June 2022
13Jun

UK. FCA: Technology is both a risk and an opportunity

The Financial Conduct Authority’s chief data, information and intelligence officer Jessica Rusu has said technology can be “a force for good” but comes with many risks. Speaking at the Money 2020 Amsterdam event last week (June 8), Rusu explained that the increase in firms suffering from cyber-attacks demonstrates the risks that arise through innovation. “Looking through the lens of a regulator, having spent many years in big tech, fintech and traditional banking roles – I see that innovation and the role...

June 13, 2022
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13Jun

Nigeria. Micro Pension Plan as Buffer Against Old Age Poverty

The World Bank report of 2021 entitled, “Long Shadow of informality, Challenges and Policies,” estimated that over 80.4 percent of Nigeria’s labour force is in the informal sector. Persons involved in the sector do not have access to any formal pension protection or coverage for old age. The result is old age poverty, especially with people living longer due to improved medical care. To address the situation, the National Pension Commission (PenCom) introduced the Micro Pension Plan (MPP), a...

June 13, 2022
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10Jun

Aging People, Aging Places: Experiences, Opportunities, and Challenges of Growing Older in Canada

By Maxwell Hartt, Samantha Biglieri, Mark W. Rosenberg & Sarah E. Nelson How well do the places where we live support the wellbeing of older adults? The Canadian population is growing older and is reshaping the nation’s economic, social and cultural future. However, the built and social environments of many communities, neighbourhoods and cities have not been designed to help Canadians age well. Bringing together academic research, practitioner reflections and personal narratives from older adults across Canada, this cutting-edge text...

June 10, 2022
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10Jun

The Missing Middle. How Tax Incentives for Retirement Savings Leave Middle-Class Families Behind

By Tyler Bond and & Doonan Saving for retirement is one of the biggest financial challenges most working Americans will face. While the vast majority will participate in Social Security, most will have less than half of their income replaced by Social Security in retirement. Therefore, many workers also will need to save for retirement through other plans, such as an employer-provided defined benefit pension plan or 401(k) plan, or on their own through an Individual Retirement Account (IRA). Congress...

June 10, 2022
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10Jun

The Gender Pensions Gap Report 2022 … and how to close it

By Joanne Segars OBE & Samantha Gould  Lower incomes throughout a woman’s working life will invariably impact their pension savings, creating an obvious pension gap. Furthermore, women who take time away from work to have children or for other caring responsibilities contribute to the widening gulf that we see between men and women’s pension wealth. Three million women are effectively “locked out” of workplace pension saving because they do not meet the £10,000 auto enrolment eligibility criteria. We are on a mission...

June 10, 2022
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10Jun

U.S. prohibits investors from buying Russian debt, stocks

U.S. investors are prohibited from buying both new and existing debt and equity securities issued by an entity in the Russian Federation, according to new Treasury Department guidance. The guidance released Monday clarifies that executive orders signed this year by President Joe Biden encompass bans on Americans purchasing all Russian debt and Russian company shares. U.S. investors are still allowed to hold Russian securities they already hold and purchasing shares in a U.S. fund that contains Russian debt or equity securities...

June 10, 2022
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10Jun

UK. BMW disputes inclusion on Make My Money Matter net zero target list

BMW has contested its inclusion on a list of the UK’s 20 largest pension schemes to have allegedly not set net zero targets. The roster, compiled by Make My Money Matter, covers schemes with more than £200bn of assets under management, the campaign said. “Investments this size potentially enable 24mn tonnes of carbon to enter our atmosphere every year,” it claimed. The campaign said that it has been contacting the schemes for a year. They are a mix of corporate and...

June 10, 2022
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10Jun

Five metrics to help investors point their investments toward impact

Do you come from the financial sector? Do you have a genuine interest in impact? Did your firm put you in charge of a small fund and ask you to explore impact investing, hoping you would learn and figure things out along the way? If you feel confident in your ability to make good financial decisions – but wish you had had a chance to develop an instinct for impact honed by years of interaction with impact organizations –...

June 10, 2022
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10Jun

US. Are Retirement Savings Tax Incentives Leaving the Middle Class Behind?

A new report by the National Institute on Retirement Security highlights the insufficiencies of current tax incentives in ensuring retirement security for the middle class. It includes marginal tax rates, retirement plan participation and income distribution on retirement savings levels as culpable factors. The report, “The Missing Middle: How Tax Incentives for Retirement Savings Leave Middle Class Families Behind,” also offers potential solutions that could enhance retirement security for middle-class families. Saving for retirement is one of the biggest financial challenges...

June 10, 2022
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09Jun

Investment Choice in Collectivised Pensions

By John Armstrong & Cristin Buescu Investment choice is a central theme of UK pension policy. This paper shows how a collective pension fund can be managed in a manner that allows individuals to choose how their pension is invested and their schedule of pension payments. The potential benefit to investors of such a fund is quantified on the assumption that they choose to invest optimally. For our indicative choice of individual we find that they would need to invest...

June 9, 2022
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