January 2020

06Jan

Critical week in France’s pension reform protests

The month-long stand-off between the government and France's striking transport workers has entered a critical week, with talks set to resume on Tuesday, and further national protests in store. The first Council of Ministers' meeting was taking place on Monday, as commuters braced for a difficult return to work after the Christmas break. The ongoing pension reform protests are certain to top the agenda, with strike calls launched on Monday by nurses and physiotherapists' unions. An Air France pilots...

January 6, 2020
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06Jan

US. Public Pension Funding Crisis: Why Should Today’s Workers And Retirees Pay The Price?

Here are some excerpts of interest from a May 26, 1965 Chicago Tribune story, “Police, Fire Pensions Tabled”: “Three important police and firemen’s pension bills appeared defeated today but efforts may be made to revive one which would consolidate 335 pension systems outside of Chicago. . . . “Robert Erickson, a spokesman for the Civic federation, Chicago taxpayers’ organization, was happy when two tax-increasing bills were tabled by their sponsors. “One would have required a property tax boost to...

January 6, 2020
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06Jan

UK. More than 10,000 retirees set to lose £3,500 a year in state pension

That's because the government is cutting the extra payments for "adult dependents", worth up to £70 a week. In total, 11,000 retirees are expected to lose a collective £33million, according to a Freedom of Information request by Steve Webb, policy director of insurer Royal London. The so-called "adult dependency increase" (ADI) is typically paid for a partner who is below state pension age but who is financially dependent on someone receiving the basic state pension. These extra payments closed...

January 6, 2020
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03Jan

Ghana. SSNIT To Pay ¢243m Pension In 2020

The Social Security and National Insurance Trust (SSNIT) has announced it will pay pensions in excess of GH¢ 243 million this yearp. The amount represents an indexation rate of 11℅ for the year under review. Chief Actuary of SSNIT, Stephen Yeboah, made this known at a press conference on Thursday, January 2, 2020, in Accra. Read also Africa’s Biggest Fund Manager Needs CEO for $150 Billion Assets According to him, the 2020 indexation rate was determined using the percentage change...

January 3, 2020
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02Jan

Mongolia to write off loans of all pensioners

The National Security Council of Mongolia led by the country's president has decided to write off the loans of all pensioners in the country. President Khaltmaa Battulga announced the decision on Tuesday night while extending New Year greetings to his people via media. "I am happy to announce that the National Security Council of Mongolia has decided to pay off the loans of all pensioners ... with the aim to help them get out of debt," he said. It...

January 2, 2020
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02Jan

Japan’s GPIF is right — short selling is downright irresponsible

When the Japanese Government Pension Investment Fund (GPIF) announced it was going to stop stock lending, the decision was met with a mixed response from commentators. Among them was a damning conclusion from the Financial Times’ Lex column, which suggested this was another example of Japan Inc “scoring an own goal”. I could not disagree more. The GPIF is one of very few major financial institutions not only to have thought through its own broader responsibilities but also to have put...

January 2, 2020
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02Jan

US. Estate Planning: What Does the SECURE Act Mean for You and Your Retirement?

The SECURE Act signed into law in December is the most important retirement legislation in over a decade. The overall goal of the SECURE Act was to make saving for retirement easier and more affordable. Read also Japan’s GPIF is right — short selling is downright irresponsible What’s New? One major change is that the age that individuals must start taking their minimum distributions from retirement accounts has been raised from 70 ½ to 72. This is important because it...

January 2, 2020
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