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Pensions & Annuities tag returned 261 results

  • Australia: Govt to review retirement income system

    Treasurer Josh Frydenberg will commission a review of the retirement income system, including the interaction of superannuation, government pensions and, potentially, taxation, according to a report in the Australian Financial Review (AFR).

    Asia | 27 May 2019
  • Japan: Aegon sells stake in variable annuity ventures to partner

    Dutch insurer Aegon has announced an agreement to sell its 50% stake in variable annuity joint ventures in Japan for total cash proceeds of approximately EUR130m ($146m) to its partner Sony Life.

    Asia | 27 May 2019
  • Commercial personal pension business set for explosive growth

    The market potential for commercial personal pension business in China is a "blue ocean" and ready for explosive growth, according to global management consultancy firm McKinsey & Co. Insurance companies and banks will play a more important role in China's pension system.

    China | 17 May 2019
  • Australians: More intend to retire despite inadequate savings levels

    The number of people planning to retire in the next 12 months is estimated at 439,000, a 6% increase on the 2018 level of 414,000 and 11% above the 2017 figure of 395,000. This increase is despite the savings levels of these retirees-to-be being well below the recommended level to be self- funded, according to survey findings by market research firm Roy Morgan.

    Asia | 17 May 2019
  • UAE: DIFC to replace gratuities with low-cost savings scheme by Jan 2020

    The DIFC is reportedly pushing ahead with plans to replace expat workers' end-of-service gratuity system with a funded, trust-based savings scheme by 1 January 2020, said media reports.

    Middle East | 07 May 2019
  • China: Foreign insurers set sights to fill local pension gap

    With China's elderly population ageing rapidly, the pension deficit gap is expected to expand further even though the country's pension penetration rate remains very low. According to the China Pension Actuarial Report 2019-2050 from the Chinese Academy of Social Sciences (CASS) think tank, China's pension deficit gap is estimated to be CNY600bn ($89.1bn) by 2018 and is expected to rise to CNY890bn by 2020. However, this bring opportunities for insurers to fill the gap - as reported by China Times.

    Asia | 02 May 2019
  • Govt vows basic pensions are guaranteed amid warnings of funds drying up

    China will fully guarantee future basic pension payments, a government official has told reporters, amid warnings from government researchers that social pension funds could run out by 2035, reported Reuters.

    China | 26 Apr 2019
  • Foreign insurers eye private pension market

    Foreign insurers including Generali and Prudential are in early talks with authorities to enter China's private pension sector, people with knowledge of the matter said, as Beijing opens up to overseas companies, reported Reuters.

    China | 19 Apr 2019
  • Territorialism hinders national pooling of basic pension funds

    National coordination of China's government-run old age pension insurance scheme is the only way forward for social security reform, and the need for reform is pressing, according to an opinion piece in Caixin Global.

    China | 19 Apr 2019
  • Australia: Large pension funds in talks over mega merger

    Two of Australia's biggest pension funds, VicSuper and First State Super, have started discussions to explore the benefits of a merger.

    Asia | 17 Apr 2019