admin, Author at Pension Policy International

24JanJanuary 24, 2018

UK. Cold call pension scammers ordered to repay £13.7m by court

Four individuals behind an occupational ‘pension scam’ have been told by the High Court to pay back £13.7 million to their victims following a prosecution led by The Pensions Regulator (TPR). Around 245 individuals were convinced to invest in one of 11 pension schemes operated by Friendly Pensions Limited via cold-calls, TPR has said in a release. The four people behind the scheme, David Austin, Susan Dalton, Alan Barratt and Julian Hanson, have been ordered by the High Court to pay...

January 24, 2018

News

24JanJanuary 24, 2018

Sweden. Manager Overseeing $54 Billion Says She’s Looking for New Risks

As the global stock rally has many pondering just how bad the correction will be, Sweden’s AP7 pension fund is seeking out new risks. The 430 billion-krona ($54 billion) fund is looking at diversifying its portfolio to include more small cap investments after reducing the leverage it takes since 2015. “We seek diversification to get a better risk-adjusted return,” Ingrid Albinsson, the fund’s chief investment officer, said in a phone interview on Friday. “The reason for the diversification effort in the...

January 24, 2018

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24JanJanuary 24, 2018

UK. Universities face 14 days of strike action over pensions

Staff are angry at plans to change the Universities Superannuation Scheme from a defined benefit scheme, where they would have a guaranteed income in retirement - to a defined contribution scheme, where their pensions would be subject to changes in the stock market. UCU general secretary Sally Hunt said: "Universities will be hit with levels of strike action not seen before on UK campuses if a deal cannot be done over the future of USS pensions." The union says it would...

January 24, 2018

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24JanJanuary 24, 2018

World’s Largest Pension Fund Needs More Risky Business: Gadfly

It’s time the world’s largest pension fund boosted its risk appetite again. Japan’s Government Pension Investment Fund has been fleeing local government bonds ever since it doubled its allocation targets for domestic and overseas stocks in late 2014. It’s likely to have already exceeded that quota due to the global equities bull run. As of Sept. 30, the latest data available, GPIF’s portfolio weighting in local and international shares was already within 1 percentage point of its target of 25 percent...

January 24, 2018

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23JanJanuary 23, 2018

Chile. Sólo 0,9% de afiliados a AFP cuenta con saldo necesario para una pensión de $500 mil

La presente semana se debe votar la reforma previsional de la Presidenta Michelle Bachelet, la que contempla la creación del Nuevo Ahorro Colectivo y del Consejo de Ahorro Consultivo. De estos sólo el primero, que aumenta en 5 puntos porcentuales (pp) la cotización con cargo al empleador, sería puesto en tabla para su discusión, señalaron conocedores del proceso a Pulso. Más aún, para su aprobación necesita de tres quintos de la Cámara debido a que se trata de un cambio...

January 23, 2018

NoticiasChile

23JanJanuary 23, 2018

México. Gobierno, sin margen para reformar el sistema de pensiones: CIEP

Los recursos que se destinan al pago de pensiones y jubilaciones de trabajadores que se encuentran en el régimen de beneficio definido o de reparto dejan sin margen de maniobra al gobierno para crear políticas públicas que den incentivos en el ahorro para el retiro, expuso Alejandra Macías, experta en pensiones del Centro de Investigación Económica y Presupuestaria (CIEP). “Las pensiones que reciben los trabajadores de Petróleos Mexicanos, Comisión Federal de Electricidad, Instituto de Seguridad y Servicios Sociales de los...

January 23, 2018

NoticiasMexico

23JanJanuary 23, 2018

UK. Fears over 280,000 pensions as Barclays dumps final salary scheme on ‘casino bank’

Barclays has attracted stinging criticism over plans to give responsibility for its giant staff pension fund to its "riskier" investment banking division. Frank Field MP, who chairs the influential Work and Pensions parliamentary committee, has written to the chief of the Pensions Regulator over concerns that 280,000 savers' pensions have been put under threat by the move. Barclays offered staff a generous "final salary" pension scheme until 1997, when it was replaced with a "defined contribution" plan. The final salary fund,...

January 23, 2018

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23JanJanuary 23, 2018

AIG to Expand Pension, Hedge Fund Ties After $5.56 Billion Deal

American International Group Inc. will expand its relationships with alternative-asset managers after it completes a $5.56 billion deal to buy Validus Holdings Ltd., Chief Executive Officer Brian Duperreault said. Validus’s AlphaCat unit, which oversees $3.4 billion, works with pensions, hedge funds and other investors to gain exposure to reinsurance assets, helping them bet on markets not closely correlated to financial securities such as stocks and bonds. Reinsurers provide backstop coverage for primary insurers. “Validus has been very, very good at matching...

January 23, 2018

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23JanJanuary 23, 2018

Canadian pension fund buying USD-144m stake in India’s ReNew Power

Canada Pension Plan Investment Board (CPPIB) is paying USD 144 million (EUR 118m) for a minority stake in Indian renewables developer and operator ReNew Power Ventures Pvt Ltd The two parties said in a joint statement today that the Toronto-based investment management organisation is acquiring a 6.3% stake in ReNew Power from the Asian Development Bank (ADB). The lender made its own equity investment in ReNew Power in July 2014. ReNew Power is an independent power producer (IPP) that develops wind,...

January 23, 2018

News, SliderCanada

22JanJanuary 22, 2018

British PM May says will stop companies abusing pension schemes

British Prime Minister Theresa May said she would clamp down on bosses who try to “line their own pockets” while not protecting workers’ pensions, after the collapse of outsourcer Carillion with a 900-million-pound hole in its pension scheme. Writing in Sunday’s Observer newspaper, the Prime Minister said private companies could help deliver better public services, but the system needed to be rebalanced in favor of ordinary working people. “In the spring, we will set out tough new rules for executives who...

January 22, 2018

News, SliderUK

January 2018