November 2017

29Nov

Kenya. Pensions raise stockholding as Nairobi bourse recovers

Pension schemes invested more in equities by cutting back on other investment classes in the third quarter as the stock markets rallied despite political intrigues. A survey of 372 schemes by consulting firm Zamara Group (formerly Alexander Forbes Financial Services EA) shows pension providers raised equity allocations to 23.9 per cent in the three months to September, up from 21.5 per cent in the previous quarter. It showed fixed income still had the largest share of investment by pension funds at...

November 29, 2017
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29Nov

US. Retirement plans expected to be untouched in Senate tax reform bill

The full Senate is expected vote on its version of the tax reform bill as early as this week, and so far, it leaves 401(k) plans and IRAs untouched. That can always change, however, says Erik Carter, senior financial planner at financial wellness company Financial Finesse, so it is important for employers to keep an ear to the ground as the bill makes its way through debate on the floor. Currently, “retirement provisions in the bill are not intended to raise...

November 29, 2017
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28Nov

UK. Millennials will have similar pensions to baby boomers, says report

Young adults will have retirement incomes similar to today’s pensioners, according to analysis which rejects widespread pessimism about the financial prospects for millennials. Men in their 40s will suffer a fall in their retirement incomes compared with today’s pensioners, but the generation behind them will see their incomes recover, analysis by the Resolution Foundation found. It said the average pension for a man will be about £310 a week in 2020, taking into account state and private pensions. This will fall to about...

November 28, 2017
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28Nov

Brazil. Ministry Sees Risk of Recession if Pension Reform Bill Is Not Approved

A report conducted by the Planning Ministry assesses that if the pension reform bill is not approved by next year, the country will face yet another recession in 2019. The payment of pensions is the federal government's biggest expense. In order to tackle an ever-increasing deficit – which, according to official numbers, will reach R$ 184 billion (US$ 57 billion) by the end of the year – the federal government will be forced to take out further loans in order...

November 28, 2017
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28Nov

S. Korea. State pension fund grows sharply over 30 years

South Korea's state-run pension fund has posted exponential growth since its inception about 30 years ago, but it still has a long way to go in order to serve its intended purpose, analysts said Tuesday. South Korea adopted the state pension program in 1988 to guarantee income for the elderly after retirement, and to provide coverage for disabilities and surviving family members. According to data from the National Pension Service, the number of subscribers to the National Pension Fund came to...

November 28, 2017
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28Nov

US. Changes, trends and best practices for 401k administration in 2018

Whe new year won’t bring significant changes to 401k plans, experts say, which means it’s the perfect time for employers to boost their financial education efforts. Employees who are stressed about finances have lower productivity. And, when workers don't retire because they can't afford to, employers are faced with a talent logjam that creates high healthcare costs and a brain drain when those workers leave. These phenomenons have, in recent years, led employers to take various actions, from offering flexible...

November 28, 2017
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28Nov

Brazil stocks fall on pension reform jitters

Brazilian stocks fell on Monday as traders feared the government might have to weaken pension legislation further to ensure its approval in Congress. President Michel Temer's administration agreed last week to soften its controversial plan to streamline the social security system after facing strong opposition from lawmakers. That proposal would generate fiscal savings of about 60 percent of the government's original proposal, down from 75 percent under a previous version. Investors widely see the bill as necessary to curtail rising public...

November 28, 2017
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27Nov

Can Tech Tools Help Millennials Avoid A Looming Retirement Crisis?

Regardless of their age, background or investment philosophy, advisors agree on one thing: Technology is changing the way they do business. Ask them about their client communication, back-office operations and workflow, and almost every advisor will start by marveling, "There have been so many advances in recent years," as one planner recently put it. Tech tools enable them to allocate their time better so that they can concentrate on listening to clients and helping them address current financial challenges...

November 27, 2017
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27Nov

Pension scheme trustees urged to prepare for imminent EU regulation

Although the regulation is not expected to impact trustees directly, it is thought that new rules for brokers and asset managers may affect UK pension schemes’ current contractual relationships. The EU legislation is designed to offer greater protection for investors while injecting more transparency into all asset classes, taking effect on 3 January 2018. Sacker & Partners LLP have identified several steps trustees should be taking now, which include: 1) Obtain an LEI number – this can be done at the London Stock...

November 27, 2017
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27Nov

China. Fintech energizes real economy

Chinese financial technology or fintech firms are expected to lead industry innovation and facilitate growth of small and medium-sized enterprises or SMEs in the Asia-Pacific region, said an executive of a leading Chinese fintech company. Tang Ning, founder and CEO of Beijing-based CreditEase, said tremendous development opportunities await fintech firms as well as peer-to-peer or P2P lenders in the next decade despite a stricter regulatory environment. After more than 10 years of development, China's fintech has entered the world's top league....

November 27, 2017
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