November 2019

27Nov

US. Federal Pension Balks at Bill Banning China Investments

The Federal Retirement Thrift Investment Board (FRTIB), which administers a defined contribution plan for US federal employees, has balked at proposed legislation that would prevent the fund from holding direct or indirect investments in China-based companies. The FRTIB oversees the Thrift Savings Plan, a tax-deferred defined contribution plan for federal employees that had approximately $560 billon in net assets as of the end of 2018. According to a letter seen by Reuters, the FRTIB said the proposed legislation “discriminates...

November 27, 2019
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27Nov

UK Pension Provider STM Slumps 30% After Profit Warning

Financial services provider STM Group said on Wednesday it expects its 2019 underlying earnings to fall by a third on weak performance in its pensions business, sending its shares plunging 30%. The company, listed on London's junior stock market, forecast an annual underlying pretax profit of 2.5 million pounds ($3.21 million), compared with 3.7 million pounds reported last year. The slowdown in business applications within its pensions segment was partly due to some uncertainties and concerns in the general...

November 27, 2019
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26Nov

France’s December strikes: ‘Expect major disruption that could last until New Year’

Major disruption that could last until the New Year - that's the view of one French political analyst on what will happen once 'unlimited' strikes begin in France on December 5th. The French government and unions are squaring up for a battle as mass strike action is declared over plans to reform the French pension system. Read also Pension reform in France ‘a response to gilets jaunes’ The first declared strike day is December 5th, but many unions say they...

November 26, 2019
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26Nov

Will Negative Rates Finally Kill Pensions?

Economists once thought that negative interest rates were impossible. Not only are they possible, but they may hasten the end of a dying business practice. Read also Negative Rates Can Do a Lot More Damage Yet: Nordic Warning I have written in this space before about the repercussions of other countries issuing bonds with negative yields. The past decade has conclusively proved that negative interest rates are not only possible but likely to remain part of the international...

November 26, 2019
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26Nov

10 Top Stock Picks of America’s Largest Pension Funds

One of the simplest things that everyday investors can do to improve their performance over the long haul is to study the best practices and investments of the world's top investors. And while that typically invokes names such as Warren Buffett and Carl Icahn, don't forget the money managers overseeing billions of dollars at mammoth pension funds. Understanding the secrets of large-scale investors can put you miles ahead of those people who simply wing it without first coming up with...

November 26, 2019
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26Nov

NEPAL: Government pension scrapping plan

A plan by the Nepali Government to propose legislation depriving retired Public Servants of their pensions if they criticise the Government has caused a storm in the country’s Parliament. Minister of Federal Affairs and General Administration, Lalbabu Pandit told a meeting of the State Affairs and Good Governance Committee (SAGCC) that the Government was in favour of the measure. “We will deprive retired Civil Servants of their pensions if they are convicted of any criminal offence or crime against...

November 26, 2019
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25Nov

Negative Rates Can Do a Lot More Damage Yet: Nordic Warning

After half a decade of negative interest rates, one of the biggest Nordic pension funds is wondering whether this is just the beginning. The head of investments at Finland’s Ilmarinen Mutual Pension Insurance Co. says his industry is “just starting to see what kind of new challenges [negative rates] will cause.” That means “we are just taking the first steps” in portfolio adjustments, Mikko Mursula said in an interview in Helsinki. He says reality hit after the summer, when...

November 25, 2019
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25Nov

US. States embrace nudge theory to promote retirement savings

A new government program that takes money out of people’s paycheck is gaining interest in state legislatures across the country — in part because it is wildly popular with voters. Oregon, Illinois and California have launched initiatives to create retirement savings accounts for residents whose employers do not offer company-sponsored programs. In those states, tens of thousands of workers have saved more than $40 million for their own retirements. The programs automatically divert 5 percent...

November 25, 2019
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25Nov

UK. University staff strike over pensions and pay

Students across the UK face disruption as lecturers and support staff in 60 universities start an eight-day strike. Members of the University and Colleges Union (UCU) are taking action in two separate disputes, one on pensions and one on pay and conditions. The strikes will affect almost half of all UK universities. The universities say strikes are not the way forward and promise to do all they can to minimise the impact of industrial action on students. In addition...

November 25, 2019
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25Nov

Leveraging AI To Accelerate Precision Health For Longevity

People over 50 are the fastest growing demographic group worldwide. This creates both opportunities and challenges for the global economy and healthcare systems. The Longevity Industry, which provides products and services for those aged over 50 is becoming a multi-trillion-dollar industry. There are currently 260 companies, 250 investors, 10 non-profits, and 10 research labs in the Longevity Industry in the UK alone. In the next decade, Longevity policies enacted by governments, and changes in the financial industry will transform...

November 25, 2019
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