November 2019

29Nov

The Future of Pension Plans in the EU Internal Market: Coping with Trade-Offs Between Social Rights and Capital Markets

By Nazaré da Costa Cabral, Nuno Cunha Rodrigues This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level...

November 29, 2019
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15Nov

Severe $15.8 trillion pension crisis looms worldwide

The U.S., China and other leading economies confront a massive funding gap of $15.8 trillion in 2050 to ensure lifetime financial support for their aging populations. Read also Latin Americans Are Clamoring for Equality — and Democracy That’s according to a report spearheaded by former U.K. Financial Services Authority Chairman Adair Turner for the prestigious Group of 30, comprised of current and former policy makers. Read also US. Pensions Venture Into Risky Corners of the Market in Hunt for Returns “If...

November 15, 2019
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11Nov

Poland Approves Plans to Overhaul Pension System

Poland is moving its state-guaranteed private pension benefits to IRA-like accounts. The shift is designed to trim the Polish government’s liabilities and save $5 billion thanks to reduced retirement outlays. The government-backed private system, called OFE, is valued at about $43 billion. Private pension funds are owned and run by firms like MetLife, NN Group, and Aviva. The government is transferring assets to fill a budget gap and minimize uncertainty. Poles’ private pension money will be moved to the...

November 11, 2019
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07Nov

Ireland. Quarter of people ‘can’t afford’ to save for retirement

Concern about cost is the main factor holding people back from starting a pension. Other factors include the expense of raising a family, with people also stating they feel they are too young to save for retirement, according to research commissioned by Bank of Ireland. It comes as the Government has firmed up some of the detail on a new auto-enrolment pension to be launched for around 600,000 workers from 2022. Some six out of 10 workers in the...

November 7, 2019
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06Nov

Palestine- The EU contributes €16.5 million to the PA payment of October salaries and pensions

The European Union has made today a contribution of €16.5 million to the payment of October salaries and pensions of more than 40,000 Palestinian civil servants and pensioners in the West Bank. This contribution is funded by the European Union as part of its Direct Financial Support to the Palestinian Authority channelled through PEGASE[1]. "The European Union continues to make significant contributions to the Palestinian Authority budget to help pay the salaries of civil servants and pensioners. We are...

November 6, 2019
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October 2019

25Oct

Ireland. Defusing the pension time bomb

The Government’s recently published “National Risk Assessment 2019” identified Ireland’s rapidly-ageing population as a significant risk to a number of essential areas. There is talk from some quarters that the State pension will eventually disappear due to rising costs. Is this simply scaremongering from those with skin in the game, or should people be fearfu for the future of a cherished benefit? Aisling Kelly, senior healthcare consultant at Mercer, says she is not of the opinion that the State...

October 25, 2019
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24Oct

Five Ways to Improve Retirement Security in the U.S.

Given the fact that nearly half of households headed by someone age 55 or older have no retirement savings and that one estimate puts the median retirement account balance across all savers at $40,000, the Aspen Institute Financial Security Program convened its third annual Leadership Forum on Retirement Savings. More than 70 experts and industry leaders explored feasible solutions over the course of two days. By Forum’s end, participants had identified five ideas most ready for advancement. The first...

October 24, 2019
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23Oct

What Does It Take To Build The World’s Best Pension Systems? Ask The Netherlands And Denmark

By Elizabeth Bauer The Melbourne Mercer Global Pension Index 2019 edition has been published, and the United States has been given a rank of C+ in this comparison of pension systems of 37 rich and middle-income countries, with a score of 60.6, slightly above the average of 59.3. Also in the C+ category were the UK and France; among the C countries were Spain, Austria and Italy; B countires included Canada, Ireland, and Germany. Which countries were at...

October 23, 2019
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21Oct

These are the world’s best (and worst) pension systems

The Netherlands and Denmark have the best pensions systems in the world, according to a global study that shines a light on how nations are preparing ageing populations for retirement. Read also What Does It Take To Build The World’s Best Pension Systems? Ask The Netherlands And Denmark The countries took the top two slots in the Melbourne Mercer Global Pensions Index published on Monday, both earning an A grade for the level of financial security provided in...

October 21, 2019
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18Oct

Asia behind in sustainable investments, but attitudes are changing, industry leaders say

Asia lags behind Europe and other regions in constructing investment portfolios that consider environmental and social factors along with returns, despite rising demand for such products among investors globally, according to industry leaders. But, that is beginning to change as more and more funds are shifting to so-called environmental, social and governance (ESG) strategies in Japan, and China will require listed companies and bond issuers to disclose environmental and social risks in their businesses beginning in 2020, they said....

October 18, 2019
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