March 2020

23Mar

New ZealandTime to rethink everything especially super policy

When share markets crash, it becomes clear that shares are only ever a potential claim on resources. They have to be converted into money before they can command the basics of survival. When the music stops, few want to buy any more. Today’s share market crash reflects not just the bursting of a speculative bubble but also a loss of faith in the viability of the underlying businesses associated with tourism and travel. While housing is a real...

March 23, 2020
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23Mar

Kenya’s Pezesha wins CATAPULT: Inclusion Africa 2020 bootcamp

Thirteen Africa-focused fintech startups took part in CATAPULT: Inclusion Africa 2020, which helps companies focusing on financial inclusion to scale. Developed by the LHoFT Foundation, the programme provided selected startups with access to a tailor made program with intensive mentoring, coaching, peer-to-peer learning and dedicated workshops. It culminated in a bootcamp, with Kenya’s Pezesha, a peer-to-peer micro lending marketplace that connects lenders with high quality, underserved, low income borrowers, named overall winner. The other selected startups included three from...

March 23, 2020
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23Mar

A List Of Fintech Firms Providing Free Technology To Banks During The Coronavirus Crisis

To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment offers to financial institutions. Version 1: March 23, 2020 (52 companies) Company: 401GO Contact: www.401go.com/401gofaqs Offer: 401GO is a small business 401(k) platform. We are removing any fees other than the per participant per month fee ($9 per participating employee per month), which covers everything for a 401(k) plan (testing, notifications, payroll monitoring, filing of Form 5500, etc.). Use this code...

March 23, 2020
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20Mar

Australia. Social protection and viral recession

So far, Australia’s help for people displaced, self-isolating or ill has been far from generous. If the Australian Financial Review is right, the federal government is considering a new transitional income support payment for workers who lose their jobs because of the coronavirus crisis. Read also Australia. Veteran pensions set to increase The temporary payment, a central feature of a package that will be “more about survival than stimulus,” will be set at a higher rate than Newstart. Applicants won’t...

March 20, 2020
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20Mar

Dutch pension funds receive billions as additional collateral

Dutch pension funds received billions of euros as additional collateral on swap contracts last week in the wake of rapidly declining interest rates. Liability-driven investment managers at Achmea Investment Management and NN Investment Partners, which deal with swaps used by pension funds for hedging their interest risk, said that checking whether banks and central clearing houses could fulfill their obligations required a lot of attention. Last week, the 30-year swap rate – schemes’ main criterion for discounting liabilities –...

March 20, 2020
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20Mar

Australia. Veteran pensions set to increase

Veteran pension payments will increase in March in line with the biannual indexation process. Pension recipients including veterans, their partners, war widows and widowers across Australia will see the increase from 20 March 2020. Due to the calculation of pension rates on a daily basis, the first pension indexed on payday 26 March 2020 will comprise a component of both the old and new rates. The new pension rates will be fully effective from pension payday 9 April 2020....

March 20, 2020
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19Mar

Finnish unions, employers agree crisis proposals over coronavirus

Finnish trade unions and employers on Wednesday agreed measures to support the labour market and promote temporary changes in legislation to shore up the weakening economy, they said in a joint statement. “The troubles of companies are here and now. Businesses need ways to cope with the corona crisis,” said Jyri Hakamies, the head of industry federation EK. The package - which needs to be approved by the centre-left government - includes measures such as shortening the duration of...

March 19, 2020
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19Mar

UK. Coronavirus scams: greater risk of being a victim of pension fraud

Pension savers face a greater risk of being targeted by fraudsters, research from the All-Party Parliamentary Group on Pension Scams (APPG) has revealed. The government has advised more people to stay at home amid the coronavirus crisis, which could increase their chances of being contacted via phone or online. Investment markets plunging over recent weeks may also make people more susceptible to pension scams as they attempt to recover losses from their retirement savings. The figures show...

March 19, 2020
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19Mar

Nigeria: Backlog of Unpaid Pensions, One of My Worst Pains ― Ortom

Governor Samuel Ortom of Benue State has apologized to retirees and workers of the state over the inability of successive governments to find lasting solution to the nagging backlog of unpaid pensions in the state. The Governor who tendered the apology in Makurdi while flagging off Contributory Pension Scheme, CPS, for the state workforce, said the huge pension liabilities he inherited was one of the unpleasant realities his administration had been battling with. He said "the pension problem was...

March 19, 2020
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19Mar

UK. Future renting pensioners could struggle in retirement

By Sophie Smith An increase in renting could see future pensioners struggle to achieve an adequate standard of living, as the number of pensioners renting looks set to double by 2046, the Pensions Policy Institute (PPI) has warned. The PPI published its research paper, To Buy or not to Buy: the Changing Landscape of Housing in Retirement, in conjunction with Scottish Widows, exploring the implications of the changing housing market on future retirement needs. Based on current trends, the report...

March 19, 2020
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