July 2021
12Jul

Transferring A Business Following Insolvency In Germany: Who Pays The Pensions Bill?

Acquiring a business on insolvency can have pitfalls, especially if it involves an employee occupational pension scheme. Will the German Federal Labour Court's case law, which is favourable to acquirers, continue to apply following a recent European Court of Justice decision? The promise of a company pension makes companies an attractive employer for (potential) employees. However, if a company is to be sold at some point, the pension obligations can become a dealbreaker from the buyer's point of view. Particularly...

July 12, 2021
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12Jul

Emerging markets pushed to the sidelines for now

Emerging markets have become a victim of China's success in 2020, with money managers and investors now underweight and pulling assets from equity and debt allocations as they watch and wait for better times to resume. The recovery in the U.S. dollar, an increase in safe-haven asset yields in the first quarter and China's tighter monetary policy have contributed to the underperformance of emerging market assets vs. developed market assets so far in 2021. On top of that, developed markets continue...

July 12, 2021
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09Jul

Hong Kong’s pension fund posts 4.5 per cent investment gain in first half, but policy and regulatory challenges lie ahead

Hongkongers probably earned the most returns in two years from their US$154 billion pension scheme in the first half of this year from a rally in global stocks. These winnings could be eroded by policy tightening in the US and a tech sector crackdown at home by China. Read also ESG: Fad or Future? The Mandatory Provident Fund (MPF) generated HK$52.6 billion (US$6.8 billion) of investment income in the January to June period, according to calculations by the Post based on...

July 9, 2021
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09Jul

Germany finally launches basic pension scheme

Germany’s basic pension scheme kicks off this July Shortly before the federal election in September, Germany’s coalition government is finally delivering on its promise to top-up insubstantial pension benefits to ensure a basic standard of living for all retirees who have contributed to the social security system. Under the new system, anyone who has contributed towards a German pension for at least 33 years will qualify for a basic pension. This includes not just time spent working, but also time taken...

July 9, 2021
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09Jul

Nigeria. Fintech firm, Tangerine, launches pension, insurance products

A leading financial services and technology platform, Tangerine, officially launched its financial service product offerings at a press conference held on Wednesday July 7. Speaking at the press conference was Livingstone Magorimbo, Head Life Insurance, Tangerine Nigeria, Dapo Akisanya, Head Pensions, Tangerine Nigeria & Ibitunde Balogun, Head Commercial, Tangerine Nigeria who introduced the press to Tangerine and shared the businesses agenda and future growth plans. In September 2019, Tangerine was established following the acquisition of 100% equity stake in Metropolitan Life...

July 9, 2021
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09Jul

UK. Chancellor Rishi Sunak hints at ruling out 8% pension rise

The chancellor has given his strongest indication yet of ruling out a predicted 8% rise in the state pension next year. Official forecasts suggest that the link with earnings growth could mean the bumper rise in the amount paid from April 2022. Rishi Sunak told the BBC a decision on pensions would be "based on fairness for pensioners and for taxpayers". Various commentators have called for an overhaul of the rules. However, groups representing older people say the government's promises to pensioners should...

July 9, 2021
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09Jul

US. Do You Get Your Money’s Worth From Buying An Annuity?

Once upon a time, in the (somewhat mythical) past of traditional defined benefit pensions, your employer protected you from the risk of outliving your money in retirement, by acting, more or less, as an insurance company providing an annuity. With that benefit receding into the past, many experts have been hoping that Americans with 401(k) plans would avail themselves of annuities on their own, to give themselves the same sort of protection, and, indeed, the SECURE Act of 2019...

July 9, 2021
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08Jul

The EU’s new green plan to achieve carbon neutrality

The European Commission revealed a new green financial plan on July 6 to meet its 2030 goal of cutting emissions by 55% across EU member states. The European Union body will need to raise €350 billion ($414 billion) a year to promote the use of natural gas over coal for power generation and push financial institutions to go green. Achieving the 55% cut in emissions will be a major step toward achieving carbon neutrality by the middle of the...

July 8, 2021
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08Jul

The slow-burn crisis inside Ukraine’s pension system

Adramatic situation with state pension provision is unfolding in Ukraine. In autumn last year, Ukrainian prime minister Denys Shmyhal stated that if “decisive measures” are not taken, then in 15 years the state will not be able to pay pensions. With the collapse of the Soviet Union, Ukraine inherited a so-called “solidarity pension system”: current pensioners are supposed to receive payments from pension contributions made by the working population. However, today the number of people employed in the Ukrainian economy...

July 8, 2021
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08Jul

ESG: Fad or Future?

The trend over recent years is impossible to ignore: ESG investing has been gathering steam. There have been record flows into ESG investments, companies in ESG sectors have registered impressive valuations and thousands of asset managers and owners have signed on to the UN Principles For Responsible Investment (PRI). Environmental sectors are outstripping growth in the overall economy and ESG-focused funds are outperforming their counterparts. There is a convergence of driving factors that already point to this being more...

July 8, 2021
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