editor, Author at Pension Policy International

26JulJuly 26, 2023

Australia’s $2.5 trln pension stash is one to envy

Ask Hong Kong-based financial bigwigs where they have been jetting off to since the Asian hub lifted its coronavirus restrictions and a surprising number say Melbourne. Sure, mining giant BHP (BHP.AX) has its headquarters in Australia’s second-most populous city, it’s a self-anointed coffee capital and boasts top-notch restaurants. It is also home to some of the country’s largest pension funds. They have plenty of capital to deploy, are too big for their home market and they’re getting larger fast. Superannuation,...

July 26, 2023

NewsAustralia

26JulJuly 26, 2023

Agusto: Nigeria’s pension assets to rise to N19trn by end of 2024

Agusto & Co, a Pan-African credit rating agency, projects that Nigeria’s total pension assets will rise to an impressive N19 trillion by the end of 2024. The agency’s projection is contained in its recently released report titled ‘The Nigerian Pension Industry – Unlocking Potential Amidst Economic Uncertainties’. Agusto said Nigeria has the second-largest pension industry in Africa with assets under management (AuM) of N16.1 trillion ($34.9 billion) as at May 31, 2023, representing a 13.5 percent increase from the corresponding period...

July 26, 2023

NewsNigeria

26JulJuly 26, 2023

Houston Police Officers reports 7% return for fiscal year

Houston Police Officers' Pension System posted a preliminary net return of 7% for the fiscal year ended June 30. The $7.1 billion pension fund's return fell short of the benchmark return of 7.3% for the period, according to an investment update on its website. Annualized returns for the three, five and 10 years ended June 30 were not provided. The pension fund had posted a net loss of 1.3% for the fiscal year ended June 30, 2022. The latest fiscal year's improvement over...

July 26, 2023

NewsUS

25JulJuly 25, 2023

México. Hay 200,000 millones de pesos olvidados en afores; superan monto de ahorro voluntario

Dentro del Sistema del Ahorro para el Retiro (SAR), el monto de las 18 millones de cuentas no reconocidas –también llamadas asignadas– por los trabajadores es de 200,000 millones de pesos, de acuerdo con información de la Asociación Mexicana de Afores (Amafore). Si bien representa sólo 4% de los más de 5.56 billones de pesos del SAR, es mayor a los 182,493 millones de pesos que pertenecen al rubro de Ahorro Voluntario y Solidario, con corte a junio. Los trabajadores que...

July 25, 2023

NoticiasMexico

25JulJuly 25, 2023

Chile. Gobierno no renovará suma urgencia en discusión de reforma a las pensiones

La decisión tiene el objetivo de dar espacio a un acuerdo político amplio, en el contexto del desarrollo de la mesa técnica a la que ha convocado el Gobierno y en la que participan parlamentarios y partidos políticos a través de sus técnicos El Ministerio del Trabajo y Previsión Social informó que el Gobierno decidió no renovar, transitoriamente, la suma urgencia en la discusión del proyecto que reforma el sistema previsional. Esto, en atención al diálogo que ha mostrado parte importante...

July 25, 2023

NoticiasChile

25JulJuly 25, 2023

Public Pension Funds Continue to Boost Alts Allocations in Search of Higher Returns

Public pension funds have more money in alternative investments than at any point in history, according to a report from the Equable Institute, which warns that “pension funds are addicted to risk.” The nonprofit organization’s State of Pensions 2023 report identified that the risk profiles of U.S. state and local pension funds have changed significantly in recent years, with pension fund alts allocations ballooning to more than $1.6 trillion in 2022 from approximately $100 billion in 2001. Although the authors of the Equable...

July 25, 2023

NewsUS

25JulJuly 25, 2023

UK. Pensions transfer scams on the increase

Between April and June, 1685 pension scam assessments were completed using helpandadvice.co.uk's MoneyHelper flagged scam predictor tool. A quarter of those approached were asked to make a quick decision on whether to transfer, up significantly from 15 per cent in the previous quarter. The average scam likelihood score was 23 per cent, meaning that of the 1685 people that completed the assessment, almost a quarter of cases had associated red flags, a red flag means further investigation is needed. Having tracked the data for over...

July 25, 2023

NewsPensions transfer, scams

25JulJuly 25, 2023

Over half of people in Hong Kong expect to Work after Retirement, with One-Third citing Lack of Money

Reasons vary among the different generations, households, and genders – from family obligations, desired lifestyles, and financial status, reflecting the diverse nature of people’s thinking about retirement. The findings are part of Manulife Investment Management's Diverse Asia retirement series, which looks at the challenges and opportunities facing Asia’s ageing populations and how they are woven into the demographic profiles and socioeconomic foundations in the region. For Gen Z, Gen X and Baby boomers, their primary reasons for working after retirement are for their...

July 25, 2023

NewsHong Kong

25JulJuly 25, 2023

Wall Street’s hottest ticket is these Australian funds

Morgan Stanley chief James Gorman has been tapping his Australian roots to access one of the world’s fastest-growing corners of global capital. The bank’s Melbourne-born boss is one of a string of executives from Wall Street and beyond doing more business with the largest players in Australia’s $3.5 trillion superannuation sector. The big attraction: inflows of more than $1 billion a week that need to find an investment destination. As the guardians of the country’s retirement savings outgrow their own backyard, they’re partnering...

July 25, 2023

NewsAustralia, US

25JulJuly 25, 2023

Pillar III pension funds inhibited by restrictive deductibility and double taxation in Romania

The weighted rate of return for all medium-risk voluntary funds (Pillar III) was only 4% compared to 5.5% for the mandatory funds (Pillar II), calculated by the financial supervision authority ASF at the end of June. The differential in favour of Pillar II was constant at 1.5pp over the past seven months and 3.9pp in the three months before that. The more intuitive annual increase of the value of the fund unit shows a similar pattern and wider discrepancy: 8.9%-10.9%...

July 25, 2023

NewsRumanía

July 2023