July 2018

04Jul

Africa’s pension funds can be quite handy

In Africa, there has been the emergence of an ecosystem built around pension funds. A recent institutional investor study estimated that the ten largest funds in Africa held a combined $310 billion in assets. This has transpired for a number of reasons, not least being the fact that many of these countries are switching from defined benefits to defined contribution schemes. In Botswana, where the shift took place in 2001, there are more than 100 pension funds jostling for funds...

July 4, 2018
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04Jul

Thailand’s $26 Billion Pension Fund Shuns Emerging Markets

The slide in emerging markets is spooking Thailand’s $26 billion Government Pension Fund. The fund will continue to avoid investing in developing-nation equities and bonds because of the risk of increased outflows due to global trade tensions and weakening currencies, according to its Secretary General Vitai Ratanakorn. The return on investment has been “disappointing” this year, compared with a 6.4 percent gain in 2017, as the value of domestic and foreign equities has slumped, Vitai said. The fund has boosted holdings...

July 4, 2018
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04Jul

Croatia. Government Further Explains Pension Reform and Tax Cuts

The relevant cabinet ministers presented outlines of the pension reform plan and the second phase of the tax reform to the leadership of the ruling Croatian Democratic Union (HDZ) party on Monday evening, Prime Minister and HDZ leader Andrej Plenovikc told the press after a three-hour meeting of the HDZ presidency and the national council. He said that the ideas presented were received well and that he expected further public consultation and debate on the best and viable solutions. He...

July 4, 2018
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03Jul

Can a reverse mortgage help save an underfunded retirement?

What if you’re close to retirement (or retired) and the bulk of your net worth is tied up in the value of your home? Such a situation is what experts call being “house rich, but cash poor.” For many seniors, their largest retirement asset is their home. And so, of course, the financial institutions found a way for folks to tap that money. It’s called a reverse mortgage, which allows people who are 62 or older to borrow against their home’s...

July 3, 2018
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03Jul

100 Largest US Pensions Lose $27.8 Billion in Q1

The top 100 US public pension systems have had their worst performance since September 2015, reports new US Census Bureau data. Total earnings for the funds were just $14.3 billion in this year’s first quarter, and total assets lost $27.8 billion. They are now down to $3.78 trillion. Totals have not slipped since September 2015, the Census Bureau reports. Pension contributions from employees and employers also fell in the quarter. Benefit payments saw a small increase. Read More: Chief Investment Office

July 3, 2018
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03Jul

Pensions and Pemex to figure in Lopez Obrador’s Mexico plans

Mexico’s next president, Andres Manuel Lopez Obrador, supports ideas such as creating a fiscal committee for prudent economic management, reforms of pensions and cost-cutting at state-owned oil firm Pemex, a senior aide told Reuters. The leftist Lopez Obrador won a landslide victory on Sunday, besting a four-candidate field with more than 53 percent of the vote in preliminary results. In the elections for Congress, his MORENA party and its allies could win majorities in both chambers, according to projections based...

July 3, 2018
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02Jul

Ireland’s ‘bizarre pensions landscape’ criticised by industry leader

Consultation on the proposed introduction of mandatory pension savings in Ireland misses the point: what is needed is simplification of Irish pension structures. At least that’s the view of Ireland’s pension trustees. The Government is preparing to launch a public consultation on how best to introduce auto-enrolment to ensure Irish workers have an adequate pension in retirement. Less than half of private-sector employees currently have occupational pension cover. Tommy Nielsen, chairman of the Association of Pension Trustees in Ireland, and legal...

July 2, 2018
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02Jul

Russians protest pension reform as Putin popularity slides

Several thousand people protested Sunday across Russia against a hugely unpopular government decision to hike the pension age that has led to a record slump in President Vladimir Putin's approval ratings. Rallying in dozens of cities from the far east and Siberia to central and southern Russia, many urged Putin to oust the government, while some called on the Kremlin leader himself to "retire." Both Kremlin-friendly trade unions and political parties and Putin's top critic Alexei Navalny organised the rallies, in...

July 2, 2018
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June 2018

29Jun

Portugal. Civil service unions reiterate demand for 4% pay rise

“We shall today hand in the Common Demand Proposal for 2019, which was approved at a summit of unions on 22 June," Ana Avoila said at an impromptu news conference in front of the Ministry of Finance building in Lisbon. "It is a proposal that, this year, is being handed in earlier." Among the demands in the document is one for a 4% increase in salaries and pensions. “We are still awaiting the government's counterproposal to our demands," she said, adding...

June 29, 2018
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29Jun

PEPP Expat Pensions Ready To Roll In Europe

The new European Union PEPP pension for expats is ready to go, according to the latest reports. Draft regulations are to go before the European Parliament to allow the roll-out of the new-style pension across Europe. PEPPs – Pan European Pension Products– are designed to give retirement savers more choice while boosting the market for personal pensions, which is generally poor across the continent. Read More: iExpats

June 29, 2018
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