June 2020
23Jun

UK. Long-awaited pensions dashboard enters next phase

The Money and Pension Service (MaPS) has announced that the Pensions Dashboard Programme (PDP) has moved into the next stage of the building process. The new platform will enable people to view all their pensions in one place, with the PDP having the responsibility to design and implement the new technology. Today marks the start of six weeks of “informal market engagement” which will enable the PDP to evaluate the efficiency and capacity of potential firms who could supply...

June 23, 2020
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23Jun

Impact of COVID-19 on the FinTech Industry

In a matter of months, the COVID-19 pandemic has forever changed our world. What started as a global standstill is quickly turning into a race to adapt as new data pours in, and we get a better vision of our new reality. With global productivity still in recovery, we are facing an unprecedented economic downturn that will impact the financial stability of individuals and businesses for months and even years to come. Though short-term recovery plans will enable many...

June 23, 2020
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22Jun

Propuesta de reforma del CCE al sistema de pensiones, con 90% de avance: Arturo Herrera

El secretario de Hacienda y Crédito Público, Arturo Herrera, informó que la propuesta de reforma al sistema de pensiones que se trabaja con el Consejo Coordinador Empresarial (CCE) tiene un avance de 90 por ciento. El funcionario afirmó que, “con mucha discreción”, se mantiene el trabajo con los empresarios, que desde principios de año le habían presentado una propuesta (de reforma) a las pensiones. Durante una reunión virtual con los integrantes de la Confederación de Cámaras de Comercio...

June 22, 2020
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22Jun

UK. TPR urged to nudge savers back into pensions

Employees who have opted out of their workplace pension during the coronavirus crisis should be encouraged back into saving more quickly than usual, MPs have said. Read also UK. Key workers being targeted by pension transfer scammers – APJ The Work and Pensions committee urged the Pensions Regulator (TPR) to consider helping such workers re-enrol sooner than the current three-year timeframe under auto-enrolment rules. Read also India. Govt may restrict foreign investment in pension funds The committee believes this is important...

June 22, 2020
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22Jun

India. Govt may restrict foreign investment in pension funds

Amid LAC tension, the Finance Ministry has proposed restrictions on pension fund investments from any bordering country. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority is capped at 49 per cent under the automatic route. According to a draft notification circulated for comments on Friday, “A government approval would be required for the investing entity or individual from any of the bordering countries, including China.” The restriction will be applicable from the date...

June 22, 2020
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22Jun

Norway’s Ageing Population Problem

Right now, the biggest problem faced by Norway is the necessary transition away from the oil and gas industry. The country's economy has been fuelled by the deposits under the Norwegian continental shelf for decades. With reservoirs running dry, the economy needs to diversify. But with investment in modern technologies such as electric battery and charging infrastructure, offshore wind, and autonomous shipping, Norway's government does at least have a plan. The same can't be said, yet, for the problem...

June 22, 2020
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22Jun

Lawmakers Offer Help to Japanese Banks Battling Fintech Firms

Japanese ruling-party lawmakers are looking to make it easier for banks to expand into different industries, a step that could help traditional lenders push back against tech rivals. The Liberal Democratic Party’s financial policy research panel wants to amend the banking law next year to relax limits on lenders’ lines of business as well as their investments in non-financial firms. The proposal, released last week, didn’t specify which areas banks might be allowed to enter. Japan’s government has been...

June 22, 2020
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20Jun

Journal of Pension Economics & Finance

By: Monika Bütler, Olivia S. Mitchell, J. Michael Orszag. The Journal of Pension Economics and Finance (JPEF) is the only academic journal focusing on the economics and finance of pensions and retirement income. The ageing population, together with the shrinking workforce, heralds a growing pensions crisis, which has become a key public policy issue in developed countries and elsewhere. JPEF provides a valuable and influential forum for international debate in this area. The journal is co-sponsored by the International Organisation of Pension Supervisors...

June 20, 2020
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20Jun

COVID-19: The Regulatory and Supervisory Implications for the Banking Sector : A Joint IMF-World Bank Staff Position Note

By: International Monetary Fund. Monetary and Capital Markets Department ; World Bank. This joint IMF-World Bank note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 pandemic and offers an overview of measures taken across jurisdictions to date. Read the complete book here

June 20, 2020
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20Jun

Delivering DC? Barriers to Participation in the Company-Sponsored Pensions Market

By: Debbie Harrison, Alistair Byrne, David P. Blake. The report shows that pension providers and advisers are finding it increasingly uneconomic to market to small and medium-sized enterprises (SMEs) and are withdrawing rather than redoubling their efforts. This is an important and difficult issue for both government and private sector providers. SOURCE: @SSRN

June 20, 2020
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