December 2021
14Dec

US. Support builds for reversing Trump’s limits on ESG investing

A Department of Labor rule that would make it easier for retirement plan sponsors to account for social and environmental risks is garnering support from environmentalists and the financial services industry. The agency announced plans in October to roll back two rules adopted by the Trump administration that placed additional scrutiny on “sustainable investments.” The Trump-era rules did so by making it more complicated for 401(k) and pension plan managers to consider climate change and related issues when investing on...

December 14, 2021
News, Slider, ,
Read more...
14Dec

EU. EIOPA highlights key risks for the insurance and pension sectors

The European Insurance and Occupational Pensions Authority (EIOPA) published today its December 2021 Financial Stability Report. The analysis underpinning the report examined key macroeconomic developments and the prevalence of risks that are key for the insurance and pension sectors. On the macroeconomic side, the COVID-19 pandemic continues to pose a challenge to European economies. Uncertainties relating to the path of the pandemic and supply chain disruptions weigh on the growth outlook. Despite the recent pick-up in long-term yields, markets still operate...

December 14, 2021
News, Slider, ,
Read more...
14Dec

Japan’s Lesson for the World: Robots Won’t Save Us

Japan affords a preview of what the future of the United States, Australia, and Western Europe will become unless meaningful steps are taken to ensure that a nation’s relevance is measured by how it creates lives of dignity for its citizenry. But seeing this relevance has become difficult as much of the luster has gone from Japan studies. Wistful comments about heady days during the 1980s, when scholars of Japan were in demand, are still heard. But China now...

December 14, 2021
News, Slider, , ,
Read more...
13Dec

E.U. Plan to Boost Gig Economy Workers Is Latest Blow to Apps

European Union plan to improve conditions for the growing number of gig economy workers could mean millions more of them are classified as employees entitled to benefits, the latest setback for digital platforms that rely on independent contractors to deliver food and offer rides. The draft rules outlined Thursday aim to clarify the labor status of people employed by app-based companies like ride-hailing service Uber and food delivery business Deliveroo and would add oversight for the algorithms they use to...

December 13, 2021
News, Slider, ,
Read more...
13Dec

US. Senate democrats Call for End to Retirement Plan Discrimination Against Same-Sex Couples

A group of 45 Senate Democrats are urging the Treasury and the Internal Revenue Service to revise old guidance that permits retirement plans to discriminate against same-sex couples. Yesterday, U.S. Senator Patty Murray (D-WA), Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Senator Ron Wyden (D-OR), Chair of the Senate Finance Committee, and 43 of their Senate Democratic colleagues sent a letter to Secretary of the Treasury Janet Yellen and Commissioner of the Internal Revenue Service Charles...

December 13, 2021
News, Slider, ,
Read more...
13Dec

Nigeria. PenCom says 72,000 participants registered for Micro Pension Plan

The National Pension Commission (PenCom) has disclosed that 72,000 participants have been registered under the Micro Pension Plan (MPP) as at November 2021. This was disclosed by Head, Micro Pension Department, PenCom, Mr Dowda Ahmed, in an interview on Friday with NAN during the Pension Fund Operators Association of Nigeria (PenOp) Annual Media Parley in Lagos, themes, “Micro Pension – Challenges and Opportunities.” He also pointed out the category of people under the scheme. What PenCom is saying Ahmed stated that the scheme...

December 13, 2021
News, Slider, , ,
Read more...
13Dec

These Retirement Savers Are Making a Big Mistake

Investing for retirement is crucial to building a nest egg that can provide financial security in your later years. Unfortunately, many people who are investing are making a big mistake with the money they're saving for the future. In fact, recent research from Fidelity found around a quarter of all employees who are invested in workplace retirement accounts are taking on more risk than they should. Among the 24.2% of investors in 2021 who are over-exposed to risk, there's one generation that's...

December 13, 2021
News, Slider, ,
Read more...
US. California Public Pensions Are Major Fossil Fuel Investors
10Dec

US. California Public Pensions Are Major Fossil Fuel Investors

California’s climate-conscious policies aren’t matched by the investment choices of its largest public pension funds, according to a report from two environmental groups. Of the 14 top U.S. pension funds analyzed by Stand.earth and Climate Safe Pensions Network, California Public Employees’ Retirement System, known as Calpers, and California State Teachers’ Retirement System, known as CalSTRS, were the largest investors in fossil fuel companies, with $27.1 billion and $15.7 billion, respectively, according to findings published Wednesday. The two combined hold about half...

December 10, 2021
News, , ,
Read more...
UK. Thousands of savers no longer able to participate in workplace pensions
10Dec

UK. Thousands of savers no longer able to participate in workplace pensions

The pandemic has impacted people's ability to save, with 300,000 savers no longer able to participate in a workplace pension, according to research. The repercussions of lockdown, particularly domestic work and homeschooling, have caused women to suffer the largest financial strain, with them being 50 per cent more likely to enter their retirement without a private pension than men. ‘Pandemics and pension inequality’, a Now Pensions report in collaboration with the Pensions Policy Institute, highlighted a rise in what it called...

December 10, 2021
News,
Read more...
Zimbabwe. Pensions funds owed $3,38bn in unpaid contributions
10Dec

Zimbabwe. Pensions funds owed $3,38bn in unpaid contributions

ZIMBABWE’s pensions and insurance organisations are owed over $3,38 billion in contributions deducted from employee salaries by companies. Insurance and Pensions Commission (Ipec) commissioner-general Grace Muradzikwa raised concern over companies deducting pension contributions from employees, but not remitting the funds. Muradzikwa made the remarks in a speech read on her behalf by director (pensions) Cuthbert Munjoma during a handover ceremony of the solar-powered borehole and groceries to Chengetai Old People’s Home in Chinhoyi on Wednesday. “As a commission, we are sensitive to...

December 10, 2021
News, ,
Read more...