July 2021
01Jul

US. Now Is The Time To Re-Think Retirement Plan Conventional Wisdom

Retirement plan design can make or break an employee’s ability to maintain their standard of living in retirement. Over the past several decades, many private sector companies implemented a complete overhaul in retirement plan design, shifting from defined benefit pensions to 401(k)-style defined contribution accounts. Originally designed to supplement rather than replace pensions, 401(k) plans have become the primary employer-sponsored plan for many U.S. workers. This transition meant sacrificing a number of important features of pension plans and economic efficiencies....

July 1, 2021
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June 2021
28Jun

Merger of SSNIT numbers, Ghana Card begins on June 28

The merger of the SSNIT and Ghana Cards commences on Monday June 28 with a call on individuals with SSNIT numbers to follow one of three ways to ensure the merger. These include the use of a shortcode as well as the website of SSNIT. In an interview with GBC News, Manager in charge of Corporate Affairs of SSNIT Afua Sarkodie, said the transition period for the exercise is between June 28 to December this year. Already the Trust has held a...

June 28, 2021
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28Jun

DIY pensions gather steam in Korea

Three years ago, a 32-year-old software developer surnamed Park bought an individual retirement pension plan, not knowing exactly what his corporate pension plan was as an employee. Holding a portfolio mix of stock funds and a bond fund, with one of the stock funds returning as high as 43 percent since inception, the private retirement plan is now offering him a financial return, a tax deduction and a sense of relief. “I have doubts whether I‘ll be able to get the...

June 28, 2021
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24Jun

The Gender Pensions Gap

By A recent report by the trade union Prospect found that the gender pensions income gap (39.5%) was more than double the size of the total gender pay gap (18.5%), with the average female pensioner £7000 p.a. poorer than their male equivalent.2 This inequality in the present is the result of the unequal accrual of pension entitlements over decades. It is mainly the product of women’s lower state pension entitlement, the gender pay gap, lower historic access to workplace pensions and...

June 24, 2021
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11Jun

Public Pension Schemes in Seven European Countries: A Micro-Simulation Approach

By Hand Hansen The idea of this book is to provide insight into the composition and structure of public pension and early retirement schemes in seven European countries, Denmark, Sweden, Finland, Great Britain, Germany, the Netherlands and Italy. The component and structural analyses are based on micro simulation models, which, after validation of the models, makes it possible to perform a great number of precise calculations in a very short time and to present the results in graphical form, close...

June 11, 2021
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08Jun

ForUsAll Debuts the ‘Alt 401(k)’ to Provide In-Plan Cryptocurrency Access

Another cryptocurrency foray into 401ks was announced today. ForUsAll, a retirement investment platform for small businesses, introduced the Alt 401(k), its turnkey retirement investment platform that allows employers to provide alternative investment options within 401k plans—what the company is calling a “first of its kind.” Read also US. Pensions Are Almost Fully Funded and Coming for Your Bonds The San Francisco-based fintech company is enabling employers to offer cryptocurrency as the plan’s first alternative investment by selecting Coinbase Institutional, a leading cryptocurrency...

June 8, 2021
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04Jun

EIOPA issues Guidelines on the supervisory reporting for the Pan-European Personal Pension Product

The European Insurance and Occupational Pensions Authority published today the Guidelines on the supervisory reporting regarding the Pan-European Personal Pension Product (PEPP) to ensure the common, uniform and consistent application of the PEPP Regulation's reporting requirements. The Guidelines complement the Delegated Regulation (EU) 2021/895 and the Delegated Regulation (EU) 2021/896 and regulate the applicable reporting deadlines for the PEPP providers to the competent authorities in line with the relevant sectoral rules in place. Furthermore, the Guidelines define the requirements of...

June 4, 2021
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May 2021
31May

China. ‘Third pillar’ of pension cover can help aging society

Two important documents－this year's Government Work Report and the 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035－put forward that the so-called third pillar of endowment insurance will develop in a well-regulated way. China entered the club of aging societies in 2000. While the total population is growing at a low speed, the elderly group has been growing at a high speed in recent years. According to the seventh national population census,...

May 31, 2021
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20May

Scaling Up Sustainable Investment through Blockchain-Based Project Bonds

By Yushi Chen, Ulrich Volz This paper explores options for mobilizing domestic savings through fintech solutions to scale up sustainable investment. Most developing and emerging economies face an urgent need to scale up sustainable finance for low-carbon and climate-resilient infrastructure investment, yet underdeveloped capital markets tend to inhibit domestic resource mobilization for infrastructure investment. At the same time, domestic savers in many developing and emerging economies face a scarcity of “safe” assets in the local currency, resulting in the exporting...

May 20, 2021
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20May

Retirement Planning Not A Priority For New Zealanders

While it’s a dream for many to be able to retire and have plenty of savings in the bank, that’s not the reality for many Kiwis. While the government does offer a pension, it’s not a lot of money, so if we want to be able to maintain the lifestyle we had while working, a large amount of savings is required. However, many Kiwis are leaving it too late to save up enough to make them comfortable in their later...

May 20, 2021
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