February 2024
28Feb

US. People want pension plans, worry about retirement security – NIRS

National anxiety about retirement security continues to grow, and the vast majority of Americas believe all workers should have a pension plan, according to a new report from the National Institute for Retirement Security. According to the report, 79% of respondents to a national public opinion poll of working-age Americans believe that the nation faces a retirement crisis, up from 67% that expressed that sentiment in 2020, the last time NIRS conducted such a poll. Also, 83% of respondents said they...

February 28, 2024
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28Feb

Govt urged to consider new measures to attract pension investment in the UK

The Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) have called on the government to consider taking further action in four key areas to attract greater pension investment in UK growth. The associations stated that whilst progress on increasing pension investment in UK growth had been good, more needs to be done, identifying four key measures that could help improve growth. The government was urged to consider ensuring better adequacy in defined contribution (DC) pensions and...

February 28, 2024
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28Feb

EU. Sustainability and greenwashing in insurance – EIOPA publishes draft Opinion

Insurance consumers and pensions savers are increasingly interested in allocating their money to sustainability related products. So insurance and pensions providers are expanding their sustainable offerings and adapting their business models to be more sustainable. While the growth of environmental, social, and governance (ESG) investing can contribute to the transition to a more sustainable economy, greenwashing risk exists. Greenwashing is the practice of misrepresenting sustainability-related features of investment products. The issue has received renewed attention at European level, with EIOPA recently...

February 28, 2024
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28Feb

US. NYC Pensions Are Sued for Shedding Fossil Fuels

Monica Weiss attended her first fossil-fuel divestment protest on a frigid February day in 2015. She joined college students, financial experts, faith leaders, and then-New York City Public Advocate Letitia James in front of the New York Stock Exchange to demand that the city’s five public pension funds factor the financial risks of climate change into their investment decisions. Over the course of her two-decade career teaching first and third grade in New York City public schools, Weiss infused nature...

February 28, 2024
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28Feb

UK: Cyber Risks To Pension Schemes In 2024 – What’s My Plan?

2023 saw the first major cyber-attack of a large pension administrator in the UK. Its impact was felt across the industry, from those pension schemes directly affected and who incurred significant governance time and cost to take steps to contain the risk to members' benefits and sensitive information, to those pension schemes not directly impacted however, who were encouraged to review and strengthen their approach to cyber education and defences. As a result, cyber risk is now being recognised as...

February 28, 2024
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27Feb

Las 10 Afores que operan en México administran más del 20% del PIB y estos son algunos números que debes conocer.

El Sistema de Ahorro para el Retiro (SAR), que es el dinero que administran las Afores, alcanzó en enero pasado los 6.02 billones de pesos, lo que representa 24% del PIB o 66% del gasto que el gobierno tiene programado para este 2024. Los recursos que se administran hasta enero de este año son 115% superiores a los que se operaban en 2017, de acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). En enero...

February 27, 2024
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27Feb

¿Qué va a pasar con la economía española tras la reforma de las pensiones?

Por Laura Castillo Tras años trabajando, los españoles buscan llegar a la vejez con una pensión que les permita poder disfrutar de la jubilación. Para ello, son muchos los que se suscriben a un plan de pensiones. Pero incluso, los hay quienes lo tienen y se plantean si pueden retirar el dinero, antes de la fecha estipulada, es decir, la de la jubilación. Pues algunos quieren usar el dinero para tapar un agujero, darse un capricho o invertirlo en un sueño. Y ahora, con la modificación de...

February 27, 2024
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27Feb

Urgent Action Needed Amidst U.S. State Pension Debt Crisis

By Howie Jones   The United States is grappling with a severe state pension debt crisis, with a whopping $1.49 trillion in unfunded obligations causing significant economic strain. Areas like San Jose are particularly affected, facing a staggering unpaid debt of $3.5 billion, potentially leading to a tax burden of around $3,600 per resident. This crisis could drastically impact the public sector, potentially decreasing the quality and availability of public services. San Jose’s Odd Fellows society recently held a community improvement forum...

February 27, 2024
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27Feb

Does aging society mean economic slowdown in China?

As China is busy preparing for the annual two sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC), some Western media have been enthusiastically hyping that the Chinese economy is collapsing. Is the Chinese economy going to fail? What opportunities have China's growth brought to the world? China Economy from a Global Perspective is a 10-part series analyzing the above questions. The fifth essay focuses on China's population growth. Wang Dan is chief...

February 27, 2024
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27Feb

Ireland. The Two Main Reasons People Don’t Have A Pension

More than two-thirds of workers have some form of pension coverage outside of the State pension, the Central Statistics Office (CSO) has said. Of the 68% of workers aged 20-69 with additional pension coverage, 70% have an occupational pension, 10% have a personal pension and 20% have both, including 22% of men and 19% of women. For employees with occupational pensions from their current employment, the number with 'defined benefit' pensions decreased in 2023 from 32% to 30% while the number with 'defined...

February 27, 2024
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