Poor performers on notice as Australia’s $1.96 trln pension system faces overhaul

By Jonathan Barrett SYDNEY, May 29 : Fund managers who perform poorly should be locked out of Australia’s A$2.6 trillion ($1.96 trillion) pension industry, the government’s peak economic advisory body has recommended. The Productivity Commission said in a report on Tuesday that a shortlist of up to 10 strong-performing pension products, chosen by an independent […]

Australia floats shake-up of $2 trillion pension system, “zombie” insurance

By Jonathan Barrett SYDNEY, May 29 : Fund managers who perform poorly face being locked out of Australia’s A$2.6 trillion ($1.96 trillion) pension industry if recommendations from the government’s top economic advisory body are implemented. The Productivity Commission said in a report on Tuesday that a shortlist of up to 10 strong-performing pension products, chosen […]

Brazil pension reform clears hurdle, faces tough approval path

By Maria Carolina Marcello BRASILIA, May 4 : President Michel Temer’s proposal to reform Brazil’s costly social security system cleared a committee vote, but the measure, deeply unpopular with voters, faces an uphill battle in the full Congress. The committee voted 23-14 to approve the constitutional amendment, which would make Brazilians work longer and reduce […]

Brazilian pension reform bill clears first hurdle in Congress

By Anthony Boadle BRASILIA, Dec 15 : A pension reform proposed by President Michel Temer that would add more than a decade to Brazilians’ working lives will be debated in Congress after an overnight vote that laid bare divisions among lawmakers over the plan. Pension reform is the next move by Temer to bring a […]

Italian MPs’ eagerness for pensions may delay snap election, sceptics say

By Giselda Vagnoni ROME, Dec 9 : With hundreds of Italy’s lawmakers months away from qualifying for a life-long pension for less than five years’ work, sceptics say many of them hope to delay a snap election until their benefits are locked in. “(Some lawmakers) are really bent on reaching the end of the legislature […]