editor, Author at Pension Policy International

05JunJune 5, 2023

How the FCA’s new Consumer Duty impacts UK pension scheme buy-outs

Pension scheme trustees considering a buy-out are likely to welcome this, because the Duty will require the insurer to use its influence to deliver good outcomes for the members in relation to the policies. This will further strengthen the regulatory regime that applies to insurers and the protection it offers to bought out members. How the Consumer Duty will apply to pension schemes In July 2022, the FCA published its rules for a new Consumer Duty that will apply to FCA-regulated...

June 5, 2023

NewsPension Management, Regulation, Risk, UK

05JunJune 5, 2023

Green and sustainable investing: why asset managers need clear ESG definitions to aid fund sales, quash greenwashing

A lack of globally consistent and clear definitions of what “green” and “sustainable” actually mean when it comes to projects and investment products has imposed extra burdens on asset managers struggling to meet compliance requirements, according to Fidelity’s head of sustainable investing. Insufficient regulation of environment, social and governance (ESG) data and ratings providers also heightens concerns about greenwashing, the act of making unsubstantiated sustainability claims. “If you are selling a fund as a green fund, that means very different things...

June 5, 2023

NewsESG, Investment

05JunJune 5, 2023

Elderly Outnumber 20-Somethings in Korea’s Workforce

For the first time ever senior citizens outnumber 20-somethings in Korea's workforce after decades of low birthrates and an aging society.According to Statistics Korea, 3.38 million people over 60 were employed in the fourth quarter of last year, up 284,000 from the same period of 2021. But only 3.22 million Koreans in their 20s were employed, down by 36,000 over the same period.It was the first time in seven quarters that the number of young workers declined.That brought the...

June 5, 2023

NewsAging, Labor Market, South Korea

02JunJune 2, 2023

España. La escalada de las pensiones: casi 60.000 millones hasta mayo

Me preguntaba el otro día un catedrático de Economía de la Rey Juan Carlos que cuáles eran los riesgos que tenía en estos momentos la economía española, según mi opinión. Le contesté que el principal riesgo que corre hoy España se llama deuda soberana. España ha entrado en una vorágine de aumento de deuda trimestral muy difícil de seguir sosteniendo, pero mientras el BCE, indirectamente, la aguante, no tendremos problemas. Pero en cualquier momento esto puede darse la vuelta y...

June 2, 2023

NoticiasEspaña, Sostenibilidad

02JunJune 2, 2023

Los efectos de las pensiones sociales en la mortalidad de personas vulnerables

José Valderrama, investigador y profesor de la Carrera de Economía de la Universidad de Lima, fue el ponente de una nueva edición virtual del ciclo “Acercándonos a la publicación”. Él presentó los objetivos y los hallazgos del artículo científico The effects of social pensions on mortality among the extreme poor elderly, desarrollado por nuestro docente y por el investigador Javier Olivera. El paper fue publicado por el Luxembourg Institute of Socio-Economic Research (Liser). El expositor indicó que el artículo tiene...

June 2, 2023

NoticiasLongevidad, Perú, Protección Social

02JunJune 2, 2023

La Organización Internacional del Trabajo pide aumentar las pensiones en países en desarrollo para reducir la pobreza

A nivel mundial, el 77% de los ancianos reciben una pensión. Pero en los países de ingresos bajos solo lo hacen el 23%, y en los países de ingresos medios, el 40%, mientras que en aquellos de ingresos altos el porcentaje es del 98%. Es la razón por la que la Organización Internacional del Trabajo ha recordado este jueves la necesidad de crear pensiones y de subirlas en los países en desarrollo, insistiendo en que la evidencia muestra que...

June 2, 2023

NoticiasIngreso, Protección Social

02JunJune 2, 2023

US. Senate passes debt ceiling agreement; bill heads to Biden

With only days before a projected U.S. default, the Senate in a 63-36 vote on Thursday passed a bill to suspend the debt ceiling, sending the measure to President Joe Biden for signature. The Fiscal Responsibility Act of 2023 will suspend the debt ceiling until January 2025 and cap federal spending for at least two years. The Congressional Budget Office on Tuesday estimated the bill will cut the federal deficit by $1.5 trillion over the next decade. The measure was passed...

June 2, 2023

NewsPolitical economy, US

02JunJune 2, 2023

Aegon UK to invest £500m in climate solutions by 2026 in net zero push

Aegon UK has launched a climate action roadmap geared towards achieving net zero emissions by 2050, warning the time for "bold climate action" is now. Announced yesterday, the insurance, pensions and asset management firm's net zero target covers its core business as well as financed emissions for its workplace default pension funds. Aegon UK also promised to take "concrete short-term steps" to slash its emissions in half by 2030, which it said would "support making customers' investments more resilient to shocks". Crucially,...

June 2, 2023

NewsClimate crisis, Investment, Pension Management, UK

02JunJune 2, 2023

Ghana unions request time to mull $2.7 billion pension fund restructuring offer

Ghanaian labour unions have asked the government for time to assess a proposal presented on Thursday to restructure pension funds worth around 30 billion Ghanaian cedis ($2.7 billion). The West African nation is looking to extend the maturity periods of cedi currency bonds that the pension funds hold in exchange for higher interest payments as part of efforts to save billions in near-term debt payments under a loan deal from the International Monetary Fund. Abraham Koomson, leader of the federation of...

June 2, 2023

NewsGhana, Pension Payout

02JunJune 2, 2023

Robust Retirement Tiers Can Help Keep Participants In-Plan

Workplace retirement plans may need to change their name—these days, more plan sponsors are looking for ways to serve their former employees even after they’ve quit working. Research released by Cerulli Associates last month showed that more than half of plan sponsors (54%) would prefer to keep their retired participants’ assets in their plan, rather than seeing them rolled into an individual retirement account or other plan. That’s more than double the 26% who said the same in 2019. But plan...

June 2, 2023

NewsPension design, Pension Management

June 2023