June 2019

04Jun

UK. Pensions must do right thing on climate crisis, says minister

Pension schemes should be supported for moving people’s money out of fossil fuels and into renewables because the financial risks from the climate crisis are “too important to ignore”, a government minister will say on Monday. The pensions minister, Guy Opperman, is due to tell a conference that pension and investment managers must “do the right thing” and take their environmental and social responsibilities seriously to help combat the climate emergency. During the last few years a number of...

June 4, 2019
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04Jun

Kenya. Devolved pensions owed Sh24bn dues on key date

The pension industry Monday kicked off the 90th anniversary celebrations for the local authorities’ schemes (LapTrust) reeling from Sh24 billion dues unremitted by the counties. County Pension Fund chief executive Hosea Kili said if paid, pension schemes will partner with the government under a private-public arrangement for implementation of the low-cost housing schemes in major urban centres. “This is an opportunity for Kenyan workers to contribute towards development of their country by using pension funds to build low-cost houses...

June 4, 2019
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04Jun

How Much Does It Cost To Update Pensions In Spain In Line With Inflation?

One of the most controversial aspects of the 2013 reform of the Spanish system of public pensions has been the introduction of a revaluation index (the so-called IRP) which linked the updating of pensions, once triggered, to the financial situation of Social Security, thus abandoning the traditional reference to inflation measured by the consumer price index (CPI). Given the measure´s unpopularity, once inflation recovered after the crisis, it did not take long for it to be provisionally suspended. Currently,...

June 4, 2019
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04Jun

UK. Minister’s ‘pension for homes’ idea sparks government row

James Brokenshire said people who had saved into occupational pensions should be free to spend the proceeds when they wished on their first home. He said using it on a deposit could be a "genuine route" to home ownership. But it is understood the Department of Work and Pensions (DWP) has complained to No 10 about the proposal. A departmental source said it could not support the idea "because the evidence shows it will be risky and does not...

June 4, 2019
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03Jun

Chile. Ministro Blumel y acuerdo por pensiones: “No van a participar las AFP” en el 4%

El ministro de la Segpres, Gonzalo Blumel, aseguró en Mesa Central que "este es un Gobierno serio y va a cumplir los acuerdos que propone", en relación a las definiciones que se acordaron en el proyecto de la reforma de pensiones. Una de las polémicas de la Cuenta Pública estuvo relacionada con las pensiones, luego que el Presidente asegurara que el 4% adicional "le pertenece a nuestros trabajadores, y por tanto nadie puede meter la mano y pretender...

June 3, 2019
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03Jun

Gobierno de AMLO anuncia aumento para pensionados

A seis meses de haber tomado el poder como presidente de México, Andrés Manuel López Obrador ha dado buenas noticias para los mexicanos, por lo que en esta ocasión, el gobierno federal anunció que la taza de reemplazo que reciben los pensionados, es decir, el porcentaje que reciben de su último sueldo podría aumentar. La Comisión Nacional del Sistema de Ahorro para el Retiro ha anunciado que la taza de reemplazo podría aumentar el próximo año, es decir...

June 3, 2019
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03Jun

UK. Plea over Scottish Parliament’s fossil fuel pensions

Holyrood politicians are campaigning for their pensions to come from "ethical investments" rather than fossil fuel companies. The MSP pension fund currently invests at least £1m in oil, gas and coal companies, according to Friends and Earth Scotland. Now a cross-party group of MSPs have spoken out on the issue ahead of a meeting of their pension fund trustees. A parliament spokesman said they were reviewing their investment strategy. The move comes after First Minister Nicola Sturgeon declared a...

June 3, 2019
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03Jun

South Africa. Key Union Tells Eskom’s Top Bondholder to Sell Its Holdings

The labor union whose members contribute most to the funds overseen by South Africa’s state pension manager wants the institution to stop investing in the debt of Eskom Holdings SOC Ltd., potentially increasing funding pressure on the heavily indebted utility. The 240,000-strong Public Servants Association said by buying Eskom’s bonds the Public Investment Corp. is exposing pensioners to excessive risk as the state-owned power company is not selling enough electricity to cover its costs and has had to be...

June 3, 2019
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03Jun

Pension fund AustralianSuper to open NY office, hire in London in offshore push

AustralianSuper, the country’s largest pension fund, plans to open an office in New York next year and expand its operations in London as part of a strategy to invest in and directly manage more offshore assets, Chief Executive Officer Ian Silk said. The fund, projected to reach A$300 billion ($207.72 billion) in assets in five years, is forecast to increase its allocation to overseas investments from about half to about 60% by 2024, Silk said at a business lunch...

June 3, 2019
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May 2019

31May

Ensuring Retirement Security with Simple GLIDeS

By Adam Kobor, Arun Muralidhar There is a growing retirement crisis and most of the focus has been on the fact that individuals are not saving enough for retirement, may not have access to pension schemes, or are financially illiterate. More critically, assets/financial products available to investors, may not be appropriate for the typical individual saving for retirement. The goal of retirement is to try to guarantee a target level of income ideally from retirement till death. Current glide...

May 31, 2019
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