editor, Author at Pension Policy International

23AugAugust 23, 2023

UN pension fund flags climate risk on ALM and performance

In a nod to headwinds including climate change, evolving demographics, and the future economic outlook the $85.5 billion United Nations Joint Staff Pension Fund, UNJSPF, will use a slightly lower real rate of return on investments to inform its upcoming actuarial valuation. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. Under a baseline scenario based on moderate...

August 23, 2023

NewsClimate crisis, Investment, Pension Management

23AugAugust 23, 2023

US. CalPERS CIO Nicole Musicco says pension fund taking cautious approach to China

The California Public Employees' Retirement System is being cautious in its approach to China because of the political blowback it could face for betting on a geopolitical rival of the U.S., according to Chief Investment Officer Nicole Musicco. "We're being mindful about our exposure in China right now," Ms. Musicco said during an episode of "Bloomberg Wealth with David Rubenstein" — and she added that the pension fund giant is taking pains to "avoid having any big losses if we...

August 23, 2023

NewsChina, Investment, US

23AugAugust 23, 2023

Japan records its second-worst income disparity as society ages

Japan’s income inequality hit its second-worst level on record, according to a labor ministry survey conducted in 2021. The Gini coefficient--an index that measures income inequality on a scale ranging between 0 and 1--rose to 0.5700 based on initial income, or before distribution through taxation and social security, according to the Income Redistribution Survey released on Aug. 22. The coefficient, calculated based on income data from 2020, increased from 0.5594 in the previous survey in 2017. A 2014 survey saw the highest...

August 23, 2023

NewsAging, Income, Japan

22AugAugust 22, 2023

México. Afores siguen ganando: logran aumentar utilidades en 123.1%

Pese a la incertidumbre que aún se vive en los mercados financieros por la alta inflación y la situación geopolítica a nivel mundial, las Administradoras de fondos para el retiro (Afore) lograron aumentar sus ganancias en más de 100 por ciento al cierre de julio. De acuerdo con los estados financieros que publica la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), las 10 Afores que administran más de 73.4 millones de cuentas de trabajadores que ahorran para...

August 22, 2023

NoticiasAdministración de Pensiones, Mexico

22AugAugust 22, 2023

Mejorando la perspectiva de las pensiones en Chile: desafío en la tasa de cotización

El sistema de pensiones chileno se encuentra en un momento crítico de revaluación, considerando los objetivos primordiales establecidos por la OCDE. Estos objetivos buscan asegurar que las pensiones proporcionen un nivel de vida digno, sean equitativas y ofrezcan un ingreso de reemplazo cercano a los ingresos obtenidos durante la vida laboral. Sin embargo, se ha identificado un desajuste en la tasa de cotización, un elemento esencial para alcanzar estos propósitos. En la actualidad, la tasa de cotización en Chile se...

August 22, 2023

NoticiasChile, Reforma de Pensiones

22AugAugust 22, 2023

US. ‘Staggering’ Number of Adults Don’t Know How Long Retirements Last

They found that less than 40% of adults correctly identified the average lifespan at retirement age. “Longevity literacy is particularly important since retirement income security inherently involves planning, saving, and preparing for a period that is uncertain in length,” Surya Kolluri, head of the TIAA Institute, said in a statement. “Our research clearly demonstrates a lack of longevity literacy among the vast majority of U.S. adults. Improving this can promote better retirement security and mitigate longevity risk.” The researchers said there...

August 22, 2023

NewsFinancial Literacy, Retirement Planning, US

22AugAugust 22, 2023

ESG investing by pension funds in Africa is not a demand problem

Africa’s value tomorrow will be, in large part, determined by what is preserved today. The investment world is locked in a raging debate around “values vs value” in financial returns consideration. Opponents of ESG investing approaches believe that it is primarily the role of governments to fight climate change. Their responsibility, they contend, is to maximize shareholder returns, climate concerns notwithstanding. After all, government taxes them. The missing link in this argument is optimization. Portfolio optimization, the objective of...

August 22, 2023

NewsAfrica, ESG, Investment

22AugAugust 22, 2023

UK. PLSA: Can low earners be safely auto-enrolled in workplace pensions?

In the realm of pensions policy, there exists a significant knowledge gap when it comes to understanding and addressing the needs of low earners. While various segments of the population have been subject to extensive research, individuals with low incomes who are still engaged in employment have remained relatively understudied. The PLSA commissioned the Pensions Policy Institute (PPI) to evaluate the issue of low earners and whether AE could provide a way of improving their retirement outcomes. The subsequent report -...

August 22, 2023

NewsIncome, Pension design, UK

22AugAugust 22, 2023

South Africa. Women struggle to retire as early or as securely as men

Longevity literacy is critical to help women live confidently and securely when it comes to their wind-down years. South Africa’s gender pension gap sits at 26%, reflecting the average difference in retirement income between men and women. Farzana Botha, segment manager at Sanlam Risk and Savings, said that often, women cannot afford to retire as early or as comfortably as men. She believes that turning this around should be a national imperative. Botha said: “A multitude of factors contribute to...

August 22, 2023

NewsAdequacy, Gender Gap, South Africa

21AugAugust 21, 2023

México. Veracruz, entre las entidades con mayor número de cuentas de ahorro para el retiro

Veracruz se ubica entre las cuatro entidades con mayor número de cuentas de ahorro para el retiro. Solo lo superan el Estado de México, Ciudad de México y Jalisco. Lo anterior, de acuerdo a los datos del estudio “Panorama Anual de Inclusión Financiera 2022”, que elabora la CNBV con el apoyo de información complementaria de la Comisión Nacional de Seguros y Fianzas (CNSF), la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef) y la Comisión Nacional del...

August 21, 2023

NoticiasInclusión Financiera, Mexico

August 2023