January 2018

30Jan

Canada Pension Plan Investment Board Extends Cooperation with Longfor Properties to Develop Mixed-Use Sites in Chengdu and Shanghai, China

 Canada Pension Plan Investment Board (CPPIB) and Longfor Properties Co. Ltd (Longfor) announced today they are extending their cooperation to include two new mixed-use real estate development projects in Chengdu and Shanghai in China, for a total CPPIB commitment of approximately RMB 4,200 million (C$800 million). “We are pleased to extend our existing relationship with Longfor Properties, one of the top real estate developers in China, through these development projects in Chengdu and Shanghai. Both cities are well positioned to...

January 30, 2018
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30Jan

U.S. pensions seen adding bonds, paring stocks – Wells Fargo

U.S. pensions are expected to shift more money into bonds and out of equities to rebalance their holdings at month-end in the wake of strong gains in the stock market in January, Wells Fargo strategists said on Monday. Retirement plans may need to add $16 billion in fixed income and to reduce up to $20 billion in equities for their month-end asset-allocation rebalancing, they wrote in a research note. Read More: Reuters

January 30, 2018
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30Jan

SEC looking into MetLife’s failure to pay some pensions

MetLife Inc said on Monday the U.S. Securities and Exchange Commission was looking into the insurer’s failure to pay some workers’ pensions. MetLife, in a statement, said the SEC’s enforcement staff has inquired about payments that the insurer failed to make for people who receive a type of annuity benefit from the company via its retirement business. Less than 5 percent of 600,000 people are affected, the company has said. The New York insurer estimated increasing total reserves by between $525...

January 30, 2018
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29Jan

US. The rationality (or otherwise) of public pension fund managers

A new research paper from the Stanford University Graduate School of Business discusses the rationality (or otherwise) of the return expectations of institutional investors, with especial reference to public pension funds. It finds that the returns that pension fund managers expect from their investments are extrapolated from the returns those investments have made in the past. That is a normal human tendency, to presuppose inertia, but it is not ideally rational. The report is co-authored by Aleksandar Andonov, of Erasmus University,...

January 29, 2018
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29Jan

UK. Carillion ‘fell short on pensions for a decade’

Bosses at Carillion are set for a heated showdown with MPs after the Commons work and pensions committee accused the failed outsourcer of attempting to “wriggle out” of its pension obligations for the past decade. The committee released details of the way the company’s pension deficit and its cash problems were handled over several years. This week MPs will be questioning former Carillion executives and regulators as part of a joint inquiry into the company’s collapse with the business, energy...

January 29, 2018
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29Jan

Perú. BCRP: Límite de inversión en el exterior de las AFP subirá a 47% desde marzo

El Banco Central de Reserva del Perú (BCRP) aprobó elevar el límite operativo de inversión en el exterior de las Administradoras Privadas de Fondos de Pensiones (AFP). De esta manera desde el próximo jueves 1 de febrero el límite será de 46,5%, pero a partir del 1 de marzo este límite subirá a 47%. El BCRP explicó que el objetivo de esta medida es promover una mayor diversificación de las inversiones de las AFP, tal como demandan de manera constante las...

January 29, 2018
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29Jan

Understanding Earnings, Labor Supply, and Retirement Decisions

By Xiaodong Fan (University of New South Wales (UNSW)), Ananth Seshadri (University of Wisconsin - Madison - Department of Economics) & Christopher Taber (National Bureau of Economic Research (NBER); University of Wisconsin - Madison) We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the human capital and earnings dynamics literature). In...

January 29, 2018
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29Jan

Work-Life Balance and Labor Force Attachment at Older Ages

By Marco Angrisani (Center for Economic and Social Research (CESR)), Maria Casanova (University of California, Los Angeles (UCLA) - Department of Economics) & Erik Meijer (University of Southern California; RAND Corporation) We use data from the Health and Retirement Study to examine the role of work-life balance (WLB) as a nonmonetary determinant of retirement transitions, conditional on job attributes such as hours of work, compensation and benefits. We show that low levels of WLB are significantly associated with subsequent reductions...

January 29, 2018
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29Jan

A European Pensions Union: Towards a Strengthening of the European Pension Systems

By Pascal Borsjé (Clifford Chance LLP) & Hans van Meerten (Utrecht University - Utrecht Centre for Shared Regulation and Enforcement in Europe – RENFORCE) This contribution will especially address the EC’s general policy in respect of the IORP II Proposal, also in connection with general more recent EU law developments, and its consequences for the pension systems of the EU Member States, with a focus on the occupational pension system of the Netherlands. (more…)

January 29, 2018
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26Jan

Perú. AFP: rendimientos de los fondos pueden ser menores este año

Según cifras de la Asociación de Administradoras de Fondos de Pensiones (AAFP), los fondos de pensiones de las AFP registraron ganancias de entre 4,66% y 12,44%. En detalle, el fondo 0 (de protección de capital), que cumplió su primer año de funcionamiento, obtuvo una rentabilidad de 4,66%; mientras que en el fondo 1 (de bajo riesgo) el retorno fue de 9,27%. En el caso del fondo 2 (mixto y de riego medio), el rendimiento alcanzado fue 11,92%. Finalmente, el fondo...

January 26, 2018
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