August 2020

06Aug

Netherlands, Denmark, Australia Rated World’s Top Pension Systems

The Netherlands, Denmark, and Australia were ranked as the top three pension systems by country, according to a report from Visual Capitalist. Meanwhile, Thailand, Argentina, and Turkey were ranked the worst. Read also Young Australians are raiding their super. What does this mean for their future? Rounding out the top 10 systems were Finland, Sweden, Norway, Singapore, New Zealand, Canada, and Chile. The United States ranked 17th. Read also India. Panel on labour suggests social protection for informal workers The report...

August 6, 2020
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05Aug

Retirement anxiety heightened by COVID-19

The song “You Can’t Always Get What You Want” describes how people feel about retirement these days. That’s the song chosen by nearly half of the respondents in a survey released on July 29 by the Alliance for Lifetime Income, a nonprofit educating Americans about protected lifetime income in retirement. Most people surveyed (7 out of 10) say “the pandemic has made them more pessimistic about their retirement plans” (with 63% being somewhat more pessimistic and 7% much more...

August 5, 2020
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July 2020

29Jul

Latin America private pension systems ‘constantly under political threat’: FIAP

A private pension fund industry chief said the specter of political interference is constantly circling the sector in Latin America. Decisions correspond more to ideological bias of “certain political groups” than the advice of pension experts, a webcast hosted by industry organization the International Federation of Pension Funds Administrators (FIAP) was told. “The private pension systems in our region are constantly under political threat,” said FIAP chairman Guillermo Arthur Errázuriz. He cited the example of Chile, where some quarters...

July 29, 2020
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23Jul

World Bank makes recommendations to improve pensions coverage in Ghana

“If a new or existing informal sector scheme is given sole responsibility for covering the cocoa farmers, economies of scale could be achieved. This will allow outreach to other groups of informal sector workers in a financially viable manner”, the World Bank asserted in its pensions coverage in the informal sector Africa report for 2019. However the World Bank report indicated that the coverage of the elderly through contributory pension schemes is not expected to improve. But the state...

July 23, 2020
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21Jul

Puerto Rico announces referendum to protect public pensions

Puerto Rico’s governor announced Monday that she plans to hold a referendum on whether public pension payments should be protected by the U.S. territory’s Constitution for the first time in the island’s history. If approved, the measure would prohibit using money from Puerto Rico’s crumbling public pension system to repay creditors — challenging efforts by the federal control board overseeing the island’s finances to make pensioners share the pain with investors in a restructuring of part of the island’s...

July 21, 2020
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15Jul

India. National Pension System: Why NPS is an important investment tool for retirement planning

The National Pension System (NPS) is considered one of the best investment tools for retirement planning in India. Investments in NPS are largely focused on generating funds for the retirement of investors as well as giving them a pension. NPS also provides the benefit of tax-saving. This scheme is especially for self-employed professionals, those working in the unorganized sector. You can invest in NPS through two options – auto and active choice. These decide the asset allocation of your...

July 15, 2020
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June 2020

12Jun

UK Pension Market Report 2020

By Research and Markets In 2019, UK pension funds received total contributions of £241 billion, representing a 10% rise over the level of 2018. In 2019, contributions to workplace pensions represented 70% of total contributions and this is expected to rise to 71% in 2020. In 2019, the publisher estimates that 2.4 million new pension products were sold to members of the public. In 2019, just over 21 million employees in the UK had a workplace pension with most of...

June 12, 2020
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12Jun

World’s Worst Stock Market Risks More Pain From Pension Selling

The world’s worst-performing stock market this year is at risk of an even steeper drop from a proposal to let Colombians tap pension savings during the coronavirus crisis. The government has held talks with private pension funds regarding an “important proposal” that would allow workers to draw down their retirement accounts, Finance Minister Alberto Carrasquilla told lawmakers Wednesday. The government has made “advances” on the issue, though hasn’t reached a decision, Carrasquilla said. The plan would likely need congressional...

June 12, 2020
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10Jun

World economy to contract at least 6% in 2020: OECD

The global economy will contract at least six percent this year, with the unprecedented loss of income and "extraordinary uncertainty" caused by measures to contain the coronavirus outbreak, the OECD said Wednesday. Read also Virus Exposes ‘Systemic Risk’ in Australia Pensions Industry In the case of a second wave of contagion later in the year, economic output could shrink by as much as 7.6%, it warned. In both scenarios, recovery will be "slow and uncertain". Read also World’s Worst Stock...

June 10, 2020
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05Jun

An Introduction to Pensionomics

By Mario Arturo Ruiz Estrada, Evangelos Koutronas Purpose – The purpose of this paper is to explore the concept of pensionomics as a prospective tool for pension evaluation. This paper suggests a paradigm shift – a multi-disciplinary synthesis of differing perspectives in evaluating pension’s overall performance based on past work on pension evaluation – incorporating non-economic variables with significant impact on economic growth and social development. Design/methodology/approach – This paper suggests a new analytical tool called “Pensions Consistency (PC)...

June 5, 2020
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