December 2024
12Dec

Just 19% of UK savers have factored getting a serious illness in to their retirement plan

Just a fifth of UK savers (19%) have fully considered getting a serious illness in their retirement plan, according to research by consultancy Barnett Waddingham. Its At retirement reckoning report, which surveyed more than 5,000 UK employees, also found that 25% of respondents under the age of 50 have prepared for this possibility, compared to just 16% of those aged over 50. Two-fifths (43%) of this older age group have thought about it but not included it in their retirement planning, and 32%...

December 12, 2024
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12Dec

Morningstar Drops Recommended Safe Withdrawal Rate to 3.7%

Morningstar Inc. has lowered what the investment research firm considers a safe retirement savings withdrawal rate for new retirees based on a 30-year outlook, according to the firm’s annual “State of Retirement Income” report released Wednesday. To decide on the recommended withdrawal rate, Morningstar researchers considered forward-looking asset class returns and inflation assumptions for new retirees, excluding what they may be getting from Social Security or other nonportfolio income sources such as a company pension. In that forward-looking analysis, the authors...

December 12, 2024
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11Dec

Immigration and Waning US Labor Force Growth

The growth of the working age population born in the United States has been slowing since 2000, as increasing numbers of native-born workers have been reaching retirement age while smaller generations of young Americans enter their working years. Since 2020, the size of the population aged 18-65 that was born in the United States has actually shrunk. The decline has been most pronounced among non-college educated workers. Corresponding to this decrease in labor supply, unfilled job vacancies and labor...

December 11, 2024
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11Dec

AllianzGI Approved for China Pension Firm Stake

The investment arm of Allianz has been approved to become the first foreign asset manager to own a stake in China’s pension insurance company. Allianz Global Investors has received regulatory approval for investment in a 2 percent stake in Guomin Pension & Insurance Company, according to a statement. This makes it the first foreign asset manager to own a stake in the pension insurer. AllianzGI has been approved to subscribe to around 228 million newly issued shares in Guomin Pension worth approximately...

December 11, 2024
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11Dec

Zimbabwe. Government urged to incentivise informal sector formalisation

ANALYSTS and other key business players have implored the Government to invest more in incentivising informal sector players to transition into formal business operations to enhance economic stability and improve tax revenues. Mr James Wadi, an economic analyst said this while giving an appraisal of the 2025 National Budget at the post–budget breakfast meeting hosted by Business Weekly in collaboration with the Confederation of Zimbabwe Industries (CZI) and the Ministry of Finance, Economic Development and Investment Promotion on Monday. Zimbabwean products Mr...

December 11, 2024
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11Dec

Rising Pension Poverty in Germany: A Growing Number Below Minimum Living Standards

The issue of pension poverty is increasingly prevalent in Germany, with a significant portion of the elderly population receiving pensions that fall below the established minimum living standard. Recent statistics reveal that the situation is worsening, as more seniors struggle to meet their basic needs. As of the end of 2023, the minimum living standard for pensioners, as defined by the basic security benefits in old age, was set at 942 euros per month. Approximately 7.9 million individuals in Germany...

December 11, 2024
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10Dec

UK pensions are £283bn worse off than we thought. Time to panic?

The Pension Protection Fund’s annual Purple Book is almost universally regarded as the authoritative “state of the nation” guide to the UK’s private sector defined benefit schemes — their assets, liabilities, sizes, number and asset allocations. And given that this class of fund commands close to one and a half trillion pounds of assets, their actions are of wide interest. The headline from last year’s almanac was that these DB schemes — in aggregate — could afford to ‘buy-out’. That...

December 10, 2024
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10Dec

Performance, liquidity concerns affecting investors’ private markets decisions

Almost 90% of institutions investing in private markets will not re-invest with their existing managers over the next 12 months, according to new research – with many citing poor performance. Coller Capital’s latest Global Private Capital Barometer found that 88% of limited partners – institutions such as pension funds buying into private markets wouldn’t increase allocations to their existing manager relationships next year. The report said this trend had been building over the past year, with almost 80% of respondents saying...

December 10, 2024
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10Dec

South Korea. Number of newlyweds falls below 1 mil. in 2023, nearly half childless

The number of newly married couples in Korea dropped below 1 million for the first time in 2023, with nearly half without children, data showed Tuesday. Newlyweds refer to couples who had been married for five years or less. In 2023, the number came to 974,000, down from 1.03 million the previous year, according to the data from Statistics Korea. This marks the first time the number of newlyweds has fallen below 1 million since the agency began collecting relevant data in...

December 10, 2024
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10Dec

31% of Canadian employees rely on gig work to help cover expenses: survey

A third (31 per cent) of Canadian employees say they rely on gig work in some capacity to help cover regular expenses, according to a new survey by ADP Canada. The survey, which polled more than 1,200 employees, found among gig workers, 17 per cent said gig work is their primary source of income for covering expenses. The main industries solicited by gig workers are transportation, retail and grocery. On a scale of one to 10, workers reported an average happiness...

December 10, 2024
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