December 2019

02Dec

US. Washington state pension fund’s lawsuit against corrupt Brazilian conglomerate allowed to proceed

The Washington State Investment Board, which oversees $141.8 billion for 17 state retirement plans, can move forward with a lawsuit that seeks to recover millions of dollars from a soured investment in a Brazilian conglomerate that was discovered to be engaged in an international bribery scandal of unprecedented scale. The company, Odebrecht, was the target of a fraud probe by the Department of Justice that resulted in a $4.5 billion plea deal in 2016. The feds found Odebrecht created...

December 2, 2019
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November 2019

29Nov

ECB chief Economist says ageing populations are depressing interest rates

European Central Bank chief economist Philip Lane told business leaders in Dublin that ageing populations were contributing to downward pressure on underlying real interest rates, which have been around zero or in negative territory in the euro zone in recent years. Read also Countries should strengthen pension systems to adapt to changing world of work “In terms of magnitude, a wide range of estimates suggest that the downward impact on equilibrium real rates from slowing population growth and...

November 29, 2019
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29Nov

Pension reform in France ‘a response to gilets jaunes’

Controversial pension reforms in France are a direct result of the gilets jaunes' protests, government spokesperson Sibeth Ndiaye has said, prompting outrage from political opponents on social media "This reform is one of the responses to the gilets jaunes' crisis. It is above all one of the responses to the significant injustices that exist in our country," Ms Ndiaye told Franceinfo. The government's pension reform project is still the subject of consultation between the government, unions and employers, and...

November 29, 2019
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29Nov

South Africa: Ex-Mineworkers Dig Against the Odds for Their Unpaid Pensions

The leaders of an ex-mineworkers association in Khayelitsha have spent the past decade trying to track down the unpaid pension benefits deducted from their wages without their knowledge or consent. While the mining companies sit pretty , ex-mineworkers continue to live hand to mouth with painful memories of a life made invisible. Now, they demand to be seen by a government they feel has betrayed them. Every Friday for the past decade, Sphiwo William Casiwe has made his...

November 29, 2019
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29Nov

Australia. Supporting upskilling of dispersed workforce

Leadership, communication and collaboration are consistently seen as the top three skills people managers want and online training can help foster these skills, writes Scott Cooper. Almost a quarter of a million people are employed as direct care providers in Australia’s aged care sector. The government has estimated this number needs to increase two to three times by 2050 to look after the ageing population. At the same time, there’s already an urgent shortage of skills and highly-trained people...

November 29, 2019
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29Nov

The Retirement Researcher Manifesto – Part One

As I have attempted to summarize the key messages and themes that have underscored my writing and research, I find that the following eight guidelines serve as a manifesto for my approach to retirement income planning. It is helpful to start with these guidelines because I will ultimately talk about how to implement these guidelines in practice. Play the long game Retirement income plan should be based on planning to live, not planning to die. A long life will...

November 29, 2019
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28Nov

Countries should strengthen pension systems to adapt to changing world of work

Governments should urgently reform their pension systems to ensure that the growing share of workers in temporary or part-time employment can contribute enough during their working lives to receive an adequate income in retirement, according to a new OECD report. Read also Pensions at a Glance 2019 Pensions at a Glance 2019 says that non-standard employment, such as self-employment, temporary or part-time work, now accounts for more than one-third of employment across OECD countries. Part-time work is three times more...

November 28, 2019
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28Nov

Japanese gov’t may include more part-time workers in pension system

The Japanese government may look to include more part-time workers into the national employee pension system by mandating companies with relatively small workforces to enroll in the program, local media reported Wednesday. Under the current system, firms employing more than 501 staff are required to participate in the program. However, the government is mulling lowering the figure to increase the number of workers enrolled in the employee pension program. In a bid to address concerns among workers about having...

November 28, 2019
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28Nov

Puerto Rico Retirement Plans Will See Tax Provisions Reinstated

House Bill No. 2172 (HB 2172), which intends to incorporate technical amendments to the Puerto Rico Internal Revenue Code of 2011, as amended, was approved by the Puerto Rico Legislature and sent to the Governor for approval, according to a client alert from law firm McConnell Valdés LLC. For taxable years commencing in 2019 and thereafter, HB 2172 would amend the PR Code to provide that distributions made by plans qualified under the U.S. Internal Revenue Code of 1986,...

November 28, 2019
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28Nov

France. ‘Pension change needed but has been badly explained’

THE strikes have the government worried and could result in a general election, says sociologist Jean Viard, however the outcome remains uncertain. Dr Viard, a director of research at Sciences Po who stood to be an LREM MP in 2017, said: “The press talks a great deal about December 5 and I have met members of government and know they are very worried, but it is unpredictable. “The SNCF and RATP are motivated, because the SNCF lost its...

November 28, 2019
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