Trump Accounts, launching July 4, aim to help children build financial security. While offering early investing benefits, experts question if they will close the gender gap in retirement savings due to factors like lower earnings and caregiving responsibilities for women.
Andy Haldane, president of the British Chambers of Commerce, proposes linking over £50bn in pension tax relief to investments in UK businesses. This aims to address a funding gap for small- and medium-sized enterprises and introduce a "home bias" in retirement savings.
A 64-year-old man in Japan was shocked to find his retirement savings of NT$6 million reduced to NT$160 after 40 years of work. His wife confessed to secretly sending most of the money to her family for 10 years, depleting their savings.
Top Democrats, including Senators Bernie Sanders and Elizabeth Warren, have urged the US Labor Department to rescind its proposal allowing digital assets and "alternative assets" in 401(k) plans, citing volatility and lack of regulation.
Democrats, led by Bernie Sanders and Elizabeth Warren, are strongly opposing a US Department of Labor proposal to allow 401(k) investments in cryptocurrency and private assets, citing risks to workers' retirement savings and potential conflicts of interest related to Donald Trump.
Australians are increasingly using superannuation for weight loss surgery due to high costs, with some opting for cheaper procedures overseas despite medical warnings about risks. Local surgeons emphasize the importance of post-operative support.
The revived Pensions Commission will urge ministers to address the significant gender gap in retirement savings, where women have half the pension wealth of men. The report highlights the 'motherhood penalty' and women's greater likelihood of part-time work contributing to the disparity.
About half of women have most of their non-retirement savings either in low-yielding accounts or physical cash, neither of which keep up with inflation.
The federal government is reviewing superannuation laws that could see retirement savings paid to domestic violence perpetrators. But industry experts are worried the draft policy reform could only make matters worse.
The federal government is reviewing superannuation laws that could see retirement savings paid to domestic violence perpetrators. But industry experts are worried the draft policy reform could only make matters worse.
President Donald Trump said savers who build a $465,000 nest egg would be "rich." Whether that's true depends on one's perception of wealth.
President Donald Trump said savers who build a $465,000 nest egg would be "rich." Whether that's true or not depends on one's perception of wealth.
President Trump signed an executive order Thursday to create TrumpIRA.gov, a new website launching in 2027 where workers without employer-sponsored retirement plans can enroll in private-sector IRA accounts and receive federal matching contributions through the Saver's Match program. Low-income Americans earning up to $20,000 (single) or $40,000 (joint) qualify for up to $1,000 annually in matching funds. Roughly 56 million Americans lack access to employer-sponsored retirement plans, and 26 million eligible for Saver's Match currently have no way to collect it.
