February 2022
21Feb

China to allow more pension providers

China will expand its commercial pension pilot scheme nationwide from March 1 this year and allow other pension providers to participate in addition to six Chinese life insurers that have been allowed previously, China Banking and Insurance Regulatory Commission said on Monday (February 21). CBIRC asked pension providers to keep exploring new products to cater to the need of new economy and flexible workers. It initiated a one-year pilot scheme for commercial pension products in Zhejiang and Chongqing province from June...

February 21, 2022
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21Feb

UK. Royal Mail moves ahead with CDC scheme

Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members. Royal Mail launched its consultation in September 2021, in which it laid out plans for the new Royal Mail Collective Pension Plan. Under a CDC arrangement, members pool investment and longevity risk and contribution rates for employers and employees are set in advance. The group finalised and confirmed...

February 21, 2022
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17Feb

Global Pension Assets Study – 2022

By Thinking Ahead Institute The Global Pension Assets Study estimates global pension fund assets across 22 major pension markets (the P22). These geographies now total a record US$56.6 trillion in pension assets and account for 76% of the GDP of these economies. The study, conducted by WTW and the Thinking Ahead Institute since the 1990s, includes an analysis of the seven largest markets (the P7): Australia, Canada, Japan, Netherlands, Switzerland, UK and US comprise 92% of total pension assets, unchanged...

February 17, 2022
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17Feb

Racial Wealth Disparities: Reconsidering the Roles of Human Capital and Inheritance

By John Edward Sabelhaus, Jeffrey P. Thompson In this paper, we present updated measures of racial disparities in wealth using the most recent data from the Survey of Consumer Finances (SCF), augmented by household-level estimates of defined benefit (DB) pension wealth developed by Sabelhaus and Volz (2020). Including this important asset, we find that racial wealth disparities are smaller than the numbers typically discussed in other research or in the media, but the disparities remain substantial. The paper proceeds by...

February 17, 2022
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10Feb

Kenya. Pension-backed mortgages boost to affordable housing

For more than a decade, Kenyans have had the leeway to use up to 60 percent of their accrued retirement benefits as a guarantee for mortgage loans. However, a study by the Retirement Benefits Authority (RBA) shows that less than 0.1 percent of members of retirement benefits schemes have taken advantage of the provision. In a bid to further catalyse individuals to utilise their pension savings towards homeownership, the Retirement Benefits (Mortgage Loans) - (Amendment) Regulations was enacted in 2020 allowing...

February 10, 2022
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Morningstar’s Annual Target-Date Strategy Landscape
03Feb

Morningstar’s Annual Target-Date Strategy Landscape

By  MorningStar The coronavirus pandemic presented the biggest challenge for target-date strategies since the financial crisis of 2008. Target-date strategies play a central role in many Americans' retirement success by often serving as the default investment option in their defined-contribution retirement plans. Although targetdate performance rebounded sharply from the first quarter’s bear market, the fallout from the economic shock continued to weigh on investor contributions throughout the year. In this report, we examine the impact of the economic uncertainty created by the pandemic on...

February 3, 2022
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02Feb

Malaysia. We need a wholesome approach to retirement

For an individual, especially one who is not pensionable, retirement planning is rightly a 30-year consideration but, in reality, most would only start to look at their financial circumstances in the last five to ten years to retirement. While we should be concerned that 6.1 million out of the nearly 15 million Employees Provident Fund (EPF) members have less than RM10,000 in their EPF accounts, simplistic proposals to tinker with the dividend rate based on the amount held in one’s...

February 2, 2022
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January 2022
21Jan

Is Demand for Older Workers Adjusting to an Aging Labor Force?

By Damir Cosic & C. Eugene Steuerle This paper analyzes the demand for older workers, their substitutability with younger workers, and how well the demand for older workers tracks changes in the age composition of the labor force. The main data source for the analysis is the Quarterly Workforce Indicators from 2000 to 2018, which provides earnings and employment by sector and metropolitan statistical area. The analysis also uses KLEMS national data to estimate the sector-specific price and quantity of...

January 21, 2022
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Pensions and benefits will not keep up with cost of living, warns think tank
13Jan

Pensions and benefits will not keep up with cost of living, warns think tank

Benefits should rise to match the soaring cost of living as millions face crippling price rises driven by energy bills, a think tank has said. Read also UK. Pensions largest component of household wealth – ONS Many benefits and the state pension are inflation-linked, but - by convention - rates for this year were set before prices started rising rapidly. Read also UK. Parliament moves to ban flat fees on small pots It means most will only go up by 3.1% in April,...

January 13, 2022
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12Jan

US. 5 Benefits of Delaying Retirement

Delaying retirement can be a major sacrifice, especially if you're eager to leave behind the working world and start enjoying a life of leisure as a senior. But it's also a sacrifice worth making in many cases. There are five huge benefits of putting off your departure from your job, all of which should be carefully considered before you decide to give notice.   1. You can make a delayed Social Security claim The longer you wait to start your Social Security checks,...

January 12, 2022
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