May 2019

23May

Four Key Strategies for Managing Pension Risk

CFOs at companies that offer defined benefits might be forgiven for feeling frustrated that, in addition to oversight responsibility for company financial performance, shareholder relations, accounting, tax, and myriad other functions, they also have to manage a pension plan. Compounding the challenge, the investment landscape has grown only more complex over the years, requiring greater day-to-day attention and oversight. Additionally, few internal or external constituents who influence plan direction have a clear 360-degree view, further confusing and distorting the...

May 23, 2019
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23May

Brazil pension chief says 250-270 lawmakers spoken in favor of pension reform

Parliamentary support in Brazil for the government’s pension reform bill is rising, with between 250 and 270 lower house deputies having spoken in favor of it, Labor and Pensions Secretary Rogerio Marinho said on Wednesday. Marinho’s remarks, made at a conference on pension reform, suggest the government may be getting closer to the 308 lower house votes it needs for the bill to then proceed to the Senate for final approval. Earlier this week, Marcelo Ramos, chairman of the...

May 23, 2019
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22May

Brazil Investors Bet on Pension Reform Approval. Once Again.

Brazilian assets tumbled over the past week as President Jair Bolsonaro’s administration faced nationwide protests, setbacks in the approval of key decrees and new strains in its relationship with Congress. Yet the prospects for pension reform are finally looking up. Political consultancy Eurasia raised the odds of approval of the government’s flagship economic proposal to 80%, up from 70%, citing lawmakers’ waning resistance to a measure deemed vital to Brazil’s finances. Bank of America Merrill Lynch upgraded the nation’s...

May 22, 2019
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22May

UK. More than a third of MPs back campaign for fossil-free pension

Parliamentary pension currently holds £11.7m of BP shares and almost £11m in Shell Large numbers of MPs have again called for their pensions to be made free of fossil fuel investments, ahead of an "historic" debate on the financial and ethical risks of pension investments in high carbon companies in Parliament this afternoon. More than a third of serving Westminster MPs today reiterated calls for the Parliamentary Contributory Pension Fund (PCPF) to disclose its investments in carbon-intensive industries, and...

May 22, 2019
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22May

Kenya. Retirements regulator strategic plan to boost assets

The pensions sector dropped in performance of various investments in the past year, a report has shown. The decrease in the assets during the half-year was attributed to the volatility in the stock market of which investment in quoted equities decreased by 19.83 per cent. The performance is, however, better than the year before, with marginal increases recorded. The top five fund managers during the period were Sanlam Investments East Africa, GenAfrica Asset Managers, Old Mutual Investment...

May 22, 2019
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22May

Could the Silver Tsunami be the beginning of a Longevity Economy?

There are over 176,500 people over the age of 65 employed in Rhode Island. In some industries, there are not enough people entering the field to replace the ones who wish to retire. Our desire to work is sometimes at conflict with our need to provide caregiving to our aging loved ones. According to the U.S. Census Bureau, 21.3 percent of the Rhode Island population will be over the age of 60 within the next year. Rhode Island already has...

May 22, 2019
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22May

Peru – New Law establishes a special early retirement regime for the unemployed in the private pension system

On 3 May 2019, the ‘Law establishing a special early retirement regime for the unemployed in the private pension system’ (Law 30939) was published in the Official Gazette ‘El Peruano’. The main provisions of the Law are set out below. At the time of applying for the benefit, men must be at least 55 years of age and women 50. To request it, they must have been unemployed for 12 consecutive months or more, and prove the date of...

May 22, 2019
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21May

US. The Coming Pension Crisis Is So Big That It’s A Problem For Everyone

By John Mauldin (President of Mauldin Economics) A decade ago I pointed out that public pension funds were $2 trillion underfunded and getting worse. More than one person told me that couldn’t be right.They were correct: It was actually much worse. It has gotten to $2 trillion and much worse in just a few years.Note that we are talking here about a specific kind of pension: defined benefit plans. They are usually sponsored by state and local governments, labor unions, and...

May 21, 2019
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21May

What’s going on with an aging population and productivity?

The impact of an aging population on economic output and growth is the focus of an increasing number of studies. This development is not surprising given the retirement of the baby boomers and a rapid increase in the share of the population over age 60.The studies, however, provide seemingly conflicting conclusions. Two studies say an aging population is bad, and two say that it’s good.First, here’s what theory would tell you. In the absence of any other change, an...

May 21, 2019
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21May

Beyond mobile payments: Going up the value chain of fintech in Africa

Sub-Saharan Africa has become the global leader in mobile money adoption, usage, and innovation. The challenge now is to go beyond the success in payments to meet the unmet demand in the region for other, underdeveloped financial services that can facilitate the digitalization of other segments of the economy. In a new report, my colleagues and I take a closer look at the policy challenges that need to be addressed to go up the value chain of financial technology (fintech)...

May 21, 2019
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