September 2018

12Sep

Sukuk – a new avenue for funding African infrastructure

African governments need to embrace private sector infrastructure investment to alleviate the burden on the public purse. Fully convertible exchange rates and allowance for capital to easily move in and out of African countries should be deemed precedent conditions. Sukuk – the Islamic equivalent of bonds – give investors a share of an asset together with the attendant cash flows and risk. It can only be extended to productive activities, trade, and real assets. Globally Sukuk issuance in 2017 increased by 45.3%,...

September 12, 2018
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12Sep

US. Trump takes a first step to boost retirement security

President Donald Trump recently issued an executive order aimed at strengthening retirement security in America. It's a step in the right direction, but tackling two additional issues would truly address the pressing needs of working Americans who want to save for retirement. Mr. Trump's Aug. 31 order directs the Department of Labor and the Department of Treasury to encourage the adoption of multiple employer plans (MEPs), which allow small employers to pool resources and costs to offer retirement plans to...

September 12, 2018
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12Sep

UK. Millions risk a ‘minimum wage’ old age

Millions of workers are facing a “minimum wage pension” as automatic enrolment contributions are too low, experts warned yesterday. The amount put into employees’ “defined contribution” pots has fallen dramatically in six years. The average amount saved into pensions by employees and their employers was 3.4 per cent of salary in 2017, falling from 4.2 per cent in 2016 and from a 9.7 per cent high in 2012. This is despite the number of people saving for their old age reaching...

September 12, 2018
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12Sep

China. Asset management firms see potential in pension funds

One month after the central regulator gave the green light to pension target securities investment funds, asset management companies have sped up their growth in the market. Two pension target securities investment fund products from Shanghai-based Zhong Ou Asset Management and Beijing-based Manulife Teda Fund Management started to be sold to the public on Monday. Both products will adopt the fund of funds strategy, with a portfolio that consists of multiple underlying mutual funds and each of those underlying funds...

September 12, 2018
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11Sep

Will an ageing workforce prove beneficial or detrimental to your business?

Figures released by the Office for National Statistics (ONS) revealed that the UK’s population reached its largest ever tally at 65.6 million during 2016. The nation’s population isn’t only getting bigger mind, as it’s also getting older as well. The ONS underlined this point, by recording that 18 per cent of citizens in the UK were 65+ in 2016 and that 2.4 per cent were 85+. With our population getting older, it stands to reason that businesses throughout the UK...

September 11, 2018
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11Sep

Russia. Putin Allies Suffer Election Setbacks Amid Pensions Protests

Russian President Vladimir Putin got a taste of public anger at his plans to increase the pension age as voters turned on the ruling party in regional elections and hundreds were arrested at protests against the reform. United Russia’s candidates for governor in four regions, mostly in the country’s east, were forced into runoffs after failing to win majorities in elections Sunday. They trailed Communist and nationalist opponents in two of the races, gaining as little as 32 percent support...

September 11, 2018
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11Sep

US. Another Hit to Retirement Plan Investors: Financial Transaction Tax

An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern Markets Initiative is pushing back on a tax provision in the bill. The Inclusive Prosperity Act of 2017 has been introduced in the Senate and includes a financial transaction tax (FTT). According to Modern Markets Initiative (MMI), the FTT would be applied to every stock traded, including a 0.5% rate on equity, a 0.1% rate on debt and a...

September 11, 2018
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11Sep

Worlds largest public pensions in breach on climate change

A handful of public pension funds, mostly based in Europe, are showing true leadership on climate change, demonstrating robust approaches to aligning their investments with the low-carbon transition. However, over 60 per cent of pension funds have little or no strategy on climate change, according to a new global assessment of the sector ‘Pensions in a changing climate’ is the first in a series of four reports on the pensions sector produced by the Asset Owners Disclosure Project (AODP), which...

September 11, 2018
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10Sep

150 held over pension protests in Russia

Thousands of supporters of jailed opposition leader Alexei Navalny have protested across Russia against planned increases to the pension age, with a rights group saying at least 153 of them had been detained by the police. The protests were a challenge to the authorities who were hoping for a high turnout at regional elections, also being held on Sunday, despite widespread anger over the pension move. "The authorities are not listening to people and that means it's time to take to...

September 10, 2018
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10Sep

Welfare boost for 4.8 million Australians

Single pensioners will soon receive an extra $8.70 a fortnight and couples will pocket an additional $13.20 following a twice-yearly change to indexation rates. Unemployed Australians will take home about $2 more each week, while parenting payments will also rise by about $3 per week. Rent assistance rates will also increase from September 20, as will a range of income and asset test limits for various payments including the age pension. Welfare rates are raised every six months to help people handle...

September 10, 2018
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