April 2022
15Apr

Bad Retirement Savers Expect to Die Young

By Allison Bell What workers think about their retirement savings is closely related to how long they think they will live, according to a new Club Vita life expectancy survey. Workers who said that their savings would be enough to pay for a comfortable retirement agreed with Club Vita about how long they might live. Workers who said their savings would be too small to pay for a comfortable retirement predicted that they would die about 7.1 years earlier than Club Vita would have...

April 15, 2022
News, OP Ed, Slider, , ,
Read more...
15Apr

Kenya. Treasury cuts pensions and gratuity cash by Sh42bn

The Treasury has cut the budget for paying retired public servants by nearly Sh42.50 billion, pointing to a growing backlog which will not be cleared by end of June. The expenditure on pensions and gratuities for the current financial year has been slashed to Sh111.14 billion from earlier estimates of Sh153.64 billion, according to fresh estimates Treasury Cabinet Secretary Ukur Yatani has tabled in the National Assembly. This came after Mr Yatani said payroll for the public service pension was growing...

April 15, 2022
News, Slider, ,
Read more...
15Apr

Japan’s population down 640,000 in 2021, biggest drop on record

Japan's population totaled 125,502,000 as of Oct. 1, down 644,000 from a year earlier, marking the biggest decline on record, according to government data released Friday. The fall was attributed to stricter border restrictions propelled by the coronavirus pandemic, the Ministry of Internal Affairs and Communications said. The tally includes foreign nationals. Tokyo's population shrank for the first time in 26 years. All of Japan's 47 prefectures except Okinawa posted a fall in the number of residents in the year to...

April 15, 2022
News, Slider,
Read more...
15Apr

US. Mexican immigrants have to work longer due to inadequate Social Security benefits, study finds

Mexican immigrants are a critical part of the American workforce, but they are also financially vulnerable. As Emma Aguila explains in new research she co-authored in the Journal of Pension Economics and Finance, Mexican immigrants face greater obstacles in securing social security benefits and therefore have to work later into life. Equally important, Aguila and her colleagues, Zeewan Lee and Rebeca Wong, found Mexicans who do receive those benefits are more likely to rely on them compared to non-Hispanic white populations. However, an...

April 15, 2022
News, Slider, , , ,
Read more...
14Apr

Principal Financial poised to take stake in Chinese pension manager

Principal Financial Group is poised to become only the third foreign firm to take a stake in a Chinese pension management firm on the mainland. A "change of shareholders" announcement on the website of CCB Pension Management Co. Ltd., a subsidiary of Beijing-based China Construction Bank, said Wednesday that subject to approval by the China Banking and Insurance Regulatory Commission, Principal will acquire a 17.65% stake in CCB Pension Management. The announcement said China Construction Bank will transfer 15 percentage points...

April 14, 2022
News, ,
Read more...
14Apr

Germany set for bumper pension hike amid inflation surge

German Chancellor Olaf Scholz's coalition Cabinet on Wednesday gave the green light to the largest hike in pensions in more than a generation. The decision was made against a backdrop of rampant inflation, with pensions in Germany adjusted each year based on the national average salary. It also comes after some pensioners received no increase last year as the coronavirus pandemic battered the economy. How big is the increase? Pensions in states that made up the former West Germany, where there was no...

April 14, 2022
News, , ,
Read more...
14Apr

US. Retirees less worried about financial risk than younger people

As the pandemic passes the two-year mark, there seems to be an emerging gap in the financial security of younger Americans compared with their retired counterparts, new survey findings suggest. Americans who have yet to retire and are still balancing careers, family and saving are feeling more worried about their financial future than they did at this point last year and are significantly less confident than current retirees. In fact, nearly two-thirds (63%) of non-retirees said they fear running out of...

April 14, 2022
News, , ,
Read more...
14Apr

UK. Can retirement savers make their pension greener?

Pension savers are apparently turning their attention towards environmental, social and governance factors amid the increasing prevalence of ESG investing. Two-thirds (67 per cent) of consumers believe it is important to consider ESG factors before investing, rising to seven in 10 (72 per cent) for those with a pension, according to a survey from Aviva last year. When it comes to defined benefit pension funds, it will be down to the trustees who take advice from a consultant to decide what...

April 14, 2022
News, , ,
Read more...
13Apr

France. Macron is now ‘back-pedalling’ on ‘brutal’ pension plans, Le Pen ally says

President Emmanuel Macron is “back-pedalling” in his offer to soften his planned pension reform to seduce voters but would still execute his plans if re-elected, the head of France’s far-right Rassemblement National party Jordan Bardella said on Tuesday. Campaigning in France’s former industrial heartland, Macron on Monday said he was prepared to readjust his planned pension reform, which is at the core of his programme for re-election. Read also The Danish Pension System: Design, Performance, and Challenges “I am ready to change...

April 13, 2022
News, ,
Read more...
13Apr

US. New York pension leaders back calls for less fossil fuel financing

New York pension officials on Monday said they will support shareholder resolutions filed at major banks seeking quick cuts to financing of new fossil fuel development, pushing climate issues to the fore of another springtime shareholder meeting season. Shareholders should support resolutions filed at Bank of America Corp, (BAC.N) Goldman Sachs Group Inc (GS.N) and four other banks "in order to mitigate the systemic risks posed by unfettered climate change," according to a statement sent by a representative of New...

April 13, 2022
News, ,
Read more...