October 2020

02Oct

Canadian investors acknowledge systemic racism, pledge action

A group of 31 Canadian institutional investors representing $2.3 trillion in assets has signed a joint statement acknowledging systemic racism against black and indigenous populations and pledging to take steps to integrate diversity and inclusion into their investment processes. Read also Canada’s pension fund plans to invest a third of funds in emerging markets by 2025. India is a major component The Canadian Investor Statement on Diversity & Inclusion has been signed by Canadian pension plans and money managers including...

October 2, 2020
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02Oct

US. Do Politics Belong in Retirement Planning?

In a sharply polarized environment, Americans saving for retirement are increasingly concerned about politics — those of their financial advisers. “I’ll get a phone call from one client thinking the world is falling apart, and then another thinking it’s the best time to get into the market — in the same day,” said Robert Schmansky, founder of Clear Financial Advisors in Livonia, Mich. It has been a year of tumult, because of not only the pandemic but also protests...

October 2, 2020
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02Oct

UK. PensionBee and Plaid team up to call for ‘open pensions’

The two fintechs are calling on the FCA to speed up the introduction of Open Finance to help people view their pensions all in one place. Digital pension provider PensionBee and financial API provider Plaid have joined forces to push for an open finance standard within the pension industry. In a report published by the pair yesterday, Plaid and PensionBee are calling for ‘open pensions’ to be made standard, something which they claim will “improve financial decisions”...

October 2, 2020
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02Oct

IMF says Spain will not return to pre-pandemic levels of activity until 2023

The International Monetary Fund (IMF) has published its conclusions following the review of Spain's economy under Article IV that governs member states. The team led by Andrea Schaechter, head of the mission for Spain, projects an annual loss of real GDP production of 12.8% in 2020, unchanged when compared with what was already estimated at the end of June. "Spain has suffered the deepest blow in advanced economies," Schaechter acknowledged at her press conference. "It will take years...

October 2, 2020
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01Oct

UK. Warning sounded as 42% of pensions raided at ‘unsustainable’ levels

Savers have been warned they could face trouble in the future as the regulator found 42 per cent were taking more than 8 per cent from their pensions each year. Read also UK. PensionBee and Plaid team up to call for ‘open pensions’ Latest data on the retirement income market from the Financial Conduct Authority, published yesterday (September 29), found savers with smaller pension pots, typically worth between £10,000 and £100,000, were particularly susceptible to high withdrawal rates. Read also...

October 1, 2020
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01Oct

US. Trump Plan Would Restrict Retirement Plans from Sustainable Investments: Viewpoint

Interest in sustainable investing is soaring, as more people become convinced that making a positive impact can be profitable as well as good for the planet and society. Unfortunately, the Labor Department doesn’t think these investments belong in your 401(k). In June, the federal regulator proposed a rule that would restrict workplace retirement plans from investments that include environmental, social and governance considerations. Popularly known as ESG or socially responsible investing, this approach considers the sustainability of a company’s...

October 1, 2020
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01Oct

EIOPA sets up its key priorities in the light of the pandemic

The European Insurance and Occupational Pensions Authority (EIOPA) has set out its priorities for 2021-2023 taking into account the current market situation in the light of the COVID-19 pandemic, as well as the political priorities defined by the European Commission. COVID-19 crisis management, risk mitigation and active support to the recovery of the European economy will be the main focus for the future. Consumer protection will remain a key strategic priority in light of increasing risks emerging from the...

October 1, 2020
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01Oct

Income is a Primary Concern for Retirees

As life expectancy increases it’s only going to become more difficult for Americans to pay for their retirement. When 401(k) plans emerged 40 years ago, not much thought was given to how workers would use the money they accumulated. It has only been fairly recently that the concept of “retirement income” has taken shape, mostly in response to workers expressing deep concerns about what their futures might look like. This report looks at new ways to address retirement income...

October 1, 2020
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September 2020

30Sep

Mobilizing Private Finance for Nature

By Benoit Blarel, Giovanni Ruta, Olga Gavryliuk, Pauline Poisson, Fiona Stewart, Samantha Power, Benjamin Guillon, Irina Likhachova & Lisa Choux (The world Bank Group) Biodiversity and ecosystem services, or nature for short, underpin many aspects of economic activity and are deteriorating at an unprecedented level, with potentially far-reaching implications for economies worldwide. Sustained ecosystem damage can trigger regime shifts and generate systemic impacts on human well-being and economies. For example, the degradation of natural ecosystems has been associated with an increase in the probability...

September 30, 2020
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30Sep

Iceland’s pension funds sign sustainable investment declaration

Pension funds in Iceland have indicated their collective commitment to promoting sustainable development through investments, joining major players in the country’s financial sector by signing a letter of intent – alongside Prime Minister Katrín Jakobsdóttir. Read also EIOPA sets up its key priorities in the light of the pandemic In the open letter signed last week, a range of pension funds and banks declared that capital was an important driving force in shaping the economy and society as a whole,...

September 30, 2020
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