July 2021
29Jul

US. Financial Groups, Firms Push for a Biden Order on Retirement Security

Financial services firms and policy groups are urging President Joe Biden to issue an executive order to create an inter-agency task force on retirement security as part of his Build Back Better initiative. “Social Security and Medicare face financing shortfalls, while pension plans have largely disappeared for younger workers,” the 31 organizations, all partners in the Funding Our Future coalition, told Biden in a letter, released Wednesday. Read also US. Ohio Pensioners May Hold The Key To Finally Fixing America’s Struggling...

July 29, 2021
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28Jul

Can Climate Change Impact Your Retirement?

Recent fires, floods, and extreme heat events are demonstrating that climate change is here—now—not some day in the distant future. How could that realization impact your retirement plans? Any concern you might feel about climate change could depend in part on your age. A recent survey conducted by the Society of Actuaries (SOA), titled “Financial Perspectives on Aging and Retirement Across the Generations,” takes a deeper look into the topic and provides insights into how different generations view the importance...

July 28, 2021
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27Jul

China pensions starved of alternatives to stabilise returns

By Twinkle Zhou Experts warn that Beijing must take even speedier action to help its rapidly aging population save enough for retirement. In particular, the country’s regulators need to diversify the range of assets available for local pension funds into more alternative assets, to help them ensure more consistently high annual investment returns. Read also China to allow tax deductions for care of small children to help boost births Pension experts say the government and regulators do not lack for areas they...

July 27, 2021
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27Jul

Average German pension has risen 34 percent in 10 years

Average pensions in Germany have increased significantly over the past 10 years, RND reports, citing figures from the Deutsche Rentenversicherung. Accordingly, 10 years ago, newly-retired people who had contributed to social security for at least 35 years received an average of 962 euros per month. Most recently in 2020, someone entering retirement who had contributed for the same length of time received an average of 1.290 euros per month - 34 percent more than in 2010. In the western federal...

July 27, 2021
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27Jul

Japan´s EPSF plots to build a financial system that supports sustainability

Prime Minister Yoshihide Suga announced Japan’s aims for carbon neutrality and substantially zero CO2 emissions by 2050, in his October 2020 policy speech. He also announced at the climate change summit held in April 2021 that Japan aims to reduce its greenhouse gas emissions by 46% in FY2030 from its FY2013 levels. In order to achieve these types of environmental goals, many major countries consider that large scale of private funds would be required for the transition towards such new...

July 27, 2021
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23Jul

UK. Can CDCs solve the pension funding problem?

Defined-benefit (DB) pension schemes have been in decline for years and in most professions younger employees are offered defined-contribution (DC) schemes, which lack many of the former's benefits. But a new option aims to deliver the best of both types of pensions. This week, the government has issued a consultation on draft legislation for Collective Defined Contribution (CDC) Schemes, spurred on by Royal Mail (RMG) which had been lobbying for new legislation to accommodate CDCs since 2018. CDC pensions work by...

July 23, 2021
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13Jul

Nigeria. Avoiding A Future Of Retired Destitute

NIGERIA’S Population has grown from 45.1 million in 1960 to the current 211.4 in 2021. By the United Nations estimates, the population grew by 2.5 per cent from its 2020 figure. Read also Jamaica. Dead or alive? Pension payments continue And according to National Bureau of Statistics (NBS), 33 per cent of those within the workforce who were willing and looking for job were unemployed as at the close of 2020. According to the International Monetary Fund (IMF), the informal sector...

July 13, 2021
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09Jul

UK. Chancellor Rishi Sunak hints at ruling out 8% pension rise

The chancellor has given his strongest indication yet of ruling out a predicted 8% rise in the state pension next year. Official forecasts suggest that the link with earnings growth could mean the bumper rise in the amount paid from April 2022. Rishi Sunak told the BBC a decision on pensions would be "based on fairness for pensioners and for taxpayers". Various commentators have called for an overhaul of the rules. However, groups representing older people say the government's promises to pensioners should...

July 9, 2021
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08Jul

The slow-burn crisis inside Ukraine’s pension system

Adramatic situation with state pension provision is unfolding in Ukraine. In autumn last year, Ukrainian prime minister Denys Shmyhal stated that if “decisive measures” are not taken, then in 15 years the state will not be able to pay pensions. With the collapse of the Soviet Union, Ukraine inherited a so-called “solidarity pension system”: current pensioners are supposed to receive payments from pension contributions made by the working population. However, today the number of people employed in the Ukrainian economy...

July 8, 2021
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08Jul

ESG: Fad or Future?

The trend over recent years is impossible to ignore: ESG investing has been gathering steam. There have been record flows into ESG investments, companies in ESG sectors have registered impressive valuations and thousands of asset managers and owners have signed on to the UN Principles For Responsible Investment (PRI). Environmental sectors are outstripping growth in the overall economy and ESG-focused funds are outperforming their counterparts. There is a convergence of driving factors that already point to this being more...

July 8, 2021
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