August 2021
16Aug

3 Ugly Truths About Retirement in Canada

Saving for retirement has never been easy. In the days when private and public sector employers offered generous defined benefit (DB) pensions, that didn’t matter as much. But today, with private sector DB pensions all but extinct, you really have to save if you want to retire comfortably. If you’re a government worker with a very generous pension plan, then perhaps that doesn’t apply to you. But if you’re like most Canadians, you’re really going to need some savings to...

August 16, 2021
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16Aug

US. 3 Unexpected Sources of Retirement Income

When we think of retirement, most of us think of accumulating a large sum of money and then spending it down gradually. One of the best insurance policies to prevent spending all of your money is to have numerous sources of income in retirement. As you'll see, even small amounts of retirement income can go an incredibly long way in making sure you have enough to last you the rest of your life. Here, we'll look at three unexpected sources...

August 16, 2021
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13Aug

Chile. Aplican la multa más alta de la que existan registros a la AFP Modelo por una falta reiterada

La Superintendencia de Pensiones (SP) aplicó una multa histórica a la AFP Modelo. ¿La razón?: la administradora no cumplió los plazos de respuesta de al menos de 1.164 oficios, con atrasos superiores a los 30 días. Por tanto, fue multada mediante una resolución por el regulador con una suma de $300 millones aproximadamente (10,080 UF). Desde AFP Modelo confirmaron a La Radio que fueron notificados anoche de esta situación. En paralelo, de acuerdo a Diario Financiero, en sus descargos la administradora admitió que...

August 13, 2021
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13Aug

México. ¿Conviene sacar dinero del ahorro para el retiro?

En estos tiempos de pandemia y de alza de desempleo, hay un recurso al que los trabajadores pueden acudir y se trata del retiro parcial de las Afores, pero como todo, también tiene su costo. A julio de este año, 170 mil 573 trabajadores mexicanos presentaron ante su Administradora de Fondos para el Retiro (Afore) su solicitud por retiro de desempleo, lo que significó sacar de sus pensiones un monto de mil 886.6 millones de pesos, según datos de la...

August 13, 2021
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13Aug

Finland tops global pension rankings

Finland's pension system has ranked number one in the world in 2021 while the UK has fallen “short of the mark”, ranking 25th out of 33 countries included in analysis by Blacktower Financial Management. The analysis used key metrics to analyse pension systems around the world, including public spending, average retirement ages, average pension contributions and the percentage of the population who have participated in pension schemes. Finland was deemed to have the best pension system in the world, recording high...

August 13, 2021
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13Aug

US. Five Retirement Planning Pitfalls (And How To Avoid Them)

As a financial advisor, one of the most commonly asked questions I get is, “What can I do to improve my retirement picture?” One of the biggest benefits of investing in a 401(k) plan is the ability to grow your assets over time. A 35-year-old who contributes $19,000 annually over a 30-year period can have $1.34 million to retire on at age 65, assuming a 5% annual return. Now that might sound like a difficult amount to put aside each...

August 13, 2021
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13Aug

UK. Over Two Thirds of Pension Savers Find Info on Fees Complex and Difficult To Locate

New research from PensionBee reveals that the majority of pension savers (67%) find information on fees complex and difficult to locate. The online pension provider found that almost half (47%) of respondents do not know how much they are paying in fees, with 24% reporting that they don’t know how to find this information. Of those that do know how much they are paying in fees, 29% report that they had difficulty in finding or understanding this information. These findings support...

August 13, 2021
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12Aug

Climate Change 2021 The Physical Science Basis

By IPCC This Summary for Policymakers (SPM) presents key findings of the Working Group I (WGI) contribution to the IPCC’s Sixth Assessment Report (AR6)1 on the physical science basis of climate change. The report builds upon the 2013 Working Group I contribution to the IPCC’s Fifth Assessment Report (AR5) and the 2018–2019 IPCC Special Reports2 of the AR6 cycle and incorporates subsequent new evidence from climate science3 . This SPM provides a high-level summary of the understanding of the current state of...

August 12, 2021
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12Aug

Using Fresh Starts to Nudge Increased Retirement Savings

By John Beshears, Hengchen Dai, Katherine L. Milkman & Shlomo benartzi We conducted a field experiment to study the effect of framing future moments in time as new beginnings (or “fresh starts”). University employees (N=6,082) received mailings with an opportunity to choose between increasing their contributions to a savings plan immediately or at a specified future time point. Framing the future time point in relation to a fresh start date (e.g., the recipient’s birthday, the first day of spring) increased...

August 12, 2021
Articles, Pension design, Savings,
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12Aug

The Origins of ESG in Pensions: Strategies and Outcomes

By Stephanie Lachance, Judith C. Stroehle As intergenerational stewards of capital, pension funds can have many good reasons to embrace environmental, social, and governance (ESG) issues in their investment practices. Yet the particular structure of pension funds creates both advantages and disadvantages for the integration of ESG. This paper reviews the historical origins, regulatory mandates, and fund structures of pensions, to tease out exactly which of these characteristics enable and which of them impede the inclusion of ESG at pension...

August 12, 2021
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