavirus pandemic's effect on key income streams is leaving many older Australians cash poor and increasing the number living in poverty. Seniors organisations are pressing the Morrison government to look at a massive overhaul to the pension system that would also take into account possible changes to tax concessions, such as franking credits, as a way to pay for...

May 25, 2020
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25May

South Africa. Eskom must tackle the cost of its coal contracts

By Vuslat Bayoglu The lockdown is imposing additional financial strain on Eskom and necessitates urgent solutions to get the company on a sustainable path beyond Covid-19. It is estimated Eskom will lose between R2.5 billion and R3 billion in revenue per month due to the low electricity demand triggered by the national lockdown. This will compound existing problems: R450 billion debt, maintenance arrears, costly Medupi and Kusile faults, and money lost during state capture. The other perennial problem, perhaps...

May 25, 2020
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22May

Coronavirus and Older Adults: A Highly Vulnerable Group

By María Laura Oliveri Older adults are among the largest groups at risk for the coronavirus and they have the highest fatality rate in several countries. Learn about the resources and materials that we offer to guide caregiving and public policy on aging and long-term care in countries in the region. Nursing Homes: Dangerous Infection Hotspots Since the outbreak of the coronavirus epidemic, it has been confirmed that older adults are the most vulnerable age group. They are...

May 22, 2020
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22May

US pension funds approach point of no return

The issues facing public pension funds in the US are widely known, and while it's not clear how exposed to the recent market correction funds were, analysis from Wirepoints of 2018 data shows some may have reached the point of no return. Looking at asset-to-payout ratios of 148 state and local pension funds with more than US$2 billion in assets, the worst-off funds are those that are already well known for their pension shortfalls. These are in Kentucky, Illinois,...

May 22, 2020
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22May

The Economic Commission for Latin America and the Caribbean proposes Universal Basic Income

The Economic Commission for Latin America and the Caribbean, a regional organism of the United Nations Secretariat has declared itself in favour of a new regime of welfare and social protection that includes the gradual, progressive and sustained establishment of universal basic income in the region of Latin America and the Caribbean. Read also World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus) On May 12th, its executive secretary, Alicia Bárcena, presented the 3rd Special Report COVID-19:...

May 22, 2020
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