PENSION PILLAR
One of three pension formats as outlined by the World Bank in 1998 and which has since been adopted by many economically reforming countries in Central and Eastern Europe. The goal of the three-pillar system is to separate the major objectives of pension (retirement) plans into the following pillars:
Pillar 1 – A standardized, state-run pension system, which offers basic coverage and is primarily focused on reducing poverty.
Pillar 2 – A funded system that recipients and employers pay into; this includes pension funds and defined-contribution accounts/plans.
Pillar 3 – Voluntary private funded accounts, including individual savings plans, insurance, etc.
POPULAR TERMS
Current Rate Method
Process of translating all foreign currency holdings on a company’s balance sheet using the current exchange rate. This is the most broadly u ...
Amplitude
The amplitude is the price difference from the trough’s midpoint to the peak of a security’s midpoint. It is usually positive in bullis ...
Sunshine Laws
Laws requiring transparency in government by making meetings, votes, deliberations, and other actions to be made available for public. It also mand ...
Subjective Probability
Describing an individual’s personal judgment on the likelihood of a certain event’s occurrence. This probability has no formal computat ...
McDonough School of Business
Established in 1957, it is the business school of Georgetown University, which is located in Washington, DC. It offers both undergraduate and postg ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Student Loans: Repayment in Times of Financial Difficulty
One day, you are in the middle of a financial hardship. Unfortunately, you still have student loans to pay. What will you do? In times like these, ...
Retirement Planning: Last-Minute Preparation
The road to comfortable and enjoyable retirement is not an easy road. You will experience some challenges along the way as you save up for your gol ...
An Introduction to Forex
The foreign exchange market or forex is the largest financial market in the world. It is where the monetary currencies of countries are traded. Thi ...
Connection of Inflation and Interest Rates
We cannot simply ignore the connectivity of inflation and interest rates. Both items are interrelated. So, whenever there is a news item about a co ...
Digesting Financial Statements: Revenue
When it comes to reporting revenue, companies should pinpoint the perilous revenues, match reported revenues to the money at hand, and analyze and ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 09:00 | GDP | 3 quarter | |
| 09:00 | Current Account | 3 quarter | |
| 09:00 | Business Investment | 3 quarter | |
| 09:00 | Import Price Index | Nov | |
| 10:00 | GDP | 3 quarter | |
| 15:30 | Gross Domestic Product | Oct | |
| 15:30 | Industrial Product Price Index | Nov | |
| 15:30 | Raw Materials Price Index | Nov | |
| 15:30 | Durable Goods Orders | Nov |
