February 2017

21Feb

Moody’s: German regional governments’ pension reserves keep costs at sustainable level

German regional governments' pension credit risk is moderate due to their ability and demonstrated willingness to ensure sustainability, Moody's Public Sector Europe (MPSE) said in a report published today. Furthermore, the decision to build reserves to mitigate the expected rise in pension costs will keep annual payments at a sustainable level. The report, "German Regional Governments -- Small Pots, Big Impact - Pension Reserve Funds To Alleviate Budgetary Pressure", is available on www.moodys.com. Moody's subscribers can access the report using...

February 21, 2017
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21Feb

“Where Are Our Pensions?” Ask Citizens

A number of pensioners and citizens have taken the National Unity Government (NUG) to task for failing to abide by its commitments to them. This was after President Ashraf Ghani and CEO Abdullah Abdullah had earlier pledged to improve the quality of public services in government institutions. On Sunday pensioners and other citizens said things have become worse in the government institutions during the past two and half years since NUG leaders took the charge. They also said that public services in...

February 21, 2017
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21Feb

China stocks rebound on hopes of speedy pension fund investment; HK also up

China shares rebounded on Monday, led by wine makers and banks, after media reports said pension funds may begin flowing into the country's stock markets as early as this week. The bullish sentiment spread to Hong Kong, where the market also advanced but by a more modest margin. China's CSI300 index rose 1.1 percent to 3,457.94 points by the end of the morning session, while the Shanghai Composite Index gained 0.8 percent to 3,227.33, recouping losses on Friday. Blue chips were on...

February 21, 2017
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21Feb

Pension funds of seven Chinese regions entrusted for investment

Seven Chinese provincial-level regions, including Beijing and Shanghai, have started entrusting their pension funds to the National Council for Social Security Fund (NCSSF) for investment. A total of 360 billion yuan (52.33 billion U.S. dollars) is being transferred from scattered bank accounts operated by local authorities to the NCSSF for centralized asset management, the Economic Information Daily reported on Tuesday. The move is the latest effort by China to improve returns of its vast locally managed pension funds, which have traditionally...

February 21, 2017
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18Feb

Brexit-bashing Lords receive £500k in EU pensions a year and aren’t allowed to criticise Brussels… but won’t say so in Brexit debate

BREXIT-bashing peers are pocketing generous EU pensions which depend on them flying the flag for their Brussels paymasters. But they will not be required to declare their gold-plated income if they speak in this week’s crucial debate on Britain’s withdrawal. The EU forks out over £500,000 a year in pensions to 30 former MEPs and officials in the Lords. They include seven ex-European Commissioners who swore an oath of loyalty to Brussels that means they risk losing their pension if they attack...

February 18, 2017
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16Feb

The Changes Confronting the Investment Advisory Business

The investment advisory business is undergoing a once-in-a-generation transformation in the delivery of financial advice to individual investors. The changes are moving the industry toward higher standards of professionalism and transparency. But there is still a need for wealth management firms and financial advisers to do more. Many investors face a clear-cut savings shortfall — and a bewildering array of investment alternatives — and are challenged to accumulate sufficient wealth to meet the needs of longer life spans. Precisely when their need...

February 16, 2017
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16Feb

Tata Steel: Union workers back new pension plan

Thousands of Tata steelworkers have overwhelmingly backed a deal on the future of their pensions. They were asked whether they would accept moving from a final salary pension to a less generous scheme. Members of three unions at sites in Wales, Scotland, South Yorkshire and Teesside all supported the new proposals. Tata's offer included a £1bn investment commitment at Port Talbot and no compulsory job losses. The three unions at the Indian company's UK plants had recommended that their members, including 6,300 Tata...

February 16, 2017
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16Feb

Uganda: No Records for Pensioners – Government

Kampala — Government says it does not have records of pensioners due to "lack of data and personal files." According to the ministry of Public Service, many pensioners do not show up for verification thus leading to delays in payment of their monthly dues and the once off gratuity. The State minister for Public Service, Mr David Karubanga told MPs during plenary that the ministry will, carry out a census and biometric validation of pensioners starting February 20. "The ministry of Public...

February 16, 2017
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15Feb

U.S. insurers sense opportunity in unwanted pension plans

U.S. insurers are buying corporate pension plans at a record clip as rising interest rates and all-time high stock-market values give companies the perfect excuse to offload them. Calculating they can make more money from selling companies an annuity to cover the cost of the pension plans and then invest the proceeds in bonds and other securities, insurers are competing to persuade corporate America to sell them their pension risk. These deals, known as pension risk transfers, have been around for...

February 15, 2017
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