admin, Author at Pension Policy International

30MayMay 30, 2018

AIG Expands Presence in Pension Risk Transfer Market

American International Group, Inc. (NYSE:AIG), announced that it has further expanded its presence in the pension risk transfer market, after reaching agreement on the two largest plan termination transactions of 2017. The two transactions, entered into by American General Life Insurance Company, part of AIG’s Life & Retirement business, represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and active members. AIG expects continued growth in 2018 as well as over the longer term...

May 30, 2018

News

30MayMay 30, 2018

South Korea’s $579 bln pension fund to boost overseas investment

South Korea's National Pension Service (NPS) said on Wednesday it would significantly increase its asset allocation to overseas and alternative investments to diversify its holdings. NPS, the world's third-largest pension fund with around 68 percent of its $579 billion portfolio invested in South Korea, has been pressured to diversify beyond the limitations of South Korea's economy. The fund is seen as too big for South Korea's relatively limited opportunities, and studies suggest the fund cannot earn the returns needed to sustain...

May 30, 2018

News

30MayMay 30, 2018

BR Analysis. Money to spend only on wages and pensions? Romania’s social spending enters danger zone above 60 pct of total budget, limiting room for response in case of economic downturn

Official data released in March show Romania’s GDP, the index widely used to measure the size of national economies, recorded growth of 6.9 percent in 2017 in real terms, the highest since 2008, to reach RON 858.3 billion (EUR 187.9 billion). Experts point out that much of the economic growth in Romania is the product of a consumer bonanza, stimulated by years of wage-led growth government policy. But this model has generated high public spending on wages and pensions and larger...

May 30, 2018

News, Slider

30MayMay 30, 2018

Micro-pension Scheme will Deepen Asset Accumulation in Nigeria–Stanbic IBTC Pension Managers

Managing Director of Stanbic IBTC Pension Managers Limited, Mr Eric Fajemisin, has backed measures taken by the National Pension Commission (PENCOM) to sustain growth of the Nigerian pension industry. According to him, micro pension scheme, multi-fund investment structure and Pension account transfer window, to mention but a few, are among initiatives capable of putting the sector in stronger footing going forward. Stanbic IBTC Pension Managers Limited is the biggest pension fund administrator (PFA) in the country. Read More: Business Post

May 30, 2018

News, Slider

30MayMay 30, 2018

More than half of older people in Latin America & the Caribbean don’t receive pensions: Report

A new study by two United Nations’ agencies has found that more than half of older persons in Latin America and the Caribbean do not receive a pension from a contributing system. In the joint publication, released in Santiago, Chile on Wednesday, by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO), the lack of income from a contributory pension system in more than half of all men, and above all in women,...

May 30, 2018

News, Slider

30MayMay 30, 2018

Chile. Piñera retiró proyecto que creaba el Consejo de Ahorro Colectivo, uno de los pilares de reforma previsional de Bachelet

Durante la tarde de este martes, el gobierno de Sebastián Piñera decidió retirar de tramitación el proyecto de reforma constitucional que crea el Consejo de Ahorro Colectivo, uno de los pilares de la reforma previsional impulsada por la administración de Michelle Bachelet ante la creciente disconformidad con el sistema de AFPs que se expresó en numerosas manifestaciones y el plebiscito organizado por “No+AFP”. Al momento de presentar la iniciativa, en junio de 2017, Michelle Bachelet explicó que su propósito del...

May 30, 2018

Noticias

29MayMay 29, 2018

Investor group looks to connect bottom line to green, social factors

Some of Canada’s largest institutional investors are preparing a fresh push on companies to adopt strategies, risk management and disclosure practices to address the bottom-line impact of environmental and social factors such as the socio-economic impact on communities. The Canadian Coalition for Good Governance — an umbrella organization whose members, including the Ontario Teachers’ Pension Plan Board, RBC Global Asset Management Inc. and Franklin Templeton Investments Corp., manage nearly $4 trillion in assets — is unveiling an eight-point plan on...

May 29, 2018

News

29MayMay 29, 2018

Akropolis Aims to Defuse the Pension Time Bomb with Blockchain

The global state pension industry is in dire straits. Many pension programs around the world are grossly undercapitalized and moving swiftly towards insolvency. For example, the Russian Pension Fund deficit is forecasted to double in 2018, while the combined shortfall in funding public pension obligations in 20 OECD countries amounts to $78 trillion, according to a Citibank report. This situation threatens to strip millions of people of their hard-earned benefits in their old age. Globally, the retirement-age population will grow...

May 29, 2018

News, Slider

29MayMay 29, 2018

UK. Pension advisers are charging high fees for cheap funds

Pension drawdown investors are being short-changed by advisers who recommend cheap tracker funds but charge higher fees typically paid for a more diversified portfolio. Provided that the risk profile of the investment matches that of the client, such advice is not technically wrong and, on the surface, appears cost-saving. But it also allows the adviser to extract more fees for less work. Simon Williams (not his real name), 60, is one such client. The accountant wishes to remain anonymous because his...

May 29, 2018

News, Slider

29MayMay 29, 2018

Australia floats shake-up of $2 trillion pension system, “zombie” insurance

Fund managers who perform poorly face being locked out of Australia’s A$2.6 trillion ($1.96 trillion) pension industry if recommendations from the government’s top economic advisory body are implemented. The Productivity Commission said in a report on Tuesday that a shortlist of up to 10 strong-performing pension products, chosen by an independent panel, should be presented to workers from which to choose when they enter the workforce. If adopted, the Commission’s model would replace a system whereby the employer chooses a fund...

May 29, 2018

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May 2018