What does the future of aging in America look like? For answers, every year we ask some of our newest Influencers in Aging to offer their views at the American Society on Aging’s Aging in America conference. The pandemic turned this year’s in-person panel into a June 11 webinar, and the Influencers’ forecasts — as well as their laments — couldn’t have been timelier. “I want to acknowledge that we as a country have had a few rough months...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its 2019 Annual Report, setting out its activities and achievements of the past year. Throughout the course of the year, EIOPA continued to play an essential role in the supervision of insurance and pensions in Europe, working closely with national supervisory authorities, European institutions and other stakeholders to fulfil its strategic objectives set out in its annual work programme. EIOPA significantly strengthened its work on conduct of business supervision. EIOPA...
Calpers is to move deeper into private equity and private debt by adopting a bold leverage strategy that the $395bn Californian public sector pension fund believes will help it achieve its ambitious 7 per cent rate of return. In a presentation to the Calpers board, Ben Meng, chief investment officer, said the giant fund would take on additional leverage via borrowings and financial instruments such as equity futures. Leverage could be as high as 20 per cent of the...
IBM has started an initiative to create a distributed ledger technology (DLT) based framework that will form the back bone of digital pension program for Bangladeshi primary school teachers. The PoC (Proof-of-Concept) consists of a permissioned network of teachers and other partakers backed by the IBM Blockchain Platform, with pension data loaded on the blockchain to guarantee unalterable data keeping and offer safety guarantees to teachers partaking in GBB (Grameen Bank of Bangladesh) government supervising IT policy in the...
By Research and Markets In 2019, UK pension funds received total contributions of £241 billion, representing a 10% rise over the level of 2018. In 2019, contributions to workplace pensions represented 70% of total contributions and this is expected to rise to 71% in 2020. In 2019, the publisher estimates that 2.4 million new pension products were sold to members of the public. In 2019, just over 21 million employees in the UK had a workplace pension with most of...
By Charles Sutcliffe COVID-19 and the lockdowns have had a big global economic effect, as well as increasing mortality. We examine the effects of COVID-19 and the resulting relaxations of pension regulations on pension schemes. Those who transfer their pension or withdraw cash from their pension pot while asset prices are depressed by COVID-19 are losers; as are members of defined benefit schemes with a deficit whose employer fails due to COVID-19. The increased mortality from covid-19 will have...
By Gizelle Willows This study's primary aim is to determine whether members of a South African tertiary institution's retirement fund are en route to have sufficient retirement savings. Secondly, the results are analysed between different social factors namely: age, gender, race, education level, marital status, and cost of employment. Survey data and information received directly from the retirement fund were used as inputs in a customised model. This method was unique to this study, that is, it was able...
The world’s worst-performing stock market this year is at risk of an even steeper drop from a proposal to let Colombians tap pension savings during the coronavirus crisis. The government has held talks with private pension funds regarding an “important proposal” that would allow workers to draw down their retirement accounts, Finance Minister Alberto Carrasquilla told lawmakers Wednesday. The government has made “advances” on the issue, though hasn’t reached a decision, Carrasquilla said. The plan would likely need congressional...
Pension funds have raised holdings of government debt by Sh92 billion since the beginning of the year, turning to the securities for assured yields at a time equities and property have taken a beating from the pandemic. The Central Bank of Kenya (CBK) data shows the funds now account for 29.46 per cent of government domestic debt, which at the end of May stood at Sh3.155 trillion. This translates to holdings worth Sh929.7 billion for the pension funds. At...
The Covid-19 pandemic has crippled economies all around the world. From healthcare disasters to black swan financial events, it has been quite some time since the future has seemed so bleak. According to a story originally published by CNBC, this widespread financial strife has caused more than one in four Americans to raid their retirement savings. Read also US. The Reason COVID-19 Might Destroy 22% of Workers’ Retirement Although withdrawing from retirement plans during a financial emergency may seem like...
