NEWS
Mexican lawmakers approve new pension fund backed by president
Mexico’s Senate approved the creation of a new pension fund on Thursday aimed at boosting payouts to the lowest-earning recipients. The creation of the fund, which is part of a pension reform proposed by outgoing President Andres Manuel Lopez Obrador, won the support of 70 senators, with 43 against and two abstentions, after a heated […]
Nearly Half of the Largest US Pension Funds are More Than 100% Funded, Milliman Reports
Milliman, which tracks the status of the largest 100 corporate defined benefit plans in the U.S., reported that corporate pension funding is near its all-time highs in the recent results of its 2024 corporate pension funding study. Among Milliman’s findings, the funded status of these plans declined slightly from 99.4% to 98.5%, due to a slight […]
UK. Public trust in pensions rises, but reservations remain
Trafalgar House’s Trust and Confidence Index polled 2,000 people to assess how much they trust the pension industry and whether they believe it will meet their retirement needs. It asked participants to rate their trust in the pensions industry on a scale of 0 to 10, with 0 being “not at all” and 10 being […]
Ghana. SSNIT reserves projected to hit zero in 12 years – ILO
This was revealed in an actuarial valuation study of the Social Security and National Insurance Trusts (SSNIT) viability. According to ILO, total income including contributions, investment income and other income, will no longer be sufficient to pay for annual expenditures including benefit payments to pensioners by 2029. “Starting in 2029, total income (contributions, investment income […]
Canada. 73% of OPB plan members want ESG considerations included in investment decisions: survey
Roughly seven in 10 (73 per cent) Ontario Pension Board plan members believe environmental, social and governance factors should play a critical role in the plan’s investment considerations, according to a new survey included in the investment organization’s inaugural ESG report. The survey, which polled roughly 10,000 plan members, found nearly two-fifths (39 per cent) of […]
U.S. corporate pension funding remains near 100% in 2023 — Milliman
U.S. corporate pension plan funding ratios fell slightly to 98.5% in 2023 due to falling discount rates, according to Milliman’s annual Corporate Pension Funding Study. The study of the 100 U.S. public companies with the largest defined benefit plans showed that the average funding ratio fell from 99.4% a year earlier due to a 17-basis-point […]
UK. Nearly half of pension holders haven’t considered inheritors
Almost half (46 per cent) of UK adults with pensions have not considered who should inherit them, research from Canada Life has found. The firm’s research revealed that over half (54 per cent) of UK adults with pensions haven’t completed an expression of wish form, with one in 10 (10 per cent) admitting that the […]
China’s unique retirement plan: why children still matter when it comes to support in old age
At the end of last year, the number of people in China aged 65 and above reached 217 million, making up 15.4 per cent of the total population. This has led to concerns that with rapid ageing, the existing pension system may fail to keep pace. As a result, elderly people have turned to raising […]