November 2019

25Nov

US. States embrace nudge theory to promote retirement savings

A new government program that takes money out of people’s paycheck is gaining interest in state legislatures across the country — in part because it is wildly popular with voters. Oregon, Illinois and California have launched initiatives to create retirement savings accounts for residents whose employers do not offer company-sponsored programs. In those states, tens of thousands of workers have saved more than $40 million for their own retirements. The programs automatically divert 5 percent...

November 25, 2019
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25Nov

UK. University staff strike over pensions and pay

Students across the UK face disruption as lecturers and support staff in 60 universities start an eight-day strike. Members of the University and Colleges Union (UCU) are taking action in two separate disputes, one on pensions and one on pay and conditions. The strikes will affect almost half of all UK universities. The universities say strikes are not the way forward and promise to do all they can to minimise the impact of industrial action on students. In addition...

November 25, 2019
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25Nov

Leveraging AI To Accelerate Precision Health For Longevity

People over 50 are the fastest growing demographic group worldwide. This creates both opportunities and challenges for the global economy and healthcare systems. The Longevity Industry, which provides products and services for those aged over 50 is becoming a multi-trillion-dollar industry. There are currently 260 companies, 250 investors, 10 non-profits, and 10 research labs in the Longevity Industry in the UK alone. In the next decade, Longevity policies enacted by governments, and changes in the financial industry will transform...

November 25, 2019
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22Nov

Kenya. Pension crisis as 50,000 government staff retire

The retirement of about 50,000 civil servants is burdening taxpayers after the pension bill jumped by 63.03 percent or Sh10 billion in the first four months to October as the Treasury raised the red flag over the rising expense. Read also Less than 10pc Kenyans to retire comfortably on pension Treasury data shows that public pension expenses stood at Sh27.8 billion in the four months to October compared to Sh17.06 billion a year earlier — making it the fifth largest...

November 22, 2019
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22Nov

Why millennials should care about government pensions even if they don’t have one

Public pensions are not exactly a burning issue for millennials. In their minds, they won’t be retiring for decades, and pensions won’t affect their lives anytime soon. That line of thinking couldn’t be further from the truth. There’s currently a public pension crisis that doesn’t just affect retired government employees, but also young people in the workforce — both in terms of their future retirement plans and current salaries. Millennials, tune in. Most local and state retirement plans use...

November 22, 2019
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22Nov

Can fintech bridge the inequality gap

We know Silicon Valley likes to think it is making the world a better place. So it is no surprise that Facebook wanted to ram home the message that Libra, its digital stablecoin, is going to help the world’s poor. From the White Paper: Our journey is just beginning, and we are asking the community to help. If you believe in what Libra could do for billions of people around the world, share your perspective and join in....

November 22, 2019
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22Nov

Impact investing is about more than saving the world

“It’s not up to us to save the world.” This was the response I received from a trustee of one of the UK’s largest pension schemes recently to my pitch for impact investment. The reaction was familiar. The paucity of data showing that you can “do well by doing good” makes it easy for schemes to ignore commentators who insist upon it. Yet for all the myths that have grown up discouraging this type of investing, institutional investors who...

November 22, 2019
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21Nov

US. Great News From The IRS For Retirement Savers

The Internal Revenue Service (IRS) gave retirement savers an early holiday gift this year in the form of higher contribution limits for 2020. According to its November 6th announcement, workplace retirement plan contribution limits would be increased in 2020. Likewise, the income limits for Traditional IRAs and ROTH IRAs will also rise in 2020. Larger contributions to retirement accounts will allow you to further minimize your current tax bills. Additionally, higher retirement account contribution limits can be great for...

November 21, 2019
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21Nov

World’s Largest Pension Fund Keeps Analysts in Dark on Portfolio

Japan’s Government Pension Investment Fund’s decision to not disclose details of its quarterly allocation breakdown has some analysts saying that the world’s biggest pension fund is backtracking on transparency. Read also Impact investing is about more than saving the world In a statement on Nov. 1, GPIF President Norihiro Takahashi said the fund won’t disclose the allocation breakdown, amounts and investment income for each asset class this fiscal year, as it reviews the composition of its basic portfolio, which totals...

November 21, 2019
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21Nov

Why taxes on pensioners in Germany have risen up to 500 percent since 2010

The tax burden on pensioners has increased fivefold within ten years in some cases, according to figures released by the Finance Ministry on Wednesday. For example, new pensioners now have to pay €430 in income tax per year on a monthly gross pension of €1500, compared with €79 in 2010. The figures were released on Wednesday, as part of an inquiry submitted to the Federal Ministry of Finance by Die Linke. For an individual with a monthly gross...

November 21, 2019
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