August 2021
16Aug

Pakistan’s unsustainable public pension system

In the last ten years, while Pakistan’s tax revenues increased by 2.7 times, the pension bill from the federal government, which includes military pensions (36 percent of the total annual pension liabilities), increased by 5.2 times. The local toll is said to be even higher, with numbers estimated at 7.1 times. Since 2013, numbers of government retirees have increased by 25 percent; however, the pension expense has increased by 432 percent from Rs 55 billion to Rs 238 billion. This does not...

August 16, 2021
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16Aug

3 Ugly Truths About Retirement in Canada

Saving for retirement has never been easy. In the days when private and public sector employers offered generous defined benefit (DB) pensions, that didn’t matter as much. But today, with private sector DB pensions all but extinct, you really have to save if you want to retire comfortably. If you’re a government worker with a very generous pension plan, then perhaps that doesn’t apply to you. But if you’re like most Canadians, you’re really going to need some savings to...

August 16, 2021
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16Aug

US. 3 Unexpected Sources of Retirement Income

When we think of retirement, most of us think of accumulating a large sum of money and then spending it down gradually. One of the best insurance policies to prevent spending all of your money is to have numerous sources of income in retirement. As you'll see, even small amounts of retirement income can go an incredibly long way in making sure you have enough to last you the rest of your life. Here, we'll look at three unexpected sources...

August 16, 2021
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13Aug

Finland tops global pension rankings

Finland's pension system has ranked number one in the world in 2021 while the UK has fallen “short of the mark”, ranking 25th out of 33 countries included in analysis by Blacktower Financial Management. The analysis used key metrics to analyse pension systems around the world, including public spending, average retirement ages, average pension contributions and the percentage of the population who have participated in pension schemes. Finland was deemed to have the best pension system in the world, recording high...

August 13, 2021
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13Aug

US. Five Retirement Planning Pitfalls (And How To Avoid Them)

As a financial advisor, one of the most commonly asked questions I get is, “What can I do to improve my retirement picture?” One of the biggest benefits of investing in a 401(k) plan is the ability to grow your assets over time. A 35-year-old who contributes $19,000 annually over a 30-year period can have $1.34 million to retire on at age 65, assuming a 5% annual return. Now that might sound like a difficult amount to put aside each...

August 13, 2021
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13Aug

UK. Over Two Thirds of Pension Savers Find Info on Fees Complex and Difficult To Locate

New research from PensionBee reveals that the majority of pension savers (67%) find information on fees complex and difficult to locate. The online pension provider found that almost half (47%) of respondents do not know how much they are paying in fees, with 24% reporting that they don’t know how to find this information. Of those that do know how much they are paying in fees, 29% report that they had difficulty in finding or understanding this information. These findings support...

August 13, 2021
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12Aug

Analysis: UN climate report increases urgency for green investment funds

Dire warnings about climate change are a call to action for investors who put their money into helping the environment. But the news also heightens a debate about how to make these strategies effective, financial executives said. Read also Asia vast savings can bring on an ‘age of sustainability’ A U.N climate report on Monday found that global warming is dangerously close to spiraling out of control. Even the most severe carbon emission cuts are unlikely to prevent global warming of...

August 12, 2021
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12Aug

Why it is important to start pensions early

Young savers and the self employed saw the largest proportional increases in financial vulnerability during the pandemic, rising by more than 40 percent, according to the Financial Conduct Authority. Since young people are now more likely to be much less comfortable retiring than their parents, it is important to start preparing for retirement sooner rather than later. Advice firm Purely Pensions has warned that savers in their 20s could lose more than £21,000 at retirement if they put off making contributions...

August 12, 2021
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12Aug

Running the numbers: How each generation is saving for retirement

Many workers are struggling with financial security, made even more pronounced by the COVID-19 pandemic – though most are still saving something for retirement, according to the report, Living in the COVID-19 Pandemic: The Health, Finances, and Retirement Prospects of Four Generations by the nonprofit Transamerica Center for Retirement Studies (TCRS), in collaboration with Transamerica Institute. 82 percent continue to contribute A majority (60 percent) of the 3,109 workers surveyed had to make one or more adjustments to their finances due to...

August 12, 2021
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12Aug

45% of Singaporeans surveyed have not started planning for retirement

This was more apparent in the younger demographic (aged below 35), a survey has noted. Reasons include: 20% of plan to rely on their spouse or family members for it, and 61% are confident they will have sufficient funds for it. More details here. One in three Singaporeans (39%) are worried they will not have enough funds for retirement, yet not many are acting on it, a recent report by Endowus has found. In particular, this was seen more in respondents...

August 12, 2021
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