March 2018

22Mar

Mexico to probe pension fund’s losing investment in indebted builder

Mexican federal auditors are investigating an investment made by the country’s state workers’ pension fund, after Reuters reported it spent millions of dollars on shares in a company spiraling toward bankruptcy. PensionIssste plowed more than $20 million into construction company ICA (ICA.MX) and became the largest shareholder just before ICA suspended debt payments, Reuters reported this month. The fund is set to lose most of its investment in a restructuring. The story sparked outrage in a country where corruption has become...

March 22, 2018
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21Mar

US. No Pension? You Can ‘Pensionize’ Your Savings

After years of working, many people face the challenge of converting their savings into a sustainable flow of income in retirement. Some researchers think they have a practical solution: Workers should take steps to “pensionize” their nest eggs. The transition from saving to spending was once relatively simple, at least for retirees with traditional pensions offering predictable payments. But such plans are dwindling — in 2017, only 16 percent of Fortune 500 companies offered a defined benefit plan (traditional or...

March 21, 2018
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21Mar

German pensions to rise by more than 3 percent this year

The German government says pensions will rise by more than 3 percent this year as a result of higher wages in Europe's biggest economy, an increase that is well above the country's inflation rate. The Labor Ministry said Tuesday that pensions will increase by 3.22 percent in the former West Germany on July 1 and 3.37 percent in the formerly communist east. Germany's annual inflation rate was 1.4 percent in February. Rises in German pensions are linked to wage developments. The...

March 21, 2018
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21Mar

Japanese pension data entry outsourced to Chinese firm

An information processing firm in Tokyo assigned to process the personal data of around 5 million pensioners outsourced part of the task to a Chinese company — in violation of a contract that prohibited subcontracts, according to the Japan Pension Service. The outsourcing fell under the spotlight after it was revealed that around 1.3 million people received lower pension benefits in February than they were entitled to as income tax breaks were not adequately reflected. The pension management body, which has...

March 21, 2018
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21Mar

UK. The Battle Over Automatic Retirement Plan Enrollment

With the well-publicized retirement crisis looming, one might assume that any solution that leads to increased retirement savings would be welcomed with open arms. —Not so fast. Industry observers often set the amount of their pay that plan participants should strive to contribute in order to ensure a secure retirement at 10 percent. Fewer than 10 percent of employees meet that threshold. According to recent research by Cerulli, employees whose companies automatically enroll them in retirement plans are far more likely...

March 21, 2018
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21Mar

Global fund managers eye trillion dollar pension business in China

Global asset managers are lobbying Beijing to offer tax benefits and other incentives to entice China’s aging population to invest in mutual funds for their retirement, as funds eye a multi-trillion dollar opportunity in commercial pensions. Their hopes for a bigger role in China’s pension market and its reform process received a boost this month when regulators published guidelines for the introduction of Western-style pension target funds. Although such fund-of-fund (FoF) pension products are popular in mature markets like the United...

March 21, 2018
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21Mar

UK. How British Savers Finance Putin’s Russia

The quaint English city of Salisbury, known for its medieval streets, picturesque cathedral and bus tours to Stonehenge, has found itself on the map of international intrigue after a former Russian spy and his daughter were found poisoned on a park bench. Yet there’s a link with Russia that predates the sinister events that unfolded this month. It places Salisbury at the intersection of espionage and finance and exposes the scale of the challenge the U.K. faces if it wants...

March 21, 2018
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20Mar

How the Medical Industry is Improving Life for Japan’s Aging Population

Everyone in Japan knows its citizenry is getting older at a faster rate than that of any other nation. But for outsiders, the most striking insight may be that the Japanese want to face aging well. In fact, by government edict, the goal is to direct policy, health care, and even citizens themselves toward longer, healthier, more enriching lives. The resulting lessons will be critical to life science companies worldwide as the aging trend prevalent in Japan expands to other...

March 20, 2018
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20Mar

Canadian pension fund CDPQ wants to be its own private equity investor

Caisse de depot et placement du Quebec (CDPQ), one of Canada’s biggest public pension funds, has relied on private equity firms to invest in leveraged corporate buyouts. Now it is building its own investing team to depend less on buyout firms as middle men. Private equity firms buy companies only to sell them a few years down the line for a profit. Their reputation as costcutters eyeing a speedier exit makes some companies more open to consider an investment from...

March 20, 2018
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20Mar

China able to pay old-age pension in time, in full: Premier Li

Premier Li Keqiang said on Tuesday that China has the ability to pay pension benefits to the senior in time and in full. The balance of the country's pension funds stands at 4.1 trillion yuan (645 billion U.S. dollars), Li told a press conference following the conclusion of the annual legislative session. "We have more revenue than expenditure," Li said. "We also have 1.8 trillion yuan social security fund as a strategic reserve". Read More: ECNS

March 20, 2018
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