April 2019

10Apr

UK parliament pension fund takes first step towards fossil fuel divestment

Parliament’s pension fund trustees are to reconsider the rules of their investments to take account of the risk of climate change, in a first for MPs’ finances. While stopping short of a promise to fully divest from fossil fuels, the pledge by the trustees marks an important first step towards assessing and reducing the effect of the pension fund’s investments – which are ultimately paid for by the taxpayer – on climate change. The move is a victory for...

April 10, 2019
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10Apr

Nigeria: The Informal Sector To Benefit From The Contributory Pension Scheme

In a bid to strengthen the post-retirement financial capability of all working Nigerians (across all sectors of the economy), the National Pension Commission (PenCom) has finalised plans to launch the micro pension plan (MPP) on Thursday, 28 March 2019. The MPP will allow employees of organizations with less than three staff as well as self-employed individuals to participate in the contributory pension scheme. The move to expand the scope of coverage of the contributory pension scheme will potentially mean...

April 10, 2019
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09Apr

Crypto Fund Managers: Pensions Need Bitcoin “Now”

Millions the world over rely on pensions for their retirement. But, data gathered by Bloomberg and the American Federal Reserve has revealed that such funds, which act as economic lifelines for the soon-to-be-retired, aren’t doing too hot. In fact, Mark Yusko, a prominent American investor, recently claimed that the pension soon may get “truly ugly” when they skirt their commitments. But there’s an unorthodox but perfectly logical answer to this growing dilemma: Bitcoin and crypto assets. Read more @Blockonomi...

April 9, 2019
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09Apr

UK. Why the increase to workplace pension contributions is a much bigger deal than you think

To some this will seem just another of those irritating little deductions that come through on salary slips, but in reality the amount you contribute will have a huge impact on your future From Saturday, the start of the new financial year, the 10 million or so Britons who are included under the pensions auto-enrolment legislation will have their workplace pension contributions go up from 5 per cent of their salary to 8 per cent. Employees have to contribute...

April 9, 2019
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09Apr

Asian political parties address ageing population

More than 25 political parties from Asia gathered in Colombo last weekend to exchange views on international and regional issues, with a focus on the implications of and a policy to address the issue of an increasing ageing population in Asia. The United Nations estimates that one quarter of Asia’s population, or about 1.3 billion, will be over 60 years old by 2050. This demographic change forces policy makers to reckon and rethink whether our existing policies and practices...

April 9, 2019
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08Apr

More UK firms eye collective DC pensions

With the UK’s Department for Work and Pensions (DWP) working to pass legislation to roll out collective defined contribution (CDC) pension schemes, several firms are considering them for their employees. Around one in eight (13%) corporate pension scheme decision-makers believe that their company is either likely or very likely to adopt CDC schemes in the coming six years, according to a recent survey of by global corporate advisory firm Willis Towers Watson. That is, of course, provided the DWP’s...

April 8, 2019
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08Apr

Are Switzerland’s pensions too high?

The Swiss pension system is in danger of collapse. At the same time, Swiss retirees get higher pensions than almost anywhere else in the world. Is the country due for a reality check? The Swiss are a nation of happy pensioners. A study by UBS (International Pension Gap Index) found that in Switzerland (compared with 12 other countries), generous pensions mean that people must save the least for their old age – and that is in a country that...

April 8, 2019
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08Apr

Canada’s CDPQ to Buy Petrobras Pipe Unit for $8.6 Billion

Petroleo Brasileiro SA agreed to sell its 90 percent stake in a natural gas pipeline unit to France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec for $8.6 billion. Engie and the Caisse prevailed after multiple rounds of bidding for the unit, known as TAG, beating out Macquarie Group Ltd. and a joint bid from EIG Global Energy Partners and Mubadala Development Co. It is the biggest-ever single asset sale for Petrobras, whose new...

April 8, 2019
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05Apr

European Commission approves legal framework for Pan European Pension Products

1. What is the Pan-European Personal Pension Product (PEPP) and what is this new legislation about? The pan-European personal pension product (PEPP) is a voluntary personal pension scheme that will offer consumers a new pan-European option to save for retirement. This new type of product is designed to give savers more choice and provide them with more competitive products, while enjoying strong consumer protection. It could be offered by a broad range of financial providers such as insurance companies,...

April 5, 2019
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05Apr

China to cut social security contributions

China will cut the share of enterprise contributions to urban workers' basic aged-care insurance from 20 to 16 percent starting May 1, the State Council announced Thursday. Cutting the rates for unemployment and work-related injury insurance will be extended to April 30, 2020, You Jun, vice-minister of human resources and social security, said at a State Council Information Office news conference. The new policies will cut aged-care insurance fees by more than 190 billion yuan ($28.3 billion) and unemployment...

April 5, 2019
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