December 2021
13Dec

E.U. Plan to Boost Gig Economy Workers Is Latest Blow to Apps

European Union plan to improve conditions for the growing number of gig economy workers could mean millions more of them are classified as employees entitled to benefits, the latest setback for digital platforms that rely on independent contractors to deliver food and offer rides. The draft rules outlined Thursday aim to clarify the labor status of people employed by app-based companies like ride-hailing service Uber and food delivery business Deliveroo and would add oversight for the algorithms they use to...

December 13, 2021
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13Dec

US. Senate democrats Call for End to Retirement Plan Discrimination Against Same-Sex Couples

A group of 45 Senate Democrats are urging the Treasury and the Internal Revenue Service to revise old guidance that permits retirement plans to discriminate against same-sex couples. Yesterday, U.S. Senator Patty Murray (D-WA), Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Senator Ron Wyden (D-OR), Chair of the Senate Finance Committee, and 43 of their Senate Democratic colleagues sent a letter to Secretary of the Treasury Janet Yellen and Commissioner of the Internal Revenue Service Charles...

December 13, 2021
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13Dec

Nigeria. PenCom says 72,000 participants registered for Micro Pension Plan

The National Pension Commission (PenCom) has disclosed that 72,000 participants have been registered under the Micro Pension Plan (MPP) as at November 2021. This was disclosed by Head, Micro Pension Department, PenCom, Mr Dowda Ahmed, in an interview on Friday with NAN during the Pension Fund Operators Association of Nigeria (PenOp) Annual Media Parley in Lagos, themes, “Micro Pension – Challenges and Opportunities.” He also pointed out the category of people under the scheme. What PenCom is saying Ahmed stated that the scheme...

December 13, 2021
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13Dec

These Retirement Savers Are Making a Big Mistake

Investing for retirement is crucial to building a nest egg that can provide financial security in your later years. Unfortunately, many people who are investing are making a big mistake with the money they're saving for the future. In fact, recent research from Fidelity found around a quarter of all employees who are invested in workplace retirement accounts are taking on more risk than they should. Among the 24.2% of investors in 2021 who are over-exposed to risk, there's one generation that's...

December 13, 2021
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09Dec

The OECD warns of the pressure of aging on the financial sustainability of pensions in Spain

The body warns, at a general level and without specifying any country, that the future of pension systems depends on the decision being made to raise contributions, extend the retirement age or reduce pensions. A pensioner during a demonstration of this group in Bilbao. The Organization for Economic Cooperation and Development (OECD) has warned of the impact that the aging of the population will have on the “financial sustainability” of the Spanish pension system, according to the annex for Spain of the biennial...

December 9, 2021
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09Dec

Will everything be responsible investing?

Impact investing, responsible investing, environmental, social and governance investing – these are all different branches coming from the same tree and have been rising in popularity. As interest in climate-related issues has been growing for some time, more and more investors have been looking towards making their money work for the greater good. The consumer-facing campaign Make My Money Matter has played a key role in encouraging people to explore where their pensions are invested, as well as how they could...

December 9, 2021
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Why the demographic transition is speeding up
09Dec

Why the demographic transition is speeding up

As birth announcements go, it was momentous. On November 24th India’s government declared that the country’s fertility rate had dropped to 2.0 children per woman. That is below the replacement rate—at which new births are sufficient to maintain a steady population—and puts India in the company of many richer economies. Indeed, fertility rates are now below replacement level in all four “ bric” countries (Brazil, Russia, India and China), with the population probably falling in Russia and China. It...

December 9, 2021
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09Dec

Brexit would be better for UK workers, Boris Johnson promised. But will it?

The European Commission’s plans to protect people in precarious jobs in the gig economy could be the most ambitious extension of workers’ rights from Brussels since Britain left the EU. If adopted, the plans would mean that gig economy companies, such as Uber and Deliveroo, would have to treat workers as employees with minimum wages (where they exist), sick pay, holidays and better accident insurance, unless they could prove that drivers and couriers were genuinely self-employed. Workers would also get greater...

December 9, 2021
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03Dec

U.S. corporate plans’ funded status slips in November

Funding ratios for U.S. corporate pension plans decreased in November, according to reports from Legal & General Investment Management America, Insight Investment and Northern Trust Asset Management. Read also US. SEC guidance opens the door for more ESG proxy proposal LGIMA's monthly pension solutions monitor showed that the funding ratio of a typical corporate pension plan decreased by roughly 1.6 percentage points to 90.1% in November, primarily because of poor equity performance and lower Treasury yields. Read also US. Most Kentucky pension...

December 3, 2021
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03Dec

UK. Trustees warn lack of member appetite for ESG investing is hindering progress

More than half (53 per cent) of professional defined benefit (DB) pension trustees have cited the lack of member appetite for environmental, social and governance (ESG) investing as a factor hindering the growth of sustainable investing. The study, conducted by Charles Stanley Fiduciary Management, found that 35 per cent felt a lack of understanding about the options available as a hindrance, while the suspicion that ESG investing was just a fad, fears that it could harm returns, and underwhelming investment...

December 3, 2021
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