May 2019

08May

UK. Ageing population ‘an opportunity, not a problem’ say MPs

The “problem” of the UK’s ageing population should be recast as one of the most “promising opportunities of the 21st century”, according to MPs at the centre of a new government strategy on longevity. Launched on Tuesday, the All-Party Parliamentary Group for Longevity will develop a radical strategy setting out how the working population can stay fit and functional for longer, stressing the business opportunities presented by Britain’s changing demography. “We need to change how we see ageing —...

May 8, 2019
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08May

‘Savings will be half original estimate’: PMs slash Brazil pension reform expectations

Fund managers remain positive on the prospects of Brazil’s pension reform despite recent government talks having led them to slash in half the savings they expect the reform to generate. In February, President Jair Bolsonaro introduced to the country's lower legislative chamber a wide-ranging pension reform bill that was expected to result in savings of 1.07 trillion Brazilian reais ($270.7 billion) over 10 years. The bill cleared its first hurdle on April 23 when the lower house committee -...

May 8, 2019
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08May

Croatian Unions Urge Minister to Quit over Pensions Adverts

Mladen Novosel, the chairman of the Union of Autonomous Trade Unions of Croatia, called on Tuesday for Labour Minister Marko Pavic to step down for “systematically telling untruths related to pension reform” via a series of televised advertisements. Unions also accuse the government of spending much more on the advertisements to promote its controversial reform of the pension system than the minister has told the public. “For sure, today we can talk not about two, nor four, but about...

May 8, 2019
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08May

French insurance sector pension fund announces investment in Scientific Beta low carbon multi-factor indices

Scientific Beta, the smart beta index provider, and SACRA, a pension fund for the French insurance sector, have announced the launch of two low carbon multi-factor indices for the US and Eurozone regions. This move comes as part of SACRA's reorganisation of the management of its equity portfolio. The US equity portfolio, and part of the Eurozone equity allocation, are now invested to track the two multi-factor indices from Scientific Beta. In addition to seeking higher long-term financial returns...

May 8, 2019
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08May

Ireland. State pension: lack of clarity criticised as changes delayed

Irish workers close to retirement are calling for clarity on the proposed new State pension system after the Government failed to meet a number of deadlines set under reform plans. In its Roadmap for Pension Reform the Government said it would finalise the design of a new total contributions approach by the end of 2018 and bring forward the scheme’s legislation by the end of March 2019. Having missed both these deadlines, workers are increasingly concerned about the number of...

May 8, 2019
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07May

Higher Risk Not Translating to Similar Returns for U.S. Pensions

U.S. state and local pensions have taken on riskier asset allocations in recent years, though the rate of return is paling compared with the higher risk according to Fitch Ratings in a new report. State and local pension plans have steadily increased their allocations to equities and alternatives such as real estate, private equity, hedge funds and commodities over the last several years. Asset allocation to both equities and alternative investments rose to 77% in 2017 from 67% in...

May 7, 2019
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07May

Australia Pension Giant Doubles Down on Push for Woman Directors

BAustralia’s largest pension fund is doubling down on its campaign for more women on boards. With almost all of the top 200 listed companies now having at least one female director, AustralianSuper Pty is raising the bar and pushing for at least two women board members, said Andrew Gray, director of ESG and stewardship at the Melbourne-based fund. That puts more than a quarter of companies in the benchmark S&P/ASX 200 Index in the A$154 billion ($108 billion) fund’s...

May 7, 2019
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07May

Ghana’s pension authority now has the power to prosecute companies that don’t pay their employees’ pensions

The threat of prosecution comes after the Attorney General recently gave the pensions regulator prosecutorial powers to go after companies that default in their workers’ tier-2 pensions. The National Pensions Act 2008, Act 766, established a three-tier pension scheme consisting of three levels of contributions. The mandatory first tier is remitted to Social Security and National Insurance Trust (SSNIT) with the tier-two, which is equally compulsory, paid on workers’ behalf by employers and managed by Private Pension Service Providers....

May 7, 2019
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07May

The Five Pillars Of A Sound Retirement Plan

In the past, many retirees counted on pensions and Social Security as the pillars of a sound retirement. Now, there are five pillars future retirees should take into account when creating a solid plan for retirement. Estate Planning The first pillar of a sound retirement plan is estate planning. Estate planning is all about creating your own rule book versus relying on the government's rule book. If you've never put together a plan to avoid probate, both while you're...

May 7, 2019
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07May

UK. Investors back pension comparison app

Age Wage, a new defined contribution comparison service, is en route to double its funding target after receiving £305,600 from more than 400 investors. On March 18 the fintech company launched a crowdfunding campaign through investment platform Seedrs to raise £175,000 to create the infrastructure around the DB comparison product, with the technology behind it already in place. Henry Tapper, chief executive of Age Wage, announced yesterday (May 6) that the company has almost doubled its target after it...

May 7, 2019
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