admin, Author at Pension Policy International

29DecDecember 29, 2022

U.K. Investors must innovate to stay ahead of FCA’s SDR proposal

The FCA’s new sustainability disclosure requirements may prove to be a defining moment for financial services, the chief project officer at the Global Returns Project has said. Jack Chellman told FTAdviser the FCA’s rules, which are currently being consulted on, cannot come soon enough. “Investors are increasingly concerned about greenwashing,” he said. “Looking ahead to 2023, asset managers must embrace innovative approaches to demonstrate their sustainability credentials if they are to satisfy their clients and rise to the challenge of constructing attractive, competitive...

December 29, 2022

NewsESG, Investment, Regulation, UK

29DecDecember 29, 2022

India. PFRDA proposes bringing gig workers into pension fold

India's pension fund regulator has recommended the federal government introduce a UK-like pension scheme for the country's gig workers, a move aimed at bringing about 90% of the overall workforce into the pension fold, its chairman told Reuters. The Pension Fund Regulatory and Development Authority (PFRDA), which manages over $102 billion in assets, has proposed that workers at food and cab aggregators be automatically enrolled into the National Pension Scheme (NPS), Chairman Supratim Bandyopadhyay said in an interview on Tuesday. The...

December 29, 2022

NewsIndia, Informal Sector, Pension design, Regulation

29DecDecember 29, 2022

U.S. New York Raises Cap on Pensions’ Private Equity, Hedge Fund Assets

New York Governor Kathy Hochul signed a bill on Friday that allows the state’s and New York City’s pensions to increase allocations to more expensive and opaque asset classes like private equity that could potentially deliver higher returns. The bill raises the cap on alternative assets — which also include hedge funds, private real estate and direct loans to companies — as well as foreign stocks, to 35% from 25%. Boosting the limit will allow pensions, including the $233 billion...

December 29, 2022

NewsInvestment, Regulation, US

28DecDecember 28, 2022

South Korea. Population Declines for 36th Month due to Low Births

The country's population declined for three consecutive years due to a combination of plunging birth rate, society’s accelerated aging and the COVID-19 pandemic. According to data from Statistics Korea on Wednesday, there were 20-thousand-658 newborns in October, down zero-point-four percent from a year earlier. The on-year gain was the lowest for October since the agency began compiling related data in 1981. The tally for newborns has seen an on-year decline for 83 straight months since December 2015. The number of deaths in...

December 28, 2022

NewsAging, Labor Market, South Korea

28DecDecember 28, 2022

A long-term illness crisis is threatening the UK economy

Along with sky-high inflation and energy costs, a Brexit-related trade tailspin and a recession in progress, the U.K. economy is being hammered by record numbers of workers reporting long-term sickness. The Office for National Statistics reported that between June and August 2022, around 2.5 million people cited long-term sickness as the main reason for economic inactivity, an increase of around half a million since 2019. The number of “economically inactive” people — those neither working nor looking for a job —...

December 28, 2022

NewsHealth, Healthcare, Labor Market, UK

28DecDecember 28, 2022

U.S. New retirement account rules make it easier to tap savings early for emergencies

It will soon be easier for cash-strapped Americans to tap their retirement savings for emergency expenses. President Joe Biden is poised to sign a $1.7 trillion bill that amends rules related to so-called hardship distributions from 401(k) plans. The measures are tucked into “Secure 2.0,” a collection of retirement reforms attached to the overall legislative package, which will fund the federal government for the rest of the fiscal year through next September. The House and Senate passed the bill last week. Current...

December 28, 2022

NewsPension design, Regulation, US

27DecDecember 27, 2022

¿Por qué las AFP tienen más cotizantes y Colpensiones más pensionados?

La reciente declaración del presidente de Colpensiones, Jaime Dussán, ha generado confusión sobre el futuro del sistema pensional colombiano. De hecho, una de las afirmaciones más polémicas fue que “los fondos privados de pensiones reciben ahorros, pero no pensionan”. Y aunque esta declaración ha sido desmentida por varios analistas, sí hay una realidad: la mayor parte de los pensionados en Colombia están en Colpensiones. Las razones El sistema pensional colombiano está compuesto por dos regímenes de pensión: el Régimen de Ahorro Individual...

December 27, 2022

Noticias, NoticiasCobertura, Colombia, Diseño de Pensiones, Suficiencia

27DecDecember 27, 2022

Inflation, war, rising interest rates posed steep challenges for investors in 2022

An inflationary environment that is anything but transitory, the volatility arising from Russia's invasion of Ukraine and other geopolitical crises, and a bevy of controversies surrounding ESG investing dominated headlines this year, while the fall of Allianz Global Investors and an exceptionally busy regulatory year were also among Pensions & Investments' top 10 stories of 2022. The top story this year was inflation and the Federal Reserve's aggressive actions to curb it through multiple interest rate hikes. After more than...

December 27, 2022

NewsInflation, Investment, Pension Management, UK, US

27DecDecember 27, 2022

UAE’s Pension Authority raises awareness on incorrect contribution practices

Private sector entities that do not pay monthly contributions or provide incorrect data for their Emirati employees risk incurring additional penalties and, under certain conditions, imprisonment,' as per the federal pension and social security law. At the end of its campaign to educate insured Emiratis and the entities in which they are employed about an insured’s rights and duties in accordance to the NAFIS programme, the General Pension and Social Security Authority (GPSSA) stated that charging an insured person with...

December 27, 2022

NewsRegulation, savings, System Characterization, UAE

27DecDecember 27, 2022

Germany. Companies Introduce Social Partner Model For Pensions

At first glance, the interest is extremely low: Of the 1,900 companies that the Federal Chemical Employers’ Association (BAVC) wrote to, only 50 had decided in favor of the new “Nahles pension” by the beginning of December. A rate of 2.6 percent. Nevertheless, Klaus-Peter Stiller, general manager of the association, is anything but disappointed. After all, the companies currently have other concerns in the energy crisis than adjusting their pension systems. “In this respect, the 50 companies that have...

December 27, 2022

NewsGermany, Occupational Pensions, Pension design

December 2022