April 2019

10Apr

IMPACT OF DIGITALISATION OF FINANCIAL SERVICES ON PENSION SUPERVISORY PRACTICES: CASE STUDIES

By Nina Paklina As the proportion of retirement income provided by private pensions becomes increasingly important, the quality and effectiveness of their supervision becomes more and more crucial. The IOPS Working Paper Series, launched in August 2007, highlights a range of challenges to be met in the development of national pension supervisory systems. The papers review the nature and effectiveness of new and established pensions supervisory systems, providing examples, experiences and lessons learnt for the benefit of IOPS members...

April 10, 2019
Books, Books, Regulation, Supervision,
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10Apr

Ghana. NPRA To Unify Pension Schemes By 2021—Wireko Brobbey

The National Pensions Regulatory Authority (NPRA) is expected to unify Ghana’s fragmented pension scheme regime by the year 2021, a Deputy Minister for Employment and Labour Relations, Bright Wireko Brobbey has disclosed. According to him, Cabinet has already given the approval for the development of a roadmap aimed at unifying all pension schemes which is expected to be completed by 2021. Currently, the consultation process which involves wider stakeholders is ongoing before it fully takes off with the unification....

April 10, 2019
News, Slider,
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10Apr

UK parliament pension fund takes first step towards fossil fuel divestment

Parliament’s pension fund trustees are to reconsider the rules of their investments to take account of the risk of climate change, in a first for MPs’ finances. While stopping short of a promise to fully divest from fossil fuels, the pledge by the trustees marks an important first step towards assessing and reducing the effect of the pension fund’s investments – which are ultimately paid for by the taxpayer – on climate change. The move is a victory for...

April 10, 2019
News, Slider,
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10Apr

Nigeria: The Informal Sector To Benefit From The Contributory Pension Scheme

In a bid to strengthen the post-retirement financial capability of all working Nigerians (across all sectors of the economy), the National Pension Commission (PenCom) has finalised plans to launch the micro pension plan (MPP) on Thursday, 28 March 2019. The MPP will allow employees of organizations with less than three staff as well as self-employed individuals to participate in the contributory pension scheme. The move to expand the scope of coverage of the contributory pension scheme will potentially mean...

April 10, 2019
News, Slider,
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09Apr

España. Pensiones sin histeria

El debate electoral sobre las pensiones ha empezado con mal pie. Las ambiguas declaraciones del asesor económico principal de Pablo Casado, Daniel Lacalle, sobre los recortes en las prestaciones en aquellos países que habían aprobado subidas o revalorizaciones han suscitado un intercambio visceral de acusaciones entre los partidos que no contribuye a calmar las inquietudes de los pensionistas, presentes y futuros, sino a estimular su ansiedad. Tampoco ha aclarado la posición del PP, partido que gobernó hasta antes de...

April 9, 2019
Noticias,
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09Apr

Crypto Fund Managers: Pensions Need Bitcoin “Now”

Millions the world over rely on pensions for their retirement. But, data gathered by Bloomberg and the American Federal Reserve has revealed that such funds, which act as economic lifelines for the soon-to-be-retired, aren’t doing too hot. In fact, Mark Yusko, a prominent American investor, recently claimed that the pension soon may get “truly ugly” when they skirt their commitments. But there’s an unorthodox but perfectly logical answer to this growing dilemma: Bitcoin and crypto assets. Read more @Blockonomi...

April 9, 2019
News, Slider
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09Apr

UK. Why the increase to workplace pension contributions is a much bigger deal than you think

To some this will seem just another of those irritating little deductions that come through on salary slips, but in reality the amount you contribute will have a huge impact on your future From Saturday, the start of the new financial year, the 10 million or so Britons who are included under the pensions auto-enrolment legislation will have their workplace pension contributions go up from 5 per cent of their salary to 8 per cent. Employees have to contribute...

April 9, 2019
News, Slider,
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09Apr

Asian political parties address ageing population

More than 25 political parties from Asia gathered in Colombo last weekend to exchange views on international and regional issues, with a focus on the implications of and a policy to address the issue of an increasing ageing population in Asia. The United Nations estimates that one quarter of Asia’s population, or about 1.3 billion, will be over 60 years old by 2050. This demographic change forces policy makers to reckon and rethink whether our existing policies and practices...

April 9, 2019
News, Slider
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08Apr

Colombia. Subsidios a las pensiones altas podrían estar en la mira de una reforma

Para una pensión de 25 salarios mínimos el subsidio es de $ 732 millones, mientras que para una de un salario mínimo el auxilio es de $135 millones. Varias alternativas se exploran para logar cambios profundos el sistema pensional en Colombia de manera que beneficie a un mayor número de personas de una forma más equitativa. El Ministro de Hacienda, Alberto Carrasquilla, considera que más que una reforma pensional se requiere una reforma de protección a la vez que...

April 8, 2019
Noticias,
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08Apr

More UK firms eye collective DC pensions

With the UK’s Department for Work and Pensions (DWP) working to pass legislation to roll out collective defined contribution (CDC) pension schemes, several firms are considering them for their employees. Around one in eight (13%) corporate pension scheme decision-makers believe that their company is either likely or very likely to adopt CDC schemes in the coming six years, according to a recent survey of by global corporate advisory firm Willis Towers Watson. That is, of course, provided the DWP’s...

April 8, 2019
News, Slider,
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