January 2020

15Jan

United Arab Emirates: The Introduction Of The DIFC Employee Workplace Savings Plan And Other Qualifying Schemes

the DIFC Authority is replacing the existing arrangement of statutory end of service gratuity, payable on termination of employment, with a defined contribution savings scheme, in which contributions are made monthly into a scheme (the Qualifying Scheme). The Qualifying Scheme which is being supported by the DIFC Authority is the DIFC Employee Workplace Savings plan (DEWS). However, employers may choose to use a Qualifying Alternative Scheme (QAS). The laws implementing the new arrangements, through amendments to DIFC Law No....

January 15, 2020
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November 2019

11Nov

Bank of Estonia: Pension reform to bring pressure for tax increase with it

The Bank of Estonia recommends not making the second pillar of Estonia's pension system voluntary, as that may result in lower old-age pensions in the future and bring pressure to raise taxes in the future with it. The Ministry of Finance sent the pension reform bill that would make the second pillar optional for an interministerial round of approvals last Wednesday. Earlier this fall, the Bank of Estonia drew up an impact analysis of changes to the system of...

November 11, 2019
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October 2019

25Oct

Social Pensions and Market Values: A Conflict?

By Quentin Detienne, Elmar Schmidt Social occupational pension schemes, i.e. compulsory pension schemes that are the result of collective bargaining, fulfil an important social function. At the same time, they seem to conflict with some fundamental single market tenets, such as the European Union (EU) Single Market’s four fundamental freedoms and competition law principles. In this respect, occupational pension schemes in the Member States seem to embody the inherent tensions contained within the EU’s social market economy: a clash...

October 25, 2019
Articles, Pension design, Sustainability, ,
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May 2019

04May

Averting the Multiemployer Pension Solvency Crisis

By Charles Blahous (Mercatus Center at George Mason University)By Mercatus Research Paper The Pension Benefit Guaranty Corporation (PBGC) multiemployer pension insurance program faces projected insolvency, driven by systemic underfunding of multiemployer pension plans. To address this brewing crisis, Congress has established a joint select committee to develop multiemployer pension reforms. Primary causes of the crisis include lax funding rules and inaccurate valuations of pension assets and liabilities. Explanations frequently offered for underfunding, such as financial market downturns...

May 4, 2019
Adequacy, Articles, System Sustainability, ,
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June 2018

16Jun

Third Party Administration of Insurance & Pension Revenues in Germany: Product Revenues in Germany

By Editorial DataGroup Europe The Third Party Administration of Insurance & Pension Revenues Germany eBook provides 14 years Historic and Forecast data on the market for each of the 22 Products / Services covered. The Products / Services covered (Third party administration of insurance & pension Lines) are classified by the 5-Digit NAICS Product Codes and each Product and Services is then further defined and analysed by each 6 to 10-Digit NAICS Product Codes. In addition full Financial Data (188...

June 16, 2018
Books, Management, Pension design, ,
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March 2018

05Mar

Disclosure of costs, charges and investments in DC occupational pensions

UK Department for Work and Pensions This paper forms the Government’s response to a consultation on the draft Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations 2018, which ran from the 26 October 2017 to 7 December 2017. The draft Regulations were designed to: introduce requirements for certain occupational schemes offering money purchase benefits to publish charge and transaction cost information, disclose this to members and others, and tell members where to find it; and introduce requirements for the same...

March 5, 2018
Articles, Pension design, Regulation, Savings, , ,
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January 2018

22Jan

The Devil You Know: A Survey Examining How Retail Investors Seek Out and Use Financial Information and Investment Advice

By Christine Sgarlata Chung (Albany Law School) Everyday, people across the United States make decisions that will affect their financial futures — e.g., borrowing money to buy a house, go to college, or start a business; investing in the stock market to save for retirement; using check cashing services or payday lenders rather than accounts at banks or credit unions for day-to-day banking needs, and the like. Traditional tenets of financial economics and investment theory assume that people make fully...

January 22, 2018
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December 2017

04Dec

Generational Transfers within the Occupational Pension System in Switzerland

By Severine Arnold (-Gaille) (University of Lausanne - Faculty of Business and Economics) & Anca Jijiie (Faculty of Business and Economics) Solidarity, a key element of any social security system, can be defined as the total intended redistributions that take place between the existent groups within the system, with the purpose of helping each other. However, unintended redistributions also exist, affecting the fairness of the system and leading to animosities between these groups, in particular between active members and pensioners....

December 4, 2017
Aging, Articles, Labor Market, , ,
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October 2017

08Oct

Occupational Pension Funds (IORPs) & Sustainability: What Does the Prudent Person Principle Say?

By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...

October 8, 2017
Aging, Articles, Pension design, Regulation, , ,
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08Oct

Occupational Pension Funds (IORPs) & Sustainability: What Does the Prudent Person Principle Say?

By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...

October 8, 2017
Aging, Articles, Pension design, Regulation, , ,
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