May 2019

06May

Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Position in Weyerhaeuser Co (WY)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Weyerhaeuser Co (NYSE:WY) by 43.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,271 shares of the real estate investment trust’s stock after buying an additional 44,364 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Weyerhaeuser were worth $3,853,000 as of its most recent SEC...

May 6, 2019
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03May

Zambian government used pension funds to pay February delayed salaries: Africa Confidential

The respected UK based investigative publication Africa Confidential has claimed that the Zambian government raised the country’s largest pensions fund NAPSA to pay delayed February salaries for civil servants. In its latest publication, Africa Confidential claims in an article titled Treasury in the red that Zambia’s liquidity problems are getting worse and that state assets are looking more likely as a last repairs to avoid debt default. It reported, “The lavish spending and borrowing of President Edgar Lungu’s government...

May 3, 2019
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03May

S. Africa’s Ramaphosa Urges Patience in Corruption Battle

South African President Cyril Ramaphosa, whose party faces a national election next week, urged citizens of the country to have patience and give his government and the nation’s institutions time to deal with the corruption that has indebted the economy and brought state companies to their knees. Ramaphosa Can Win Over South Africa, What About His Own Party? Cyril RamaphosaPhotographer: Waldo Swiegers/Bloomberg Ramaphosa took over from Jacob Zuma as national president last year and has described his predecessor’s rule...

May 3, 2019
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03May

UK. Stagecoach ‘asked to take on £1.6bn pensions risk’

Stagecoach has said it refused to accept pensions risks that could have been "well in excess of £1bn" for three rail franchises it was disqualified from bidding for in April. Under one scenario the company estimated it could have been left with liabilities of £1.6bn. Protections offered by the Department for Transport (DfT) were inadequate, the transport group said. Rail firms are facing an estimated £7.5bn pensions gap. Last month, the DfT rejected Stagecoach bids for the East Midlands...

May 3, 2019
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03May

Why a pension is a much better investment than property

In an interview with The Times at the weekend, MP Michael Fabricant answered the question: “What’s better for retirement – property or pension?” with “Property. I’ve made a bit of money on my London flat”. Two questions for Mr Fabricant. First, how does he intend both to live in and live off his flat? And second, has he ever looked at his pension? Fabricant has been an MP since 1992. He has built up 26 years’ worth of...

May 3, 2019
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02May

Pakistan. Pension payments to reachRs46 billion in next fiscal year

Employees Old-Age Benefits Institution would bring pension payments up around 31 percent year-over-year to Rs46 billion in the next fiscal year, its head said. Chairman EOBI Azhar Hameed said pension payments would reach Rs35 billion by the end of the current fiscal year. “The disbursement will increase to Rs46 billion during the next fiscal year,” he said, addressing members of Korangi Association of Trade and Industry (Kati). Hameed said the institution is planning to celebrate pension day to spread...

May 2, 2019
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02May

US. Bill Would Deny U.S. Pensions to Convicted Child Molesters

A U.S. senator is seeking to ban convicted child molesters from receiving government pensions after a U.S. Indian Health Service doctor was revealed to be drawing a six-figure retirement income following his conviction for sexually abusing patients. The Wall Street Journal and the PBS series Frontline reported in March that the doctor, longtime Indian Health Service pediatrician Stanley Patrick Weber, stood to get more than $1.8 million in U.S. pension payments during his prison sentence, which began in September....

May 2, 2019
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02May

Tunisia raises minimum wages, pensions to tackle discontent

Tunisia raised the minimum wage for industrial and farm workers as well as pensions for hundreds of thousands of private-sector retirees by 6.5 percent on Wednesday in a move to defuse discontent over economic hardships. Thousands protested on Monday in the central city of Sidi Bouzid against marginalisation and deteriorating economic conditions. Hundreds of disgruntled young people also rallied in the northern city of Kef on Tuesday, demanding jobs. A government statement said Prime Minister Youssef Chahed had approved...

May 2, 2019
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02May

South Africa. Ramaphosa and ANC are coming for your pensions, Maimane claims

The DA leader alleges the ruling party has stolen an estimated R1.2 trillion through corruption. Democratic Alliance (DA) leader Mmusi Maimane spoke at a Worker’s Day rally the party held in Cape Town on Wednesday, warning an audience of supporters that Cyril Ramaphosa and the ANC were allegedly “coming for” the pensions of South Africans. The DA leader was referring to the idea of prescribed investments for pension funds, which has been hinted at by the ANC in its...

May 2, 2019
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02May

France. Macron still faces a battle to fund his ageing nation

The problem of an ageing population and how to fund pensions and dependency care that has bedevilled previous governments has now landed in President Macron’s lap. It has been estimated that these costs will double in the next 20 years as people live longer and need more support. France has fewer people in work and more and more over-60s – especially over-75-year-olds – needing care. Costs are rising too, as longer lives do not necessarily mean extended healthy lives....

May 2, 2019
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