Investment guidelines for pension funds

STUFF Minister of Foreign Affairs Nanaia Mahuta speaks on the Russia sanctions bill. An unintended consequence of sanctions on Russia’s financial institutions has meant more than 400 Kiwis have been unable to access a portion of their pension payments since the penalties were introduced. Without a social security arrangement with Russia or a law change, the Ministry of Social Development (MSD) says its hands are tied until sanctions lift – a move that will be reviewed in 2025 , but in reality may never happen. On Monday night, the Ministry of Foreign Affairs and Trade (MFAT) released new guidance to New Zealand banks , essentially saying it never meant for these pensioners to become collateral damage. The guidance said banks could accept transfers from Russian financial institutions in order to pay out what’s owed to those pensioners living in New Zealand. This comes after 30 of the 420 people affected contacted MSD, with four laying formal complaints over … [Read more...] about More than 400 NZ pensioners fail to receive payments due to Russian sanctions

Inflation 'swindles almost everybody' says Warren Buffett Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The cost of living crisis has stepped up another gear with Consumer Prices Index (CPI) inflation soaring again in the year to April 2022, figures published today show. Levels like this have not been observed since 1982, and many are worried about their finances. Related articles State pension alert as some may get ‘higher’ sum than full new amount Pensioner, 67, ‘fast forwards’ inheritance plans for children It presents particularly concerning news for retired individuals, many of whom were hoping to enjoy life after work without struggles. … [Read more...] about ‘Like 1982!’ Pensioners urged to brace as inflation hits ‘panic-inducing’ levels

This Morning: Woman in tears recalling getting scammed Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The woman was made to believe her bank was involved in dodgy dealings, and the police needed her to work undercover for them. The son of the victim shared the story, urging people to be on their guard and help protect their vulnerable peers and family members. Related articles Pensioner 1.25% National Insurance levy may be hiked to 13.25% Universal Credit: Claimants could get thousands more in 'freebies' The scam began in August 2021, the victim was contacted on her landline from a man claiming to be a police officer. He said that her … [Read more...] about ‘Eaten away at her trust and confidence’ – Pensioner, 83, loses £29,788 to scammers

Qatar committed Wednesday to pouring 4.7 billion euros ($4.9 billion) into Spain to invest in the economic overhaul the European country has launched thanks to its European Union pandemic recovery windfall. Qatar's Emir Shekih Tamim bin Hamad Al-Thani announced that the energy-rich gulf state would boost its investments in Spain at a state dinner with Spanish King Felipe VI late Tuesday. The details of the investments were not made public beyond Spain's government saying that they would help guarantee the country's “energy security” and its transition to a “green economy.” But with Europe scrambling to find alternatives to Russian energy, Qatar has been looked to a source of liquefied natural gas given its massive gas reserves. The emir and Spanish Prime Minister Pedro Sánchez met Wednesday in Madrid and signed 12 agreements to solidify stronger bilateral relations. The agreements covered topics ranging from the economy and commerce to education, military … [Read more...] about Qatar to boost investment in Spain by $4.9 billion

Rip Off Britain: Daughters are left in limbo over inheritance issues Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info New research has shown larger numbers of over 50s are now expecting to support their adult children financially. As a result of financial challenges facing families, over 50s are reevaluating inheritance plans. Related articles State pensioners may have to pay tax on their sum Pensioner 'flabbergasted' after £20,000 removed from her pension pot Some 15 percent of those asked said they would give away money as a result of the crisis, according to Saga Equity Release. This is the case for Barrie Smith, a 67-year-old man from … [Read more...] about Pensioner, 67, ‘fast forwards’ inheritance plans for children – ‘gives them a head start!’

