March 2018

09Mar

UK retirement bill up more than £1 trillion in five years as pension crisis escalates

The UK’s pension funding crisis reached a new milestone this week as the Office for National Statistics revealed that liabilities rose to £7.6 trillion at the end of 2015. The figure, which is the total amount promised to pay for Britons’ future retirement income, includes £5.3 trillion of pension entitlements that were the responsibility of central and local government, most of which – about £4 trillion – came from State Pension entitlements. The remaining £2.3 trillion were private sector employee pension...

March 9, 2018
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08Mar

Northern Ireland. Pension fund urged to get out of fossil fuels

Fossil Free Northern Ireland wants the NI Local Government Pension scheme to cut its ties with major firms. They include companies like BP and gas firm Centrica which has interests in shale gas exploration, or fracking. But the fund has already said it will not take its money out of oil and gas. Climate change The pension scheme is the biggest in Northern Ireland and covers 118,000 workers employed by public bodies. Read More: BBC News

March 8, 2018
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08Mar

Exploring Belarus’s massive gender longevity gap

The Belarusian gender debate understandably focuses on women’s rights, but in reality, men deserve as much attention. Belarusian men have a far lower life expectancy than women; lower even than North Korean men. Both men themselves and state authorities bear responsibility for this. Belarus remains one of the most alcoholic nations in the world and Belarusian men generally treat their health with indifference. This has painful consequences. Families lose a parent and a money-maker, while the state loses a taxpayer. Even...

March 8, 2018
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08Mar

66% of Millennials have nothing saved for retirement

That's no surprise. After paying bills, rent and making student loan payments, there's often not much leftover each month for young people, many of whom entered the workforce at a time of stagnant wages and high unemployment. But a new report shows just how far off track they might be. About 66% of people between the ages of 21 and 32 have absolutely nothing saved for retirement, according to the National Institute on Retirement Security. The report is based on...

March 8, 2018
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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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