March 2020

23Mar

COVID-19 puts burden on gig economy workers. But can they deliver without social protection?

The coronavirus outbreak has caused life across the world to stutter to a halt and the barricades are now quickly going up. Borders are being shut down and people are increasingly seeking to isolate themselves as restricting social contact has been touted by the scientific community as the one measure that may work to decelerate the pace of the virus’ spread. However, in order for most of society to survive the isolation comfortably, we shall find ourselves increasingly dependent...

March 23, 2020
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20Mar

Australia. Social protection and viral recession

So far, Australia’s help for people displaced, self-isolating or ill has been far from generous. If the Australian Financial Review is right, the federal government is considering a new transitional income support payment for workers who lose their jobs because of the coronavirus crisis. Read also Australia. Veteran pensions set to increase The temporary payment, a central feature of a package that will be “more about survival than stimulus,” will be set at a higher rate than Newstart. Applicants won’t...

March 20, 2020
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18Mar

European regulator calls on insurers for business continuity amidst virus battle

With WHO warning that Europe is the new 'epicentre' of COVID-19 given its surging number of cases and related deaths, insurers there are likely to face progressively more difficult conditions navigating challenging market conditions and in maintaining operations, according to the European Insurance and Occupational Pensions Authority (EIOPA). Read also COVID19 checklist for pension schemes The independent European Union financial regulatory institution said it is monitoring the COVID-19 situation very closely in close communication and cooperation with the other European...

March 18, 2020
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18Mar

Antigua and Barbuda . COVID-19 puts thousands of pensioners at risk

A turn for the worse in the spread of the novel coronavirus (COVID-19) could be disastrous for thousands of pensioners who depend on the state to survive. “That timeliness of the benefit payment is what will determine the quality of life for an elderly person that is perhaps afflicted by a COVID-19 infection,” said the Executive Director of the Antigua & Barbuda Social Security Board (ABSSB), David Matthias. According to Matthias, 11,288 people over the age of 60 are...

March 18, 2020
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17Mar

France. Macron Suspended Pension Reform and Delayed Second Round of Elections

France will be quarantined by noon on Tuesday, French President Emmanuel Macron said in a statement to the nation broadcast by the Elysee Palace. All residents are ordered to stay home and will only be able to leave their homes for substantial reasons. People's movement will be very restricted, Macron said. "We are at war," the French president repeatedly said. Macron announced a number of measures that put France in a martial law to combat the virus. Here are...

March 17, 2020
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17Mar

COVID19 checklist for pension schemes

As governments and central banks across the world introduce extraordinary measures to limit the damage of this pandemic to both health and the global economy, The Pensions Regulator has urged trustees to have appropriate contingency plans in place to mitigate risks that could have significant consequences for their schemes and members. As such, Buck has launched a checklist aiming to help trustees and employers understand these risks, including actions that can be taken to mitigate them. The checklist...

March 17, 2020
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16Mar

Coronavirus: Stocks plunge despite global central bank action

Global stock markets have sunk despite central banks around the world announcing a co-ordinated effort to ease the effects of the coronavirus. London's FTSE 100 index has fallen more than 6%, and other major European markets have seen similar falls. Read also Coronavirus: FTSE 100, Dow, S&P 500 in worst day since 1987 On Sunday, the US Federal Reserve cut interest rates to almost zero and launched a $700bn stimulus programme. Read also COVID19 checklist for pension schemes It was part of co-ordinated action announced alongside...

March 16, 2020
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13Mar

Feverish Stock Price Reactions to COVID-19

By Stefano Ramelli, Alexander F. Wagner This paper studies how markets adjust to the sudden and rapid emergence of previously neglected risks. It does so by analyzing the stock price effects of the 2019 novel Coronavirus (COVID-19) outbreak. Over the first two months of 2020, the health care industry did relatively well in China, the US, and several other countries. Transportation and Energy plummeted everywhere. Within industries, US firms reliant on Chinese inputs and those with a strong export...

March 13, 2020
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12Mar

Dutch pension funds stick to rebalancing policy

Dutch pension funds and their asset managers are sticking to their rebalancing policies within their strategic asset allocations, despite market volatility and falling interest rates. Many schemes will buy additional shares if equity markets remain at the current low level, several asset managers and pension providers have said. However, pension providers are keeping their cards close to their chest as they try to keep other market players in the dark about their intentions. “Making statements could unnecessarily inform the...

March 12, 2020
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09Mar

Asset owners, managers turn to technology to combat COVID-19

Asset owners and their money managers are adapting to seeing less of each other when it comes to the day-to-day business of managing institutional portfolios. The spread of COVID-19 across the globe and the potential threat it represents to human health and disruption to basic business practices in the U.S. have led to significantly curtailed travel and heavier reliance on remote meeting technology by both investors and managers. "Everyone in the North American investment management industry is watching everything going on...

March 9, 2020
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