News Archives - Page 892 of 922 - Pension Policy International

09JunJune 9, 2017

EU. Commission struggles with tax exemptions in EU-wide pension proposal

As part of the capital markets union mid-term review, the Commission announced it would submit a legislative proposal on a pan-European personal pension product by the end of this month. Dombrovskis told a group of journalists that the intention is to create a framework to enable providers to offer their pension schemes to customers across Europe. The goal is to correct the “unevenness” of the European market in this field, address the difficulties to switch between products and to facilitate the...

June 9, 2017

NewsEU

09JunJune 9, 2017

How Gold Can Rescue Pensions

The World Economic Forum, in conjunction with Mercers (the actuaries) recently estimated that the combined pension deficit currently stands at $66.9tr for eight countries, rising to $427.8tr in 2050. The eight countries are Australia, Canada, China, India, Japan, Netherlands, UK and US. Of the 2016 figure, $50.5tr is unfunded government and public employee pension promises. Yes, we are now talking in hundreds of trillions. Other welfare-providing states missing from the list have deficits that are additional to these estimates. $66.9tr is...

June 9, 2017

NewsUK

08JunJune 8, 2017

African Financial Institutions against Money Laundering: Challenge accepted

Africa has earned an unfair reputation of being a haven for money laundering and terror financing activity. There’s good reason for this. Africa has traditionally lagged behind developed markets in terms of promulgating legislation to combat money laundering. And where there is legislation, enforcement is lacking – and criminals have taken advantage. While South Africa is somewhat more mature than the rest of the continent, compliance with anti-money laundering (AML) legislation by banks in Africa is seen as a grudge...

June 8, 2017

News

08JunJune 8, 2017

India. Survey looks for what ageing India needs

Since April 1, teams in Gujarat have gone about meeting 4,000 people aged over 45 to assess their needs, the first step of a nationwide, 25-year exercise aimed at framing long-term policy initiatives for India’s ageing population. The Longitudinal Ageing Study in India (LASI), launched last year by the health ministry, has targeted a sample of 60,000 people over 45, whose health will be documented over 25 years. Gujarat began its fieldwork on April 1 this year, along with Daman...

June 8, 2017

NewsIndia

08JunJune 8, 2017

Germany. Merkel’s SPD Rivals Make Election Pledge to Keep Pensions Stable

BERLIN (Reuters) - Germany's Social Democrats (SPD) unveiled plans on Wednesday to keep pensions stable and cap contributions in an effort to win over voters in a September election and unseat conservative Chancellor Angela Merkel who is seeking a fourth term. The center-left SPD, junior party in Merkel's current right-left coalition, hopes its pension plans will help put the issue of social justice at the heart of the election, though it has not weighed very heavily so far among voters. The...

June 8, 2017

NewsGermany

07JunJune 7, 2017

Jamaica. Rebranded VM Pensions Management Plans Operations Overhaul

Prime Asset Management has changed its name to Victoria Mutual Pensions Management Limited to identify more closely with its parent company. The third-largest pension fund manager by assets under management is using the opportunity to refresh its operations and improve performance levels, according to CEO Rezworth Burchenson. "We have a robust pipeline of new investments," said Burchenson ahead of Tuesday's rebranding ceremony. They include upgrading VM Pension's investment management platform with a spend of over $100 million; upgrading the administration system;...

June 7, 2017

NewsJamaica

07JunJune 7, 2017

EU. Women at risk of poverty in retirement

Irish women typically retire on incomes that are more than 30 per cent lower than their male counterparts, a new report from Mercer reveals, as it calls on governments, policy-makers and employers to respond to the “urgent challenge” the pensions gap poses. According to the report, half of European Union states, including Ireland, have pension gaps of 30 per cent or more, while the EU average is 40 per cent. The gap means that a retired woman living in the EU...

June 7, 2017

NewsEU

07JunJune 7, 2017

India. School students paying staff pensions

Should a school student who has gained admission on full scholarship, after a national-level entrance examination, be forced to pay for the pensions and salary of his school staff? This is the question that the authorities who run the Sainik Schools are struggling to address. According to the estimates with the government, total expenditure on a Sainik School student is a minimum of ₹62,000 per year. Even in the case of students on a full scholarship, (excluding those from SC/ST and...

June 7, 2017

NewsIndia

07JunJune 7, 2017

UK. Nicola Sturgeon goes on the offensive at Tory ‘plunder on pensions’

Campaigning in the North East ahead of tonight’s STV debate, she made the point that a vote for Ruth Davidson's party would mean Tory MPs that would “rubber stamp” the cuts of Theresa May. Her appeal was to older voters who she claimed could make a crucial difference in an election that has seen the Tory throw away a 22 point lead and led to parties in Scotland asking for votes in anticipation of being kingmakers in Westminister. The SNP have...

June 7, 2017

NewsUK

06JunJune 6, 2017

US. High Court Expands Religious Exemption for Retirement Plans

The exemption in federal pension law for church retirement plans should apply even to plans not initially established by a church, the U.S. Supreme Court ruled Monday. This morning’s reversal stems from class actions against Advocate Health Care Network by current and former employees. Advocate runs 12 hospitals and 250 other health care facilities in Illinois. Though it is not a church, it has contractual relationships with the Metropolitan Chicago Synod of the Evangelical Lutheran Church in America and the Illinois...

June 6, 2017

NewsUS

June 2017