Ambachtsheer questions El-Erian’s backing of third-pillar pension savings

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first_img“The other thing countries with high MMGPI scores do is to facilitate high levels of participation in Pillar 2 pension plans, and to create cost-effective, fiduciary oriented Pillar 2 pension intermediaries,” Ambachtsheer added.“The combination of these two features ensures broad Pillar 2 coverage, creates measurable ‘value-for-money’ for participants, and eliminates the need for high cost Pillar 3 ‘solutions’. “The most recent MMGPI saw Denmark, the Netherlands and Australia returned to the top three slots. All three companies offer either a predictable means-tested state pension, a high contributory retirement benefit, or a combination of both.Ambachtsheer then went on to criticise the colourful language employed by El-Erian, who likened pension systems across the world to the Titanic, believed unable to sink on the eve of its ill-fated maiden voyage.“Far from being Titanics,” Ambachtsheer said, “these cost-effective, fiduciary oriented Pillar 2 pension organizations are a critical ingredient of sustainable 21st Century capitalism.” Workers should not be incentivised to save into expensive third-pillar pension systems, according to Keith Ambachtsheer, who criticised a number of reform proposals put forward by former PIMCO co-CIO Mohamed El-Erian.Ambachtsheer argued it was harder to think of a “worse” policy initiative than to improve pension savings rates by nudging savers into such third-pillar options, and added the fees associated with such options could cost savers significant sums over several decades.Responding to an opinion piece by El-Erian, who remains chief economic advisor at Allianz following his departure from PIMCO, the academic also said that it was often the wealthy who believed it benefitted less affluent workers to save into third-pillar arrangements.However, in a policy paper he argued countries with high pension sustainability ratings – such as those granted under the Melbourne Mercer Global Pension Index (MMGPI) – offered means-tested state pension arrangements, thereby removing the incentive for such third pillar savings.last_img read more


Tag: 夜上海论坛PX

first_img Loading… Read Also: Eriksen holds talks with Tottenham chairman Daniel Levy The report suggests Mourinho’s training sessions are ‘said to have an over-emphasis on long balls, flick-ons and throw-ins’ and are too basic for the Tottenham squad. A number of players are also said to be unhappy with the way Mourinho has treated summer signing Tanguy Ndombele. Mourinho publicly criticised the Frenchman over his inconsistent fitness and there are growing concerns that any chance he had of flourishing in north London is now gone. FacebookTwitterWhatsAppEmail分享 Promoted ContentWhich Country Is The Most Romantic In The World?7 Ways To Understand Your Girlfriend BetterCouples Who Celebrated Their Union In A Unique, Unforgettable Way7 Black Hole Facts That Will Change Your View Of The UniverseWho Is The Most Powerful Woman On Earth?7 Of The Wealthiest Universities In The World14 Hilarious Comics Made By Women You Need To Follow Right NowBest & Worst Celebrity Endorsed Games Ever Made7 Ways To Understand Your Girlfriend BetterTop 10 Most Romantic Nations In The World8 Best 1980s High Tech Gadgets10 Bollywood Celeb Weight Loss Transformations That Will Stun Youcenter_img Jose Mourinho is coming under increased scrutiny by Tottenham players amid growing unrest at his style within the squad, according to reports. Spurs have not won any of their last four Premier League games and go into Wednesday night’s home clash with Norwich nine points off the Champions League places. Jose Mourinho’s tactics and training methods are coming under scrutiny by Tottenham players Players have spoken highly of Mourinho’s methods and the impact of his new assistant Joao Sacramento but Sun sources claim the mood in the camp is different. According to The Sun, Tottenham players have been left ‘dismayed by his old-school tactics and uninspiring training sessions’. It is claimed several key players have become disillusioned with Mourinho’s tactics after just two months in charge, despite initially welcoming his appointment after Mauricio Pochettino’s departure.Advertisementlast_img read more