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U.S. life insurance company Northwestern Mutual (NM) has released its 2017 Planning & Progress Study, which pinpoints healthcare costs as the biggest obstacle to attaining financial security in retirement for Americans. In fact, there has been a significant increase in the number of Americans citing healthcare costs as their chief concerns (from 45% in 2016 to 58% in 2017). Lack of savings (44%) and uncertainty over Social Security (31%)

The Pensions & Investments (P&I) Research Center in October 2017 announced that it has just added data about pension risk transfers (PRTs) to a new database that contains details on more than 200 transactions over the past five years. The vast majority of the transactions in the database occurred in the U.S. and in the U.K.. These transactions represent more than $200 billion in liabilities that have been moved

Global mobility services provider SIRVA in October 2017 released its annual mobility report, which focuses on the challenges and opportunities associated with the increasing need and prevalence to align organizational growth and talent strategy with mobility. The evolution of talent mobility as a key enabler of organizational growth initiatives has created a demand for mobility programs that help organizations through policy support and service delivery. The report, Talent Mobility

The French government presented their highly-anticipated finance bill for 2018 on 27 September 2017, indicating a number of employment-related measures that will affect both individuals and companies. The tax package complements recent changes in employment law that are designed to make France a more attractive place for creating jobs, a key part of President Macron’s policy. The bill is being debated by both houses of parliament before being adopted

It is becoming more challenging for human resources (HR) departments to retain talent, according to the July 2017 edition of McKinsey Quarterly titled The CEO’s guide to competing through HR. The report outlines the state of HR in the fight to stem high turnover and recruit more talent, and suggests steps that an innovative HR department might take in order to become competitive in today’s talent market. The report

The United States and the European Union in September 2017 signed an agreement that will help U.S. insurers and reinsurers operate in the E.U. by ending Solvency II (S2) regulatory barriers. The American Insurance Association said the agreement provides mutual acknowledgement of prudential supervision in both the E.U. and the United States, and will eliminate barriers that U.S. insurers have faced since S2 was implemented. For reinsurance, the agreement

OECD Sees Synchronized Momentum for Global Economy, But Urges Further Policy Action To Ensure Sustainable And Inclusive Medium-Term Growth The world economy has picked up momentum as expanding investment, employment, and trade support has synchronized growth across most countries, according to the OECD’s latest Interim Economic Outlook. The pace of expansion is projected to be faster in 2017 than in 2016, with a further uptick expected in 2018, but

The Nationwide Retirement Institute Consumer Social Security PR Study, released in August 2017 and conducted by Harris Poll, reveals a discouraging outlook for many Americans when it comes to retirement and Social Security benefits. According to the survey, only 21 percent of future retirees say life in retirement will be better, and 28 percent of recent retirees say life is worse in retirement. Retirees who say life is worse

The U.S. uninsured population is expected to decrease to 26.9 million individuals in 2021, according to a report recently released by Freedonia Focus Reports and titled Healthcare Insurance: United States. Factors contributing to the decline include continued improvements in the labor market, which helps individuals gain private coverage; uninsured persons reaching the age of 65 and qualifying for Medicare; continued gains in Medicaid enrollment; and some gains in the

According to the 2017 “Getting Paid In America” survey conducted by the American Payroll Association, 82 percent of employees across America have access to a self-service portal where they have the ability to view their pay and benefits information at their convenience. Most employers are also happy to use these portals, whereby the employee experience becomes more personalized with access to scheduling, time tracking, pay and other information at

The OECD in October 2017 published its annual Entrepreneurship at a Glance report. The 2017 edition includes a new trends chapter, which also introduces recent developments related to the emergence of the “gig economy” and the use of digital tools by micro-enterprises. Summary In most OECD countries where data are available, numbers of new firm creations continue to recover, and in many countries are above pre‑crisis highs, suggesting that

B3i, a group of fifteen global insurers and reinsurers, in September 2017 launched a fully functional beta version of its integrated blockchain solution for the re/insurance industry at the 61st Monte Carlo RVS Conference. In seeking to fulfill the potential of blockchain, B3i group members have attempted to build an efficient worldwide industry platform for market participants to more easily cede, handle, and trade risks. Speaking for B3i, Paul

Local tax authorities throughout China are stepping up efforts to collect individual income tax (IIT), with more frequent and extensive investigations of both individuals and companies, according to a September 2017 report from management consultancy Deloitte. This includes particular focus on three areas: claims relating to non-taxable benefits in kind (BIKs), potential permanent establishment (PE) exposure where a non-resident company sends business travelers to China, and the taxation of

