September 2021
20Sep

The Golden Paper to Fix Pension Systems in MENA Region

By Ebrahim K Ebrahim All Arab countries, except for three, have deficits in their pension funds exceeding 50%. As for the three countries, two of them started their social insurance relatively late and the third one had to significantly recapitalize its fund early last decade. Likewise, these three countries are not immune from deficits of similar proportions during the next two decades if they end up doing the same thing. Up until now, there is one thing all Arab countries...

September 20, 2021
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06Sep

Biggest funds increase 11.5% to hit $21.7 trillion in 2020

Assets of the world's 300 largest retirement funds increased 11.5% to $21.72 trillion in 2020, despite the effects of the coronavirus pandemic that ravaged stock markets and economies in the first half of the year, according to the latest annual survey by Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute. Read also Sweden. AP2 continues sustainability journey with stellar returns and costs The top funds' assets also grew at a faster rate than a year earlier, when they...

September 6, 2021
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06Sep

Nigerian pension fund asset rises to N12.8 trillion as RSA contributors hits 9.4 million

Nigeria’s total pension asset value rose by N123.47 billion in July 2021 to close at N12.78 trillion compared to N12.66 trillion recorded in the previous month. This is contained in the pension funds industry report for the review month as released by the National Pension Commission. According to the report, the net asset value of Nigeria’s pensions fund recorded a 0.98% increase in the month of July 2021, while 22,349 RSA registrations were recorded in the same month increasing total...

September 6, 2021
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03Sep

UK. Pension contributions hold up well despite Covid

Workers kept up with payments into their pension funds last year, confounding fears that many people might scrap or cut their contributions because of pandemic pressures, according to government data. Annual savings from eligible savers rose to £105.9bn, from £100.4bn in 2019, said the Department of Work and Pensions in a report on Thursday. That extends the increases posted since 2012, following the introduction of auto-enrolment into work-based pension schemes to boost retirement saving. The DWP said a fall in employee...

September 3, 2021
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03Sep

Why pensions engagement can’t wait for your retirement

Prospect pensions officer Stewart Mott looks ahead to the events that Prospect will be holding to mark Pensions Awareness Day later this month and explains why, even though your retirement might seem far off, it is still important that you start engaging with your pension now. It’s easy to neglect our pensions, we save for retirement over many years, and often don’t have a reason to engage with our pension unless we are moving to a new employer. Pension Awareness Day...

September 3, 2021
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August 2021
26Aug

A New Look at Racial Disparities Using a More Comprehensive Wealth Measure

By Alice Henriques Volz & Jeffrey P. Thompson Most research measuring disparities in wealth by race relies on data that exclude resources that are disproportionately important to low-wealth and non-white families, namely defined benefit (DB) pensions and Social Security. This paper finds that once these resources are included, disparities in wealth between white families and Black and Hispanic families are substantially smaller and that they are not rising over time. The powerful equalizing roles of DB pensions and Social Security...

August 26, 2021
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24Aug

US. Despite the pandemic, 401(k) balances and savings rates are higher than ever

Even with climbing Covid-19 case numbers and ever-increasing inflation, employed retirement savers have been socking away record amounts of cash in their retirement investment accounts. Average 401(k) account balances and savings rates reached record highs in the second quarter of 2021, according to Fidelity Investments, the nation’s largest provider of 401(k) plans, marking three quarters of upward growth in a row. Another positive sign for savers’ finances: The number of outstanding 401(k) loans also decreased. At the start of the coronavirus pandemic,...

August 24, 2021
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19Aug

Mega-IRAs, Boon or a Bane?

By Albert Feuer Peter Thiel reportedly converted a 1999 Roth IRA investment of $1,700 in PayPal “founder’s shares,” into assets that appeared to be worth $7 billion on June 30, 2021. There are serious questions whether this IRA and other Mega-IRAs are entitled to the IRA tax benefits. The IRS should have the resources to challenge the tax exemption of any Mega-IRAs appearing to violate the current law. These Mega-IRAs will disappear when the IRS prevails. There should also be...

August 19, 2021
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12Aug

45% of Singaporeans surveyed have not started planning for retirement

This was more apparent in the younger demographic (aged below 35), a survey has noted. Reasons include: 20% of plan to rely on their spouse or family members for it, and 61% are confident they will have sufficient funds for it. More details here. One in three Singaporeans (39%) are worried they will not have enough funds for retirement, yet not many are acting on it, a recent report by Endowus has found. In particular, this was seen more in respondents...

August 12, 2021
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11Aug

US. Pandemic Puts Secure Retirement at Greater Risk for Many

The COVID-19 pandemic has had an outsize effect on people 50 and older: Not only did it impact older adults’ health more severely than younger ones, but it also forced many into early retirement and prompted others to take withdrawals from their savings earlier than they had planned. "The prospects of a secure retirement for millions of workers will be even more precarious following the pandemic, and more Americans of all ages will need to rely even more on Social...

August 11, 2021
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