February 2021
23Feb

British Airways defers £450m of pension payments as Covid cuts flights

British Airways has struck a deal to delay £450m of pension deficit contributions as the company struggles through Covid travel restrictions that have left most of its planes grounded during the pandemic. The carrier’s owner, International Airlines Group (IAG), has also reached a final agreement over a £2bn loan that will give the company a larger financial cushion until Covid restrictions are eased. BA, which usually pays £37.5m a month into the New Airways Pension Scheme (NAPS), has struck a deal...

February 23, 2021
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23Feb

Jamaica. $81 Million To Support Social Protection Strategy Project

A sum of $81 million has been allocated in the 2021/22 Estimates of Expenditure, currently before the House of Representatives, towards the continuation of the Integrated Support to the Jamaica Social Protection Strategy project. The initiative is being implemented by the Ministry of Labour and Social Security, through funding from the Inter-American Development Bank (IDB). It aims to support, protect and promote the human capital accumulation of the Programme of Advancement through Health and Education (PATH) beneficiaries. It also seeks to strengthen...

February 23, 2021
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23Feb

US. 3 Retirement Myths, Debunked: Social Security, The Stock Market And Savings

Retirement should inspire thoughts of mixed drinks on the beach and long afternoons with the grandkids. But for many people, just mentioning the word spurs anxiety. Younger Americans are waiting too long to put money away, middle-aged workers rarely make up for lost time and people approaching retirement hope to hold onto their jobs long enough to save just a few dollars more. Most people know they should be doing more to save for retirement, yet too few of us are...

February 23, 2021
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23Feb

Forget bitcoin — fintech is the ‘real Covid-19 story,’ JPMorgan says

Bitcoin is an “economic side show” and fintech innovation is the story that will dominate financial services, according to JPMorgan. Analysts at the bank said that despite bitcoin’s monster rally, the cryptocurrency is still beset by a number of issues that may prevent it from becoming a mainstream asset. “Bitcoin prices have continued their meteoric rise with Tesla, BNY Mellon and Mastercard’s announcements of greater acceptance of cryptocurrencies,” JPMorgan said in a research note last week. “But fintech innovation and increased demand...

February 23, 2021
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22Feb

México. Temen que la reforma eléctrica afecte a las Afore

Ante la inminente aprobación, sin modificaciones por parte del Legislativo, de los cambios en el sector eléctrico promovidos por el presidente Andrés Manuel López Obrador, al menos 41 mil 904 millones de pesos de recursos de las Afore invertidos a través de bonos de la Comisión Federal de Electricidad (CFE) se verían impactados, en un efecto que llevaría a minusvalías o menor apetito de inversionistas. De acuerdo con un reporte de la Comisión Nacional del Sistema de Ahorro para el...

February 22, 2021
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22Feb

U.S. Retirement Crisis Hits Black Americans Hard

Kimberly Owens doesn’t know if retirement will ever be a reality for her. A well-educated project coordinator in her late 40s, she has pulled from her retirement funds for emergencies twice in 20 years. Her 401(k) balance is in the low-five figures. “I’m going to be working until I am 75 at this rate,” said Ms. Owens, who works for the New Haven, Conn., campus of a medical-device company. “I’m not anywhere close to where I thought I was going...

February 22, 2021
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22Feb

Albania. Deficit in State Pension Scheme Deepening

The decit in the state pension scheme reached Dollar 506 million at the end of 2020, reaching the highest level since the start of the implementation of the new reform in this area. Government spending on pensions amounted to Dollar 1.34 billion, 2.2% more than in 2019, while contributions for social security payments fell for the rst time since 2016. Economic experts link this phenomenon to the eects of the Covid-19 pandemic, where many people lost their jobs, and in many...

February 22, 2021
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22Feb

Rwanda: ‘Rising Cost of Living’ Worries Pensioners

Pensioners have appealed for a rise in pension benefits, citing the rising cost of living. Dorothée Uwimana, the President of the Rwanda Pensioners' Association, told The New Times that the benefits they receive are not adequately adjusted for inflation and the cost of living in general. For instance, she explained that food prices have been rising steadily while pension benefits continued to be calculated based on the salaries that retirees used to earn many years This, Uwimana said, particularly hurts retirees who...

February 22, 2021
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19Feb

Global Pension Assets Study – 2021

By Willis Tower Watson The Global Pension Assets Study covers 22 major pension markets (the P22), which now totals US$52,522 billion in pension assets and account for 80% of the GDP of these economies. The study includes an analysis of the seven largest markets (the P7) which includes Australia, Canada, Japan, Netherlands, Switzerland, UK and US and comprises 92% of total pension assets. Get the book here

February 19, 2021
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19Feb

Perú. Es falso que se pueda garantizar la devolución del 100% de los aportesa la ONP y AFP, como ofrece Pepe Luna

El 7 de febrero el candidato al Congreso de la República por el partido Podemos Perú, José Luna Gálvez, realizó un video en Facebook, el cual cuenta con más de 3.4 millones de reproducciones y ha sido compartido más de 6.000 veces. En esta publicación, el aspirante al Parlamento dijo: “Existen pensionistas que reciben 8 soles. El Estado Peruano está condenando a la pobreza y a la miseria a millones de aportantes a la ONP (Oficina de Normalización Previsional). Nuestra lucha...

February 19, 2021
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