No contigency plan for protracted unemployment
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Death to Leegime corruption. The citizens and cheated PR/new citizens remember you Lee. You have no way out this time. Do not count too much on Indonesia. I do not think anyone can guarantee your safety there. The emergency base in Indonesia is totally compromised. Your Thailand base is fucked. PRC will sell you out. UK and USA will not accept you. Malaysia will not forgive you. You must be such a fucked person that only your mother loves you. We know your father does not.
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Protracted or projected ?
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OECD: $4 trillion lost by pension funds
By Drew Carter
Posted: November 13, 2008, 2:11 PM ET
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The recent financial crisis drained retirement funds worldwide by $4 trillion, according to an estimate from the Organization for Economic Co-operation and Development.
The estimate was made Wednesday at an OECD seminar in Paris in a presentation by Pablo Antolin, principal economist, financial affairs division at OECD.
“The main message is that losses are substantial and dependent on the asset allocation of pension funds in a specific country,” Mr. Antolin said today in a telephone interview.
The estimate — that defined benefit and defined contribution plans lost the money from Jan. 1 to early November — was calculated by using OECD’s own asset allocation data by country as of Dec. 31 and applying global equities, bonds and cash index returns to those allocations.
Losses were highest in Ireland, the U.S. and the Netherlands, where exposures to equities were the highest at the end of 2007; pension funds in those countries lost 20% or more of assets on average, according to OECD’s website. Pension funds in Korea and Luxembourg, where equity exposures are very low, have experienced minor losses.
Funding levels have declined five to 15 percentage points on average, depending on the discount rate used, and the OECD expects that when year-end data is reported the figures will be worse.
By Drew Carter
Posted: November 13, 2008, 2:11 PM ET
Post a Comment
Recommend (8)
The recent financial crisis drained retirement funds worldwide by $4 trillion, according to an estimate from the Organization for Economic Co-operation and Development.
The estimate was made Wednesday at an OECD seminar in Paris in a presentation by Pablo Antolin, principal economist, financial affairs division at OECD.
“The main message is that losses are substantial and dependent on the asset allocation of pension funds in a specific country,” Mr. Antolin said today in a telephone interview.
The estimate — that defined benefit and defined contribution plans lost the money from Jan. 1 to early November — was calculated by using OECD’s own asset allocation data by country as of Dec. 31 and applying global equities, bonds and cash index returns to those allocations.
Losses were highest in Ireland, the U.S. and the Netherlands, where exposures to equities were the highest at the end of 2007; pension funds in those countries lost 20% or more of assets on average, according to OECD’s website. Pension funds in Korea and Luxembourg, where equity exposures are very low, have experienced minor losses.
Funding levels have declined five to 15 percentage points on average, depending on the discount rate used, and the OECD expects that when year-end data is reported the figures will be worse.
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they must be very proud when they are collecting their millions :p
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Of course they have.
Their contingency plan is to make sure that they themselves can get through any protracted recession.
Say who so?
they have already politely asked many times of the employers:
Pl do not sack so many Spore citizens,not until PAP wisn the erection.
How many employers would play ball?usually they all do,but ion this bcase,they ask:
Where is our peanuts?
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Projected = Golden Period - by da da , Protracted = long term recession - by son, it is "Father & Son Reunion" song..."no!, I won't give you false hope, on this strange & mournful day"....
But the PAP & the unions have carried us through the last Asian Financial Crises, which was in 1997, you forgot?. They have came out stronger, and will recover & move effortlessly through this 'mother of all recession', and come out even stronger; just like a phoenix that rises from the ashes!!
Hear the mantra before...come out stronger!!!!
, but you die first, what to do, it had to happen, external forces dictate your demise, and you are having your red period!!!This will be a strange & mournful day for all common garden variety Singaporeans!!
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the r not just proud, they r damn arrogant !!!
some of them are not exactly arrogant lah... MP Lily Neo is my idol, she shouts out for the poor!
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some of them are not exactly arrogant lah... MP Lily Neo is my idol, she shouts out for the poor!
LHL is my favourite he raised 2% GST to help the less fortunate!, and their MP's all shout for the poor?, any difference?
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LHL is my favourite he raised 2% GST to help the less fortunate!, and their MP's all shout for the poor?, any difference?
would we see a re-enactment of the Barisan episode?
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would we see a re-enactment of the Barisan episode?
Dr.Lee is dead & gone...who is leading the Barisan?..CSJ?:p
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if CSJ is a part of PAP, he could
The 'rich man poor man" syndrome, when you place CSJ in the PAP, he will morph very quickly into a MIW monster!
You think he, will stick by his principles?, when he is paid a million a year?
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The 'rich man poor man" syndrome, when you place CSJ in the PAP, he will morph very quickly into a MIW monster!
You think he, will stick by his principles?, when he is paid a million a year?
hmm... some truth there... we need a few good men with great ideals to lead us out of this mess...
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