January 2020

30Jan

Estonia. Reform leader: We’ll use every means possible to halt pension reform mess

Reform Party leader Kaja Kallas says that the large number of proposed amends opposition parties made to the coalition's pensions reform bill to be vote on today were needed, given its huge socio-economic impact, and that she and her party intend to fight the bill every step of the way. "What worries them most is the pension system being dismantled in the way it is," Kallas said, speaking on ETV politics discussion show "Esimene stuudio" Tuesday night. "The experts...

January 30, 2020
News, Slider, , ,
Read more...
30Jan

Dutch sector schemes active on online comms to cut costs

Several large Dutch sector schemes are actively trying to persuade their participants to pass on their email addresses in order to save on communication costs and for sustainability reasons. They are finding, however, that the process is laborious, and that they have a long way to go before they no longer need the postman and can save millions of euros through digital correspondence. Although most schemes already have an online platform and prefer digital communication, the main hurdle is...

January 30, 2020
News, Slider, , ,
Read more...
30Jan

The 7 biggest fintech trends to watch in 2020

Fintechs have done it again. It's clear that investors' appetite for fintech grew in 2019. We continue to be blown away by the level of innovation in the financial services ecosystem, created by companies looking to enable incumbent financial institutions and other early-stage businesses looking to disrupt the status quo. We also continue to see a proliferation in the number and types of firms providing financial products and services to consumers, from traditional banks to technology and ecommerce businesses....

January 30, 2020
News, Slider,
Read more...
29Jan

Japan. Wanted: rational pension reform

The government is required by law to examine the long-term financial health of Japan’s public pension system every five years. In the latest review released last August, it was confirmed that in most of the scenarios considered, the income substitution rate — the ratio of pension payouts to the after-tax income of the working generation — will be maintained at 50 percent or more. Read also The 7 biggest fintech trends to watch in 2020 This means that retirees will...

January 29, 2020
News, Slider, , , ,
Read more...
29Jan

New Zealand. Retirement Commissioner backtracks on call to raise pension age because Kiwis can’t afford it

New Zealanders are approaching retirement in poorer shape than their parents' generation did – and that means we cannot afford to raise the pension age, the Retirement Commissioner says. The commission has long argued that an increase in the age of eligibility for superannuation is needed because of the cost of providing it to an increasing number of older people. But now acting commissioner Peter Cordtz has issued recommendations that backtrack on that. In the commission's latest three-yearly Review...

January 29, 2020
News, Slider, , ,
Read more...
29Jan

Measly Returns Spark $5 Billion Raid on Estonian Pension Savings

Cracking open a 4.85 billion-euro ($5.3 billion) piggy bank of pension savings may be a vote-winner. But Estonia’s plan to allow early access to retirement cash is facing a tide of criticism for being short-sighted. The government is meeting an election pledge by a junior coalition member to let more than half the Baltic nation’s 1.3 million residents reinvest or spend mandatory pension savings taken from tax contributions and gross salaries since 2002. The money would be released from...

January 29, 2020
News, Slider, , ,
Read more...
29Jan

How the Longevity Project Is Reimagining Our Longer Lives

As life expectancies are growing and the 100-year-life is becoming more common, how can Americans, the U.S. government and employers best prepare for the challenges and opportunities of longevity? Meet the Longevity Project, the new initiative designed to come up with some answers. The Longevity Project, developed in collaboration with the Stanford Center on Longevity (its lead content creator), is generating research and engaging in public conversation on the many impacts of longer lives. It just released a poll...

January 29, 2020
News, Slider, , ,
Read more...
29Jan

Nigeria to borrow N2tn to fund infrastructure development

Nigeria’s National Economic Council (NEC) says the federal government has resolved to borrow two trillion from the current 10 trillion naira pension funds to finance the development of infrastructure. Niyi Falade, CEO of Crusader Sterling Pensions joins CNBC Africa to discuss this story. Watch de video in @CNBC Africa

January 29, 2020
News, Slider, , ,
Read more...
28Jan

US. Public Pensions Reducing Fee Outlays to Improve Efficiency

Public retirement systems are squeezing down their expenses to operate more efficiently, according to an annual study by the National Conference on Public Employee Retirement Systems. Read also 28% of Americans in Their 60s Are Extremely Short on Retirement Savings The 2019 NCPERS Public Retirement Systems Study, based on responses from 155 state and local pension systems, shows that trustees, managers, and administrators are working to ensure funds’ fiscal and operational integrity, according to Hank H. Kim, executive director and...

January 28, 2020
News, Slider,
Read more...
28Jan

UK. DWP publishes expat pension guidance ahead of Brexit

The Department for Work and Pensions (DWP) has confirmed that the UK state pension will be protected by the Withdrawal Agreement in new guidance examining the rights for UK nationals after the UK has left the EU. The guidance confirmed that UK nationals living in an EEA state or Switzerland by 31 December 2020 will be covered by the Withdrawal Agreement. The UK state pension will be uprated every year that an individual continues to live there, regardless of...

January 28, 2020
News, Slider, , ,
Read more...