July 2021
27Jul

Average German pension has risen 34 percent in 10 years

Average pensions in Germany have increased significantly over the past 10 years, RND reports, citing figures from the Deutsche Rentenversicherung. Accordingly, 10 years ago, newly-retired people who had contributed to social security for at least 35 years received an average of 962 euros per month. Most recently in 2020, someone entering retirement who had contributed for the same length of time received an average of 1.290 euros per month - 34 percent more than in 2010. In the western federal...

July 27, 2021
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27Jul

Japan´s EPSF plots to build a financial system that supports sustainability

Prime Minister Yoshihide Suga announced Japan’s aims for carbon neutrality and substantially zero CO2 emissions by 2050, in his October 2020 policy speech. He also announced at the climate change summit held in April 2021 that Japan aims to reduce its greenhouse gas emissions by 46% in FY2030 from its FY2013 levels. In order to achieve these types of environmental goals, many major countries consider that large scale of private funds would be required for the transition towards such new...

July 27, 2021
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26Jul

US. Ohio Pensioners May Hold The Key To Finally Fixing America’s Struggling Public Pensions

It’s no secret that America’s struggling public pensions are a hot mess. Lack of comprehensive state regulation; the failure of legislative oversight; lay boards lacking investment experience; Wall Street donations to corrupt influential politicians and law enforcement indifference, all contribute to the morass. It seems, on the one hand, no one with authority over pensions wants to see improvements and, on the other, participants whose retirement security is at risk have no say as to how their savings are...

July 26, 2021
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26Jul

Ghana. GSE boss asks pension funds to boost equity holdings

The Ghana Stock Exchange (GSE), which is experiencing a bull market this year, provides enormous opportunities for pension funds to invest and realise good returns, Ekow Afedzie, Managing Director of the exchange, has said. Read also Ghana. Minister for Employment initiates mass pension enrolment programme Addressing industry players during a workshop under the theme “Maximising Investment Returns Using the Ghana Stock Exchange”, Mr. Afedzi said “though pension fund investments in fixed-income securities continue to increase, the same cannot be said of...

July 26, 2021
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26Jul

UK. Triple lock is far from the biggest pension issue on government’s plate

One of the realisations of reaching an age when you are beginning to plan the details of what to do when you finally stop work is how much those preparations are affected by decisions made by others, over which you have limited control. Chief among them is the issue of money. The income you retire on is a key determinant in what happens next: how comfortable your life will be and what compromises you need to make to get through...

July 26, 2021
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26Jul

Coronavirus exposes cracks in Hongkongers’ retirement planning as health care costs and weak savings dominate worries, EIU survey finds

The Covid-19 pandemic has left most working adults in Hongkong fearing for their financial position and readiness for retirement, according to a survey by the Economist Intelligence Unit commissioned by HSBC Life Insurance. Read also UK. Triple lock is far from the biggest pension issue on government’s plate Some 98 per cent of Hongkongers expressed worries about ageing in the city, with medical and health care costs, insufficient savings and income security dominating their top concerns. Less than a quarter of...

July 26, 2021
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26Jul

Will the online pensions revolution take off?

Senior citizens and coins in glass jars are some of the common themes you find when you look up ‘pensions’ on an image search engine. But in recent years the industry has been catching the attention of fintechs. In June, Plum announced it was expanding into retirement savings with the launch of a self-invested personal pension, two months after PensionBee floated on the London Stock Exchange. Both providers, and others such as Moneybox and Penfold, to name a few, enable savers...

July 26, 2021
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23Jul

Importance of ‘social’ pillar in ESG increases for pension funds despite dearth of index strategies, survey finds

The ‘S’ pillar of environmental, social and governance (ESG) is becoming increasingly important for pension funds, however, a dearth of core-social related indices remain, according to a survey conducted by CREATE Research in partnership with DWS. The survey, which interviewed 142 pension plans, found 66% expect to increase their allocations to ‘S’ pillar passive funds over the next three years despite just 14% currently using core social-related indices. In the subsequent report, titled Passive Investing 2021: Rise of the social pillar...

July 23, 2021
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23Jul

UK. Can CDCs solve the pension funding problem?

Defined-benefit (DB) pension schemes have been in decline for years and in most professions younger employees are offered defined-contribution (DC) schemes, which lack many of the former's benefits. But a new option aims to deliver the best of both types of pensions. This week, the government has issued a consultation on draft legislation for Collective Defined Contribution (CDC) Schemes, spurred on by Royal Mail (RMG) which had been lobbying for new legislation to accommodate CDCs since 2018. CDC pensions work by...

July 23, 2021
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23Jul

US. Illinois pensions among worst-funded in nation, report confirms

A new report confirms Illinois is among the worst in the country when it comes to funding its public pensions. The report was distributed by the Tax Foundation, an independent tax policy nonprofit. It indicates the state is only 39% funded for future pension obligations, the second-worst ratio in the country. “Illinois has had this problem for decades,” said Katherine Loughead, senior policy analyst with the Tax Foundation. “It's not getting any better. It is the major driver of Illinois’ chronic...

July 23, 2021
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