May 2020
25May

South Africa. Eskom must tackle the cost of its coal contracts

By Vuslat Bayoglu The lockdown is imposing additional financial strain on Eskom and necessitates urgent solutions to get the company on a sustainable path beyond Covid-19. It is estimated Eskom will lose between R2.5 billion and R3 billion in revenue per month due to the low electricity demand triggered by the national lockdown. This will compound existing problems: R450 billion debt, maintenance arrears, costly Medupi and Kusile faults, and money lost during state capture. The other perennial problem, perhaps...

May 25, 2020
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25May

How will the current financial climate affect UK pensioners?

By Rebekah Evans Pension saving often involves a lot of forward planning, with key decisions having to be made at particular times within a person’s life. However, due to the economic and financial disruption brought about by coronavirus, many savers have expressed uncertainty in the current pension market. Read also Transaction costs make up 37% of UK pension investment costs: CACEIS It is feared pension savings could potentially be at risk, and a significant number of savers are looking for ways...

May 25, 2020
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22May

US pension funds approach point of no return

The issues facing public pension funds in the US are widely known, and while it's not clear how exposed to the recent market correction funds were, analysis from Wirepoints of 2018 data shows some may have reached the point of no return. Looking at asset-to-payout ratios of 148 state and local pension funds with more than US$2 billion in assets, the worst-off funds are those that are already well known for their pension shortfalls. These are in Kentucky, Illinois,...

May 22, 2020
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22May

The Economic Commission for Latin America and the Caribbean proposes Universal Basic Income

The Economic Commission for Latin America and the Caribbean, a regional organism of the United Nations Secretariat has declared itself in favour of a new regime of welfare and social protection that includes the gradual, progressive and sustained establishment of universal basic income in the region of Latin America and the Caribbean. Read also World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus) On May 12th, its executive secretary, Alicia Bárcena, presented the 3rd Special Report COVID-19:...

May 22, 2020
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22May

Working In Retirement: What You Need To Know Now

It’s common to assume that once you’re retired, your working days are over. But that’s not always the case. Whether it’s financially necessary or just a way to stay busy, a lot of people end up with a post-retirement career. If you think you’ll need or want to continue working to some degree after you retire, it’s important to start planning years ahead. Here are three different paths you can take for a post-retirement career—and important aspects of each...

May 22, 2020
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21May

Large European companies fall short on ESG disclosure – report

Many of Europe's largest public companies are not adequately disclosing their environmental and climate-related risks, according to a report being released Tuesday by the Climate Disclosure Standards Board. The CDSB looked at Europe's 50 largest companies, with a combined market cap of $4.3 trillion, and found that in 2019, despite European Union reporting guidelines, 78% of them did not adequately report climate and environmental risks, and 42% omitted potentially material environmental or climate-related information for their sector. Also, 1...

May 21, 2020
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21May

India. Lack of social security for women in informal economy needs to be addressed

It was in the middle of the second lockdown. Ayeshaben, a home-based garment worker suddenly experienced chest pain. Her son, Asif, a tailor, requested one of his customers to take his mother in his rickshaw to the hospital. Thankfully, Ayeshaben has been taking insurance cover with SEWA’s insurance cooperative, VimoSEWA, for the last 15 years. Her claim of Rs 5,000 was processed online after Asif sent all her documents via WhatsApp. There are millions of Ayeshabens in this country....

May 21, 2020
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21May

Latvian prime minister admits need to review retirement pension system

State Audit has concluded the retirement pension system costs the state budget EUR 74 million annually, but the amount of commitments or the amount needed to pay retirement pensions in the future is estimated at EUR 4.5 billion. State auditor Elita Krūmiņa pointed towards problems uncovered in the retirement pension system, urging to review it. Commenting on State Audit’s conclusions, Kariņš admitted the retirement pension system should be reviewed. However, specific proposals, he said, should come from Welfare Ministry....

May 21, 2020
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21May

How COVID-19 impacts asset allocation strategy of pension funds

The National Bureau of Statistics is expected to release Nigeria’s pension asset data for the first quarter of the year, next week. Ahead of the release, we’ll take a look at how the global Covid-19 pandemic is impacting the asset allocation strategy for pension fund administrators. Joining CNBC Africa more is Niyi Falade, CEO of Crusader Sterling Pensions. Watch video @CN Africa

May 21, 2020
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20May

World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus)

The World Bank Group today announced its emergency operations to fight COVID-19 (coronavirus) have reached 100 developing countries – home to 70% of the world’s population. Since March, the Bank Group has rapidly delivered record levels of support in order to help countries protect the poor and vulnerable, reinforce health systems, maintain the private sector, and bolster economic recovery. This assistance, the largest and fastest crisis response in the Bank Group’s history, marks a milestone in implementing the Bank...

May 20, 2020
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