April 2021
19Apr

Ireland. Government in bid to resolve pensions dispute in community employment sector

The Government is set to table new proposals to resolve a long -running dispute over access to pensions for hundreds of community employment scheme supervisors. Minister for Public Expenditure Michael McGrath and Minister for Social Protection Heather Humphreys informed Government politicians that they had agreed on measures to deal with the issue. They told Government TDs and senators on Saturday that the Department of Social Protection would provide details to trade unions in the coming days. The proposal is expected to involve...

April 19, 2021
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16Apr

Four Ways Covid-19 Has Changed Retirement

The Covid-19 pandemic is triggering a retirement rethink for many Americans. A survey by the National Institute on Retirement Security (NIRS) found that about half of Americans are now more concerned about their retirement security in light of the Covid-19 pandemic and are considering the possibility of working longer. At the same time, the pandemic has triggered a desire to retire earlier among other survey respondents. After all, Covid-19 has reminded everyone that life can be shorter than anticipated. The fallout extends...

April 16, 2021
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16Apr

India. National Pension System: PFRDA to extend entry age to avail benefits

Senior citizens who have not yet got into the National Pension System (NPS) bandwagon may have some cause for cheer. Pension regulator PFRDA plans to soon extend the maximum entry age for availing NPS benefit to 70 years from the current 65 years, its Chairman Supratim Bandyopadhyay said on Thursday. Read also EU insurance regulator cracks down on unit-linked policy costs Simultaneously, the exit age limit is proposed to be extended from 70 years to 75 years, he said at a...

April 16, 2021
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16Apr

Coinbase IPO: like it or not, you’re now invested in Bitcoin

Whether you think Bitcoin and other cryptocurrencies are a scam or an economic revolution, you are becoming increasingly exposed to them as financial institutions incorporate them into payments and investments. This year, both Mastercard and Visa have announced plans to allow payments using cryptocurrencies, and the US’s oldest bank, BNY Mellon, has begun accepting cryptocurrencies for its asset management clients. And with the cryptocurrency platform Coinbase selling shares from today via a direct listing on the Nasdaq stock exchange,...

April 16, 2021
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15Apr

US Corporate Pension Funding Nudges Higher in FY 2020

Robust returns of 13.4% for the 100 largest corporate pension plans in the US offset a 67-basis-point drop in the discount rate to raise the plans’ funded ratio to 88.4% last year from 87.5% at the end of 2019, according to consulting firm Milliman’s “2021 Corporate Pension Funding Study.” The funded levels rebounded strongly during the second half of the year after the bottoming out at 81% in July. “Corporate pensions demonstrated their resilience in 2020 amidst a turbulent year of...

April 15, 2021
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15Apr

The Macro Challenges of Population Aging

A new paper jointly released today by The Concord Coalition and the Global Aging Institute (GAI) warns that the aging of the U.S. population not only threatens to overwhelm the budget, but could also usher in a future of permanently slower economic growth and diminished geopolitical stature. The paper, entitled The Macro Challenges of Population Aging, is the fifth in a series of issue briefs on the aging of America called The Shape of Things to Come. Read also Spain....

April 15, 2021
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15Apr

Are Dutch pensions hesitant to absorb direct real estate write-offs?

Dutch pension funds reported substantially higher returns on their direct real estate returns in 2020 than on their investments in listed real estate equities during the same period. Despite the heavy losses in segments of the real estate market as a result of the coronavirus lockdowns, the value of Dutch pension funds’ direct real estate investments as reported to pensions regulator De Nederlandsche Bank (DNB) increased by 1% to €83.5bn compared with a reported decrease of 7% to €56.7bn for listed real estate. The...

April 15, 2021
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14Apr

EU insurance regulator cracks down on unit-linked policy costs

Insurers face stricter rules on selling products linked to the performance of stock or bond markets, in a bid to cut high costs for consumers, the European Union’s insurance regulator said on Tuesday. Insurers in the bloc collected premiums worth up to 340 billion euros ($404.33 billion) in 2019 from life insurance and pension premiums linked to the value of a stock, bond or property funds that cause the rates of return for investors to fluctuate. The EU’s European Insurance and...

April 14, 2021
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14Apr

US. Florida Senate Passes Bill to Move Most State Workers to DC Plan

The Florida state Senate has passed a bill that would eliminate the option for nearly all new state employees to participate in a defined benefit (DB) plan, instead requiring them to join a defined contribution (DC) plan. Read also New York pension fund divests $7 million from Canadian oil sands firms The bill, which was sponsored by Republican Sen. Ray Rodrigues, would require new hires as of July 1, 2022, to enroll in a 401(k)-style investment plan. Employees are currently given...

April 14, 2021
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14Apr

Zimbabwe. NSSA targets US$60 equivalent monthly pension payouts

The National Social Security Authority (NSSA) says it expects the minimum pension to be equivalent to US$60 by the end of the year payable at the interbank rate. The pensions authority, which recently announced a raft of measures to complement monthly pay-outs to its beneficiaries, has dispatched its state-of-the-art mobile clinic to the southern region to provide selected medical services to its pensioners. NSSA general manager, Mr Arthur Manase, said the medical surveillance clinic will be in the region for the...

April 14, 2021
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