February 2020

07Feb

Coronavirus fallout hits pensions and ISAs as investors urged not to flinch

The first day back to work after a long holiday is always a bit grating. But for those logging in at the Chinese stock market for the first time since the coronavirus outbreak, all bets were off. Read also Super funds push for lower pension age for Indigenous Australians The rest of the world’s markets have been riding the waves of coronavirus-induced volatility for weeks now as the infection spreads, while the epicenter remained economically silent. Read also Pension inequality:...

February 7, 2020
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07Feb

Nigeria. Investing pension funds

Money saved by public and private sector workers in Nigeria for their pension under the National Pension Commission (PenCom) reached the N10 trillion mark in 2019, that is, after 15 years of consistent saving. The National Pension Commission, the regulatory body watching over private-sector pension entities that are the Custodians of the money and Pension Fund Administrators that operate like fund retailers, are the ultimate trustees of the pension money owned by about nine million Nigerians. The N10 trillion...

February 7, 2020
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07Feb

The pension crisis of Latin America

The privatisation of the pension fund system in Latin America was hailed as one of the most important developments of the 1990s. A major challenge for developing countries is the lack of local savings. By definition, developing countries are in transition. They need a great deal of capital to modernise their infrastructure and improve their workforce through better education and health systems. This left most countries highly dependent on international capital flows. The problem is that international capital flows...

February 7, 2020
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07Feb

World’s Largest Pension Fund Gains on Stocks, Foreign Debt

The world’s biggest pension fund posted a gain for a fourth consecutive quarter, with foreign stocks providing the best return among assets amid a thaw in trade tensions between the U.S. and China. Japan’s Government Pension Investment Fund returned 4.6%, or 7.4 trillion yen ($67 billion), in the quarter ended Dec. 31, with assets totaling 168.9 trillion yen, it said Friday in Tokyo. Foreign stocks were the fund’s best performing investment, gaining 9.7%, while domestic equities added 8.6%. The...

February 7, 2020
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07Feb

CDPQ Goes Local for Private Credit in India

Caisse de dépôt et placement du Québec, which manages funds primarily for Canadian public and parapublic pension and insurance plans, has formed a partnership with Piramal Asset Management Private Limited to invest in illiquid credit opportunities in India. The two organizations will invest US$300 million, with 75 percent of the money coming from CDPQ and the remainder from Piramal. CDPQ oversees C$326.7 billion (US$246 billion) in net assets. CDPQ’s partnership with Piramal, an India-based manager that is part...

February 7, 2020
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06Feb

Greek public sector workers to strike over pension bill on Feb. 18

The civil servants’ union ADEDY has called a 24-hour strike for February 18 in protest at the conservative government’s legislation on pensions which is to go before a vote in Parliament this month. According to ADEDY, the bill perpetuates austerity measures introduced by governments during the crisis years, including auxiliary pension cuts of up to 50 percent. The union is calling for the revocation of all pension cuts imposed during the country’s financial crisis, the return of the so-called...

February 6, 2020
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06Feb

Ageing and the Elderly in Rwanda – The Missing Voice

By Francis Davis In June the Commonwealth Heads of Government (CHOGM) will meet in Kigali the capital of Rwanda . They have chosen ‘youth’ as their theme. Despite its ferocity the Rwandan genocide remains a closed book to many outside central and East Africa. While the UN dithered and major global newspapers failed to despatch reporters to cover the carnage, 800,000 people were murdered - often by hand - in a few short months. Many in London,...

February 6, 2020
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06Feb

French strikes pass two-month mark with protest planned for Paris

French unions have called for another national day of protest against the government’s pension reform plan on Thursday - the day the plans come before the French parliament. But, two months in to the social movement, the level of disruption was expected to be low compared to what the country saw in the early days of the social movement. Transport is running almost as normal across the country - even in Paris, which was the area hardest hit by...

February 6, 2020
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06Feb

Retirement Planning: Why millennials need to start saving early

The young cohort of Indian population - Millennials - must realize the evolving scenario and appreciate the importance of saving early for a better post-retirement life. Globalization, innovation, advances in science and technology — our world is changing rapidly amid these developments. Many of these trends are so impactful that they can be considered megatrends. Changes brought about by such magnitude are already shaping societal constructs, how people lead their daily lives, plan for their future, and, ultimately, prepare...

February 6, 2020
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05Feb

FTSE 350 pension deficit increases sharply as UK exits EU

Mercer’s Pensions Risk Survey data shows that the accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies increased from £40bn at the end of December 2019 to £57bn on 31 January. Liability values increased by £34bn to £916bn compared to £882bn at the end of December. The increase was primarily driven by falls in corporate bond yields. Asset values were £859bn (an increase of £17bn compared to the corresponding figure of £842bn at...

February 5, 2020
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