April 2018

06Apr

UK. Pension contribution increases a ‘harsh jolt’ for millions

From the start of the new tax year on Friday, workers in auto-enrolment pensions will see minimum contributions rise from 1% of their income to 3%. One accountancy firm is warning that pay packets will suffer as a result. But other experts say the contributions are easily affordable and will mean higher incomes in retirement. "The increase in monthly auto-enrolment pension contributions may result in a decrease in take-home pay for some workers," said Rebecca Goldring, a tax manager at accountancy firm...

April 6, 2018
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05Apr

South Africa. A retirement plan few will tell you about

For those of you who do not know what a tax-free savings account is, it is basically government’s way of giving you money encouraging people to save and invest. Everything you put into a TFSA is, well, tax free. There is no Capital Gains Tax, and you wont be taxed on any interest, income or dividends. In short, TFSAs are pretty awesome. However, there are a few rules. You are not allowed to put more than R33 000 a year into...

April 5, 2018
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05Apr

NZ has one of least generous pensions in OECD

New Zealand has one of the least generous pensions relative to the working wage, according to research by the Organisation for Economic Co-operation and Development (OECD). Retirees in the Netherlands receive more than 100% of their country's average working wage but Kiwi superannuitants get just 43% - ranking it 6th worst equal with Australia. But it could be worse. Pensioners in the United Kingdom get just 29% of the average working wage and those living in South Africa, which is not in...

April 5, 2018
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04Apr

New Zealand. Niue premier changes his mind on pension portability

The premier of Niue has withdrawn his island's support for changes to the New Zealand pension portability scheme. The New Zealand government announced last month it had plans to improve access to pensions for people in the realm countries of Niue, the Cook Islands and Tokelau. Under the current scheme people need to live and work in New Zealand for at least five years past the age of 50 but New Zealand Foreign Minister, Winston Peters, announced the government is looking...

April 4, 2018
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04Apr

Brazil prosecutors sue pension funds over investment losses

Brazilian authorities said on Tuesday they had filed lawsuits against 17 people and two companies over losses suffered when the Petrobras employee pension funds and the Caixa Economica Federal invested in a special fund without due diligence. The lawsuit is seeking 219 million reais ($65.55 million) in compensation, which authorities said is three times the losses caused by the poor investments. Petros did not immediately respond to a request for comment on the lawsuit. Caixa Economica’s pension fund Funcef declined to...

April 4, 2018
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03Apr

US. Deadline nearing for retirement plan decision

Small business owners who are considering starting retirement plans for their employees have a chance to save on their 2017 taxes. If they want to set up the least complex plan, the SEP, or Simplified Employee Pension, they can still do so by the due date for their returns — and that could be as late as Oct. 15 if they get an extension of the upcoming April 17 filing deadline. SEPs require very little paperwork and reporting to the...

April 3, 2018
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03Apr

Aging Populations Will Challenge Healthcare Systems All Over The World

Demographic change is a defining issue of our time. As the worldwide population ages, the healthcare systems of every country, including the United States, will face significant challenges to meet the needs of an aging population. This article is the first in a series that will explore how nations are coping with demographic change. The series on aging will give you a close look at the future of long term care through the lens of a number of different healthcare...

April 3, 2018
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03Apr

Puerto Rico gov defies board, rejects reform, pension cuts

The powers of a federal control board overseeing Puerto Rico’s finances could soon be tested as the U.S. territory’s governor on Monday defied its calls to implement more austerity measures amid an 11-year recession. Gov. Ricardo Rossello rejected demands that his administration submit a revised fiscal plan to include a labor reform and a 10 percent cut to a pension system facing nearly $50 billion in liabilities. He said the plan he will submit Thursday also will not contain any...

April 3, 2018
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02Apr

US. Top 10 Industries With The Best 401k Plans

Little surprise, bean counters have the best 401k plans. Judy Diamond Associates is out with its third annual 401(k) Plan Benchmark Report, which lists the top industries leading the pack. The division of ALM Intelligence examined approximately 500,000 active 401k plans with at least $3,000 in plan assets. It found the following: Certified public accountants Financial advisory Legal Dental Insurance providers/brokers Physicians Engineering Financial and insurance services (all others) Consultants Mining and utilities Read More: 401K Specialist

April 2, 2018
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