News Archives - Page 895 of 922 - Pension Policy International

26MayMay 26, 2017

US. A Step Backward in Financial Regulation

The scarring experience of the financial crisis of 2008, and the federal government’s actions to avert widespread chaos in the financial system, remain poorly understood events across the political landscape. Although Congress enacted the Dodd-Frank Act in 2010 to prevent such crises from recurring, some of its provisions reflect that poor understanding. Rather than surgical precision, Dodd-Frank took an inefficient broad-brush approach to making the financial system safer. And despite being overly burdensome, it failed to address a range of...

May 26, 2017

NewsUS

26MayMay 26, 2017

Nigeria’s pension fund calls authority to increase coverage

The Interim Chairman of the Management Committee of the First Guarantee Pensions Limited Comrade Issa Aremu has called on the new management of the National Pension Commission (Pencom) to increase contributory pension scheme enrollment figure. He made this call at a news conference in Abuja. Aremu, who is also the General Secretary of National Union of Textile, Garment and Tailoring Workers of Nigeria, noted that the current enrolment of less than seven million subscribers in the National Pension Commission was...

May 26, 2017

NewsNigeria

26MayMay 26, 2017

UK. Pensions are sitting on a global time bomb, warns WEF

The world’s biggest economies are sitting on a $70 trillion (£54 trillion) pensions time bomb that will balloon to more than $400 trillion within four decades unless policymakers take urgent action, the World Economic Forum has warned. Analysis by the WEF showed the six countries with biggest pensions – the US, UK, Japan, Netherlands, Canada and Australia – as well as China and India – the two most populous countries in the world – faced a retirement savings gap of $428 trillion in 2050,...

May 26, 2017

NewsUK

25MayMay 25, 2017

US. Why tax reform could take away some of the benefits of retirement saving

Retirement saving in typical employer plans – both defined benefit pension and 401(k) plans – is tax advantaged because the government taxes neither the original contribution nor the investment returns until they are withdrawn as benefits at retirement. If the saving were done outside a plan, the individual would first be required to pay tax on their earnings and then on the returns from the portion of those earnings invested. Deferring taxes on the original contribution and on the investment...

May 25, 2017

NewsUS

25MayMay 25, 2017

Malaysia is ageing

We are getting old. The statistics show Malaysia's inevitable march towards a difficult milestone - that of an ageing nation. An ageing society is defined as having a minimum seven per cent of its population aged 65 and older, while an aged nation has 14 per cent or more in that age group. The United Nations Economic and Social Commission for Asia and the Pacific's 2016 population data sheet shows that as of last year, Malaysians aged 60 and above comprise...

May 25, 2017

NewsMalaysia

25MayMay 25, 2017

A Third of Older Latinos Have Tapped Into Retirement Savings

Suddenly jobless and with small children to support, Jose Victor Camargo without hesitation cashed out a retirement account he had with his former employer. That was more than a decade ago, and the father of three used the money to pay for rent and stay afloat until he found another job. "We are always in need, so I used the money," he said in Spanish. "We were struggling. We tried to make the money stretch." An Associated Press-NORC Center for Public...

May 25, 2017

NewsUS

25MayMay 25, 2017

AMP bucks the trend with China pension push

AMP chief executive Craig Meller let the two executives running his China joint ventures make the opening presentations at the company's strategy day on Thursday. This was mostly out of courtesy to his guests, which is an important part of doing business with China, rather than a subtle signal that China will take precedence over the Australian businesses. China is an important growth engine for AMP but is still a relatively small part of the company, which has plenty of work...

May 25, 2017

NewsChina

25MayMay 25, 2017

S.Korea’s pension fund says to raise overseas investment to 40 pct by 2022

South Korea's National Pension Service (NPS), the world's third-largest pension fund, said on Thursday it will raise overseas investment to about 40 percent of assets by 2022, as it continues to diversify investment to minimise risk. The NPS, which had 564 trillion won ($504.34 billion) under management as of February, had 27 percent of assets invested overseas as at the end of 2016. The fund, which estimates assets of $2.2 trillion by 2043, said in a statement it aims to have...

May 25, 2017

NewsSouth Korea

24MayMay 24, 2017

US. Trump’s proposed retirement changes would have major impacts on current feds and retirees

It’s happened before; lawmakers and think tanks have offered their own proposals to change the federal retirement system. Despite a few initial worries, current federal employees and retirees have remained relatively unscathed. Yet that could change next year. Federal financial experts are sounding the alarm bells on the major changes to the federal retirement system included in President Donald Trump’s fiscal 2018 budget — proposals that they say would leave a significant impact on both current retirees and employees and...

May 24, 2017

NewsUS

24MayMay 24, 2017

UK. Government austerity demands that we die within our means

As we move towards the general election, we are paralyzed by what is probably the biggest single issue affecting ordinary people in the country: austerity. We are unable to fully understand both the economic madness of austerity and the true scale of the human cost and death toll that ‘fiscal discipline’ has unleashed. Since coming into power as Prime Minister, Theresa May has made a strategic decision not to use the word ‘austerity’. Instead she has adopted a more palatable...

May 24, 2017

NewsUK

May 2017