New research in the UK from MetLife Employee Benefits shows the number of British workers who value their employee benefits has surged to 55% in the past two years, but employers need to work harder to increase trust among their employees. MetLife’s research shows that rising uncertainty in the job market and the wider economy is increasing employees’ interest in benefits: 55% of employees now say they value their

HR software provider for mid-sized companies Namely has released the results of its open enrollment survey, which identifies what is most important to U.S. employees when it comes to benefits. Findings indicate that 36% of employees rate their HR departments with a “C” or lower when it comes to open enrollment. While 57% of respondents say that their employer has prepared them “pretty well,” only 27% give them an

Increased leisure time and reduced labor supply of young men may be partly due to the improved quality of video games, according to a working paper published in September 2017 by the U.S. National Bureau of Economic Research (NBER). The objective of the paper is to distinguish the increase in leisure due to improved leisure technology from increases in leisure due to other forces such as declining labor market

US-based employee benefits consultants United Benefit Advisors (UBA) in August 2017 published a report revealing that, contrary to common belief, small businesses are keeping pace with large employers when it comes to offering health benefits to their employees. The report, “Small Business Health Care: How Employees Are Faring,” outlines how employees across all plan types pay an average of $3,378 toward annual health insurance benefits, with their employer picking

Management consulting firm McKinsey & Company in August 2017 published an article, “A 360-degree approach to patient adherence” that discusses how an insight-driven approach can help when patients drive up healthcare costs by neglecting their treatment regimens. The article points out that 50 to 60 percent of patients are likely to skip medications, follow-up appointments and other treatment protocols, which places them at risk for complications and overall worsening

Global Benefits Vision is proud to announce the release of the new Global Employee Benefits and Global Mobility Directory! Our vision is for the directory to be the core record of Employee Benefits and Global Mobility providers in the industry, and a one-stop shop for company data and contact details at your fingertips. We will be revising it periodically to ensure the data remain current and to add new

A woman from British Columbia, Canada, was issued a lifetime ban at the U.S. border after U.S. Customs & Border Protection (CBP) officials found an email conversation with her doctor on her smartphone that indicated she had survived a fentanyl overdose. Fentanyl is a powerful opioid pain medication that sometimes is illicitly manufactured and used as a recreational drug, causing many overdose deaths. The 28-year-old woman did not have

– “Are you prepared for the future of work?” This is the question addressed in the July 2017 issue of the Deloitte University Press Review, studying trends that are shaping the future of work – from new talent models, cognitive tools and augmented reality, to the gig economy and more – and how companies and employees alike can take action to define what’s next. “Future of Work” refers to

Total global fintech investment more than doubled quarter over quarter in Q2’17 to US $8.4 billion, up from US$3.6 billion in Q1’17, according to the KPMG Pulse of Fintech report. The fintech market rebound was helped by global M&A investment, with US$5.9 billion in deal value for M&A for the quarter. Comparatively, global VC funding to fintech companies declined slightly, with just over US$2.5 billion in VC funding raised

A July 2017 report by Research Nester indicates that the corporate travel insurance market expects to see robust growth from 2017 to 2024 at a rate of 8.6% per year (CAGR  – Compound Average Growth Rate) over the forecast period, thanks to an increase in business travel. The European region accounts for the largest market share in the global corporate travel insurance market, followed by Asia-Pacific, while Europe is

The 2017 Cigna 360o Well-being Survey of Globally Mobile Individuals, released in July 2017, shows that Britons’ sense of personal well-being has seen a sharp decline over the past three years, as financial pressures mount and put strains on family health. The U.K. has fallen from third to eighth place of the 13 countries in the study, and now lags behind India and China. Researchers looked at five main

Almost three-quarters of insurers believe the insurance sector has failed to show leadership in digital innovation due to regulations, reluctance, and cost, according to a January 2017 survey by Willis Towers Watson (WTW) with Mergermarket. The survey identifies where insurers see the biggest holes in their digital capabilities and reveals how they plan to close these gaps. The respondents cited cost as one factor affecting the lack of meaningful

More than 90% of C-suite executives and board members are making or are considering making changes in their supply chains and international footprints due to the current political and economic environment, according to a July 2017 A.T. Kearney Global Business Policy Council study. C-suite executives see challenges in rising political risks and increasingly populist and protectionist policies in democratic countries. For the second year in a row, respondents also

U.S. insurer Country Financial in July 2017 published its tenth Country Financial Security Index survey. Ten years after the beginning of the 2007 financial crisis known as the Great Recession, nearly 30% of Americans believe they have yet to recover financially or that they never will, despite signals from the Federal Reserve that the U.S. economy is growing. The survey reveals that this is due in large part to