January 2020

10Jan

Brexit and pensions: everything you need to know

Retirement savers will have to keep an eye on state pension payouts, the value of the pound and consumer protections now the country’s exit from the European Union is imminent. After one of the most stunning political turnarounds in history, Brexit now looks almost certain to happen on Jan 31. But the question on most people’s minds will be what it all means for them and their money. Pensions will be affected in a number of ways and, like all things when it comes...

January 10, 2020
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09Jan

Nationwide protest in France over pensions as talks continue

Rail workers, teachers, doctors, lawyers and others joined a nationwide day of protests and strikes Thursday to denounce French President Emmanuel Macron’s plans to overhaul the pension system. As the government and unions pushed on with crucial negotiations about the changes, street protests were staged in Paris and other French cities, with railway strikes entering their sixth week. Read Also Critical week in frances pension reform protests The Eiffel Tower was shut as employees joined the protest movement. Paris metro traffic was...

January 9, 2020
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09Jan

Estonia. Public ill-informed about pensions and retirement: Research

According to recent market research, awareness among the Estonian public about the impending pension reform is low, with many not knowing key facts surrounding the move to make the so-called second pillar, referring to employee contributions to pension schemes, voluntary, where it had previously been mandatory for most wage earners. This was particularly the case among young people, with higher awareness recorded among those aged over 55, as well as professionals, according to the survey commissioned by pollsters Turu-uuringute on...

January 9, 2020
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09Jan

Solving Chile’s Crisis Starts With Fixing Its Pension System

BY JORGE HEINE Protesters cite the Pinochet-era retirement scheme as their top grievance. Fixing it will mean a return to basic principles of social security. As Chile’s protests continue into the new year, it is important to understand the reasons behind the public’s frustration – and for policymakers to come up with ways to address it. In that, no issue is more important than Chile’s private pension scheme, singled out in opinion polls as the most important issue for...

January 9, 2020
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09Jan

FRR names supervisory board chair

FRR, Franklin Templeton, Mercer, HSBC Global Asset Management, Veritas, AllianceBernstein, Arabesque S-Ray, Eumedion, De Nationale APF, ASR, PGB, Hermes, Netspar, Sampension, Rabobank, Kempen, UBS, Aegon, LOIM Fonds de réserve pour les retraites (FRR) – The €32.6bn French sovereign investor has a new chair of the supervisory board, with Sandrine Lemery having been appointed to the position by government decree. She was the first deputy secretary general of ACPR, the prudential authority for banks and insurers, from 2013 until the beginning of January 2019. She...

January 9, 2020
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09Jan

Inside a Pension Fund’s Search for a Risk Management System

The LACERA investment team recommended MSCI’s risk analytics over competitors including BlackRock’s Aladdin system and FactSet. After a lengthy search, the investment team at the Los Angeles County Employees’ Retirement Association has settled on a new risk analytics provider. The investment team has recommended that its board hire MSCI Analytics to provide total fund analytics for the $59.6 billion pension fund, according to the agenda from a LACERA investment board meeting held on Wednesday. MSCI beat out rivals including FactSet and...

January 9, 2020
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08Jan

Ghana: Pay Employees’ Contributions Promptly – Ssnit Boss to Employers

The low level of compliance by employers to pay contributions of their employees is a threat to the sustainability of the pension scheme, Dr John Ofori-Tenkorang, Director-General of the Social Security and National Insurance Trust (SSNIT) has said. "Often, less than 50 per cent of employers pay their workers' contributions by the 14th of the ensuing month, which is the deadline for contributions payment," he said. Read Also Ghana. SSNIT To Pay ¢243m Pension In 2020 Dr Ofori-Tenkorang was speaking...

January 8, 2020
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08Jan

UK. Pension reform: Reckless bosses who plunder staff pensions to face seven years in jail

Reckless company bosses who plunder staff pension schemes will be jailed for up to seven years under proposed new laws introduced in Parliament last night. The Pension Schemes Bill will also trigger major reforms revolutionising retirement planning and boosting incomes by up to seven percent a year. Ministers said the package of measures would make Britain the “best place in the world” to retire. “With this Bill, we’re pushing ahead with our revolutionary pensions agenda and delivering for the millions of...

January 8, 2020
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08Jan

MidEast Retreats as Investors Steer Clear of Most-at-Risk Region

Middle Eastern markets can hardly be accused of complacency over the latest surge in regional tensions, even if global investors are taking a more relaxed view of events. The region accounts for three of the world’s 10 worst-performing equity indexes since the U.S. drone attack that killed Iran’s General Qassem Soleimani last week, while the dollar-denominated bonds of Iraq, Lebanon, Bahrain, Egypt and Oman are among the 10 biggest losers in emerging markets. Read Also Us public pension funding crisis...

January 8, 2020
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08Jan

India. Bank retirees demand basic pension update

Finance Ministry urged to improve family pension too The All Kerala Bank Retirees Forum has urged the Ministry of Finance to update basic pension and substantially increase family pension in accordance with the Bank Employees Pension Regulation. Whenever a demand for updating pension and improving family pension was raised , the Indian Banks’ Association (IBA) and the Ministry of Finance argued that any tilt in the pension scheme would adversely affect the pension corpus fund. However, figures collected relating to retirements from...

January 8, 2020
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