September 2018

19Sep

Pensions in Bulgaria will Rise by 5.7% from 1 July Next Year

Current estimates show that the upgrading of pensions from July 1 next year will be higher than in recent years. All pensions are expected to be raised by 5.7%, Labor and Social Policy Minister Biser Petkov told bTV on Tuesday. He explained that this was a direct consequence of the increase in income. According to Petkov there is no discussion of new growth of the minimum pension and promotion other than the annual indexation of pensions. Every year, from July 1,...

September 19, 2018
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19Sep

UK. Regulator to monitor 60 pension schemes ‘one to one’

The Pensions Regulator (TPR) is to launch a new approach to its workplace pension regulation which will see it provide 'one to one' supervision of 60 pension schemes. The new range of interventions aim to address risks sooner, clarify the regulator's expectations and take action where necessary. It will include the introduction of a supervision regime to monitor schemes more closely, with higher and lower intensity interventions dependent on the risks identified. From next month, TPR will implement one-to-one supervision for...

September 19, 2018
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19Sep

India. PFRDA caps MF investment by NPS; Kotak Pension most hit

A recent circular from PFRDA says pension fund managers of NPS can invest only 5% of corpus in mutual funds The pension regulator has finally taken cognizance of the fact that pension fund managers (PFMs) under the National Pension System (NPS) shouldn’t outsource fund management to mutual fund companies. A circular issued by the Pension Fund Regulatory and Development Authority (PFRDA) on 20 August puts a cap on the amount of corpus the PFMs can invest in MFs to manage...

September 19, 2018
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19Sep

Armenia to raise minimum pension by 60 per cent

Armenia’s government announced on September 17 that it plans to increase pensions by 60 per cent from January 1, 2019. According to the new bill, the new basic pension will be 25,500 drams (approximately 52.50 US dollars), which the government claims will be enough to top the threshold of food poverty. Armenia’s current basic pension is 16,000 drams. The news was broken by Mesrop Arakelyan, an advisor to Armenia’s prime minister, Nikol Pashinyan. However, on his Facebook page, Mr Arakelyan...

September 19, 2018
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18Sep

The 9 Craziest Ways These Millennials Are Saving Money To Retire Early

Maybe it was coming of age during the Great Recession and seeing their parents' retirement savings disappear. Or perhaps they're motivated by the ideas of investment and wealth management. Or maybe they just don't like their day jobs. Whatever the case, a small group of American millennials are bucking the trend and saving gobs of money in order to achieve FIRE or financial independence, retire early. Inspired in part by the personal finance bible, "Your Money or Your Life" by Vicki...

September 18, 2018
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18Sep

Watchdog Vows ‘Radical Shake-Up’ For Pensions Sector

Law360, London (September 17, 2018, 4:53 PM BST) -- A growing number of Britain's workplace retirement funds will face tougher scrutiny starting next month as part of a “radical shake-up” by The Pensions Regulator, the watchdog said Monday. Schemes of all sizes and across all sectors can expect more contact with the regulator as it accelerates efforts to identify risks and intervene sooner, outgoing Chief Executive Lesley Titcomb said in a statement. “Following a complete review of our entire approach to...

September 18, 2018
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18Sep

US 401(k) Plan Quality Correlates With Company Profits

Study finds companies with highly rated plans have gross profit margins well above average Companies with top-rated 401(k) retirement plans tend to be more profitable than those with low-rated plans. That is the conclusion of a new study from T. Rowe Price Group Inc., which found there is “a strong correlation between corporate financial performance and overall 401(k) plan quality,” said Joshua Dietch, head of the asset management firm’s retirement and financial education team. Read more WSJ

September 18, 2018
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17Sep

Malaysia’s second largest pension fund to restructure

Malaysia’s second largest pension fund is to undergo a revamp that will include the creation of a deputy chief executive officer (CEO) position and the appointment of a new chief investment officer (CIO), according to its top executive. The move comes after CIO Nik Amlizan Mohamed recently left Kumpulan Wang Persaraan (KWAP), a pension fund for civil servants, to head Malaysia’s Armed Forces Fund board. The restructuring may take “a couple of months” to complete, KWAP CEO Wan Kamaruzaman Wan Ahmad...

September 17, 2018
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17Sep

Zimbabwe’s Insurance And Pensions Commission (IPEC) Eyes Blockchain For Solutions

The Zimbabwean Insurance and Pensions Commission (IPC) is urging local insurance companies to make use of the ever-growing blockchain technology. Most industries are facing problems that can be solved by the blockchain technology. According to IPC, the technology will offer several advantages to the sectors. Some of the benefits are that the technology will make it easier for the companies to deal with the issues of low insurance and pensions penetration. IPC’s chairlady Mrs. Lynn Mukonoweshuro suggests that financial inclusion and...

September 17, 2018
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17Sep

Ireland. Health agencies face potential insolvency over pensions

Key health providers face possible insolvency in a dispute over pension liabilities in a confrontation that health officials warn could have adverse implications for Minister for Health Simon Harris. The State’s corporate watchdog, the Office of the Director of Corporate Enforcement, is pursuing a number of agencies that are funded by the Department of Health to provide services on behalf of the HSE over the manner in which they account for the pensions of their employees. The voluntary not-for-profit organisations –...

September 17, 2018
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