July 2021
01Jul

Germany. Pension increase rolls out in July

Just in time before the grand coalition government ends for this legislative period, one of its prestige projects is reaching citizens, or more precisely pensioners. According to estimates by the Federal Ministry of Labor, around 1.3 million retirees will receive a supplement to their pensions at taxpayer expense. In the face of opposition from the CDU/CSU, the SPD pushed through the basic pension last year, which is intended to recognize the lifetime achievements of people who have worked all...

July 1, 2021
News, Slider, ,
Read more...
01Jul

UK. Half of millennials want cryptocurrencies in pensions

Almost half of millennials would like to invest their pension in cryptocurrencies, study finds. The research on UK pensions explores the appeal of new investment opportunities across different groups of savers. It finds that the appetite for cryptocurrencies is high among millennials at 40%. But digital currencies hold far less appeal for older generations. It was 10% among Gen X (age 41 to 56), 7% for baby boomers (aged 57 to 75) and 10% for the silent generation (aged 76 and older). The...

July 1, 2021
News, Slider, ,
Read more...
01Jul

US. Now Is The Time To Re-Think Retirement Plan Conventional Wisdom

Retirement plan design can make or break an employee’s ability to maintain their standard of living in retirement. Over the past several decades, many private sector companies implemented a complete overhaul in retirement plan design, shifting from defined benefit pensions to 401(k)-style defined contribution accounts. Originally designed to supplement rather than replace pensions, 401(k) plans have become the primary employer-sponsored plan for many U.S. workers. This transition meant sacrificing a number of important features of pension plans and economic efficiencies....

July 1, 2021
News, Slider, , ,
Read more...

June 2021
30Jun

France. Macron Weighs Pension Reform Before Bastille Day

French President Emmanuel Macron could revive a controversial pension reform as he prepares to unveil his priorities for the rest of his mandate and ahead of 2022 elections. Macron is set to speak to the French some time during the first half of next month, probably before July 14 when French leaders usually address the nation to mark Bastille Day. That is when he is considering tackling a topic that is highly contentious for voters, according to a person familiar...

June 30, 2021
News,
Read more...
30Jun

Emerging markets face a USD 5.4 trillion-per-year shortfall in savings for sustainable retirements, says Swiss Re Institute

- Emerging markets face a USD 5.4 trillion pension savings shortfall for every year of their workers' retirements, or USD 106 trillion in cumulative terms.¹ - This gap between emerging markets' pension assets and pension income need is about USD 40,000 for every worker – about 8.5 times the average annual worker's income. Read also Namibia. President signs law that consolidate regulations of all financial institutions Latin America has a pension savings gap of USD 514 billion per year, or USD 50 000 per worker on average. Brazil has the region's highest gap due to...

June 30, 2021
News,
Read more...
30Jun

Namibia. President signs law that consolidate regulations of all financial institutions

It has been confirmed that president Hage Geingob has signed the Financial Institutions and Markets (FIM) Act into law. This brings the tedious process to push through legislation that took over 10 years to finalise to an end. Ministry of finance spokesperson Tonateni Shidhudhu has confirmed that the president has indeed signed the code which seeks to consolidate and harmonise the laws regulating financial institutions, financial intermediaries and financial markets in Namibia. Gazetting this, however, still remains. "We have already submitted to the...

June 30, 2021
News,
Read more...
30Jun

UK. Research highlights Brits’ lack of interest in pensions

More than half (55 per cent) of Britons do not look for pensions information from any source, according to research from Infinite Global and YouGov. A report launched by the duo, titled Pensions: Solving the Perception Puzzle, called for the information problem to be addressed through the simplification of pensions material, and beseeched those within the provider and advisory community to engage with the media on a more human level, rather than “only focusing on technical subject matter”. Among 18-24 year-olds, the...

June 30, 2021
News,
Read more...
29Jun

UK. FCA Proposes New Climate-Related Disclosure Regime

The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers. On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure rules and guidance for asset managers, life insurers, and FCA-regulated pension providers. The disclosure requirements would be consistent with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The FCA plans to introduce the disclosure requirements in a new ESG Sourcebook in the FCA Handbook. The regulator anticipates that this...

June 29, 2021
News, ,
Read more...
29Jun

Australia. IGR shows super will lift living standards and ease burden on aged pension

The Intergenerational Report has once again confirmed Australia’s compulsory super system has lifted living standards for millions while easing the burden on the aged pension. Despite an ageing population, lifting the super rate to 12% and the maturing superannuation system will see fewer future Australians rely on the taxpayer-funded aged pension to support themselves in retirement. The pension cost is expected to drop from 2.8% of GDP today to 2.1% in 2060. The proportional decrease in pension costs occurs even as...

June 29, 2021
News,
Read more...
29Jun

US. GAO Studied Retirement Plan Climate Change Risk Assessments

The agency recommended that the Federal Retirement Thrift Investment Board (FRTIB) evaluate the risk of climate change on the Federal Thrift Savings Plan (TSP)'s investment offerings. The Government Accountability Office (GAO) has recommended that the executive director of the Federal Retirement Thrift Investment Board (FRTIB) evaluate the Federal Thrift Savings Plan (TSP)’s investment offerings in light of risks related to climate change. Read also US. Now Is The Time To Re-Think Retirement Plan Conventional Wisdom “Climate change is expected to affect financial...

June 29, 2021
News,
Read more...