This time last year French president Emmanual Macron was riding high. By July the ride was over. After a hellish few months, there are doubts that he will be now be able to push through his proposed reforms for 2019. Macron's big thing was his determination not to back down in the face of opposition - until he did. His decision to find 10 billion euros to try to placate the Yellow Vests might not have neutered them and...
The average U.S. corporate pension plan lost 4.7 percent last year after stocks tanked in the fourth quarter, according to Willis Towers Watson. Steep year-end declines in U.S. stocks left America’s largest public companies deeper in the hole for their pension obligations, according to analysis by consulting firm Willis Towers Watson. Pension funding levels for Fortune 1000 companies dipped to an estimated 84 percent after a volatile fourth quarter culminated in sharp losses in December. The Standard & Poor's...
A lawsuit between Transamerica Corporation and Sanford Heisler Sharp, LLP filed on December 28, alleges the company violated its duties under ERISA and abused employees' trust by mismanaging their retirement funds. The lawsuit claims the company invested employee retirement savings into funds that consistently underperform in their investment benchmarks and similar funds. Documents allege Transamerica has cost its employees millions of dollars in retirement savings that were a part of the Transamerica 401(k) Plan. Plaintiffs Jeremy Karg, Matthew R....
Americans Spend More Than $5,000 a Year on Non-Necessities The survey asked respondents how much they spent annually on the following six categories: Eating out and food deliveryCoffeeAlcoholRide-sharing services and taxisClothing and accessoriesEvents (e.g. concerts, sports) On average, respondents spent $5,339 annually on all of those expenditures combined. The biggest source of nonessential spending is eating out, takeout and food delivery. Respondents said they spent an average of $2,167 a year on food that they didn’t prepare at home....
With a 31pc increase in people aged over 65 in 15 years, organisations and individuals are working hard to handle what many see as a crisis - the ageing population. Norfolk County Council spends on average £1m a day on adult social care in Norfolk, with around 14,000 people using its services day to day. More still are looked after by family and friends. The county has an older population than most in the UK, which is predicted to...
Starting this week, (CPPIB) will receive and invest additional Canada Pension Plan (CPP) contribution amounts, helping to safeguard increased retirement income for current CPP contributors and future generations. Federal and provincial governments decided in 2016 to expand the CPP to provide enhanced future benefits for workers who contribute, creating a stronger foundation for retirement. As the investment manager of the CPP Fund, CPPIB is responsible for prudently investing the additional contribution amounts arising from the enhancement to the CPP....
The world’s third-largest pension fund is in jeopardy of being depleted by 2057. The South Korean government has unveiled proposals to help reform the country’s pension system, as an aging population combined with record-low birth rates threatens to deplete South Korea’s $578.7 billion National Pension Fund by 2057. The country’s Ministry of Health and Welfare announced four proposals to maintain a balance between reinforcing recipients’ benefits and securing the fund’s stability, according to the Korea Herald. “The national pension...
The long-delayed cold call ban has finally been approved into law, and will be effective from 9 January next year. Its introduction marks the end of an arduous journey that saw the government put off implementing the cold call ban on multiple occasions. Initially the ban was scheduled to come into force at the end of June this year but the Treasury delayed it due to “technicalities”. The government then announced progress on a pensions cold calling ban among...
Government will look to nudge self-employed workers to save towards a pension with the help of tech but tax reliefs may provide more effective in the long-run. The amount of self-employed workers who save towards their pension has more than halved in ten years, from 30 per cent in 2006/07 to 14 per cent in 2016/17 while self-employed workers grew from 3.3 million in 2001 to around 4.8 million this year. This has helped to create a self-employed pensions...
The Retirement Parity for Student Loans Act would permit 401(k), 403(b), and SIMPLE retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Senators Ron Wyden, D-Oregon, and Ben Cardin, D-Maryland, have introduced legislation that would allow 401(k), 403(b) and SIMPLE retirement plan sponsors to use their plans to provide student loan repayment benefits to employees. According to a summary of the bill, The Retirement Parity for Student Loans Act would...
