December 2021
09Dec

The OECD warns of the pressure of aging on the financial sustainability of pensions in Spain

The body warns, at a general level and without specifying any country, that the future of pension systems depends on the decision being made to raise contributions, extend the retirement age or reduce pensions. A pensioner during a demonstration of this group in Bilbao. The Organization for Economic Cooperation and Development (OECD) has warned of the impact that the aging of the population will have on the “financial sustainability” of the Spanish pension system, according to the annex for Spain of the biennial...

December 9, 2021
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09Dec

Will everything be responsible investing?

Impact investing, responsible investing, environmental, social and governance investing – these are all different branches coming from the same tree and have been rising in popularity. As interest in climate-related issues has been growing for some time, more and more investors have been looking towards making their money work for the greater good. The consumer-facing campaign Make My Money Matter has played a key role in encouraging people to explore where their pensions are invested, as well as how they could...

December 9, 2021
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Why the demographic transition is speeding up
09Dec

Why the demographic transition is speeding up

As birth announcements go, it was momentous. On November 24th India’s government declared that the country’s fertility rate had dropped to 2.0 children per woman. That is below the replacement rate—at which new births are sufficient to maintain a steady population—and puts India in the company of many richer economies. Indeed, fertility rates are now below replacement level in all four “ bric” countries (Brazil, Russia, India and China), with the population probably falling in Russia and China. It...

December 9, 2021
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09Dec

Brexit would be better for UK workers, Boris Johnson promised. But will it?

The European Commission’s plans to protect people in precarious jobs in the gig economy could be the most ambitious extension of workers’ rights from Brussels since Britain left the EU. If adopted, the plans would mean that gig economy companies, such as Uber and Deliveroo, would have to treat workers as employees with minimum wages (where they exist), sick pay, holidays and better accident insurance, unless they could prove that drivers and couriers were genuinely self-employed. Workers would also get greater...

December 9, 2021
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08Dec

Pensions protected during COVID-19 pandemic but ageing challenges persist, says OECD

The COVID-19 pandemic has taken a heavy toll among elderly people although retirees have seen their pension payments well protected across OECD countries. Future pension entitlements have also been well protected thanks to the exceptional policy response to the crisis, according to a new OECD report. Pensions at a Glance 2021 says however that the long-term financial pressure from ageing persists. Pension finances deteriorated during the pandemic due to lost contributions, and shortfalls have been mainly covered by state budgets....

December 8, 2021
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08Dec

US. 2021 Retirement Plan Advisor Year in Review

Industry leaders provide their thoughts on the most important developments of the year for plan advisors. andemics, political and policy changes, volatile investment markets—another year under the belt. WealthManagement.com asked several retirement plan industry leaders for their thoughts on the past year’s most important developments for plan advisors. Wealth Management: What do you view as the key developments that affected retirement plan consultants’ work with plan sponsors in 2021? 2021 was the first year for pooled employer plans (PEPs). This had a...

December 8, 2021
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08Dec

Kenya. Zamara targets WhatsApp users with digital pensions plan

Zamara Group has expanded its digital pension plan Fahari Retirement to allow users to access it on the online messaging app WhatsApp. The pension firm targets to grow its customer base for its retirement products, especially in the informal sector. Fahari Retirement Plan allows individuals to save as low as Sh20 per day or Sh300 per month. They can access the funds after 50 years in lump sum or as regular income. Customers are also allowed to withdraw their savings anytime...

December 8, 2021
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08Dec

US. Public Pensions Need a Shift in Investment Strategies

A report, which says their investments have underperformed since the 2008 financial crisis and are costly, suggests officials should switch to purely passive investing. Public employee pension funds, endowment funds and other nonprofit institutional investors in the U.S. have underperformed properly constructed, passively investable benchmarks by a wide margin since the global financial crisis of 2008, contends Richard Ennis, an early pioneer of quant investing and co-founder of U.S. investment consultancy EnnisKnupp, in a research paper. A composite of 46 large...

December 8, 2021
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Canadian pension funds to increase stakes in Mexico's IDEAL
08Dec

Canadian pension funds to increase stakes in Mexico’s IDEAL

The controlling shareholders of Mexican construction company IDEAL (IDEALB1.MX), part of the business empire of tycoon Carlos Slim, signed an agreement for two Canadian pension funds to increase their shareholdings in the firm, IDEAL said on Tuesday. The accord, which is still pending corporate and government approval, would see Ontario Teachers' Pension Plan Board and Canada Pension Plan Investment Board up their holdings by 8.4% and 1.1% respectively, bringing each of their total holdings to 24.8%, IDEAL said in a...

December 8, 2021
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Boston to Divest From Fossil Fuels, Tobacco, Private Prisons
07Dec

US. Boston to Divest From Fossil Fuels, Tobacco, Private Prisons

Boston Mayor Michelle Wu has signed into law an ordinance to divest the city from the fossil fuel, tobacco, and private prison industries by the end of 2025. The ordinance prohibits using public funds to invest in the stocks, securities, or other obligations of any company that derives more than 15% of its revenue from those industries. Under the new law, fossil fuel investments are defined as investments in any company that derives more than 15% of its revenue from...

December 7, 2021
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