October 2023
10Oct

EIOPA lays down strategic priorities for 2024/26 with focus on managing uncertainty

The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the period 2024-2026, highlighting its plans to “focus on managing the uncertainty in times of transformation so that the insurance and pensions sectors can continue to deliver value to policyholders and beneficiaries.” In a statement, the EIOPA laid down six strategic priorities on which to focus, which include sustainable finance, digital transformation, supervision, policy, risks to financial sustainability and governance. Under sustainable finance, the Authority stated it...

October 10, 2023
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10Oct

Nigeria. PenCom Disburses N10.2bn To 142,486 NSITF Scheme Contributors

The National Pension Commission (PenCom) has has transfered a total of N10.2 billion to 142,486 Retirement Savings Accounts (RSA) under the Organised Private Sector (OPS) of the Nigerian Social Insurance Trust Fund (NSITF) scheme to date. This was disclosed by the director-general of PenCom, Aisha Dahiru Umar, at a one-day interactive session with the OPS on the current developments and challenges in the implementation of the Pension Reform Act (PRA) 2014, which took place in Kano State, on Tuesday. “To date,...

October 10, 2023
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10Oct

U.K. investment managers see assets dip 12% in 2022

Assets managed by the U.K. investment management industry fell to £8.8 trillion ($10.61 trillion) at the end of 2022, a 12% decrease from the previous year, according to the Investment Association's annual Investment Management Survey. The survey released Oct. 10 attributed the drop to a broad-based market correction reflecting monetary policy changes, inflation, the Ukraine war and other global uncertainties. "The markets experienced an unusual correlation in the direction of travel for both global equities and bonds," the survey report...

October 10, 2023
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10Oct

US Corporate Pension Funding Rises Slightly in September

U.S. corporate pension funding status increased in September, despite a decline in equities. September’s funding status was a return to the norm, following an August that saw pension funding decline for the first time this year.  Insight Investment found that pension funding status improved by one percentage point in August, to 107.5% from 106.5%. Equity losses were offset by a roughly 40 bps increase in discount rates, causing liabilities to decline faster than assets. Assets decreased by 4.5% in September,...

October 10, 2023
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09Oct

US. New SEC Names Rule getting mixed reaction from industry

Opinions vary on the SEC's choice to expand the scope of its Names Rule — while some industry players feel the new rule will help prevent misleading fund names, others say it will be a disruption to the industry. According to SEC Chair Gary Gensler, the rule amendments "will help ensure that a fund's portfolio aligns with a fund's name. Such truth in advertising promotes fund integrity on behalf of fund investors," he said in a news release Sept. 20...

October 9, 2023
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09Oct

What’s wrong with private market valuations and why do UK pension funds care?

Britain's Financial Conduct Authority said last week a review of risks in markets for unlisted assets would check how valuations are being undertaken and whether any risks could spread into banking. WHY IS THE REGULATOR WORRIED? Stock markets and prices of government bonds have been hit by expectations of higher interest rates for a longer period than initially anticipated. Prices of private, unlisted assets have remained relatively high, raising questions about how valuations are conducted and if a reckoning is due. WHY...

October 9, 2023
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09Oct

Why we often struggle to pivot from saving to spending

Here's the retirement quandary for many Americans. They spend years building good financial habits so, if all goes well, they have sufficient funds by the end of their working years. Then, when it’s time to transition, they often struggle in the shift from saving to spending their nest egg. The no-stress years suddenly become the all-stress years. "It's disappointing to get to your first couple of years of retirement, and just constantly be stressed out about your income generation strategy from...

October 9, 2023
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09Oct

Kenya. Pension fund assets up Sh127bn on NSSF new rates

Pension fund assets rose by Sh127 billion in the first half of this year, boosted in part by the introduction of higher mandatory contributions to the National Social Security Fund (NSSF) and exchange gains on offshore investments. The 8.1 percent growth to Sh1.704 trillion was also boosted by new investments in Real Estate Investment Trusts (Reits), including the Sh6.92 billion Laptrust Imara Investment Reit (I-Reit) which was listed on the Nairobi Securities Exchange (NSE) in March. Read: Pension funds fail to...

October 9, 2023
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August 2023
18Aug

Bangladesh enters the era of universal pension

Bangladesh has launched a universal pension scheme to bring four types of citizens under a sustainable and organised social security system. “From now on, professionals from every economic stratum will receive pensions, which will eliminate social disparity,” said Prime Minister Sheikh Hasina, as she inaugurated the scheme on Thursday. Anyone aged over 18 years and not holding a government job will be eligible for the pension plan by paying a regular premium. Expatriates can also avail themselves of the service. The...

August 18, 2023
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July 2023
07Jul

Pensions for all. Proposals for more inclusive pension systems in Latin America.

Edited by David Tuesta y Gautam Bhardwaj One of the pending tasks in Latin America is the development of a pension system that is widely accessible, sufficient and financially sustainable over time. Beyond the different degrees of progress in each of the countries, they all face similar internal and global challenges. In particular, the problems of high informality of institutions and labor markets make the road even more uphill. The recent Covid19 pandemic scenario has highlighted the structural weaknesses of pension...

July 7, 2023
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