Whanganui-based health research will inform national discussion and thinking at a critical time for health reform and Māori development. Two Kaupapa Māori research centres in Whanganui are among four independent research organisations that will share $38.3 million in Health Research Council (HRC) funding over the next seven years. Iwi-owned Whakauae Research Services and Whanganui-based Māori health and environment research institute Te Atawhai o te Ao are the only Kaupapa Māori research centres in the country to receive the funding. Te Atawhai o te Ao director Dr Rāwiri Tinirau said the national funding investment in Whanganui research speaks to the calibre of the work coming from the region. READ MORE: ‘Māori staff snaffled up’: Museum brings in succession plan 'Disrespectful, inappropriate' comments from council chair prompt racism-related training package Museum appoints curatorial team for famed taonga Māori collection “It builds on the mahi and research that … [Read more...] about Funding for Whanganui research comes at critical time for health reform

ELLA BATES-HERMANS/STUFF How does the government Budget work and what does that mean for you? Government has made a big investment of $196 million to support the wellbeing of the Pacific population in the 2022 Budget . This is $88m more than the amount directed to Pasifika in the last Budget. The 2022 Pacific People’s package includes a hefty $49.9m for Pacific health, to support Pacific providers to adapt models of care into the health system. Pacific funding has also been directed to housing, education, employment, migrant support and the Dawn Raids historical package. READ MORE: South Auckland healthcare providers welcome $140 million Omicron funding package Dawn raids history should be made compulsory in schools, Pasifika leaders say Government's apology for dawn raids 'just the beginning', Pasifika youth say Minister for Pacific Peoples Aupito William Sio said the Pacific package highlights the government’s commitment to supporting Pasifika. … [Read more...] about Budget 2022: What does the $196m investment mean for Pasifika?

Rishi Sunak has threatened energy companies with a windfall tax on their profits unless they increase investment in the UK's energy supply. Companies such as BP have come under increasing scrutiny amid surging costs. The London-listed company saw quarterly profits surge to the highest in more than a decade. It posted an underlying profit of $6.2bn, and said it would make $2.5bn of share buybacks in the second quarter of this year. Here, we look at the countries which have a similar tax and how one could work in the UK to help ease the cost-of-living crisis. What is a windfall tax? A windfall tax is a one-off raid on the profits of a company. In this case, the profits of energy companies have been boosted by the surge in oil and gas prices in the wake of Russia’s invasion of Ukraine . A year-long and one-off levy on their profits, which critics say are being lifted by factors they cannot control, could help pay to support squeezed households . Critics say that as … [Read more...] about What is the windfall tax and how would it work?

Now that the body of a man shot in the head has been discovered in the receding waters of drought-ravaged Lake Mead in Nevada, two Mafia experts speculate he could be one of three men connected to the Mafia who mysteriously disappeared. The dead man, shot execution-style, according to local police, was wearing clothing from a mid-to-late 1970s Kmart discount store when it was discovered on May 1 inside a corroded metal barrel. “Our research has found three possible victims who may be the body in the barrel,” wrote two authors, who have written books on the Mafia, for The Daily Mail. “The thread that strings these three men together is they were all linked to the most powerful Las Vegas mob operation of that time – Argent Corp., a front company for an organized crime operation that ran some of Las Vegas’ top gambling operations,” the authors write. Jeff Burbank, the author of Las Vegas Babylon: True Tales of Glitter, Glamour, and Greed , and Geoff Schumacher, the author of … [Read more...] about Dead Man Talks: Mob Experts Offer Three Identities For Body Washed Up In Lake Mead | The Daily Wire

Rachel Reeves questioned on Labour's growth plan Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Shadow Chancellor criticised the Conservative Government policy of increasing national insurance contributions by 1.25 percent from April. Ms Reeves condemned the pressure being placed on workers during the cost of living crisis as the Government continues to dodge the introduction of a windfall tax against energy companies. Despite her criticism, the Labour MP seemed reluctant to explain the costing details of her party’s suggested emergency budget to tackle the crisis. Related articles Millionaires campaigning for higher taxes: ‘We've got enough!' … [Read more...] about ‘Where does the money come from?’ Reeves on the spot to explain Labour growth plan