July 2017

27Jul

Australia’s Biggest Pension Fund Flags Equities, Local Property Risks

Australia's largest pension fund, AustralianSuper, is preparing for the end of the global equities run and looking to infrastructure opportunities in the United States where it believes foreign firms will in time gain greater access. AustralianSuper is a A$120 billion (£73.53 billion) fund that seeks out major positions, chief executive Ian Silk said at a Reuters Newsmaker event on Thursday in Sydney, that can affect its burgeoning book. Silk said an equities rally - Australia's benchmark has gained 43 percent since...

July 27, 2017
News, Slider
Read more...
27Jul

EU. ECB asks pension funds for more data

The European Central Bank will require euro zone pension funds to disclose more detailed data on their operations, arguing that it lacks proper visibility in a huge sector that is vital for the transmission of monetary policy, it said on Wednesday. With 50 million customers and 2.5 trillion euros ($2.9 trillion) in assets, pension funds are among the biggest and fastest-growing investors. That makes them vital for the ECB in gauging the success of its policy, particularly in a period of...

July 27, 2017
News, Slider
Read more...
26Jul

UK. We see no reason why the State Pension Age should go beyond 66

The House of Commons has just risen for its summer recess, and it’s safe to say that MPs have a lot to reflect on over the next few weeks after a pretty eventful year. While a lot of the focus has rightly been on Brexit, given it has such huge implications for all of us, there is an important job to do in holding the Tories to account on the day-to-day business of government. One of the last announcements the Tory...

July 26, 2017
News, Slider
Read more...
26Jul

Swiss Pension Fund Buys Bank

A first in Swiss banking: a pension fund is buying up a private bank in Switzerland with a view to creating a pension-focused bank. It stands out among the raft of recent deals in Switzerland: Tellco Vorsorge in central Switzerland is buying Zurich-based Dominick Private Bank. Together, they will become Switzerland's first pension-focused bank, the two said in a statement on Tuesday. While consolidation has been rife among private banks in recent years, the move marks the first time a pension...

July 26, 2017
News, Slider
Read more...
26Jul

Netherlands. Binck Bank launches robo-advised Pension

Dutch online bank Binckbank broadens its portfolio of service with Binck Pension. With this product, Binckbank enters the emerging Dutch market of individual pension plans. Brink Pension is a life annuity that enables clients to build an individual (supplementary) pension with fiscal benefits. This service uses the same robo-advisory technology as Binck Forward. With the desired pension date, the model is able to adjust portfolio risks as the pension date approaches. Brink Forward is formerly known as the online wealth...

July 26, 2017
News, Slider
Read more...
26Jul

UK. NOW: Pensions exits regulator ‘assurance’ list after admin bungle in processing savers’ money

Workplace pensions provider NOW: Pensions has left a voluntary 'assurance' scheme operated by industry watchdogs after they raised concerns about the firm's administration and governance. But The Pensions Regulator stressed there was no suggestion savers' money was at risk, or that employers using NOW's services were not complying with duties to workers auto-enrolled into pension schemes. NOW admitted it was trying to sort out delays processing contributions from savers - an issue recently highlighted by This is Money after a reader's...

July 26, 2017
News, Slider
Read more...
25Jul

Medicaid, pension costs create budget complications for U.S. states: report

A sluggish forecast for U.S. economic growth as well as an increase in U.S. states' Medicaid and pension contribution costs is creating a budgetary squeeze in many state capitols, according to a research report issued by S&P Global Ratings on Monday. While the risk of a recession within the next 12 months has fallen into a 15-20 percent range from 20-25 percent, the rate of economic expansion "is expected to remain fairly anemic at 1.8 percent over the longer term...

July 25, 2017
News, Slider
Read more...
25Jul

Canada. Morneau Shepell releases the results of its Performance Universe of Pension Managers’ Pooled Funds

According to the report, in the second quarter of 2017, diversified pooled fund managers posted a median return of 0.7 per cent before management fees. "In the second quarter, the Canadian stock market underperformed by 1.6 per cent, while global stock markets posted positive returns. The rise in the Canadian dollar versus several foreign currencies had a negative impact on Canadian investors. For the second quarter in a row, emerging market equities dominated with the MSCI Emerging Markets Index returning...

July 25, 2017
News, Slider
Read more...
25Jul

US. Women’s Retirement Income Literacy Is Lower Than Men’s

Women at retirement age, those between the ages of 60 and 75, understand the components of retirement income far less well than men of the same age, although even men don’t grasp the topic very well, the RICP Retirement Income Literacy Survey from The American College of Financial Services found. Only 18% of women passed the quiz, compared to 35% of men. A mere 16% of women answered questions about annuity products in retirement correctly, compared to 24% of men....

July 25, 2017
News, Slider
Read more...
24Jul

Zambia. Retirement should be a happy time

RETIREMENT is for every worker, whether in full-time employment or otherwise, because one comes to the end of their strength and they have to rest. The end of work, for most workers, means their assured source of income – the salary – also ceases to come. That is why Government put in place pension schemes so that employees can have some sound financial stability during and after work life. We have seen how some pension schemes have enabled employees, as contributors, to...

July 24, 2017
News, Slider
Read more...