September 2019

08Sep

Amber Rudd quits cabinet and attacks PM for ‘political vandalism’

Boris Johnson’s government was in danger of imploding on Saturday night as the work and pensions secretary, Amber Rudd, quit the cabinet and resigned the Conservative whip, saying she could not stand by while “loyal, moderate MPs” were purged from the party. Rudd told Johnson she had joined his cabinet “in good faith accepting that no deal had to be on the table”. She added: “However, I no longer believe leaving with a deal is the government’s main objective.” While she could...

September 8, 2019
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06Sep

Global Risks Affecting Pension Plans

Unlike any other financial product, pensions, whether provided by government, employers or accumulated by individuals themselves, aim to provide people with a livelihood when they no longer work. The income derived from a pension, in the majority of cases, is what determines whether we are able to lead an independent and dignified life after retirement. A good pension system is therefore a critical underpinning of any society. There are three key risks to pensions worldwide that need immediate attention....

September 6, 2019
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06Sep

It’s Going to Get Harder for Australian Pension Funds to Make Money

Australia’s pension funds will be forced to push more money into less traditional assets -- such as apartment developments and even direct lending to companies -- after the strong recent performance of equities and fixed-income left valuations lofty in public markets. That’s the assessment of investors managing money directly for, or on behalf of, the country’s A$2.9 trillion ($2 trillion) pension pool, who gathered in Hobart this week. With four out of five retirement savers in funds that have a...

September 6, 2019
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06Sep

Rage Against Retirement

I am going to encourage you to rage against retirement. But let me be clear. I am not suggesting that you shouldn’t retire or that I have some deep-seated dislike for retirement. On the contrary. I think retirement can be a wonderful experience if done correctly (and something much less enjoyable if not done correctly). Over the past 22 years I’ve helped clients financially plan for retirement and I’ve seen what works well. The lesson I have learned is...

September 6, 2019
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06Sep

Individuals shouldn’t have to bear burden of a secure retirement

The near-retirees interviewed in Robert Weisman’s “With market swings, no rest for retirees” (Page A1, Sept. 4) are understandably nervous about their financial future. If the market wobbles, their retirement could rapidly become much less comfortable than they hope. The article didn’t mention that the insecurity these relatively comfortable retirees are facing is part of a longer and larger story of growing financial instability and insecurity for families in the United States. During the past 40 years, the risks...

September 6, 2019
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05Sep

Hong Kong. Legacy Trust have launched a crypto pension plan

The Hong Kong based company Legacy Trust has opened a pension plan based on digital assets. In what could be a world first the company have started a voluntary pension plan open to employers and the self-employed for which contributions and the underlying portfolio can include digital assets. Vincent Chok, CEO of Legacy Trust said: "Investors are moving beyond speculation — they want to use digital assets and bring them into a diversified portfolio," he then added "We...

September 5, 2019
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05Sep

The road to bankruptcy: Romania’s fiscal deficit to reach 8 pct of GDP by 2022 if the new pension law is implemented, IMF says

The new pension law could double Romania’s already sizable fiscal deficit, which could reach 8 percent of GDP by 2022, and raise external financing needs to excessive levels if it will be implemented as is without offsetting policy measures, International Monetary Fund (IMF) experts warn. For 2019, IMF estimates a fiscal deficit of 3.7 percent of GDP in Romania. The government has enacted a new law that will double the pillar I pension benefits by 2022, without yet spelling...

September 5, 2019
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05Sep

South Africa. How SA Can Create a Safe and Sustainable Environment for Retirement

Socially responsible investing is a topic that still does not get the necessary attention in the retirement fund industry. This is despite the fact that Boards of Trustees and Management Committees of retirement funds have a clear fiduciary duty in this regard. Corporate failures related to a lack of proper governance have destroyed close to R800 billion in value for retirement fund members in recent times. Uncertainties related to government policies such as prescribed assets have become an additional...

September 5, 2019
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05Sep

Samsung Securities Signs MOU with Canadian Pension Fund for Infrastructure Investment

Samsung Securities Co. has joined hands with a foreign pension fund for the first time in the domestic investment banking industry to expand its reach in global infrastructure investment. The company announced on Sept. 4 that it has signed a memorandum of understanding (MOU) on mutual business partnership with Montreal-based institutional investor Caisse de depot et placement du Quebec (CDPQ) at the company’s head office in Quebec, Canada, on Sept. 3 (local time). Founded in 1965, CDPQ...

September 5, 2019
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05Sep

Ageism is putting all our retirements at risk

Pensioner poverty, we are often led to believe, is a thing of the past. Apparently, the Baby Boomer generation has been so successful at defending its interests that the greedy old buggers are raking it in. It is claimed that we live in a ‘retirement aristocracy’. Pensioners spend their days jetting off on holiday or sauntering around the golf course. They are sitting pretty in their oversized, overpriced homes. Meanwhile, younger generations are said to be miserably stuck at...

September 5, 2019
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