The Swiss pension system is in danger of collapse. At the same time, Swiss retirees get higher pensions than almost anywhere else in the world. Is the country due for a reality check? The Swiss are a nation of happy pensioners. A study by UBS (International Pension Gap Index) found that in Switzerland (compared with 12 other countries), generous pensions mean that people must save the least for their old age – and that is in a country that...
Petroleo Brasileiro SA agreed to sell its 90 percent stake in a natural gas pipeline unit to France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec for $8.6 billion. Engie and the Caisse prevailed after multiple rounds of bidding for the unit, known as TAG, beating out Macquarie Group Ltd. and a joint bid from EIG Global Energy Partners and Mubadala Development Co. It is the biggest-ever single asset sale for Petrobras, whose new...
By Dan Tammas-Hastings Understand the investment template that dominates the pension industry Liability-Driven Investment is the practitioner's guide to this increasingly popular investment template. Already the dominant framework for pension schemes in Europe and the UK, the LDI market is expected to grow significantly with the shift from Defined Benefit to Defined Contribution, and then into Digital Asset Management -- or Robo-Advice. With an aging population and significant under-saving globally, more and more finance professionals will need to know how to work...
By Belen Diaz Diaz, Samuel O Idowu, Philip Molyneux This book explores the status quo of corporate governance in banking and investor protection from both theoretical and practical perspectives. Bringing together original conclusions with a regional and international focus, it provides a timely and comprehensive overview of the effectiveness of corporate governance in the financial sector and an assessment of investor protection. It also includes a number of examples and case studies to illustrate the findings. The book compares corporate...
By Eleanna Galanaki (Athens University of Economics and Business), Emma Parry (Cranfield School of Management), Ilona Bučiūnienė (ISM University of Management and Economics), Leda Panayotopoulou (Athens University of Economics and Business) Theory and practice in Human Resource Management (HRM) generally focuses on two levels of analysis: the individual and the organization. However, there is a growing recognition that HRM is manifested within larger environmental settings and several HRM researchers have approached the field with a more macro perspective. For example,...
By Fabio Alessandrini (University of Lausanne; Banque Cantonale Vaudoise) & Eric Jondeau (University of Lausanne - Faculty of Business and Economics (HEC Lausanne); Swiss Finance Institute) Research on socially responsible investment in equity markets initially focused on sin stocks. Since then, the availability of data has been extended substantially and now covers environmental, social, and governance (ESG) criteria. Using ESG scores of firms belonging to the MSCI World universe, we measure the impact of score-based exclusion on both passive investment...
By Olivia Mitchel The U.S. Treasury department’s move last month to allow private companies to pay lump-sum pension payments to retirees and beneficiaries, instead of monthly payments, is good news for companies that do not want to be saddled with long-term pension obligations – particularly for private sector employers who have underfunded pension plans.However, lump-sum pension payments may not work out well for retirees who opt for them. While a debate has ensued on the merits and risks of lump-sum...
El Parlamento Europeo aprobó ayer, 4 de abril, la creación de un modelo paneuropeo de Planes de Pensiones que ayudará a los usuarios a mantener los beneficios de un Plan en todos los países de la UE y les garantiza las mismas condiciones en todos los países. Es decir, que se establecerá un modelo común para los usuarios que deseen ahorrar para su pensión y poder "llevarse" este producto consigo si se van a vivir a otro estado miembro....
La Cámara de Diputados aplazó la discusión en el pleno de reformas a la Ley del Sistema de Ahorro para el Retiro (SAR) que se tenía previsto para este día, ante la petición de las diferentes bancadas. La iniciativa del Ejecutivo federal fue cuestionada por las fracciones de los partidos Revolucionario Institucional (PRI) y de Trabajo (PT), por considerar que afectaría los ahorros de los trabajadores. El coordinador de los diputados de Morena, Mario Delgado Carrillo, rechazó que el...
China reducirá la proporción que asumen los empleadores del seguro básico de pensiones de los empleados urbanos al 16 por ciento a partir del 1 de mayo, según el Consejo de Estado, el gabinete chino. El gobierno también bajará de manera gradual las contribuciones de las empresas a los seguros de desempleo y de compensación por lesiones laborales, de acuerdo con un plan publicado por el Consejo de Estado. La proporción de fondos para el seguro básico de...
