June 2017

20Jun

UK pensions lifeboat to invest £150m in M6 toll road deal

Sky News has learnt that the Pension Protection Fund (PPF) is putting the funds into the company which operates the M6 toll road, just days after it was sold to IFM Investors, its second group of Australian owners. The PPF is understood to be investing in the debt attached to the M6's operating company, alongside the infrastructure arm of Allianz Global Investors, the German asset manager. Sources said the deal would be announced later this week, possibly as early as Tuesday. It...

June 20, 2017
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20Jun

US. Ending Pittsburgh’s fossil fuel pension investments wouldn’t be easy or cheap

Researchers say that Pittsburgh's pension funds could lose nearly $500,000 a year if the city stops investing in fossil fuel-related companies — as Pittsburgh Mayor Bill Peduto has said he is committed to doing. While that loss would be damaging for Pittsburgh's underfunded pension funds, it wouldn't do much to change the behavior of fossil fuel companies, the researchers suggest. “It's purely a symbolic move that has no impact on the climate,” said Chris Fiore of the Chicago-based economic consulting firm...

June 20, 2017
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20Jun

PSNC 2017: How Current Trends Will Drive the Future Retirement Planning Market

During Day Three of the PLANSPONSOR National Conference, in Washington, D.C., BrightScope data revealed top trends influencing the defined contribution (DC) industry. Allegra Heyligers, managing director of Strategic Insight, highlighted the pivotal role defined contribution plans play in the retirement marketplace, with a $7 trillion increase in DC assets since 2001, 24 million plan participants and 660,000 existing plans. Additionally, Heyligers mentioned the growing average rate of participation and rising cash contributions. In 2015, total cash contributions amounted to $425...

June 20, 2017
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20Jun

UK. £11bn merger moves closer for Scots financial services giants

STANDARD Life chairman Sir Gerry Grimstone has said the £11bn merger with Aberdeen Asset Management will create a global funds powerhouse run from Scotland but underlined the enlarged group’s expected commitment to the pensions and savings market. Speaking after shareholders in both firms gave strong backing to the proposal to combine the firms, Sir Gerry said the pension arm will play a key role in bringing in funds for the asset management business to invest. “The pensions and savings business in...

June 20, 2017
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20Jun

Australia. SMSF pension phase members compliance obligations approaching

The association said pension phase members needed to ensure they had met their minimum pension payments by 30 June, and that they should not overlook withdrawing their minimum pension amount for the 2016/17 financial year. The SMSF Association’s chief executive, John Maroney, said if members were in the transition-to-retirement phase they must take care not to exceed the maximum payment. “If you don’t take your minimum pension, the assets supporting the pension account are deemed not be in retirement phase for...

June 20, 2017
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20Jun

US. CalPERS pension fund to review private equity investments

The California Public Employees' Retirement System, or CalPERS, plans to scrutinize its private equity investments at next month's board meeting with an eye toward reviewing the governance and transparency of the asset class. Chief Investment Officer Ted Eliopoulos told the investment board on Monday that despite the high returns of its private equity investments, the negative public scrutiny of the asset class had made "it increasingly difficult for CalPERS to compete successfully in the private equity marketplace." The "fish bowl of...

June 20, 2017
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20Jun

México. Afores adquirieron más del 80% de los bonos para mejorar las escuelas mexicanas

En la tercera ronda de emisiones de los bonos educativos, un instrumento financiero que lanzó el gobierno federal para mejorar las escuelas en México, las ganonas fueron las Afores, que adquirieron el 83.5% del total ofertado. En 2015, las secretarías de Educación Pública y de Hacienda lanzaron la primera emisión de los Certificados de Infraestructura Escolar Nacional -conocidos como bonos educativos- para financiar la modernización de 33 mil planteles escolares en el país. El objetivo es que estos certificados bursátiles...

June 20, 2017
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20Jun

México. Imposible, pedir más ahorro con tan bajo salario

Aunque se están analizando las propuestas para reformar el sistema de pensiones, los legisladores ven poco probable su aprobación debido a que aún hay otros pendientes como el incremento al salario mínimo, explicó Araceli Damián, presidenta de la Comisión de Seguridad Social de la Cámara de Diputados. En entrevista con Crónica, la diputada federal de Morena dijo que antes de pensar en mejorar la contribución que hacen los mexicanos a su ahorro para el retiro, primero se debe de garantizar...

June 20, 2017
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20Jun

Chile. Un 20% de quienes cotizan en las AFP hacen ahorro voluntario

Sólo un 20% de quienes cotizan en las AFP hacen ahorro voluntario (APV) para mejorar sus pensiones, cifra que baja a un 12% si se mide sobre la fuerza laboral total de Chile, puesto que de los 8 millones 700 mil personas activas que trabajan, 5 millones 500 mil cotizan en la AFP, y de estas últimas sólo 1 millón 100 mil tienen APV. El APV es un instrumento que ofrece beneficios tributarios, como obtener por parte del Estado un...

June 20, 2017
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20Jun

UK. The Co-operative Bank to raise new capital. Pension Scheme, lynchpin of a £700m deal

The Co-operative Bank has confirmed it is in “advanced discussions” with a group of existing investors to raise new capital. Responding to recent media speculation, Co-op Bank has confirmed talks are progressing with a group of hedge funds on a new deal to recapitalise the bank as well as a “liability management exercise” to swap debt for equity. Sky News reported last week The Co-op Group was locked in a stand-off with the investors about a £200m pension deal, which the...

June 20, 2017
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