March 2017

06Mar

Arcadia to double pensions payments as Sir Philip Green charts comeback

Sir Philip Green’s Arcadia Group is to double its top-up payments to its pension scheme, in another step in the billionaire businessman’s bid to regain credibility. Arcadia, the parent company of high street brands such as Topshop and Dorothy Perkins, plans to increase its annual payments into the scheme from £25m to £50m in order to tackle the fund’s deficit. The latest figures showed Arcadia’s deficit was around £190m, but a revaluation process which happens every three years and is currently...

March 6, 2017
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06Mar

Nigeria: Organized labour tackles Government over conflicting pension law

The leadership of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have threatened showdown with Ebonyi State Government over conflicting pension legislation being considered by the Ebonyi State House of Assembly. The two labour centres expressed the concerns via a joint letter dated 21st February, 2017, sent to Governor David Umahi of Ebonyi state and co-signed by Ayuba Wabba, NLC President and Boboi Kaigama, TUC President, respectively. The unions in the letter which was also sent to the Secretary to...

March 6, 2017
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06Mar

Ireland: Pension schemes called to step in and close gap in green energy

Eyebrows may have been raised worldwide by Donald Trump's selection of oil-drilling advocate Rick Perry as his energy secretary, and of climate-change sceptic Scott Pruitt as head of the Environmental Protection Agency. But, these and other fossil-fuel-friendly picks may actually lead to investment opportunities in renewable energy and sustainable natural resources. Any drop in funding from political sources represents an opportunity for investors to bridge the gap. As a result, Mr Trump's election and his climate-change-sceptic cabinet may increase the role...

March 6, 2017
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03Mar

World’s Biggest Pension Fund Posts Record $92 Billion Gain

The world’s biggest pension fund posted the biggest quarterly gain in its history as Japanese stocks surged and a plunge in the yen boosted overseas investments after Donald Trump’s election victory. The Government Pension Investment Fund returned 8 percent, or 10.5 trillion yen ($92 billion), in the three months ended Dec. 31, increasing assets to 144.8 trillion yen, it said in Tokyo on Friday. Domestic equities added 4.6 trillion yen after the benchmark Topix index recorded its best quarterly performance...

March 3, 2017
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03Mar

Macron takes aim at pension reform, lawmakers, in campaign manifesto

Presidential challenger Emmanuel Macron on Thursday said he would root out inequalities in France's pension system, sell government stakes in major firms and downsize parliament as he sought to silence critics who say his bid is thin on substance. Macron, a former investment banker running as an independent centrist, is favorite to win the unpredictable race in a May runoff against far-right leader Marine Le Pen. Macron owes some of his status as frontrunner to a financial scandal plaguing his other...

March 3, 2017
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02Mar

Hundreds of thousands drift towards costly pensions tax trap

Almost a year after the reduction of the pension lifetime allowance to £1m, growing numbers of workers risk tax shocks because they are unknowingly on course to exceed this limit. Workers in their 40s and 50s with previous final salary type pension benefits are most at risk. Rising stock markets and baffling rules make it hard for people to appreciate the danger. Despite calls to scrap the lifetime allowance, which has been called a tax on good investment performance, the Government...

March 2, 2017
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02Mar

Top 4 retirement saving ideas

It's America Saves Week, an annual reminder for us all to put good savings habits into practice. Wondering where to start? We asked over 1,000 401(k) investors in our latest DC Pulse Survey . Here are their top retirement saving tips-and advice on how to make them your own. 1. Don't wait until it's raining to fix the roof. Confidence in retirement savings is up 64% compared to last year's survey , in part, because recent investment performance has been relatively...

March 2, 2017
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02Mar

PENCOM applauds Kaduna State on successful implementation of Pension Scheme

The Director General (DG), National Pension Commission; Chinelo Anohu-Amazu has commended the Kaduna State Government on the commencement of payment of retirement benefit under the Contributory Pension Scheme (CPS) in Kaduna State. According to a statement, the state Governor, Mallam Nasir Ahmad El-Rufai was also praised for not only sustaining the policy of previous administrations in the State on pension administration, but injecting a new lease of life into it and ensuring that the change process is accentuated and consummated. The...

March 2, 2017
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02Mar

Dominic Chappell to fight legal action forcing him to pay BHS pensions

Dominic Chappell, the last owner of BHS, has pledged to fight legal action by the Pensions Regulator designed to force him to pay millions of pounds into the failed retailer’s pension scheme, saying the black hole in the scheme was not his fault. The regulator has agreed a £363m cash settlement with Sir Philip Green to rescue the BHS pension scheme and halted legal proceedings against the billionaire. However, it is continuing with legal action against Chappell and his company...

March 2, 2017
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02Mar

Public remains divided over role of government in financial regulation

As Donald Trump and congressional Republicans take steps to roll back Obama-era financial regulations, the public remains divided over whether regulations of financial institutions have gone too far or not gone far enough. Overall, about half of Americans (49%) say “the government has not gone far enough in regulating financial institutions and markets, leaving the country at risk of another financial crisis,” while 42% say the government has gone too far, “making it harder for the economy to grow.” These...

March 2, 2017
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