News Archives - Page 934 of 950 - Pension Policy International

13AprApril 13, 2017

Romanian SocDem leader lashes at Dutch pension fund manager and financial regulator head for spreading “fake” information

Liviu Dragnea, the head of the Social Democratic Party (PSD), accused the local subsidiary of Dutch insurance group NN of spreading false rumors about the possible nationalization of the local private pension funds and inciting its clients to protests and called for a harsh reaction from the authorities against the company. He also accused the president of the Financial Supervisory Authority (ASF) Misu Negritoiu, a former ING Romania CEO, of having started the whole scandal on the nationalization of private...

April 13, 2017

NewsRomania

12AprApril 12, 2017

Pension cuts in 2019 to affect some 850,000 beneficiaries in Greece

Pension rates in crisis-battered Greece are set for another round of reductions in 2019, a downward trend that commenced with the advent of the economic crisis in 2010 and the subsequent implementation of bailout-mandated reforms. The latest draft agreement between Athens and institutional creditors is forecast to lead to a weighted average decrease of up to 22 percent for currently allocated monthly pensions. As previously and repeatedly reported, the reduction in social security spending will equal one percent of GDP...

April 12, 2017

NewsGreece

12AprApril 12, 2017

Japan stems rate of population decline, but growing pension burden looms

Japan’s population will fall nearly a third by 2065, with almost 40 per cent aged 65 or older and the working population labouring under a tougher pension burden, although the pace of population decline has slowed slightly, a government agency said yesterday. Solutions to Japan’s population slide have eluded policymakers for decades, putting finances under growing pressure as demand for pensions surges. In 2015, the government established a new Cabinet minister with the task of keeping the population from slipping below...

April 12, 2017

NewsJapan

12AprApril 12, 2017

The older expats facing poverty – thanks to Brexit and frozen pensions

Anne Puckridge isn’t scared for her future yet. But thanks to the post-Brexit fall in the value of the pound, that time may soon come. When the 93-year-old second world war veteran and lecturer moved to Canada in 2001, she expected to live in modest comfort on her UK pension. What she hadn’t realised, however, was that pension would be frozen at the amount it was worth at the time she moved to North America at the age of 76. “The...

April 12, 2017

NewsUK

11AprApril 11, 2017

US. Pension Fund Reforms in the Wake of the Great Recession

Pension plans are still recovering from the enormous losses suffered in the wake of the Great Recession. According to the Federal Reserve, state and local pension fund asset values fell from $3.2 trillion at the end of 2007 to $2.1 trillion in March 2009, increasing pension costs at a time when state and local governments faced severe losses in revenue. More recently, the California Public Employees Retirement System (Calpers), the country's largest public pension fund, announced in December 2016,...

April 11, 2017

NewsUS

11AprApril 11, 2017

In Africa, the opportunism of private-equity investors aligns nicely with improving social welfare

Arguably, the turning point in the 2012 US presidential elections between incumbent president Barack Obama and Mitt Romney was the leaking of a recording of the former Utah governor’s infamous “47%” comment. The comment was a reference to a certain segment of US society being freeloaders while everyone else paid their way. It was leapt on by the Obama campaign to build on Romney’s characterization as the evil private-equity man who became a billionaire by stripping businesses of assets and...

April 11, 2017

NewsAfrica

11AprApril 11, 2017

UK Pensions minister: lifetime allowance is more than enough to retire on

The £1 million lifetime allowance (LTA) allows people to save four times what they need to reach an average retirement income, according to pensions minister Richard Harrington. Since 2011 the LTA has fallen from £1.8 million to its current level of £1 million. People who breach the £1 million limit over a lifetime face penalties of up to 55% when they receive their pension. The policy, which collected HM Revenue & Customs (HMRC) £126 million for the 2015/16 tax tear according to...

April 11, 2017

NewsUK

11AprApril 11, 2017

Australia’s Biggest Pension Fund Eyes US Infrastructure

President Donald Trump’s plan to fix America’s crumbling infrastructure with $1 trillion of private and public investment over a decade is drawing interest from 10,000 miles away. AustralianSuper Pty, Australia’s biggest pension fund with over A$100 billion ($75 billion) in assets, is eyeing the US market for infrastructure debt and equity investment prospects, said Mark Delaney, its Melbourne-based chief investment officer. “Anyone who has traveled to the US would say there are aspects of the infrastructure that could do with updating,”...

April 11, 2017

NewsAustralia

10AprApril 10, 2017

President Trump Just Cost Americans Saving For Their Retirement $3.7 Billion

Donald Trump talked a big game on the campaign trail about standing up to big corporations and putting the interests of hardworking Americans first. But as president, Trump has repeatedly broken his promises – and now, he’s dealing a blow to Americans saving for retirement. In February, he set in motion a process to kill a common-sense rule that would keep financial advisers from siphoning off money from the clients who trust them. Right now, predatory financial advice cheats investors out...

April 10, 2017

NewsUS

07AprApril 7, 2017

Brazil government sees no risk to austerity in pension reform changes

Proposed changes to the Brazilian government's pension reform proposal do not threaten an ongoing overhaul of government finances, the finance ministry said in a statement on Thursday. Brazil's real weakened and local stocks fell on Thursday over doubts whether President Michel Temer will be able to secure approval for a pension reform designed to rebalance the country's depleted accounts. Full Content: Reuters Remember to subscribe to our free weekly newsletter for more news or subscribe to our service to get unlimited access.

April 7, 2017

NewsBrazil

April 2017