May 2020
26May

Romania’s PM says pensions will rise “depending on economy”

Romanian prime minister Ludovic Orban confirmed that the public pensions would increase from September 1, although the economy is not going well. By how much will depend on "the state of the economy" and will be decided considering the long-term sustainability of the public pension system, he added. "The pensions will increase. By how much will they increase, this depends on the state of the economy and the [state's] actual capacity to pay pensions not only this year but...

May 26, 2020
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26May

The Arrival Of The ‘Unavoidable Pension Crisis’

By Lance Roberts I wrote an article in 2017 discussing the “Unavoidable Pension Crisis.” At that time, most did not understand the risk. Since then, the situation has continued to worsen. COVID-19 pandemic has likely triggered a rolling pension collapse over the next couple of years. This idea was discussed in more depth with members of my private investing community,Real Investment Advice PRO. Read also Allianz unveils the first edition of its Global Pension Report In 2017, I wrote an...

May 26, 2020
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26May

US. The No.1 reason people make early withdrawals from retirement funds may surprise you

By John Anderer Retirement is the prize at the end of the work marathon. Any financial advisor or accountant will tell you it’s a good idea to start saving for retirement as early as possible, and the average working adult spends decades adding money, little by little, to his or her retirement fund. When the time comes, that money will be spent on leisure, fun, and everything else we can’t do while working full time. Now, you’re not supposed to touch...

May 26, 2020
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25May

U.K.’s Largest Pension Fund Urges Total to Clamp Down on CO2

The U.K.’s biggest pension fund said it will back a climate resolution asking for France’s Total SA to adopt a tougher stance on climate change at its annual shareholder meeting next week. The resolution was brought by 11 European asset managers last month, in another example of investors pressuring Big Oil to tackle environmental challenges. Since then, Total has set out bold commitments to eliminate most of its emissions by 2050, joining others such as Royal Dutch Shell Plc...

May 25, 2020
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25May

Australia. Universal pension for all: Retirees call for tax and income reform

Every retiree would get at least a part pension under a plan being considered by seniors' groups amid concerns the coronavirus pandemic's effect on key income streams is leaving many older Australians cash poor and increasing the number living in poverty. Seniors organisations are pressing the Morrison government to look at a massive overhaul to the pension system that would also take into account possible changes to tax concessions, such as franking credits, as a way to pay for...

May 25, 2020
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25May

South Africa. Eskom must tackle the cost of its coal contracts

By Vuslat Bayoglu The lockdown is imposing additional financial strain on Eskom and necessitates urgent solutions to get the company on a sustainable path beyond Covid-19. It is estimated Eskom will lose between R2.5 billion and R3 billion in revenue per month due to the low electricity demand triggered by the national lockdown. This will compound existing problems: R450 billion debt, maintenance arrears, costly Medupi and Kusile faults, and money lost during state capture. The other perennial problem, perhaps...

May 25, 2020
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25May

How will the current financial climate affect UK pensioners?

By Rebekah Evans Pension saving often involves a lot of forward planning, with key decisions having to be made at particular times within a person’s life. However, due to the economic and financial disruption brought about by coronavirus, many savers have expressed uncertainty in the current pension market. Read also Transaction costs make up 37% of UK pension investment costs: CACEIS It is feared pension savings could potentially be at risk, and a significant number of savers are looking for ways...

May 25, 2020
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22May

US pension funds approach point of no return

The issues facing public pension funds in the US are widely known, and while it's not clear how exposed to the recent market correction funds were, analysis from Wirepoints of 2018 data shows some may have reached the point of no return. Looking at asset-to-payout ratios of 148 state and local pension funds with more than US$2 billion in assets, the worst-off funds are those that are already well known for their pension shortfalls. These are in Kentucky, Illinois,...

May 22, 2020
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22May

The Economic Commission for Latin America and the Caribbean proposes Universal Basic Income

The Economic Commission for Latin America and the Caribbean, a regional organism of the United Nations Secretariat has declared itself in favour of a new regime of welfare and social protection that includes the gradual, progressive and sustained establishment of universal basic income in the region of Latin America and the Caribbean. Read also World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus) On May 12th, its executive secretary, Alicia Bárcena, presented the 3rd Special Report COVID-19:...

May 22, 2020
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22May

Working In Retirement: What You Need To Know Now

It’s common to assume that once you’re retired, your working days are over. But that’s not always the case. Whether it’s financially necessary or just a way to stay busy, a lot of people end up with a post-retirement career. If you think you’ll need or want to continue working to some degree after you retire, it’s important to start planning years ahead. Here are three different paths you can take for a post-retirement career—and important aspects of each...

May 22, 2020
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