October 2019

29Oct

Chinese government uses facial recognition app to pay out pensions

A facial recognition app, Laolai.com, is being used by China's Ministry of Human Resources and Social Security, to ascertain pension payouts and avoid fraud. Read also US senator plans Bill to block Federal Pensions investing in China The Laolai mobile app is designed to enable elderly citizens to prove their identity in order to receive social security benefits. Some 250 million retirees now use the app, which was developed into an online platform for a wide range of services for...

October 29, 2019
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February 2019

Country Report Spain 2017

By European Comission This report assesses Spain’s economy in light of the European Commission’s Annual Growth Survey published on 16 November 2016. In the survey, the Commission calls on EU Member States to redouble their efforts on the three elements of the virtuous triangle of economic policy — boosting investment, pursuing structural reforms and ensuring responsible fiscal policies. In so doing, Member States should focus on enhancing social fairness in order to deliver more inclusive growth. The Commission also published...

February 28, 2019
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January 2019

07Jan

Irish pension funds told to ‘diversify and de-risk over the coming year’

Irish pensions fund trustees have been told to “diversify and de-risk over the coming year” amid the huge losses of global stock markets and falling bond yields for some European markets.Pensions firm Aon said the fallout of market turmoil has led to a fall of 5.2% in “the traditional Irish pension managed funds” last month.“Global equity markets fell over the month as weak economic data from China and Europe fanned concerns of a global economic slowdown, leaving investors...

January 7, 2019
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December 2018

07Dec

UK. Devilish details of where pension transfers went wrong

The failure of senior management at advice firms to identify the risks associated with defined benefit transfers, was named as one of the reasons behind widespread problems in the field. The Financial Conduct Authority published the findings of its recent investigation of pension transfer advice today (December 6), saying less than 50 per cent of the advice it had reviewed was deemed suitable. The regulator had looked at 18 firms, which had given advice to 48,248 clients on their defined benefit...

December 7, 2018
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October 2018

19Oct

US. Loans could drain U.S. retirement plans by $2.5 trillion

CHICAGO (Reuters) - Americans could dig a $2.5 trillion hole in the country’s retirement system as they fail to pay back loans taken from workplace retirement plans over the next 10 years, according to a new study from Deloitte Consulting. The problem is called “leakage” - borrowing from a 401(k) plan without repaying the money or paying it back so slowly that it disrupts growth. About 40 percent of people borrow from workplace plans. Most repay their loans within five years...

October 19, 2018
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August 2018

Broadening Britain’s savings base by reforming pensions tax relief: CPS

EMBARGOED 0001 MONDAY 27 AUGUST 2018 GOVERNMENT MUST REFORM PENSIONS TAX RELIEF TO BROADEN BRITAIN’S SAVINGS BASE FIGURES SHOW UK HOUSEHOLD SAVINGS RATIO HAS HIT RECORD LOW Britain’s household savings ratio has plummeted to 4.9%, the lowest since records began in 1963. With savings rates falling and the top 1% of earners receiving double the pensions tax relief of half the working population, the time has come to reform the system. The complexity, cost, and inflexibility of the pensions system, combined with widespread...

August 27, 2018
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July 2018

27Jul

Europe is aging—it’s high time to invest in youth

The old world is getting older. The populations of European Union (EU) countries are aging and shrinking. Life expectancy at birth in the EU has increased by more than two years per decade since the 1960s to 78 and 84 years in 2016 for men and women respectively. It is projected to further rise by 8 and 7 years for men and women respectively by 2070, pushing the share of the population over 65 to 30 percent by 2070...

July 27, 2018
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02Jul

UK. Women face ‘glaring’ gender pension gap

Young women aged in their late 20s or early 30s faced an 11% smaller pension pot than men by the time they retired, Fidelity International said. It said women faced a penalty because of motherhood and caring commitments. But it also accepted that the industry was partly at fault for failing to engage women. "We have to recognise where we have failed as an industry," Fidelity International's investment director, Maike Currie, told the BBC News website. She said jargon and a...

July 2, 2018
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June 2018

08Jun

Millennials and retirement: How bad is it?

Concern about the financial health of America’s younger generations is growing—especially millennials, a demographic boom that came of age in an environment of unstable work and record levels of student debt. Experts worry that millennials are falling so far behind previous generations that their retirement may be at risk. My research suggests that those concerns are real, and millennials really are building wealth more slowly than the other working generations. But they are not insurmountable—as long as millennials are willing...

June 8, 2018
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May 2018

Terms and Conditions and Privacy Policy

Please see both our terms and conditions and privacy information, below: Terms and Conditions Pension Policy International, Inc. (“PPI”) and the company or individual (“Customer”) agree that PPI shall make available to Customer the services identified in the Order (“Services”), subject to this Subscription Agreement (“Agreement”). Services may include, but are not limited to, online full access to the Resource Library (“Content”). Licenses 1.1. PPI grants to Customer a non-exclusive, non-transferable license (“License”) subject to the limitations contained in this Agreement and...

May 18, 2018
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