News Archives - Page 705 of 954 - Pension Policy International

10SepSeptember 10, 2019

US. Corporate Pension Funding Moves Closer to Worrisome 80% Level

U.S. corporate pensions felt the pain of low bond yields in August. The retirement funds for U.S. corporations had just 82% of the money they expect to need over time for pensioners as of August, down four percentage points from July, according to a statement from consulting firm Mercer on Monday. The steep drop stemmed from long-term bond yields plunging to record lows, which effectively increases the current value of companies’ future obligations. Declines in U.S. equities didn’t help...

September 10, 2019

News, Slider2019, DB Pensions, Funding, US

10SepSeptember 10, 2019

Australian pension funds’ $168bln ‘wall of cash’ may lead overseas

Australian pension funds are sitting on a A$245 billion ($167.38 billion) 'wall of money' that will probably flow overseas because of a lack of domestic options, asset managers say. Thanks to Australian laws requiring employers to contribute at least 9% of a worker's salary to a pension, superannuation funds, as they are known locally, are the world's third-largest pool of pension assets, worth about $1.9 trillion. The Australian stock market is worth only $1 trillion. The nearly 2:1 ratio...

September 10, 2019

News, Slider2019, Australia, Investment, Public Policy

10SepSeptember 10, 2019

Zimbabwe. IPEC reforms progressive

The Insurance and Pensions Commission (IPEC) says it has made “significant progress” on institutional and regulatory reforms in keeping with recommendations of the Justice Smith-led Commission of Inquiry. The Commission of Inquiry focused on the conversion of insurance and pensions values from Zimbabwe dollar to the United States dollar, but it also included other reform proposals. Although progress had been recorded on other aspects of the pensions reform agenda, IPEC pensions director Josphat Kakwere said development of the proposed...

September 10, 2019

News, Slider2019, Reform, Regulation, Zimbabwe

10SepSeptember 10, 2019

Estonian average pension to exceed 500 euros after indexation

The average Estonian pension will after the spring 2020 indexation surpass 500, the country’s Finance Ministry has stated. Estonian public broadcaster ERR reports that on Monday, September 9, the Estonian government’s summer economic forecast presentation has been held. Pensions increase annually in April as a result of indexing, with the change coming into effect on the first day of the month. In the second quarter of 2019 the average Estonian old-age pension was nearly EUR 485. In 2020, a...

September 10, 2019

News, Slider2019, Adequacy, Estonia, Pension design, Public Pensions

10SepSeptember 10, 2019

US. Are Millennials Preparing For Retirement?

When we talk about retirement security, it’s usually older workers we have in mind. But what about millennials? People currently aged 23 to 39 now make up the largest portion of the U.S. labor force. The future of retirement is, literally, the future of millennials. On the fifth and final (for now!) episode of my podcast Reset Retirement, we explored what’s next for American retirement. For millennials, it’s a mixed bag. While their savings are less than ideal, thanks...

September 10, 2019

News, Slider2019, Aging, Private Pensions, Saving, US

09SepSeptember 9, 2019

European stocks cautious as investors eye Brexit battle and stimulus hopes

European stocks traded mixed Monday afternoon as investors monitor ongoing political chaos in the U.K. and cautious hopes for policy stimulus from the world’s major economies after a series of weak data releases. The pan-European Stoxx 600 hovered just below the flatline, auto stocks adding 1.6% to lead gains while the food and beverage sector slid 1%. British newspaper the Daily Telegraph reported late on Sunday that Prime Minister Boris Johnson has prepared a legal strategy to counter opposition...

September 9, 2019

News, Slider2019, EU, Investment, Risk

09SepSeptember 9, 2019

$200 trillion in global debt at risk if trust falters: OECD

The Organisation for Economic Co-operation and Development (OECD) has warned almost $200 trillion in public and private debt could be the catalyst for another global economic crisis if trust in government and financial institutions deteriorates. In a report overseen by former Australian Securities and Investments Commission chief Greg Medcraft, the OECD also said the destruction of trust following the global financial crisis (GFC) had contributed to the rise of crypto-currencies, which themselves were exacerbating the globe's economic risks. The...

September 9, 2019

News, Slider2019, Adequacy, Pension design, Saving

09SepSeptember 9, 2019

Canada Pension Plan Investment Board Invests in India-Based Logistics Provider Delhivery Pvt Ltd

Canada Pension Plan Investment Board (CPPIB) has invested US$115 million in Delhivery Pvt Ltd, broadening its exposure to the logistics sector in India. Delhivery, one of India's leading third-party logistics providers, operates in more than 2,000 cities (more than 17,500 pincodes) offering a full range of supply chain services. "The continued strong growth of e-commerce has generated significant opportunities in India's express logistics space for long-term investors such as CPPIB, and we are pleased to partner with a...

September 9, 2019

News, Slider2019, Canada, Investing

09SepSeptember 9, 2019

UK. Are we away with the fairies on our pension expectations?

WOULD you like a job that pays £1.3 million a year? That is just the average expected salary among children aged eight to 15, when they get their first job, according to a new survey by Halifax. It's equal to nearly 38 times the average wage in the UK this year, proving that, unfortunately, our children are away with the fairies. They also believe that schoolteachers, firefighters and postmen are earning well over £100,000 a year. Wouldn't we all...

September 9, 2019

News, Slider2019, Adequacy, Pension design, Saving, UK

08SepSeptember 8, 2019

Amber Rudd quits cabinet and attacks PM for ‘political vandalism’

Boris Johnson’s government was in danger of imploding on Saturday night as the work and pensions secretary, Amber Rudd, quit the cabinet and resigned the Conservative whip, saying she could not stand by while “loyal, moderate MPs” were purged from the party. Rudd told Johnson she had joined his cabinet “in good faith accepting that no deal had to be on the table”. She added: “However, I no longer believe leaving with a deal is the government’s main objective.” While she could...

September 8, 2019

News, SliderUK

September 2019