September 2018

12Sep

China. Asset management firms see potential in pension funds

One month after the central regulator gave the green light to pension target securities investment funds, asset management companies have sped up their growth in the market. Two pension target securities investment fund products from Shanghai-based Zhong Ou Asset Management and Beijing-based Manulife Teda Fund Management started to be sold to the public on Monday. Both products will adopt the fund of funds strategy, with a portfolio that consists of multiple underlying mutual funds and each of those underlying funds...

September 12, 2018
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11Sep

Russia. Putin Allies Suffer Election Setbacks Amid Pensions Protests

Russian President Vladimir Putin got a taste of public anger at his plans to increase the pension age as voters turned on the ruling party in regional elections and hundreds were arrested at protests against the reform. United Russia’s candidates for governor in four regions, mostly in the country’s east, were forced into runoffs after failing to win majorities in elections Sunday. They trailed Communist and nationalist opponents in two of the races, gaining as little as 32 percent support...

September 11, 2018
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11Sep

US. Another Hit to Retirement Plan Investors: Financial Transaction Tax

An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern Markets Initiative is pushing back on a tax provision in the bill. The Inclusive Prosperity Act of 2017 has been introduced in the Senate and includes a financial transaction tax (FTT). According to Modern Markets Initiative (MMI), the FTT would be applied to every stock traded, including a 0.5% rate on equity, a 0.1% rate on debt and a...

September 11, 2018
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10Sep

150 held over pension protests in Russia

Thousands of supporters of jailed opposition leader Alexei Navalny have protested across Russia against planned increases to the pension age, with a rights group saying at least 153 of them had been detained by the police. The protests were a challenge to the authorities who were hoping for a high turnout at regional elections, also being held on Sunday, despite widespread anger over the pension move. "The authorities are not listening to people and that means it's time to take to...

September 10, 2018
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10Sep

Welfare boost for 4.8 million Australians

Single pensioners will soon receive an extra $8.70 a fortnight and couples will pocket an additional $13.20 following a twice-yearly change to indexation rates. Unemployed Australians will take home about $2 more each week, while parenting payments will also rise by about $3 per week. Rent assistance rates will also increase from September 20, as will a range of income and asset test limits for various payments including the age pension. Welfare rates are raised every six months to help people handle...

September 10, 2018
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10Sep

Zimbabwe mulls pension reforms

Zimbabwe is proposing pension reforms as it seeks to come up with an efficient pension system, according to a draft document compiled by the Insurance and Pension Commission. This comes amid challenges besetting the industry, including low confidence levels, poor viability of pension funds, low coverage and poor corporate governance. “In view of the above challenges, the Insurance and Pensions Commission has taken an initiative to propose holistic reforms for the country’s pension sector in order to come up with an...

September 10, 2018
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10Sep

Ireland. Report warns of explosion in public debt caused by ageing population

Longer working lives, minimising increases in public spending and reforms to boost productivity will be necessary over the coming years if an explosion in public debt, caused by an ageing population, is to be avoided, a new report from the Department of Finance has found. The report, released by the department on Sunday, projects huge increases in age-related costs unless significant policy changes are made by future governments. Rising life expectancy, greater numbers of older people and a consequent fall in...

September 10, 2018
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08Sep

Retirement Savings Policy: Past, Present, and Future

By Michael P. Barry "Mike brings to this work his comprehensive experience and consummate technical talent in a beautifully readable book. A treasure." --Frank Cummings, Former Adjunct Lecturer in Law at UVA Law School, Columbia Law School, NYU Law School, and ALI-ABA Retirement Savings Policy reviews the basic policies that govern retirement savings plans, and their real world application, focusing on the key issues of finance, taxation, fiduciary conduct, and employee choice. The discussion is framed around the three fundamental challenges confronting...

September 8, 2018
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08Sep

2018 Retirement preparedness survey: A Generational Challenge

By Prudential The U.S. retirement landscape has changed dramatically over the past few decades. Fewer workers today are eligible to receive a pension and instead must save for their own retirements, typically through workplace savings plans. Replacement rates for Social Security are declining due to the increase in the “full retirement age.”1 Income is becoming less predictable, thanks in part to new employment models. Health care costs are increasing, and so is longevity—which means workers today don’t just have more...

September 8, 2018
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08Sep

The future of regulation: Principles for regulating emerging technologies

By William D. Eggers, Mike Turley , Pankaj Kishnani Sweeping technological advancements are creating a sea change in today’s regulatory environment, posing significant challenges for regulators who strive to maintain a balance between fostering innovation, protecting consumers, and addressing the potential unintended consequences of disruption. Emerging technologies such as artificial intelligence (AI), machine learning, big data analytics, distributed ledger technology, and the Internet of Things (IoT) are creating new ways for consumers to interact—and disrupting traditional business models. It’s an era...

September 8, 2018
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