August 2023
11Aug

Retirement Benefits Authority orders trustees to revise Kenyatta National Hospital pension dues

The Retirement Benefits Authority (RBA) has ordered the trustees of Kenyatta National Hospital (KNH) Staff Superannuation Scheme to recalculate the pension dues of workers who retired between 2011 and 2017. In a letter to the chairman, board of trustees, the RBA ordered the trustees to recalculate the dues as per a judgment obtained by 115 former employees at the Retirement Benefits tribunal. The former employees had sued the trustees of the scheme seeking unpaid lump sum benefits amounting to Sh123 million...

August 11, 2023
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10Aug

How To Reach A $2 Million Retirement Savings Goal

Retirement marks the time to savor the rewards of your hard work and cherish the freedom to pursue your passions. However, a comfortable retirement requires careful planning and sufficient savings to support your desired lifestyle. Many aspire to achieve a $2 million retirement fund, but is this feasible in America? Understanding Your Retirement Savings Goal Before diving into your $2 million retirement quest, it's vital to comprehend how much you'll need to save. Your retirement savings goal hinges on various factors,...

August 10, 2023
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July 2023
24Jul

Most South Africans don’t have enough for retirement

Deloitte’s South African Investment Management Outlook for 2023 recently revealed that the country’s savings rate sits at only 0,5% and is below that of most emerging market peers. Equally concerning was a report from Genesis Analytics in partnership with the Financial Sector Conduct Authority (FSCA) that showed that 90% of South African retirees cannot maintain the same standard of living prior to retirement. This means that many will most likely need to work even after retirement. Add to this the fact...

July 24, 2023
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October 2022
24Oct

The anxieties of growing old when you’re LGBTQ

Who would you call to bring you chicken soup? For many LGBTQ seniors who are alone, that’s no easy question. Who would bring you chicken soup if you were sick? For most people of a certain age, that’s easy — a spouse or an adult child would step up. For many LGBTQ people, however, it’s not a simple question at all. “Many [would] have to think really hard about this,” said Imani Woody, an academic and community advocate who retired from AARP...

October 24, 2022
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October 2021
08Oct

National pension reform: Why it is imperative in South Africa

When the Department of Social Development (DSD) released its Green Paper on Comprehensive Social Security and Retirement Reforms, the proposal to set up a national pension scheme was swiftly shot down. The Green Paper proposed a National Social Security Fund to which all workers earning over R1,667 a month would contribute. Employers and employees would initially contribute between 8% and 12% of earnings up to a ceiling of R23,000 a month. Such was the force of the opposition that there was...

October 8, 2021
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07Oct

BlackRock Adds Annuity Product to Meet Participant Demand

BlackRock’s annuity product just got a lot more popular. The New York-based investment management company announced that five plan sponsors, representing $7.5 billion in target date investments, are electing to use BlackRock’s annuity product as their default investment option in company retirement plans. BlackRock is anticipating a 2022 adoption by the plans of its LifePath Paycheck, which will affect 120,000 U.S.-based 401k plan participants, including those in the Tennessee Valley Authority Retirement System. The announcement comes on the heels of its...

October 7, 2021
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06Oct

Will South Africa’s social security reforms impact HNWs?

In September 2021, The South African Department of Social Development withdrew its Green Paper on Comprehensive Social Security and Retirement Reform. The paper proposed to introduce a government-run social security fund that would have allowed people to receive retirement, survivor, disability and/or unemployment benefits. Contributions would have been based on a person’s income and wealth, with different bands and benefits provided accordingly. But the government gazetted the green paper to “provide better clarity on some of the matters entailed [in it]”...

October 6, 2021
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04Oct

Many Americans are facing a retirement savings shortfall

A new survey says 40% of Americans actually fear retirement more than death. The study found 87% of people fear not having enough income in retirement. The second biggest fear is losing health insurance. A variety of factors are influencing these fears. Many Americans are facing retirement savings shortfall and more than half worry about the future of social security. When deciding to retire, one of the biggest factors to consider is if you have enough money saved. To sustain...

October 4, 2021
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July 2019

02Jul

US. Workers in California are one step closer to retirement security

The Golden State is trying to make everyone’s golden years a little more comfortable.California’s state-sponsored retirement program, called CalSavers, is now out of the pilot phase and officially available to the public. The automatic enrollment program sets up an individual retirement account for employers to offer their workers, who can make contributions through payroll just like they would if they had a 401(k) plan. California is the third state to run with this program, following Oregon and Illinois.More than...

July 2, 2019
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August 2018

18Aug

The Economics of Artificial Intelligence: An Agenda

By Ajay Agrawal, Joshua Gans, and Avi Goldfarb Artificial intelligence (AI) technologies have advanced rapidly over the last several years. As the technology continues to improve, it may have a substantial impact on the economy with respect to productivity, growth, inequality, market power, innovation, and employment. In 2016, the White House put out several reports emphasizing this potential impact. Despite its importance, there is little economics research on the topic. The research that exists is derived from past technologies (such...

August 18, 2018
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