September 2020

22Sep

Beijing Taking Measures To Address China’s Upcoming Retirement Savings Deficit

China has been leveraging the domestic interest rate as an integral part of its monetary policy since the opening up of the bond market in 2019, increasingly allowing international investors to hold municipal bonds. Read also Canada. OSFI launches discussion on tech risks to pensions, other federal financial institutions Further into its liberalization of the market, China also allowed foreign capital to play a part in its funds market from earlier this year. Read also Switzerland. Credit Suisse pension...

September 22, 2020
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22Sep

Japan’s new PM could seek to improve GPIF oversight

Japan’s newly elected prime minister Yoshihide Suga may seek to form an independent board to oversee the Government Pension Investment Fund (GPIF). However, experts said that it may not happen at least until his re-election in October next year. Read also Japan proposal on contribution limits could hurt The debate about whether the GPIF should have an independent board instead of coming under the oversight of the Ministry of Health, Labour and Welfare (MHLW) started several years ago, with many...

September 22, 2020
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22Sep

Canada. OSFI launches discussion on tech risks to pensions, other federal financial institutions

The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks and other considerations regarding technological advancements impacting Canada’s financial sector. Along with a discussion paper, the consultation’s objective is to ensure federally regulated financial institutions and pension plans have solid strategies to manage non-financial risks. According to the agency, while rapidly advancing technology and digitization have been helpful to Canadian financial institutions, their swift adoption can be risky if not properly managed and understood....

September 22, 2020
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22Sep

UK. Pensions Gender Gap: How Can We Fight Future Financial Shortfall of Women

Women are being urged to think about their long term savings as research reveals almost five million females in the UK over the age of 50 think they won't have enough to live on in retirement. The figures are from a report – Finances after 50 – published by financial services provider SunLife. It comes as a group of women recently failed in a high court appeal to claim compensation for lost State pension income as a result of...

September 22, 2020
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21Sep

New pension law proposed for South Africa

The Democratic Alliance (DA) has called for comment on its proposed Private Member’s Bill (PMB) to amend the Pension Funds Act. Read also It’s too early to panic over plans for South African pensions: asset managers The bill aims to amend the current Pension Funds Act to enable pension fund members to access a percentage of their pension fund before retirement as a guarantee for a loan. Read also Ghana: Press highlights plight of pensioners, removal of 7,000 ‘ghost’ names...

September 21, 2020
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21Sep

Japan proposal on contribution limits could hurt

Japan's regulators are moving to put "fairer" contribution limits for corporate defined contribution plans in place this year but analysts warn their proposed changes could just as easily shrink Japan's DC market as expand it. Along the way, some of Japan's biggest corporate plan sponsors could be forced to restructure the mix of DC and defined benefit retirement plans they offer to employees. At issue are current rules that mandate across-the-board reductions in DC contribution ceilings for companies that...

September 21, 2020
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21Sep

UK. Platform giants join firms in pension switching call

latform giants Hargreaves Lansdown and Aegon are among 67 firms to join an initiative calling for greater standards in pension switching. The partnership between Criterion and TeX, under the brand of Star, is working on a transfers & re-registration initiative which it hopes will shape "recognised, industry-wide standards to promote good practice in transfers". Fidelity and Standard Life have also petitioned their fund groups to support the campaign. Andrew Marker, chairman of the Star steering group and...

September 21, 2020
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21Sep

Romania. The Evolution of the Private Pensions Market in the First Six Months of the Year 2020

The value of the total assets under management, at the level of the entire private pensions system, has reached the amount of 68.57 billion RON, at the date of 30.06.2020, exceeding in Euro equivalent the value of 14 billion, increasing by 6.31%, as compared to December, 2019. Moreover, the share of private pensions in the Gross Domestic Product[1], at the end of June, 2020, was of 6.39%, above the level of December, 2019. 'The economic context in the first...

September 21, 2020
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18Sep

Perú. Un futuro previsional sin vacuna

Por Giorgio Falcón Cangahuala El autor en el presente artículo, analiza los proyectos de ley, sobre el retiro del 100% de los fondos de pensiones por los afiliados a una Administradora de Fondo de Pensiones (AFP); parte por el rol del Estado en relación con el Sistema Privado de Pensiones a través del derecho a la Seguridad Social, su responsabilidad ante los ciudadanos y la comunidad internacional; seguido por el análisis de los principios y derechos vulnerados que generan su...

September 18, 2020
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18Sep

India. More pension fund managers by December, expense ratio to be relooked: PFRDA

Soon, National Pension System (NPS) subscribers could have a longer list of fund managers to choose from for managing their voluntary retirement contributions. “We will be coming out with our RFP (request for proposal) in another 2-2.5 months. So, by December, the RFP should be out. Everyone is welcome to come and manage it. It will not be restrictive (in terms of numbers), but there will be entry barriers to ensure only serious players come in,” said Supratim Bandyopadhyay,...

September 18, 2020
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