May 2018

31May

Which of the three pillars of retirement is most important for you?

Saving for retirement is an important, yet often neglected financial goal. Some don't pay much heed to it thinking it is years away and some salaried individuals find comfort in the fact that a portion of their salary is directed towards the Employees' Provident Fund (EPF). However, depending solely on your EPF contribution for post-retirement earnings is not a good idea. To help with retirement savings, traditionally, in any country, there is a three-tier or three pillar retirement fr .. Read...

May 31, 2018
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31May

Our Societies Are Getting Older — Here’s How Blockchain Can Help Rethink Pensions

Populations around the world are aging. Today, about 962 million people are over 60 years old. People are living longer too. Japan has one of the world’s oldest populations where the average 60-year-old can expect to live another 26 years. As we get older, issues are bound to arise. We encounter health concerns and our energy decreases. We wouldn’t be as sharp and as spry as we were in our younger years. These all bound to affect our ability to...

May 31, 2018
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31May

UK. Pension contributions and rewarding shareholders: getting the balance right

Over recent years, defined benefit pension schemes have become increasingly prominent creditors and stakeholders in the UK corporate landscape. Between 2007 and 2017, the UK’s combined DB deficit rose from circa £450bn to £700bn (on a buyout basis according to The Pension Protection Fund’s 2017 Purple Book). Despite this dramatic increase, inadequate accounting disclosure requirements have enabled corporate boardrooms to reward yield-hungry investors with ever-greater handouts over the past decade. Read More: Financial Director

May 31, 2018
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31May

Australia. More than 90,000 pensioners to earn more

The federal government is expanding the pension work bonus from $250 to $300-per-fortnight, allowing people to earn up to $7800 per year without impacting their payments. The scheme will also be expanded to allow self-employed retirees to earn up to $300-per-fortnight without copping a whack to their pensions. Senior bureaucrats expect 88,750 pensioners and 1000 allowance recipients will receive a boost to their payments because of the more generous work tests. Read More: Daily Telegraph

May 31, 2018
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30May

AIG Expands Presence in Pension Risk Transfer Market

American International Group, Inc. (NYSE:AIG), announced that it has further expanded its presence in the pension risk transfer market, after reaching agreement on the two largest plan termination transactions of 2017. The two transactions, entered into by American General Life Insurance Company, part of AIG’s Life & Retirement business, represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and active members. AIG expects continued growth in 2018 as well as over the longer term...

May 30, 2018
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30May

South Korea’s $579 bln pension fund to boost overseas investment

South Korea's National Pension Service (NPS) said on Wednesday it would significantly increase its asset allocation to overseas and alternative investments to diversify its holdings. NPS, the world's third-largest pension fund with around 68 percent of its $579 billion portfolio invested in South Korea, has been pressured to diversify beyond the limitations of South Korea's economy. The fund is seen as too big for South Korea's relatively limited opportunities, and studies suggest the fund cannot earn the returns needed to sustain...

May 30, 2018
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30May

BR Analysis. Money to spend only on wages and pensions? Romania’s social spending enters danger zone above 60 pct of total budget, limiting room for response in case of economic downturn

Official data released in March show Romania’s GDP, the index widely used to measure the size of national economies, recorded growth of 6.9 percent in 2017 in real terms, the highest since 2008, to reach RON 858.3 billion (EUR 187.9 billion). Experts point out that much of the economic growth in Romania is the product of a consumer bonanza, stimulated by years of wage-led growth government policy. But this model has generated high public spending on wages and pensions and larger...

May 30, 2018
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30May

Micro-pension Scheme will Deepen Asset Accumulation in Nigeria–Stanbic IBTC Pension Managers

Managing Director of Stanbic IBTC Pension Managers Limited, Mr Eric Fajemisin, has backed measures taken by the National Pension Commission (PENCOM) to sustain growth of the Nigerian pension industry. According to him, micro pension scheme, multi-fund investment structure and Pension account transfer window, to mention but a few, are among initiatives capable of putting the sector in stronger footing going forward. Stanbic IBTC Pension Managers Limited is the biggest pension fund administrator (PFA) in the country. Read More: Business Post

May 30, 2018
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30May

More than half of older people in Latin America & the Caribbean don’t receive pensions: Report

A new study by two United Nations’ agencies has found that more than half of older persons in Latin America and the Caribbean do not receive a pension from a contributing system. In the joint publication, released in Santiago, Chile on Wednesday, by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO), the lack of income from a contributory pension system in more than half of all men, and above all in women,...

May 30, 2018
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