September 2024
03Sep

UK. More than half of women expect to run out of money during retirement, as gender pensions gap persists – Fidelity International

More than half (52%) of women in the UK do not believe they will have enough money to sustain their income in retirement, according to findings from Fidelity International’s annual Women and Money study.1 The research indicates that a significant number of women have adjusted their financial plans in response to economic pressures over the past 12 months. Specifically, more than one in ten (12%) women have reduced their pension contributions – with those who have done so cutting back by an average of...

September 3, 2024
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02Sep

UK. Third of retirees overspending amid rising cost of living

Nearly a third of UK adults have admitted to being ‘retirement overspenders’ due to the rising cost of living. Research by PensionBee also revealed 20 per cent of those aged over 55 have consistently spent more than they expected to during their retirements so far. With an additional 11 per cent admitting this had occurred early on in their retirement. Daily living expenses emerged as the largest financial burden for retirees, with 28 per cent citing it as their top item of...

September 2, 2024
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02Sep

US. Annuities gain traction with middle-market consumers

Middle-income Americans will have a more difficult time managing their longevity risk in retirement now that fewer of them have defined benefit plans. Making matters more complicated is that many of these middle-market investors may have saved thousands of dollars throughout their careers in their employer-sponsored defined contribution plans but may not know how they can be certain their money lasts throughout the retirement. LIMRA’s Retirement Investor Study, published earlier this year, examined middle-income investors’ views of their retirement risks...

September 2, 2024
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02Sep

China. More benefits could be doled out to incentivize couples to have more babies

Many countries in the world now face a shrinking, and simultaneously aging, population, which, if not promptly reversed or mitigated, could negatively impact the sustainable growth of their economies. A sufficient number of people is indispensable for running and reinforcing the operation of a functioning economy. Consequently, policymakers or relevant government authorities need to take note of the evolution of the ongoing changes of demographic patterns, and readjust and optimize their population policies so as to plan for a resilient...

September 2, 2024
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02Sep

The Average Retirement Age in 2024: US vs. UK

With recent economic challenges and rising costs of living, retirement is on many Americans’ minds. You may be wondering: Is the state of retirement in the U.S. worse than in other countries? That depends on which country you’re talking about. Read on to learn about the average retirement age in the U.S. and UK, plus current retirement processes, to compare the difference.   Earning passive income doesn't need to be difficult. You can start this week. What Is the Average Retirement Age in the US? According to...

September 2, 2024
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August 2024
30Aug

US. Texas is sued over anti-ESG law

 Texas was sued on Thursday by a nonprofit whose members support environmentally-friendly policies, and which seeks to block a state law targeting businesses that support reduced reliance on fossil fuels. The American Sustainable Business Council said the 2021 law known as Senate Bill 13 violates members' free speech rights by banning Texas from investing in or contracting with businesses that, in the state's view, "boycott" the oil and gas industry. Texas is the largest and among the most prominent Republican-led states...

August 30, 2024
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30Aug

Argentina police pepper spray pension protesters

People took to the streets of Buenos Aires after President Javier Milei announced he would block plans to raise pensions in line with Argentina's triple-digit inflation rates. Police used pepper spray on demonstrators and hit them with batons during violent clashes. The president announced his plans to veto the reforms tabled by the opposition-controlled Congress in a statement posted by his office on X, formerly Twitter. The statement claimed the bill's "only objective was to destroy the government's economic program".     Read more @bbc

August 30, 2024
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30Aug

Kenya launches plan to promote retirement benefits sector

Kenya on Thursday launched a strategic plan aimed at promoting an inclusive and sustainable retirement benefits sector. Chris Kiptoo, principal secretary in the National Treasury and Economic Planning, told journalists in Nairobi, the capital of Kenya, that the five-year Retirement Benefits Authority Strategic Plan aims to grow the country's retirement savings from 1.7 trillion shillings (about 13.2 billion U.S. dollars) to 24.8 billion dollars by 2029. "The blueprint also details steps to expand pension coverage from the current 26 percent of...

August 30, 2024
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30Aug

Australian regulator plans stress test on private credit risks

Australia’s banking regulator plans to stress test the nation’s financial sector to shed more light on the impact of private credit capital flows on other market segments. “Private credit is a new and emerging risk that we are looking at,” said John Lonsdale, chair of the Australian Prudential Regulation Authority (APRA) at a media conference in Sydney on Aug. 28. “We want to work on more transparency in this area and we’ve signaled that already there is quite a lot...

August 30, 2024
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29Aug

US. Prudential to Complete Industry’s 1st Multiemployer Pension Risk Transfer

In what is thought to be an industry first, Sound Retirement Trust, a multiemployer pension plan based in Seattle, has selected the Prudential Insurance Co. of America to complete a pension risk transfer—the first PRT to involve a multiemployer plan. The $221 million transaction will provide pension benefits for approximately 8,700 retirees and beneficiaries. Sound Retirement Trust is a joint labor-management board of trustees that provides retirement benefits to grocery workers of contributing employers across Washington. Multiemployer pension plans are retirement programs...

August 29, 2024
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