May 2018

01May

Migration, social exclusion and Europe’s rapidly ageing population top agenda of regional humanitarian summit

Red Cross and Red Crescent leaders from across Europe are meeting in Kazakhstan this week to chart their response to the region’s key humanitarian challenges. The 10th European Regional Conference of Red Cross and Red Crescent Societies will bring together senior leadership of the 53 European National Societies on May 2-4 2018. Migration This is the first regional gathering of this kind since the start of the migration crisis in Europe in 2015. National Societies have been at the forefront of the continental...

May 1, 2018
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April 2018

30Apr

Malta. The pensions myopia – Michael Briguglio

The Labour government is banking on the influx of foreign workers to finance Malta’s pension system. This is the same system which is using revenue from today’s social security contributors to pay today’s pensioners and which will therefore require tomorrow’s social security contributors to pay tomorrow’s pensioners, unless sustainable reform takes place. In the meantime, Malta is undergoing the process of an ageing population, which means that in the future there will be comparatively less workers available to finance the...

April 30, 2018
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30Apr

India’s $35 Billion Government Pension Fund Sees Stock Boost

India’s $2.3 trillion equity market has surged in recent years, and is about to get a new endorsement -- from the nation’s pension regulator. “We are pressing the government to increase the equity proportion for government employees, and expect a favorable response very soon,” from the Finance Ministry, Hemant Contractor, chairman of the Pension Fund Regulatory and Development Authority, said in an interview. The PFRDA has called for a bump to 50 percent, from 15 percent -- to match the...

April 30, 2018
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30Apr

EU Pushes Member States to Do More to Ensure Adequate Pensions

The European Union said “more needs to be done” by EU member states to ensure adequate pensions across the bloc. “Member states pay more and more attention to sustainable, adequate pensions in their reforms, but further measures will be needed in the future,” according to the latest Pensions Adequacy Report, published on Monday. “Our priority must to be to pursue ongoing reforms that encourage adequate pensions for everyone,” Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said in...

April 30, 2018
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27Apr

China. Pension fund of $75 bln entrusted for investment by March

Twelve local governments have entrusted a total of 475 billion yuan ($75 billion) in pension funds to the National Council for Social Security Fund (NCSSF) for more diverse investments, of which 306.65 billion yuan had already been put into use. The Ministry of Human Resources and Social Security said Beijing, Shanxi and Shanghai were among 12 provincial-level regions to sign the contract worth 475 billion yuan by the end of March. As the financial lifeline for China's elderly, the flow of...

April 27, 2018
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27Apr

US Treasury yield curve flattening to intensify with US pension plan bond-buying

Corporate pensions are shifting a chunk of their $1.55 trillion in assets into fixed income, which may be sizeable enough to flatten the yield curve further. The funding gap, between what corporations owe in pension plan obligations and their assets, narrowed by $72.4 billion last year as the US stock market rallied and companies from Boeing Co to Verizon Communications Inc made multi-billion dollar contributions, according to a new study by Seattle-based consultants, Milliman. But as funding improves, pensions reduce their...

April 27, 2018
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27Apr

Taiwan. President, premier condemn violence

The Presidential Office yesterday condemned the outbreak of violence at Wednesday’s pension protest and vowed to continue with its pension reform, while Premier William Lai (賴清德) said the Cabinet could lead legislative efforts to toughen the penalties for assaulting a police officer. Violent lawbreakers do not represent the nation’s patriotic and loyal soldiers, President Tsai Ing-wen (蔡英文) said on Wednesday on Facebook, hours after rioters assaulted and injured 68 police officers and 16 journalists at a protest staged by the...

April 27, 2018
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26Apr

Why Retirement Planning Should Be About Teaching Us How To Live In Retirement

A few weeks ago, I had the pleasure of meeting Whole Foods founder and CEO John Mackey. He engaged me in a fascinating discussion about the importance of diet in living well, drawing heavily from his new book with Drs. Pulde and Lederman, The Whole Foods Diet: The Lifesaving Plan for Health and Longevity. What I gleamed from my conversation with Mackey about his retail success was the existence of a crucial element that was consciously integrated into the design...

April 26, 2018
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26Apr

Ghana. Explore alternative sources of funding pension schemes – Bawumia

Vice President Dr Mahamudu Bawumia has underscored the need for stakeholders in the pension management in the country to explore alternative sources of funding pension schemes without any entrenched positions. He said future governments would not have to resort to borrowing to pay pension benefits with its accompanying interest cost, noting that any government that borrows to pay retirement benefits could not build a resilient economy. He therefore called for prudent management of the country's pension resources, adding "it is imperative...

April 26, 2018
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25Apr

Spain. The Toledo pact opens to retake the IPC in the revaluation of pensions

The mobilizations of pensioners of past few months are having consequences. First it was an increase of 0.25% this year for lower pensions that was reflected in budgets. Now within pact of Toledo, an agreement is being opened up which would reposition prices and its evolution at centre of annual revaluation of pensions, according to several parliamentary sources. The final text of recommendation two, which refers to revaluation of pensions, of new edition of Toledo Pact is not yet...

April 25, 2018
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