November 2023
15Nov

U.K. names new pensions minister

Paul Maynard was named U.K. pensions minister following a reshuffling of the government. Maynard was appointed Nov. 13 as parliamentary undersecretary of state at the Department for Work and Pensions, according to a notice on the government's website. Read also UK pension funds step in to build affordable homes His previous ministerial role was as parliamentary undersecretary of state at the Department for Transport, a role he held between July 2019 and February 2020. Maynard is member of parliament for Blackpool North and...

November 15, 2023
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15Nov

Kenya. Pension returns negative on falling share prices

Kenyan pension schemes have registered negative returns in the quarter ended September on wider losses from equities, a new survey shows. According to the Performance Investment Management Survey by South Africa-based investment firm RisCura, the weighted average return of surveyed schemes was posted at negative 3.06 percent in the quarter from a return of 0.18 percent in the previous quarter. The weighted average return from equities deteriorated to a loss of 10.95 percent from losses of 4.27 percent in the quarter...

November 15, 2023
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15Nov

US federal pension fund to exclude Hong Kong and China investments

The main US federal government pension fund is to exclude China- and Hong Kong-listed stocks on the recommendation of its adviser, which cited the rising tensions between the world’s two largest economies. The $771bn Federal Retirement Thrift Investment Board said on Wednesday that it would change the benchmark index followed by its international fund. The move will mean a shift away from an index that includes Hong Kong-listed equities. Washington has increasingly limited the range of Chinese companies available to US...

November 15, 2023
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14Nov

6 de cada 10 peruanos apoyan reforma de pensiones del gobierno

Luego de postergar por varios meses, el gobierno presentó su propuesta para una reforma integral del Sistema de Pensiones, el cual ya fue expuesto ante el Congreso, pero todavía no tiene fecha de debate. Ante ello, ¿qué esperan los peruanos de esta propuesta?, según una encuesta de Datum Internacional, el 64 % de peruanos quieren una reforma total de del Sistema de Pensiones y respaldan la propuesta del Ejecutivo. Si observamos por edades, el 71.5 % de personas entre 25 a 34 años...

November 14, 2023
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14Nov

Primer cambio en 20 años: esta es la nueva AFP con más afiliados en Chile

El debate previsional no cesa: por una parte, el Gobierno ha desplegado una campaña en el territorio que apunta a dar a conocer la reforma preparada; por otro lado, los fondos han registrado pérdidas, en su mayoría, en los últimos meses. Con todo, la Superintendencia de Pensiones dio a conocer aquellas Administradoras de Fondos de Pensiones (AFP) con mayor cantidad de afiliados contados hasta septiembre pasado. Consolidado De acuerdo a la información de la partición estatal, fue la AFP Modelo la que logró posicionarse como aquella con mayor cantidad de cotizantes, con 2.744.101 personas,...

November 14, 2023
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14Nov

Puerto Rico. UTIER convoca a protesta para defensa de pensiones

La Unión de Trabajadores de la Industria Eléctrica y Riego (UTIER) anunció el lunes una manifestación frente al Tribunal Federal de Hato Rey para proteger las pensiones frente a la Junta de Control Fiscal. “Es el momento de elevar nuestra voz para proteger nuestras pensiones y rechazar cualquier intento de incrementar injustamente los costos de energía”, manifestó Josué Mitja, presidente de la UTIER. La manifestación está programada para el martes 14 a las 10 de la mañana. La convocatoria se une...

November 14, 2023
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14Nov

US Corporate Pension Funding Status Keeps Climbing

The funding status of U.S. corporate pension plans increased in October, largely due to a reduction in liabilities stemming from an increase in discount rates, which were offset by negative investment returns. According to some trackers, pension funding status is at its highest point in decades. Funding Status Increases Fueled by High Interest Rates According to WTW’s pension finance tracker, U.S. corporate pension funding is at its highest level since mid-2001, with the funding ratio of WTW’s benchmark plan increasing 1.1...

November 14, 2023
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14Nov

Malaysia. Pension system needs upgrading as nation heads towards ‘super-aged society’

MALAYSIA is undergoing a significant demographic shift towards an ageing population.  The World Bank has projected that with 14% of the population aged 65 and above by 2044, it will officially be an “aged society”. By 2056, Malaysia is expected to become a “super-aged society”, with over 20% of its population in that category.  While this brings challenges in areas such as employment, income security and aged care, the shift also presents economic opportunities, particularly in the field of aged care services.  Meanwhile,...

November 14, 2023
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14Nov

Ghana. GMA demands retirement salary for members, improved conditions of service

The Ghana Medical Association (GMA) is demanding that government put in place measures that will ensure all of its members continue to receive a salary even after retiring. The President of the Association, Dr. Frank Serebour tabled the demand at the 65th General Meeting of the Association on Monday, November 13. In his address, Dr. Frank Serebour said the conditions of service of doctors must also be improved. “We need to be protected from workplace hazards, we need to be given accessible...

November 14, 2023
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14Nov

Austrian pension funds to lose 7.5% in asset value due to climate risks

The value of assets in the portfolios of Austrian pension funds would decrease by approximately 7.5% in the event of an unexpected increase of the price of CO2 emissions through additional taxes to make fossil fuel investments less attractive, according to a stress test conducted this year by the by Austria’s Financial Market Authority (FMA). This is an improvement from last year’s test showing a 10% loss in asset value. Read also German government drafts law to reform second pillar pension system This year’s...

November 14, 2023
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