Reuters reported
Pension funds in developed economies are facing a new crisis as falling equities and tumbling bond yields widen their deficits, threatening the incomes and retirement dates of future retirees.
......
For future pensioners, it means they will potentially face a lower retirement income and a longer working life -- or both.
This year has been a nightmare for many in the industry -- which controls $35 trillion (21.7 trillion pounds), or a third of global financial assets -- and funding deficits are posting double-digit rises.
"We had a credit crisis and government bond crisis, and the third one we have is the pension crisis. This is the one where everything is going wrong and there's no obvious way out," said Kevin Wesbroom, UK head of global risk services at consultancy Aon Hewitt.
The sharp retreat in stocks through the summer has hurt them again by weakening their asset positions and threatening to erode stock market recoveries seen since the equity collapse surrounding the 2007-2009 credit crisis.
GIC, which draws its capital from CPF, is "sovereign fund" by name, but rather closer to a tyrannical mandatory pension fund. They will never give up trying to be smart until they have lost every single cent.
Pension funds in developed economies are facing a new crisis as falling equities and tumbling bond yields widen their deficits, threatening the incomes and retirement dates of future retirees.
......
For future pensioners, it means they will potentially face a lower retirement income and a longer working life -- or both.
This year has been a nightmare for many in the industry -- which controls $35 trillion (21.7 trillion pounds), or a third of global financial assets -- and funding deficits are posting double-digit rises.
"We had a credit crisis and government bond crisis, and the third one we have is the pension crisis. This is the one where everything is going wrong and there's no obvious way out," said Kevin Wesbroom, UK head of global risk services at consultancy Aon Hewitt.
The sharp retreat in stocks through the summer has hurt them again by weakening their asset positions and threatening to erode stock market recoveries seen since the equity collapse surrounding the 2007-2009 credit crisis.
GIC, which draws its capital from CPF, is "sovereign fund" by name, but rather closer to a tyrannical mandatory pension fund. They will never give up trying to be smart until they have lost every single cent.
2 comments:
Hi Veritas,
Check out this link:
http://en.wikipedia.org/wiki/Gold_reserves
As at end of last year, US is still the richest country in gold holding despite having so much debts. I do not hear of US selling gold to repay its debt too. Just thinking, if all currencies are debased, US would not care a thing too as they are still the richest.
Do you think we are all screwed by governments around the world and even with gold, we can only exchange them for a little more food to buy time when there's war everywhere or end of the world?
Check out VforeVendatta on Youtube and a report on Endgame. Suddenly it makes sense to me about Illuminati and their involvement in NASA and the likes around the world.
The whole logic of US is this. The worthless greenback may rot, so long as US hold on to gold, the more debase the currencies, the richer US become.
Official US has 8000 tons of gold, but I am not too sure its still there. The elite may have stolen it by fraudulent swap or loan deal. Nevertheless, those who hold gold will be the richest once paper money vaporize.
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