October 2019

04Oct

France. Macron seeks to placate French over pension reforms

French President Emmanuel Macron sought to ease fears over his controversial pension reform Thursday in a debate with concerned citizens over the plan that has sparked protests by train drivers, pilots, lawyers, doctors and police. Macron’s move to modernise France’s retirement system is part of an election pledge to put the country on a solid financial footing — a mission that calls for painful changes in a country where many people have seen their spending power decline. Macron’s government...

October 4, 2019
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04Oct

Pension Funds Sink Billions Into a Whole New World of Risk

For decades Dutch pension cash flowed to the place most likely to deliver steady and safe returns: government bonds. No longer. Now the investor behind the Netherlands’ biggest pension fund is channeling retirement savings to a Belgian airport, a bicycle parking lot in Utrecht and toll roads in the U.S. and Spain. “Because of low interest rates, we have to cast our nets far and wide to search for returns,” said Thijs Knaap, senior investment strategist at APG Asset...

October 4, 2019
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04Oct

Lithuanian President Nausėda: pension raises must outpace wage growth

Can Lithuanian pensioners turn Lithuanian economy upside down? Upon hearing the threats of Lithuania’s commercial banks what will happen to the economy if the ruling farmers and greens (LFGU) move forward with the proposal to tax bank assets, which is part of Lithuania’s plan to rake in additional 100 million euro for welfare spending, and the pensions, too, it may seem inevitable. Low Lithuanian pensions The average pension in Lithuania is currently 345 euros, however around 60 percent of...

October 4, 2019
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04Oct

Why the Future of Brazil’s Economy Rides on Pensions

Latin America’s largest economy, Brazil, is closer than ever to overhauling its costly pension system. That’s been the focus of the first sustained legislative drive by President Jair Bolsonaro, his economic team and allies. Efforts to muster support for a major reform failed under previous administrations. Now, Brazil’s Senate is set to approve changes that could boost the nation’s public finances and open the door to a virtuous cycle of expansion. 1. Why is pension reform so important? Brazil’s pension...

October 4, 2019
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03Oct

Africa’s Biggest Fund Manager Seeks to Salvage Soiled Reputation

The image of Africa’s biggest fund manager has been damaged by allegations of misconduct and breaches of corporate governance and the institution must now strive to preserve what’s left of its reputation, its interim chairman Reuel Khoza said. The Public Investment Corporation, which oversees 2.13 trillion rand ($139 billion) of mainly South African government worker pensions, has been the subject of a commission of inquiry. That’s involved months of public testimony into allegations of political interference and questionable investment...

October 3, 2019
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03Oct

NBC Ghana Trust CEO calls for transparency in Pension Trustee Administration

The Chief Executive Officer of Negotiated Benefits Trust Company Limited (NBC Ghana Trust), William Asiedu Yeboah, has called for transparency in corporate and individual trustee administration following the impact of the recent banking reforms undertaken by the Bank of Ghana. Mr. Yeboah explained that “the trustees (corporate and individual) licensed are required to provide regular reports on all aspects of the fund administration and investment activities. Regular audits are required in addition to robust data management systems. Annual audits...

October 3, 2019
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03Oct

Why the tone of doom for Europe’s ageing?

The EU’s ageing problems can’t be stopped by either fertility or migration. But labour participation and education trends offer clear reasons for optimism, writes Nicholas Gailey.​ In prosperous countries – including every single EU member state – long life spans and low birth rates are driving the average age upward. This byproduct of medical success and personal choice has set the stage for labour force decline, risking Europe’s ability to support itself. Many prominent voices clash over ways to...

October 3, 2019
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03Oct

US. The New Realities Of Work And Retirement

Bob Orozco barks out instructions like a drill sergeant. The 40 or so older adults in this class follow his lead, stretching and bending and marching in place. It goes like this for nearly an hour, with 89-year-old Orozco doing every move he asks of his class. He does that in each of the 11 classes he teaches every week at this YMCA in Laguna Niguel, Calif. "I probably will work until something stops me," Orozco says. He may...

October 3, 2019
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03Oct

UK. Opperman says Pensions Bill is ‘good to go’

The minister for pensions and financial inclusion has detailed the main areas that will be covered in the upcoming Pensions Bill, which he said is “completely ready and good to go”. Speaking at a fringe event at the Conservative Party conference in Manchester yesterday (October 1), organised by the Social Market Foundation and The Institute And Faculty Of Actuaries, Mr Opperman said his work on the bill was done, although he noted he was waiting for the Queen’s Speech...

October 3, 2019
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02Oct

Brazil Senate approves pension reform in first-round vote

Brazil’s Senate approved the main text of a pension reform bill in a first-round vote on Tuesday, clearing another key hurdle for the government’s bid to narrow its massive budget gap. The main text passed with a vote of 56 in favor - a comfortable margin above the 49 votes required - with 19 opposed and one abstention. Only 76 of 81 senators were present. The Senate is expected to consider amendments to the bill on Wednesday before it...

October 2, 2019
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