May 2021
14May

Australia Considers Paying Pensions on Parental Leave Program

Australia could chip into the pension funds of eligible workers who take up its 18 weeks of paid parental leave, just not yet, amid criticism the government isn’t doing enough to ensure women are financially secure in retirement. The policy was changed last year to also pay fathers to take time out of the workforce to help raise kids, however it hasn’t yet had time to “manifest,” Jane Hume, minister for superannuation and newly-installed minister for women’s economic security, told...

May 14, 2021
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April 2021
09Apr

The Potential Financial Silver Lining of the Pandemic

To say the last year has been unprecedented might be the understatement of the century. It is hard to imagine anyone who has not been impacted in some manner, some far more than others, by the pandemic. Personal finances are no exception as the volatility of the past year remains front and center for many despite recent market recovery. However, something interesting is happening. Many people are doing what their financial professionals have been asking them to do since their...

April 9, 2021
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08Apr

Engaging young people to tackle the pensions and climate crises

They may well have checked their bank accounts on their phone in the last 24 hours, but I bet they haven’t checked their pension online. Perhaps they can’t do that, even if they wanted to. The fact is that for the majority of people pensions just don’t feature in their everyday thinking and they’re certainly not viewed as an issue to worry about – especially if you’re young. The economy (52%), health (46%) and the environment (40%) are the three...

April 8, 2021
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07Apr

UK. Pension communications ‘failing to engage’ more women than men

The FCA's Financial Lives research revealed 60% of women are unaware of the charges on their defined contribution (DC) pension compared to 44% of men, while 57% of women have not reviewed how much their pension is worth in the last 12 months compared to 46% of men. Additionally, 14% of women admitted they do not read their annual statement, more than double the 6% of men who do not read it. More than half of women (53%) did not choose...

April 7, 2021
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March 2021
25Mar

Nigeria. Workers withdrew N1.01bn pension savings in Q4 2020 –PenCom

The Contributory Pension Scheme (CPS) witnessed the withdrawal of N1.01 billion by 924 workers from the voluntary contributions in their Retirement Savings Accounts (RSAs) with their Pension Fund Administrators (PFAs) in the fourth quarter of 2020. Read also Pensions savings can fund Africa eco-plans The National Pension Commission (PenCom), disclosed this in its 2020 fourth quarter report. Read also Chile begins debate on third pension withdrawal amid second wave of the pandemic According to the guidelines on voluntary contribution under the CPS, PenCom...

March 25, 2021
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19Mar

US. $35 Trillion in Retirement Savings Tells a Tale of Two Economies

New data published by the Investment Company Institute (ICI) shows total U.S. retirement assets grew to $34.9 trillion as of December 31, which is up 7.5% from the end of the third quarter of the year and up 9.3% overall for last year. With such strong growth for the year, the ICI reports, retirement assets accounted for a third of all household financial assets in the United States at the end of December. The ICI update shows that assets in...

March 19, 2021
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18Mar

Too much, or not enough: the risks of drawdown

For many people approaching retirement, there is a sense of dread when it comes to navigating the rules about accessing their pensions. Pension drawdown has grown in popularity since 2015. It enables savers to take a tax-free lump sum from their defined contribution pension, but keep the remainder of the money invested to provide an income during retirement. Currently, three times the number of savers are opting for drawdown plans than those who are buying annuities, according to the Financial Conduct...

March 18, 2021
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17Mar

Virus exacts toll on women’s retirement savings, workplace diversity efforts – panel

The issues facing women in saving for retirement dominated discussions at Pensions & Investments' Defined Contribution Spring Virtual Series held March 8-11. With the pandemic bringing those issues into sharp relief, talk centered on the "shecession," a reference to the COVID-19-triggered exodus of women from the workforce as they wrestled with the lack of child care options. During a panel discussion on the first day of the conference, which coincided with International Women's Day, speakers lamented the departure of women from...

March 17, 2021
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11Mar

Pension Trends for Executives in FTSE 350 & SmallCap Companies 2020

By e-reward.co.uk In this research, we outline: How contribution rates vary across the UK’s three main indices. The level of contribution rates paid to the majority of staff in the UK’s largest companies. Some of the approaches that individual companies have followed to reduce the pensions of their new and existing directors. Our data is sourced from over 1,200 annual reports published between September 2017 and 2020 from companies listed on the FTSE 100, mid-250 and SmallCap indices. This data represents...

March 11, 2021
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11Mar

Pension Information and Women’s Awareness

By Marta Angelici, Daniela Del Boca, Noemi Oggero, Paola Profeta, Maria Christina Rossi, Claudia Villosio We explore the role of financial and pension information in increasing women’s knowledge and awareness of their future pension status, and consequently, in reducing the gender pension gap. A representative sample of 1249 Italian working women were interviewed to assess their knowledge about pensions and financial issues and about their own savings and personal wealth planned for retirement. The responses showed that their knowledge and...

March 11, 2021
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