October 2018

31Oct

US. The Dangerous Consequence Of Cutting Public Safety Pensions

Management consulting firm McKinsey reports that organizations that appear on “best places to work” lists often make the cut because their business strategy is premised on a long-term relationship with their employees. McKinsey credits companies for both the large and small signals sent to employees that an organization cares about its people. Valued by employers as a workforce management tool to recruit and retain talent, offering defined benefit (DB) pension benefits is one way that employers send a loud signal to employees...

October 31, 2018
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30Oct

It’s Never Too Soon: Retirement Planning for Millennials

Millennials are in a bind, squeezed by changing workplace opportunities and massive student debts. To get on the right path to build their wealth, they should follow these four steps. Much has been written about the shaky financial health of Millennials, most notably that they are lagging behind other generations in personal net worth and falling behind in their retirement savings. This is due less to the popular belief of excessive spending and an alleged aversion for saving money, and...

October 30, 2018
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30Oct

US. Pension Funds Point Finger at Lobbyists of Polluting Companies

A group of pension funds that control $2 trillion are pushing for 55 large European energy, mining and transportation companies to scale back their anti-climate lobbying. Sweden’s AP7, Legal & General Group Plc, the Church of England’s pension fund and Robeco of the Netherlands wrote to the chairman of each company, asking them not to use organizations that try to ease governments’ environmental rules and to be transparent about their own lobbying. The list of recipients includes 10 oil and...

October 30, 2018
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30Oct

UK. TPR bans pension trustees over high-risk investments

The Pensions Regulator (TPR) has banned two trustees of the London Quantum pension scheme for transferring funds into high-risk and suspected scam investments. Stephen Ward and Anthony Salih, directors of Dorrixo Alliance Limited, which acted as trustee for the London Quantum pension scheme were found to have put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays. TPR’s determinations panel has banned both men from acting as pension trustees due to their ‘lack of...

October 30, 2018
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30Oct

Bulgarian Pensions to Increase by 5.7% From 1 July 2019

Bulgarian government approved the bill on the state social security budget for 2019. According to it by 5 July the pensions granted by the end of 2018 will increase, announced the press center of the Council of Ministers. As of 1 July 2019, the minimum amount of the retirement pension will be raised to BGN 219.43. From the same date, the maximum amount of one or more pensions received will increase from BGN 910 to BGN 1,200. In 2019, BGN 9,988.2...

October 30, 2018
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30Oct

Chile’s Pinera presents pension reform plan in bid to boost payouts

Chilean President Sebastian Pinera presented a plan on Sunday to reform the country´s ailing pension system in an effort to boost payouts seen by many as insufficient in one of Latin America´s most stable economies. Pinera said in a televised evening address that he would ask employers to pick up the tab for an additional 4 percent contribution to each of their workers´ pension funds, to be phased in and managed by an administrator of the employee´s choosing. Read also Chile. Piñera...

October 30, 2018
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29Oct

Bolsonaro will focus on Brazil pension reform, bilateral trade: Guedes

Brazilian president-elect Jair Bolsonaro’s top economic advisor and proposed economy minister, Paulo Guedes, said on Sunday that reforming the country’s costly pension system would be a top priority for his government. Guedes, speaking shortly after Bolsonaro’s commanding win, said that Latin America’s biggest economy would seek bilateral trade deals, criticizing the restrictions of South America’s Mercosur trade bloc. He said a proposed tax overhaul would generate some 10 million jobs by cutting payroll taxes. Read more Reuters

October 29, 2018
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29Oct

UK. Budget 2018: Dutch-style pensions revolution could see thousands of workers pool retirement pots

Tens of thousands of workers will be able to pool their retirement pots under a pensions revolution expected to be outlined in the Budget. Philip Hammond is expected to announce a consultation on Dutch-style pension schemes - known as "peoples' pensions" - which will thousands of members pay into a single pot. The approach is seen as a "middle way" between gold-plated final salary schemes, which guarantee income in retirement but can leave companies with huge deficits, and defined contribution schemes...

October 29, 2018
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29Oct

10 Climate change actions for pension fund managers

The International Centre for Pension Management (ICPM) has put out a paper on climate change and on the difference it makes for investments. The issue of climate change has, in recent years, gone from “being considered a niche issue to one of potentially major financial consequences for all investors,” one that has already impacted and will increasing impact “companies, investment portfolios, and capital markets.” There are three particular issues that asset owners, including pension funds, must face: climate change is driving...

October 29, 2018
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26Oct

Namibia: Pension Funds Could Boost Economy Through Infrastructure Fund

"Investing in scary times" was the theme of an event held by Eos Capital, a private equity manager, in Windhoek on Tuesday. Speaking at the event was the CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Tanya van Lill, with the key message that pension funds in Namibia can find attractive and safe returns during these times by investing in private equity and infrastructure funds while also helping to stimulate the economy. Pension fund assets as...

October 26, 2018
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