March 2018

07Mar

Ireland. Everyone has the right to a sufficient income in old age

Every person has the right to sufficient income to live life with dignity in old age. Every older person has contributed in one way or another over the years. Many contributed through their jobs. Others did so by caring for children, older people or people who were ill or disabled. Others still have made great contributions to their communities, to local organisations, to their families and friends. When people are older they should not be short of the essentials. Yet an...

March 7, 2018
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07Mar

It’s high time Gen X takes retirement seriously

Born into the Cold War and squeezed between two larger demographic groups, Gen Xers have long been known as the "forgotten generation." But for a bunch of loners whom the media gave up on in the mid-1990s, we Gen Xers have done pretty well for ourselves. We've built our own businesses and communities, quickly adapted to changing business environments and the rise of tech, and survived the worst financial crisis in modern history. As a Gen Xer myself, I'm proud...

March 7, 2018
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07Mar

CPPIB backs fledgling hedge funds as titans falter

Canada’s biggest pension plan aims to back as many as four fledgling hedge funds a year at a time when investors are balking at high fees and disappointing returns from the industry’s biggest managers. Canada Pension Plan Investment Board has made initial investments of as much as $250 million each in five startups and young hedge funds under its Emerging Managers Program in the past two years, according to Poul Winslow, Toronto-based head of thematic investing and external portfolio management....

March 7, 2018
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06Mar

US. Most Women Foresee Working Past Retirement Age

Retirement isn’t looking so simple for the ladies, according to research by Transamerica Center for Retirement Studies (TCRS). More than half of women plan to retire after age 65—or not at all. Of those, almost 85 percent blame finances. In a recent report titled Here and Now: How Women Can Take Control of Their Retirement, only 12 percent of women indicated being “very confident” they will someday retire comfortably. TCRS detailed several factors that may contribute to the lack of...

March 6, 2018
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06Mar

Employers shrug off Tier-2 pension for millions of workers

Most private sector employers are yet to comply with provisions of the Tier-2 pension scheme, which mandates companies to contribute 5 percent into a privately managed pension scheme. Out of 51,466 private establishments/companies active under the Social Security and National Insurance Trust (SSNIT), only 20,876 (40.5 percent) are enrolled under the mandatory Second Tier Occupational Scheme. The Tier-2 scheme is privately managed by trustees approved and licensed by the National Pensions Regulatory Authority (NPRA). Read More: Ghana Web

March 6, 2018
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06Mar

French Polynesia pension system risks going bankrupt- president

The French Polynesian president Edouard Fritch has again warned the pension system is at risk of going bankrupt. Mr Fritch has published an open letter which said the reform he wants passed is vital for the system's viability. His plan to raise the retirement age from 60 to 62 is being resisted by various groups and unions who have called for another general strike on Tuesday to force the government to ditch its plan. Read More: Radio NZ

March 6, 2018
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05Mar

Hong Kong gives fintech measures the thumbs up

Hong Kong’s budget proposals for the city’s compulsory pension system, including HK$15 billion (US$1.92 billion) for its so-called offsetting mechanism and potential tax breaks for voluntary contributions, have been welcomed by pension experts. Market players are also giving the thumbs up to measures to boost financial technology (fintech) and green financing, as the city aims to launch its first green bonds by next year. Hong Kong Financial Secretary Paul Chain unveiled the 2018 budget proposals on February 28. Read More: Asia Asset

March 5, 2018
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05Mar

UK. Pension funds quizzed over handling climate risk

The UK’s biggest pension funds are being asked how they are protecting people’s savings from the risks of climate change. The chairwoman of the parliamentary Environmental Audit Committee (EAC), Mary Creagh, has written to the top 25 pension funds in the UK to ask how they manage the risks that global warming poses to pension savings. It comes after an admission from the Government that “a lack of attention and outright misunderstanding remain widespread” among fund trustees on their duty to...

March 5, 2018
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02Mar

UK. Carillion directors dismissed plan to secure £218m for pension scheme

The board of Carillion dismissed a proposal that could have poured £218m into the government contractor’s ailing pension scheme, believing a month before the company’s collapse that they could still revive its fortunes. Details of a plan drawn up by accountancy firm EY, but rejected by directors, emerged as MPs conducting an inquiry into Carillion’s failure released evidence they said proved “pervasive institutional failings” at the company. They published extracts from a presentation made by EY to the board in August...

March 2, 2018
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