August 2019

14Aug

European Commission Requests the EIOPA Advise on PEPP Regulation Delegated Acts

On August 5, the Council of the EU published a cover note, which attaches a call for advice from the European Commission to the European Insurance and Occupational Pensions Authority (EIOPA) (dated July 31) on possible delegated acts concerning the Regulation on a Pan-European Personal Pension Product (PEPP Regulation) ((EU) 2019/1238). The Commission requests advice relating to: The criteria and factors to determine when there is a significant PEPP saver protection concern under Article 64(9). The specification of additional...

August 14, 2019
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14Aug

UK Pension and Welfare Agency Is Looking Into Blockchain For Future Implementation

On August 9th in a blog post, the deputy director of digital payments and banking systems at the Department of Work and Pensions (DWP) made a statement that the DWP was looking for ways to revamp its payment systems in order to make them better adapted to the current economic situation in the country. Richard LAYCOCK said that implementing the blockchain would bring great benefit to the speed, efficiency, and cost of conducting millions of transactions every single day...

August 14, 2019
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14Aug

US. The SECURE Act could mean big changes for advisers

While it's not surprising that the Setting Every Community Up for Retirement Enhancement (SECURE) Act is tangled in a political decision-making web, it's reassuring that the conversation about helping Americans save for retirement is still on the docket. After all, this would be the most significant retirement legislation since the Pension Protection Act of 2006, which among other reasons, is why financial advisers must consider the potential challenges and opportunities once the law is passed. (Fingers crossed for this...

August 14, 2019
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14Aug

Compound Interest And The Road To Retirement: How To Fund Your Future

Roughly 75% of Americans over the age of 40 are failing to keep up with saving for retirement, and close to one-third report that they have no retirement savings at all. With the future of Social Security somewhat unclear, preparing for retirement today is essentia to funding your future. Oddly enough, in my experience, I find that many individuals approaching retirement have not considered how they will generate income once their paycheck goes away. Sure, you may receive $20,000-$40,000...

August 14, 2019
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14Aug

World’s first vegan ETF launches next month

Vegans will soon have an investment product that reflects their values, with the first vegan ETF set to launch on the New York Stock Exchange (NYSE) next month. The US Vegan Climate Exchange Traded ETF will debut on the NYSE on Sept. 10. The fund, which has been developed by Beyond Investing LLC, will track the US Vegan Climate Index, which the firm launched in June 2018. The index starts with the S&P 500 universe and then excludes firms...

August 14, 2019
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13Aug

Colombia. Víctimas de violencia intrafamiliar pueden heredar pensión sin probar convivencia de cinco años

Hay que diferenciar las situaciones que hayan llevado a que un viudo o una viuda no haya convivido con su compañero (a) en los últimos años. La Corte Suprema de Justicia por medio de un fallo indicó que en casos especiales las personas que hayan sido víctimas de violencia intrafamiliar no deben probar convivencia de cinco años para heredar la pensión de su conyugue. El alto tribunal tomó la decisión luego de estudiar el caso de una mujer...

August 13, 2019
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13Aug

Zimbabwe after Mugabe: The country where pensions have disappeared

Retired couple Teddie and Vesta always imagined they would live out their golden years with dignity. He is 85, and served one company for 46 years as a cleaner, eventually rising to become a receptionist. Vesta says that increasing inflation has robbed them both of a comfortable retirement. A year ago Teddie's monthly pension was worth $80 (£66), it's now worth $10. "I am saddened when I see my beloved sitting in that corner from morning to night," Vesta...

August 13, 2019
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13Aug

Why Everyone Needs A Retirement Income Distribution Strategy

I was standing at the top of the highest point in Africa – Mt. Kilimanjaro – with friends and clients several years ago. I considered all of the hours of meticulous planning and training that went into the successful five-day hike to the top. While struggling to catch my breath at nearly 20,000 feet above sea level, I had a somewhat disturbing epiphany. My journey was not over. In fact, it was far from over. I was standing on...

August 13, 2019
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13Aug

Incoming Institutions: How Big Players Are Fast-Tracking Blockchain Regulation

In 2012, two monumental developments took place in the world of technology. Mark Zuckerburg announced in a status update that Facebook had reached over 1 billion active monthly users. Meanwhile, the European Commission proposed an unprecedented reform of the EU's data protection rules, which is now known as GDPR. These developments indicated something very significant — every major corporation, institution and enterprise in the world was shifting business, operations and profit models towards data-sharing in some respect, and this...

August 13, 2019
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12Aug

México. Esta es la razón por la que los trabajadores no ahorran en Afores

La falta de ahorro representa actualmente una amenaza a largo plazo para la vejez y las pensiones, pero los trabajadores en México no tienen dinero suficiente para ahorrar, reveló la Encuesta Nacional de Inclusión Financiera (ENIF) 2018, de la Comisión Nacional Bancaria y de Valores (CNBV) y del INEGI. Solo 5 por ciento de los trabajadores realizan aportaciones voluntarias a su cuenta para el retiro. “Desafortunadamente, la mayor parte de las pensiones de los trabajadores de menores ingresos proviene...

August 12, 2019
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