April 2019

30Apr

Canada. Morneau Shepell releases the results of its Performance Universe of Pension Managers’ Pooled Funds

Morneau Shepell (TSX: MSI) has released the results of its Performance Universe of Pension Managers' Pooled Funds for the first quarter of 2019. According to the report, in the first quarter of 2019, diversified pooled fund managers posted a median return of 8.3 per cent before management fees. "The FTSE Canada Universe Bond index posted a return of 3.9 per cent and the Canadian Equity S&P/TSX Composite index posted a return 13.3 per cent. The U.S. Equity S&P 500...

April 30, 2019
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30Apr

Brazil’s Bolsonaro Finally Gets A Win

Brazil’s president Jair Bolsonaro and his party of newcomers and roughnecks finally cleared a legislative hurdle last week. An important step in Bolsonaro’s planned social security system reboot passed in the Constitution and Justice Committee (CCJ), which was no surprise. For Bolsonaro, a win’s a win, even if it is a small one in the overall scheme of pension reform. This is one step in a very drawn out process. And so while Brazil’s stock market is up on...

April 30, 2019
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30Apr

Moody’s changes outlook on Croatia to positive

Credit rating company Moody’s has changed Croatia’s outlook from stable to positive, affirming the country’s long-term local and foreign currency issuer and senior unsecured debt credit rating at Ba2. Although the surplus was lower (0.2 per cent of GDP), in large part due to the activation of a state guarantee regarding the Uljanik Shipyard, Croatia confirmed a positive trend throughout 2018. In its statement, Moody’s highlighted how the improved fiscal performance is mainly attributable to a significant reduction in...

April 30, 2019
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29Apr

Millions of Americans are working past 65, and it’s not because they can’t afford to retire

More retirement-age Americans, mostly baby boomers, are working today than ever before, but it's not because they need the money. The largest increase in people working past 65 has been among those in the best shape for retirement: highly educated people with high incomes, says Lincoln Plews, a research analyst at United Income. The biggest reason for working longer? They're healthier than they've ever been. Not all baby boomers are itching to retire. The greatest share of older Americans...

April 29, 2019
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29Apr

UK. Tougher overseas pension regulations to impact advisers

Advisers must ensure they can still fully service new or existing clients who have transferred their UK pension into an overseas pension scheme following new rule changes, deVere Group has warned. This summer, the Malta Financial Services Authority (MFSA) is implementing new rules which will impact the way in which Pension Trustees administer both new scheme applications and existing members on a number of levels. There are estimated to be about 30,000 UK pensions already transferred into Malta-based Qualifying...

April 29, 2019
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29Apr

Opinion. Poland’s latest pension reform is good for the government, bad for savers

Recently announced reforms to Poland’s pension system are just the latest in a long line of changes made over the past eight years. Unfortunately, the majority of these have been motivated by short-term goals (either fiscal or political), without looking at the long-term stability of the pension system. Sadly, the current changes follow the same pattern. After lowering the retirement age to 65 (for men) and 60 (for women) and announcing discretionary one-off payments for pensioners before this year’s...

April 29, 2019
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26Apr

France. Macron to cut taxes and raising pensions but matching with spending cuts

French President Emmanuel Macron has ordered that further cuts to income tax must be matched euro-for-euro by cuts in public spending to keep the budget deficit from spiralling out of control, his finance minister said on Friday. In his response to months of anti-government protests, Macron said late on Thursday that he would cut income tax further by 5 billion euros (£4.3 billion). "The president has set a principle of which I am the guarantor: each euro of decrease in income...

April 26, 2019
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26Apr

Nigeria inaugurates School of Pensions, Retirement Planning

Nigeria has commissioned the first Abuja School of Pensions and Retirement Planning (ASPRP) to provide tertiary education for the acquisition of vital skills and capacity in pension administration and management.n and management. The school, a private sector-driven monotechnic, is approved by the Ministry of Education, having met the requirements of the National Board for Technical Education (NBTE). Malam Muhammad Bello, Minister of the Federal Capital Territory, said the establishment of the school was a proof of FCT administration’s commitment...

April 26, 2019
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26Apr

Brazil Legislators Finally Gather Pace in Pension Reform Push

After weeks of delays, Brazil’s lower house of Congress is on a roll, pushing ahead the government’s key pension reform by creating a long-awaited committee only days after declaring the bill was constitutional. Center-right PR party deputy Marcelo Ramos will head a lower house special committee that will debate potential changes to the bill. Committee discussions will take place between May and June, lower house Speaker Rodrigo Maia said on Thursday. The special committee represents the second step of...

April 26, 2019
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26Apr

The Extinction Rebellion: How Sustainable Finance Can Help Save The Planet

Parts of London were brought to a standstill by the Extinction Rebellion last week. The protesters seek to bring to the public’s attention the ticking time bomb that the human race faces by not addressing climate change seriously or quickly enough. The Extinction Rebellion is more an orderly assembly of rational modest citizens, many of whom have never protested before, than anarchists such as anti-capitalist / global protestors. A seventy-year-old women who was arrested and wished not to be...

April 26, 2019
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