September 2021
14Sep

German chancellor candidates clash over future of pension system

Chancellor candidates have argued over the future of the German pension system, offering opposite views to the public in the second televised debate which took place yesterday, as the general election on 26 September approaches. Olaf Scholz, chancellor candidate for the Social Democratic Party (SPD), now leading in the polls, said his party would “guarantee that the retirement age will not increase and that the level of pension remains stable,” also with an eye to the younger generation. Read also Germany....

September 14, 2021
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14Sep

US. Retiring Boomers Could Drive An Inflation Shift

Inflation tends to top the list of economic risks that investors obsess most about. After all, runaway inflation has devastated some economies over the centuries. Corralling inflation and keeping expectations well-anchored have been key mandates for most central banks for decades. However, inflation expectations are not uniform across age groups. Surveys from the New York Federal Reserve highlight the disparity. The over 60 crowd expects inflation to hit a staggering 5% three years from now, while those under 40 think...

September 14, 2021
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13Sep

Germany. Pensioners can expect significantly higher pensions

Pensioners in Germany can expect a significant increase in their pay next year, according to the pension insurance fund. "I assume that the missed increase will be made up for to a certain extent next year and that pensioners will get a decent plus in 2022," Gundula Roßbach, President of the German Pension Insurance Association, told the newspapers of the Funke Media Group."How much more it will be, we won't know until next spring, because we have to look...

September 13, 2021
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August 2021
31Aug

Does the U.S. have a retirement crisis?

By Alicia H. Munnell At the end of a recent conference, the perennial question arose — once again — as to whether the United States faces a retirement crisis. Read also U.S. corporate pension funding rises in August – 2 reports I’ve never been wedded to the word “crisis,” but the Center’s National Retirement Risk Index (NRRI) suggests that about half of today’s working-age households are at risk of not being able to maintain their standard of living in retirement. While the...

August 31, 2021
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18Aug

UK. Pressure increases on Rishi Sunak to suspend triple lock on pensions

Rishi Sunak has come under further pressure to suspend the state pension triple lock after wage figures showed that the chancellor is on course to pay pensioners a rise of more than 8% next year. Sunak is understood to be considering telling Britain’s 12 million state pension claimants that the pandemic has artificially inflated the official wages figures and a new formula is needed to calculate the rise in the basic state pension for next year. Read also UK. I Don’t...

August 18, 2021
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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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05Aug

1 in 3 Singaporeans are worried about retirement inadequacy and 45% have yet to start planning: Endowus Singapore Retirement Report 2021

39% of Singaporeans are worried about retirement inadequacy, with women being at higher risk of retirement inadequacy than men 72% of Singaporeans desire higher returns for their investments, but despite that, only 25% are currently investing their CPF 31% of Singaporeans have indicated that they would like assistance in the form of tools to help them understand the impact of financial decisions around CPF SINGAPORE, Aug. 4, 2021 /PRNewswire/ -- The Endowus Singapore Retirement Report reveals that retirement inadequacy...

August 5, 2021
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July 2021
29Jul

UK. We need more retirement products to help DC savers

In its first nine years, auto-enrolment’s incredible success has been built on how much people have been able to save into their pension pots. Now the time has come to give serious consideration to how this new generation of savers will turn these savings into a reliable pension income. This is because in the next decade people reliant on defined contribution workplace pensions to supplement the state pension will start to retire in large numbers. What this means is that policymakers and...

July 29, 2021
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27Jul

Average German pension has risen 34 percent in 10 years

Average pensions in Germany have increased significantly over the past 10 years, RND reports, citing figures from the Deutsche Rentenversicherung. Accordingly, 10 years ago, newly-retired people who had contributed to social security for at least 35 years received an average of 962 euros per month. Most recently in 2020, someone entering retirement who had contributed for the same length of time received an average of 1.290 euros per month - 34 percent more than in 2010. In the western federal...

July 27, 2021
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26Jul

Coronavirus exposes cracks in Hongkongers’ retirement planning as health care costs and weak savings dominate worries, EIU survey finds

The Covid-19 pandemic has left most working adults in Hongkong fearing for their financial position and readiness for retirement, according to a survey by the Economist Intelligence Unit commissioned by HSBC Life Insurance. Read also UK. Triple lock is far from the biggest pension issue on government’s plate Some 98 per cent of Hongkongers expressed worries about ageing in the city, with medical and health care costs, insufficient savings and income security dominating their top concerns. Less than a quarter of...

July 26, 2021
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