February 2018

01Feb

Brazilian president defends social security reform

Brazilian President Michel Temer defended the social security system reform Wednesday saying that the reform is "not a boogeyman." "Every time we speak of social security reform, there is resistance. But soon after, when the reviews are made, people see that the reform is not a boogeyman," Temer said during a concession ceremony for pre-salt oil exploration areas. he government said the reform is necessary to tackle the significant deficit in the social security system and ensure the future payment of...

February 1, 2018
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January 2018

31Jan

Pension funds AP1 and AMF invest 20 mln euros in fintech firm iZettle

Swedish pension funds AP1 and AMF are investing 20 million euros ($24.88 million) in mobile payment solutions firm iZettle, the three parties said in a joint statement on Wednesday. * The main part of the stake was bought from Santander Innoventures, which will remain a shareholder also going forward * The news comes after iZettle raised 40 million euros in December in a funding round led by venture capital firm Dawn and the Fourth Swedish National Pension Fund (AP4)   Read more Reuters

January 31, 2018
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31Jan

Zimbabwe. Mnangagwa rushes to legalise Tsvangirai’s pension

Finance Minister Patrick Chinamasa has moved with speed to amend the 2018 budget statement presented late last year before Parliament to incorporate President Emmerson Mnangagwa's desire to pay former Prime Minister Morgan Tsvangirai a gratuity and pension. According to NewZimbabwe.com, the amendment comes hardly two weeks after Harare Central MP Murisi Zwizwai (MDC-T) asked why the Finance Bill was silent on the pension payments to Tsvangirai when it made reference to pensions of the President, Deputy President, Speaker of Parliament,...

January 31, 2018
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31Jan

US. Empower Retirement Releases Real-Time Plan Design Platform

Empower Retirement has released its PlanVisualizer technology offering, a Monte Carlo-based simulator that allows 401k advisors to modify key variables in plan design to illustrate their effects in real time. Available through the broader retirement advisor market, PlanVisualizer provides plan sponsors “with a multi-dimensional, holistic view of their retirement plan in its current state, along with the ability to model how changes to key design elements can potentially affect participant preparedness.” It’s particularly timely, according to Peter Kapinos, head of advisor,...

January 31, 2018
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31Jan

On a better savings course: US retirement score rises

Americans' retirement savings are in the best shape they've been in more than a decade. So says a survey by Fidelity Investments, which looked at more than 3,000 working households that have started saving for retirement. After tallying up how much they're saving in their 401(k) accounts, their expected Social Security benefits and other assets, Fidelity said that the typical saver is on track to have 80 percent of the income they'll need to cover retirement costs. That's the highest score...

January 31, 2018
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31Jan

Romania’s new PM promises to increase wages and pensions

Romania must continue to increase wages, the new prime minister Viorica Dancila said on Monday as she addressed the Parliament before her cabinet got the confidence vote. She added that the minimum net wage will reach over EUR 300 per month in 2020. “I want Romanians to have salaries as close as possible to those in the European Union. The salary increases in the past year have reduced the number of doctors who leave the country by 70%. This is the way to...

January 31, 2018
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31Jan

German parties agree on climate as coalition talks progress

Chancellor Angela Merkel’s conservatives agreed with their would-be Social Democrat (SPD) partners on Wednesday on climate targets for 2030, a sign of steady progress in coalition talks which both sides aim to conclude within a week.  Merkel, weakened after losing votes to the far-right in a September election, is pinning her hopes for a fourth term on a re-run of the ‘grand coalition’ with the SPD to end four months of political limbo in Europe’s biggest economy. Read more Reuters

January 31, 2018
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31Jan

Fintech’s Answer To The Global Retirement Crisis

Fintech innovators have the multi-trillion-dollar global retirement income market in their sights.  An exciting example is the advent of blockchain-secured tontines as an alternative to traditional pensions and annuities. What in the World is a Tontine? A tontine is an investment pool managed in an actuarially fair way, according to a plan for distributing fully-funded payouts to investors.  There are two key differences between a tontine and an ordinary investment. First, tontines investments are generally irrevocable.  Second, account balances are not transferred to a...

January 31, 2018
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31Jan

UK. Carillion pension scheme was ‘ignored’

For 10 years, the Carillion pension trustees tried to get the company to pay in more money to the scheme without success. There was no agreement from 2008 onwards between the company and the trustees about the correct level of contribution over that decade and according to Robin Ellison, the chair of the trustees, there was precious little the guardians of the pension could do about it.   Read more BBC

January 31, 2018
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30Jan

Canada Pension Plan Investment Board Extends Cooperation with Longfor Properties to Develop Mixed-Use Sites in Chengdu and Shanghai, China

 Canada Pension Plan Investment Board (CPPIB) and Longfor Properties Co. Ltd (Longfor) announced today they are extending their cooperation to include two new mixed-use real estate development projects in Chengdu and Shanghai in China, for a total CPPIB commitment of approximately RMB 4,200 million (C$800 million). “We are pleased to extend our existing relationship with Longfor Properties, one of the top real estate developers in China, through these development projects in Chengdu and Shanghai. Both cities are well positioned to...

January 30, 2018
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