June 2021
24Jun

3 hurdles to sustainable investing — and how to overcome them

Can sustainable investing save the world?Jason Jay, director of the MIT Sloan Sustainability Initiative, thinks so — with three caveats. In a March 2021 talk, part of the MIT Impact Investing Initiative spring speaker series, Jay laid out the case for sustainable investing and outlined three major challenges. Sustainable investing is at a tipping point, said the MIT Sloan senior lecturer. “What’s been happening over the last 20 years — and really accelerating over the last five years — is that...

June 24, 2021
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23Jun

East Africa’s countries race to form inclusive, affordable pension schemes for informal sector

East African Community partner states are in the process of creating micro-pension schemes for employees in the informal sector to address the low pension coverage in the region, estimated at less than 10 percent. Read also Bright Africa 2020 Pension Industry. Modernising pension policies to future-proof long-term savings A new pension sector survey by global investment firm RisCura shows that Rwanda, Uganda and Kenya are among African countries racing to create affordable and all-inclusive old-age saving schemes for the informal sector...

June 23, 2021
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23Jun

China. Rising pension levels to ensure senior citizens have no tension

Seventeen provincial-level regions in China, such as Beijing, Tianjin and Shanghai, and Shaanxi, Henan, Hebei and Liaoning provinces have issued notices raising local pensions. Other regions are expected to follow suit. This rise in pensions for the 17th consecutive year is in accordance with the spirit of this year's Government Work Report and a notice issued by the Ministry of Human Resources and Social Security and the Ministry of Finance in April on adjusting basic pensions for retirees in 2021...

June 23, 2021
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23Jun

Canada. New CPPIB Head Graham Says Inflation Will Stay Muted in Long Run

Strong demand, particularly from the U.S. consumer, may fuel higher inflation in the short term, but there is little risk of runaway price growth, according to the head of Canada’s $403 billion national pension fund. “It’s going to be really interesting over the next few months. We have a really high savings rate in the U.S., high savings rate in Canada, and really a lot of pent-up demand,” John Graham, chief executive officer of Canada Pension Plan Investment Board, said...

June 23, 2021
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23Jun

Ireland. Reducing pension age from 66 to 65 would cost €127m

Sinn Féin expects other parties and the public to judge them on “what they say they will do if they were in government in the south not what they actually do when they are in Government in the North,” Minister of State Damien English has said. Mr English made the claim during a Dáil debate on a Sinn Féin motion calling for calling for the Government to offer people the choice to retire at 65 if they wish. The pension age...

June 23, 2021
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23Jun

Australia. Changes to ‘super size’ retirement savings

For the average Australian worker, legislated rises in superannuation will mean an extra $85,000 in their super account at retirement. The Association of Superannuation Funds of Australia on Wednesday released a report on how the increases set to kick in from July 1 will "super-size" retirement balances. Super balances are also set for a whopper year of double-digit gains, despite COVID-19 wobbles. The rise in the superannuation guarantee rate to 10 per cent from next month represents an extra $19,000 in a...

June 23, 2021
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22Jun

World Bank : The costs and benefits of making pension funds a target for financial repression

Financial repression is not new topic, but the striking amount of new debt taken on by governments to support their economies in the wake of the COVID-19 crisis has made the issue ever more relevant. Financial repression occurs when governments channel funds to themselves that in a deregulated market environment would go elsewhere. It usually aims to provide cheaper loans to companies and governments, reducing their burden of repayments by lowering returns to savers. Policies involved can include capital...

June 22, 2021
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22Jun

UK Rules Out Ditching ‘Triple Lock’ Pledge on State Pension Increases

British newspapers have reported that the government was looking at suspending the promise to increase pensions by whichever is higher of consumer price inflation, average earnings growth, or 2.5%. They said it could help pay for the cost of the government’s COVID-19 response. “We are committed to the triple lock,” the spokesman said, when asked about the reports. Due partly to distortions from the coronavirus pandemic, annual wages in the three months to April grew by an annual 5.6% – creating...

June 22, 2021
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22Jun

South Africa. UDM President says PIC must be taken to court

UDM President, Bantu Holomisa has rallied behind the PSA in its cries for pensions to not be touched when it comes to the SAA and PIC ownership deal. On Monday, 21 June 2021, the United Democratic Movement (UDM) President, Bantu Holomisa backed an article from a local publication. The article alleged that the Public Servants Association (PSA) is concerned that its workers might lose their pensions, due to the involvement of the Public Investment Corporation (PIC) in South African Airways’...

June 22, 2021
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21Jun

UK. State pension: Warning as ‘low’ sum leaves millions at risk of ‘inadequate’ income

The State Pension is made available to individuals who have put forward a set number of National Insurance contributions throughout their lifetime. Many people will have worked for decades to ensure their state pension reaches the full sum as outlined by the Department for Work and Pensions (DWP). At present, the most someone can receive through the basic state pension is £137.60 per week. This increases slightly to a full sum of £179.60 per week for those on the new...

June 21, 2021
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