December 2024
11Dec

Rising Pension Poverty in Germany: A Growing Number Below Minimum Living Standards

The issue of pension poverty is increasingly prevalent in Germany, with a significant portion of the elderly population receiving pensions that fall below the established minimum living standard. Recent statistics reveal that the situation is worsening, as more seniors struggle to meet their basic needs. As of the end of 2023, the minimum living standard for pensioners, as defined by the basic security benefits in old age, was set at 942 euros per month. Approximately 7.9 million individuals in Germany...

December 11, 2024
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10Dec

UK pensions are £283bn worse off than we thought. Time to panic?

The Pension Protection Fund’s annual Purple Book is almost universally regarded as the authoritative “state of the nation” guide to the UK’s private sector defined benefit schemes — their assets, liabilities, sizes, number and asset allocations. And given that this class of fund commands close to one and a half trillion pounds of assets, their actions are of wide interest. The headline from last year’s almanac was that these DB schemes — in aggregate — could afford to ‘buy-out’. That...

December 10, 2024
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10Dec

Performance, liquidity concerns affecting investors’ private markets decisions

Almost 90% of institutions investing in private markets will not re-invest with their existing managers over the next 12 months, according to new research – with many citing poor performance. Coller Capital’s latest Global Private Capital Barometer found that 88% of limited partners – institutions such as pension funds buying into private markets wouldn’t increase allocations to their existing manager relationships next year. The report said this trend had been building over the past year, with almost 80% of respondents saying...

December 10, 2024
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10Dec

South Korea. Number of newlyweds falls below 1 mil. in 2023, nearly half childless

The number of newly married couples in Korea dropped below 1 million for the first time in 2023, with nearly half without children, data showed Tuesday. Newlyweds refer to couples who had been married for five years or less. In 2023, the number came to 974,000, down from 1.03 million the previous year, according to the data from Statistics Korea. This marks the first time the number of newlyweds has fallen below 1 million since the agency began collecting relevant data in...

December 10, 2024
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10Dec

31% of Canadian employees rely on gig work to help cover expenses: survey

A third (31 per cent) of Canadian employees say they rely on gig work in some capacity to help cover regular expenses, according to a new survey by ADP Canada. The survey, which polled more than 1,200 employees, found among gig workers, 17 per cent said gig work is their primary source of income for covering expenses. The main industries solicited by gig workers are transportation, retail and grocery. On a scale of one to 10, workers reported an average happiness...

December 10, 2024
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10Dec

Belgium. Staggering Pension Gap Revealed: Shocking Differences Between Civil Servants and Workers

The ongoing formation of a new federal government in Belgium, led by Bart De Wever, is facing significant challenges. A key issue at the forefront is the pension reform aimed at achieving substantial savings. As Stijn Baert highlighted on ‘De tafel van Gert’, the disparity between public and private sector pensions raises questions. How can this gap be addressed effectively? Fast Answer: Belgium’s pension reform discussions reveal a stark contrast between public and private sector pensions, with civil servants earning significantly more. This...

December 10, 2024
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09Dec

How Far $750K Plus Social Security Goes in Retirement in Every US Region

A recent study by GOBankingRates broke down just how far $750,000 in combined savings and Social Security would last for someone’s retirement in each state of the union, considering such factors as housing markets, healthcare costs and varied cost of living expenses across America. Such a list, though, can be a bit overwhelming at first, especially for someone just in the beginning stages of planning their retirement, and where to experience it. With that in mind, GOBankingRates has condensed that deep-dive...

December 9, 2024
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09Dec

How widening inequalities signal a warning for the UK pension system

The government has made a commitment to “tackle all the inequalities that pervade our society” in “a fairer Britain, where everyone lives well for longer”. But what does inequality mean for pensions and, ultimately, for living standards in later life? That’s the question that underpins a report we published last month. For many people, income inequality is the first thing that comes to mind when we talk about inequality in the UK, and for good reason. The UK has had higher income inequality...

December 9, 2024
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09Dec

Pakistan. Can lower retirement age cut pension bill?

THE country’s federal pension bill currently exceeds Rs1tr, with Rs260bn allocated for civil servants and Rs750bn for armed forces. Its magnitude is as staggering as its growth rate, which is outpacing the increase in revenue, making it unsustainable without holistic reforms. As it stands, the government is spending more on pensions than the cost of running the bureaucracy. Successive governments have tried to implement reforms to cut the pension bill with the most recent proposal being lowering the retirement age by five years from 60...

December 9, 2024
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09Dec

US. Florida to invest $1.85B from pension fund in Bitcoin

Florida plans to invest $1.85 billion from its pension fund into Bitcoin to take the lead in using cryptocurrency, with support from state leaders and the Florida Blockchain Business Association. Florida is planning to invest $1.85 billion from its state pension fund into Bitcoin, aiming to lead in cryptocurrency adoption. Backed by the Florida Blockchain Business Association (FBBA) and pro-crypto leaders, this move could change how states use digital assets in their financial plans. Florida to invest $1.85 billion in Bitcoin Florida’s $185.7...

December 9, 2024
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