October 2019

09Oct

South Africa. The impact of ethical investment by pension funds

The core functions of a pension fund are to provide its beneficiaries with good enough returns for them to live on – and a good enough world to retire into. It makes little sense to simply strive to generate financial returns for pensioners, if the investments that provide those returns are reckless, bad for the planet or perpetuate social inequality and inequity. It is thus common sense that responsible investing – which all investing should actually be – must...

October 9, 2019
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08Oct

Japan. Excessive concern over public pension

The Health, Labor and Welfare Ministry’s Social Security Council in late August released its report to examine sustainability of the public pension system every five years. This time, the report received particular attention since it followed the recent controversy as to whether public pension benefits are enough to cover people’s retirement expenses. However, misguided comments on the issue flooded social media and blogs, and some of the mass-media reports tended to present a one-sided coverage. Read also Japan. World’s Largest...

October 8, 2019
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07Oct

UK. The Guardian view on women’s pensions: a feminist issue

Some means must be found to ease the hardship faced by the 1950s-born women worst affected by pension age changes. Last week the high court rejected the arguments in a judicial review brought by the campaign group BackTo60. The group argued that changes to the law in 1995 and 2011 were discriminatory on grounds of sex and age, and that 3.8 million women should be compensated. But while last Thursday’s loss was a setback, the campaign is far from...

October 7, 2019
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07Oct

Zimbabwe. Pensioners to get express cash

The Government is working with the Reserve Bank of Zimbabwe and banks to ensure that pensioners access cash for their pension payouts. The country has been experiencing cash shortages that have seen members of the public literally camping at banking institutions who are failing to satisfy their clients. The hardest hit, however, are pensioners, with some now being forced to sleep on bank pavements for more than a night in anticipation of cash. Minister of Public Service, Labour ...

October 7, 2019
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04Oct

Lithuanian President Nausėda: pension raises must outpace wage growth

Can Lithuanian pensioners turn Lithuanian economy upside down? Upon hearing the threats of Lithuania’s commercial banks what will happen to the economy if the ruling farmers and greens (LFGU) move forward with the proposal to tax bank assets, which is part of Lithuania’s plan to rake in additional 100 million euro for welfare spending, and the pensions, too, it may seem inevitable. Low Lithuanian pensions The average pension in Lithuania is currently 345 euros, however around 60 percent of...

October 4, 2019
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03Oct

US. The New Realities Of Work And Retirement

Bob Orozco barks out instructions like a drill sergeant. The 40 or so older adults in this class follow his lead, stretching and bending and marching in place. It goes like this for nearly an hour, with 89-year-old Orozco doing every move he asks of his class. He does that in each of the 11 classes he teaches every week at this YMCA in Laguna Niguel, Calif. "I probably will work until something stops me," Orozco says. He may...

October 3, 2019
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01Oct

UK government writes to British expats but pension freeze risk remains

The UK government is writing to more than 363,000 British expats who retired and now live in the EU to reassure them that their state pensions will still increase in the event of a no-deal Brexit. However, that guarantee is only valid for three years. The Department for Work and Pensions (DWP) is sending out letters outlining that even in the event of a no deal Brexit, pensions for those in the EU will be uprated for a further 3 years...

October 1, 2019
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September 2019

30Sep

UK. State pension could rise by 4% next year – giving elderly £351 extra a year

If you reached state pension age before April 6 in 2016, you'll be receiving the old state pension, which means your payments would rise from £129.20 to £134.35 per week - or an extra £267.28 per year, insurer Aegon says. The state pension is currently protected by the so-called triple lock, which ensures it rises by at least the same rate as the cost of living. It means that the state pension increases either by 2.5 per cent a...

September 30, 2019
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24Sep

US. Financial Fails in Retirement Planning

Big or small, missteps with our money can harm our financial future. Here are some of the most common financial fails, and how to avoid them. 1. Failing to Save We used to think of retirement planning like a three-legged stool. Retirees could rely on a pension from their employer, Social Security from the government and their own retirement savings. Those three legs created a nice nest egg. Now, with pensions becoming a thing of the past and the...

September 24, 2019
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23Sep

The U.S. Didn’t Make the Top 10 Best Countries for Retirement

The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped...

September 23, 2019
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