June 2020
19Jun

People in Germany are continuing to retire later and later

The average age at which people in Germany enter retirement has risen again over the past year, from 64,1 years in 2018 to 64,3 years in 2019. The age for women was particularly affected, mainly due to the Mother’s Pension II. Pension age for women rises sharply According to the German Pension Insurance Federation (Deutsche Rentenversicherung), the average age at which people start to draw their pensions has risen over the course of the last year. In 2018, the...

June 19, 2020
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18Jun

Boris Johnson Has ‘No Plans’ to Scrap Key U.K. Pension Pledge

British Prime Minister Boris Johnson has “no plans” to abolish a politically sensitive election pledge he made to the U.K.’s pensioners, despite fears among government officials that the policy could be at risk in the pandemic fallout. Officials are aware that the pensions “triple lock,” promised by the last three Conservative prime ministers as a guarantee that retirement incomes will keep rising, may have to be reviewed, a person familiar with the matter said. Johnson’s spokesman played down the...

June 18, 2020
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18Jun

Japan Mulls Resubmitting Legislation to Raise Retirement Age of Civil Servants

Japanese Prime Minister Shinzo Abe's government will consider resubmitting legislation to raise the retirement age for civil servants, its top spokesman said on Wednesday, after public backlash prompted the withdrawal of draft legislation. During the parliamentary session that ended on Wednesday, the government abandoned its push to enact legislation that would raise prosecutors' retirement age to 65 from 63, and let the cabinet defer retirement of senior prosecutors for a further three years. Critics and others argued it would...

June 18, 2020
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18Jun

Covid-19 pandemic: Africa is outperfoming the rest of the world

Obscured by the myriad stories of coronavirus global devastation are three headlines from the continent with no shortage of epidemics, man-made and natural disasters. That would be Africa. Of its 54 countries, six are among the top 10 fastest-growing economies in the world this year. The continent is the favorite bazaar for appreciating equity after Eastern Europe and has one of the stock market's best-performing industries: communications. Africa finds itself with fewer Covid-19 cases than other heavily...

June 18, 2020
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18Jun

US. Trump SEC Chairman Urges 401ks To Gamble Away Coronavirus Losses

By Edward Siedle Trump SEC Chairman Jay Clayton urges 401k plan sponsors and investors to gamble on private equity funds as a means of recovering coronavirus losses. Since when is it the job of the Chairman of the world’s premier securities regulator to encourage reckless risk-taking by American workers already reeling from pandemic losses? Last week, the U.S. Department of Labor opened the door for plan sponsors to add private equity funds to their 401(k) plans. The Trump administration claims...

June 18, 2020
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18Jun

Nationwide anger as Iraq announces pension cuts

Iraq is facing its worst economic crisis since 2003, worsened by the global drop in oil prices and the coronavirus pandemic. Mustafa al-Kadhimi’s government has proposed austerity measures, including capping the amount and number of state salaries and pensions people can receive. Many people rely on pensions and reparations from the government. Al Jazeera's Simona Foltyn reports from Baghdad, Iraq. Read more @Aljazeera

June 18, 2020
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17Jun

UK. Sustainable Investment And The Race to Zero Emissions During The Covid-19 Pandemic

The coronavirus disease (COVID-19) threw the world's health, economic and financial systems into disarray, but the pandemic did little to distract the U.K. from the climate crisis. A recent survey by Ipsos shows two-thirds of Britons consider climate change to be as serious as the pandemic, and the majority support a green economic recovery. Their voices are not unheard, since leaders at all levels of society are strategizing ways to "build back better" for our planet. The UN's...

June 17, 2020
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17Jun

Countless South Africans are owed pension benefits, and yet claiming is a constant battle

While few immediately associate youth issues with pensions, the reality is that many young people actively participate in and even depend on the pensions industry. This includes their participation in the ongoing struggle of millions to access more than R42-billion in pension benefits owed to individuals and families. Young people interact with the pensions industry in various ways. Some in formal employment already contribute to a pension or benefit fund or are considering which fund to choose. Those counted...

June 17, 2020
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17Jun

Netherlands moves closer to defined contribution system

The Dutch cabinet moved closer to a new agreement with employers, employees and unions that will see the country phase-out defined benefit arrangements by 2026. Following an initial "in principle" agreement in June 2019, talks over a new retirement legislation progressed on June 12 toward a new mandatory defined contribution system. The details of the system will be outlined in new legislation, which is expected to be in place by January 2022. The new legislation is expected to state...

June 17, 2020
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17Jun

UK. Pensions triple lock at risk from Covid-19 fallout

Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could soon become unaffordable because of the fallout from the coronavirus crisis. The UK chancellor’s willingness to break a 2019 Tory manifesto commitment is a sign of how the Covid-19 pandemic is forcing the government to confront political taboos. Mr Sunak has been warned that unless he breaks the pledge next year, the value of the state pension could...

June 17, 2020
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