May 2022

Kenya. Cash-strapped KBC fails to remit Sh984m in pension

Cash-strapped Kenya Broadcasting Corporation (KBC) has failed to remit employee retirement benefits amounting to Sh984.3 million, underlining the deepening cash flow crisis facing the State broadcaster and signaling economic pain for its employees. The institution is struggling to honour the dues, according to a report for the year ended June 2020 submitted to lawmakers by Auditor General Nancy Gathungu. “Management attributed the delay to remit the deduction to its inability to settle its obligations as and when they fall due,” reads...

Millennials Will Make Impact Investing Mainstream

Impact investing will likely become a mainstream investment strategy as millennials attain more wealth, according to a Fidelity Charitable study that found that 61% of millennial investors already practice impact investing, compared with only one-third of all investors. “We find that investors are increasingly interested in aligning their investments with their broader values and desire for social change,” Scott Nance, vice president of impact investing at Fidelity Charitable, said in a statement. “And the trend toward values-based investing will only...

Colombia. El debate de subir la edad de pensión o hacer una reforma al sistema

Colombia. El debate de subir la edad de pensión o hacer una reforma al sistema

En Latinoamérica hay sistemas pensionales de todo tipo, desde públicos hasta privados, y ninguno se salvó de mostrar dificultades El sistema pensional tomó una relevancia especial durante estas elecciones debido a las propuestas llamativas que algunos candidatos han hecho. En Latinoamérica se encuentran sistemas de todo tipo y todos han mostrado dificultades. Leer también Panamá. Faltante de IVM llegaría a 8 mil millones de dólares en 2030 Argentina y Brasil, por ejemplo, tienen uno de ahorro colectivo, cuyos fondos son administrados por...

US Department of Labor at Odds with Fidelity’s Bitcoin Pension Plan

A senior agency official said he raised concerns about such plans given the volatility and risks that cryptocurrencies pose. The pension fund management company argues that this step only seeks to expand the supply of digital assets available and constantly growing. The Department of Labor takes issue with Fidelity Investments’ pension plan, which allows investors to hold Bitcoin in their 401(k) accounts. Officials consider these kinds of offers to pose a huge security risk to American retirees. "We have grave concerns with...

Nigeria. Pension funds now N13.88tn, 61% invested in bonds, T-bills – Report

Total assets under the Contributory Pension Scheme rose by N460bn in three months to N13.88tn in March, according to figures from the National Pension Commission released on Friday. This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 31 March 2022; Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds (Including unremitted contributions @CBN & legacy funds).’ The funds, which ended December 31, 2021, at N13.42tn, rose to...

Divorcees often don’t understand pension implications – survey

UK. Divorcees often don’t understand pension implications – survey

No-fault divorce in England and Wales may lead to increase in separations – and financial problems One in six divorced people said they did not realise their pension could be affected by splitting up, a survey has found. More than a third said they made no claim on their former partner’s pension, according to the survey of more than 1,000 divorced people. The research, carried out for Aviva, found 8% of divorcees do not have their own pension savings – and had...

Aging beyond retirement: How Canadians can afford to grow old

That’s the number of siblings Dr. Bonnie-Jeanne MacDonald’s mother had growing up. An astounding number, even at a time when families were known for having large broods. While it might seem overwhelming, to say the least, there certainly were benefits to having so many kids, says Dr. MacDonald, the director of financial security research for the National Institute on Aging (NIA). “My mother came from a family of 14 kids, and suddenly you have much fewer people to do that care...

56% de los mexicanos no tiene un trabajo formal; vive sin seguro social o ahorro para el retiro

56% de los mexicanos no tiene un trabajo formal; vive sin seguro social o ahorro para el retiro

Pamela González, abogada especializada en la implementación de la Reforma Laboral, dijo que, de acuerdo con el Inegi, la informalidad en 2021 ascendió casi a un 57% de la población Este 1 de mayo, Día Internacional de los Trabajadores, se hace un homenaje a los mártires de Chicago como una forma de reivindicar los derechos de los trabajadores. En entrevista con el Informativo Fin de Semana de El Heraldo Media Group, Pamela González, abogada especializada en la implementación de la Reforma...

Cientos marchan en Puerto Rico por la salud, educación y pensiones dignas

Cientos marchan en Puerto Rico por la salud, educación y pensiones dignas

Cientos de miembros de varios sindicatos en Puerto Rico marcharon este domingo hacia La Fortaleza, sede del Ejecutivo, reclamando en el Día Internacional del Trabajador, por el derecho a la salud, la educación y las pensiones dignas. Algunos de los grupos que participaron en la marcha fueron la Unión de Trabajadores de la Industria Eléctrica y Riego (Utier), la Federación Central de Trabajadores, la Unión General de Trabajadores, la Federación de Maestros y la Asociación Puertorriqueña de Profesores Universitarios. Leer más...

April 2022

Europe dominates green finance index, but U.S. cities catching up

Western European cities, led by London, continue to dominate when it comes to green finance, but U.S. cities are starting to catch up, according to the Global Green Finance index published Thursday by London consultancy Z/Yen Group. Compared with the first one published in March 2018, the ninth edition of the semiannual index found more correlation between U.S. cities' standing as financial centers and their green credentials, said Mike Wardle, a director and head of indexes for Z/Yen, in an...