admin, Author at Pension Policy International

14JulJuly 14, 2020

UK. Proposed Legislation for Losses from COVID-19 and Limitations on the Retroactive Impairment of Contracts

The COVID-19 pandemic has caused most businesses to temporarily close and, as a result, sustain significant losses. Various states are contemplating the passage of legislation to require carriers to cover claims arising from COVID-19, but case law regarding the constitutionality of such legislation is conflicting. Depending on the facts surrounding retroactive legislation, states may be able to pass an enforceable law leading to coverage. Pennsylvania’s Proposed Legislation for Business Interruption Losses Pennsylvania is one of many states that has...

July 14, 2020

News, Slider2020, COVID-19, UK

13JulJuly 13, 2020

Older South Africans are taking their wealth and pensions offshore

In the current precarious economic climate, South African residents over age 55, who invested in retirement annuities (RAs), preservation funds or pensions, are increasingly transferring their investments to living annuities with offshore equity exposure. Read also Greece’s supreme court rules for reimbursement of pension cuts Claudia Mendes, international financial planner at Sable International, considers the argument for going offshore. South African residents find themselves investing in a country that has a concentration of resource stocks and a volatile currency. With...

July 13, 2020

News, Slider2020, Africa, Income, Investment, South Africa

13JulJuly 13, 2020

Australia. Low income earners get further support

Millions of Australians on pensions and low incomes are about to get cash hits from the government, which it hopes will give another boost to the coronavirus-hit economy. The second round of $750 payments for pensioners, veterans and carers will start going into people's bank accounts from Monday. It goes to about five million Australians at a cost of $3.8 billion. Treasurer Josh Frydenberg anticipates many will spend the money on everyday expenses like groceries, rent and bills. "This...

July 13, 2020

News, Slider2020, Australia, Coronavirus, COVID-19, Social Protection

13JulJuly 13, 2020

US. Public pension funds in an era of low rates and COVID-19

What is the most prudent strategy for state and local governments confronting low returns on pension investments, aging workforces, and pressure to build portfolios large enough to cover promised future benefits at the same time that these governments face other pressing demands? Presentations at the 2020 Municipal Finance Conference provide contrasting answers to this question. Louise Sheiner and Finn Schuele of the Hutchins Center at Brookings with co-authors Byron Lutz of the Federal Reserve Board and...

July 13, 2020

News, Slider2020, Coronavirus, COVID-19, Public Pensions, US

10JulJuly 10, 2020

Age with Care: Long-term Care in Latin America and the Caribbean

By Gianluca Cafagna, Natalia Aranco, Pablo Ibarrarán, María Laura Oliveri, Nadin Medellin, Marco Stampini In Latin America and the Caribbean, more than 8 million older people are unable to independently complete at least one basic activity of daily living, such as eating, bathing or showering, or getting in and out of bed. This situation, called care dependence, affects 12% of people over age 60 and nearly 27% of people over age 80 in the region. The demand for long-term...

July 10, 2020

Aging, Books2019, Labor Market, Latin America, Social Security

10JulJuly 10, 2020

Society at a Glance

By OECD The OECD biennial report providing internationally comparable data on demography and family characteristics, employment and wealth, mobility and housing, health status, social expenditure, subjective well-being, social cohesion, and other social measures. Included are such interesting variables as suicides, child care costs, prisoners, gender wage gaps, poverty and mothers in employment. Get the book here

July 10, 2020

Aging, Books, Labor Market2019, Social Protection, Social Security

10JulJuly 10, 2020

Financial System Requirements for Successful Pension Reform

By David P. Blake This paper examines the financial system prerequisites needed for the successful delivery of funded private pensions. In particular, it examines the financial instruments and investment strategies required during both the accumulation and decumulation stages. It does so within the context of a specific developed economy with a mature pension system, namely the United Kingdom. The lessons learned can help to inform the debate in developing countries that are in the process of undertaking pension reform....

July 10, 2020

Articles, Pension design, System Sustainability2003, Europe, Pension Reform, UK

10JulJuly 10, 2020

Understanding the Greater Diffusion of Mobile Money Innovations in Africa

By Simplice Asongu, Nicholas Biekpe, Danny Cassimon The present research extends Lashitew, van Tulder and Liasse (2019, RP) in order to understand the greater diffusion of mobile money innovations in Africa. To make this assessment, a comparative analysis is engaged between sampled African countries and the corresponding sampled developing countries. Three main types of predictor groups are used for the study, namely: demand, supply and macro-level factors. The empirical evidence is based on Tobit regressions. The tested hypothesis is...

July 10, 2020

Articles, Labor Market2020, Africa, Financial Inclusion, Informal Sector

10JulJuly 10, 2020

Environmental Concerns and Financial Performance: Evidence from the EU Regulatory Framework

By Ricardo Correia, Carmen Mendoza, Nuria Suárez We analyze the impact of carbon and greenhouse gas emissions on firms’ accounting and market performance. Over a sample of 115 non-financial firms from 9 European countries during the 2008-2016 period, our results suggest that higher volume of both country-level carbon and greenhouse emissions have, on average, a positive and statistically significant impact on firms’ accounting performance. However, no statistical effect is found in terms of stock market performance. The results are...

July 10, 2020

Articles, ESG, Investment, Regulation2020, Climate crisis, Europe, Pension Management

10JulJuly 10, 2020

The big reforms that could boost retiree incomes by 30 per cent

Retiree incomes could increase by as much as 30 per cent if superannuation funds were forced to offer ‘longevity-based’ products, the Actuaries Institute has claimed. In a new paper released on Thursday, the peak professional body said Australian retirement incomes would be significantly boosted through the compulsory use of ‘longevity risk’ managing products. Read also Does early access to pension funds improve health? These products, such as lifetime annuities, are intended to provide a stable, regular income to retirees for...

July 10, 2020

News, Slider2020, Australia, Pension Management

July 2020