News Archives - Page 100 of 736 - Pension Policy International

12MayMay 12, 2023

Canada. British Columbia Investment Management hits pause on China deals

British Columbia's public pension manager has paused direct investments in China, the latest institutional investor to rethink its exposure to the world's second-largest economy due to geopolitical risks. A senior executive from British Columbia Investment Management revealed the policy during testimony this week to a Canadian parliamentary committee. Ontario Teachers' Pension Plan has made a similar move, suspending new investments in private assets in China, Bloomberg reported in January. BCI still has Chinese investments, mostly through public markets and index funds,...

May 12, 2023

NewsCanada, China, Investment, Political economy

12MayMay 12, 2023

South Africa. Distribution of military veterans’ pensions gains momentum

The Defence and Military Veterans Department says the pension payout for military veterans, who do not have any income, is going full speed ahead. “We have noted the confusion and uncertainty created by the lack of clarity on the part of the Department of Military Veterans officials in their interaction with Parliament’s oversight committee on Defence and Military Veterans,” the department said on Thursday. However, the department clarified that the distribution of the pension is being implemented through the Government Pension...

May 12, 2023

NewsPension Payout, South Africa, State Pensions

12MayMay 12, 2023

Ghana. Only about 1.9m out of 10 million workers are covered under SSNIT scheme – SSNIT boss

Only about 1.9 million of the 10 million or so workers in the country are covered under the Social Security and National Insurance (SSNIT) Scheme. According to the Director General of SSNIT, Dr John Ofori-Tenkorang, what is more, disturbing is that only about 32,000, representing 1.68% of active contributors, are self-employed. This is despite the fact that the majority of workers in the country are self-employed and/or work in the informal sector. Speaking at the launch of the SEED – a campaign...

May 12, 2023

NewsCoverage, Ghana, Informal Sector

12MayMay 12, 2023

Impact investments meeting financial expectations, exit study finds

The majority of impact investments are meeting or exceeding financial performance expectations, according to a study released Wednesday by ICM Institute, a non-profit research arm of the Impact Capital Managers, an association of private capital funds, and global law firm Morrison Foerster. The report, "Alpha in Impact: Strengthening Outcomes: Impact and Financial Value at Exit," covers a sample of 230 exits from ICM members managing market-rate impact funds. It found that 65% of impact exits met or exceeded financial performance...

May 12, 2023

NewsESG, Investment

11MayMay 11, 2023

Ghana. SSNIT expands coverage of basic social security scheme to self-employed persons

The Social Security and National Insurance Trust (SSNIT) has launched the Self-Employed Enrolment Drive (SEED), a product geared towards expanding coverage of the basic national social security scheme to self-employed Ghanaians. Dr John Ofori-Koranteng, Director-General of SSNIT, speaking at the launch of the product in Kumasi, said the aim was to redefine social security in Ghana and give hope to the self-employed to be able to retire in dignity and comfort. In pursuit of this agenda, the management of SSNIT had...

May 11, 2023

NewsCoverage, Ghana, Informal Sector

11MayMay 11, 2023

UK MPs urge minister to do more to free Hongkongers’ trapped savings

The first British ministerial visit to Hong Kong since the introduction of draconian Chinese security laws five years ago was a chance to demand that China unlock more than £2bn in pensions belonging to British overseas passport holders who fled for the UK, former cabinet ministers have told the Foreign Office. A letter signed by more than 90 MPs, including 10 former ministers, urges the trade minister Dominic Johnson to do more to release frozen savings belonging to thousands of...

May 11, 2023

NewsHong Kong, savings, UK

11MayMay 11, 2023

US. Senate passes bill banning state’s pension, investment funds from ESG considerations

The Ohio Senate sent to the House on Wednesday a bill that would prohibit managers of the state’s five pension systems and other investment funds from choosing investments based on their social, environmental and corporate governance goals. ESG principles consider companies’ and funds’ policies affecting the environment and climate. Social goals include how a company treats its employees, suppliers and customers. Governance policies require an examination of corporate leadership, executive pay, shareholder rights and internal controls. Recently, Republicans across the country...

May 11, 2023

NewsESG, Pension Management, US

11MayMay 11, 2023

UAE. ‘Shourak’, the new scheme by the GPSSA to provide more sustainable returns and secure retirement

WAM: The General Pension and Social Security Authority (GPSSA) has said that insured members under the GPSSA's umbrella who opt to join “Shourak” must do so within six months of their end-of-service date and merge their end-of-service benefits within one month when joining a new entity. “Shourak”, which means “preference” in English, aims to provide Emiratis with a more sustainable insurance return for themselves and their families and a secure pension scheme. The programme's procedures do not apply to employment years...

May 11, 2023

NewsPension design, UAE

10MayMay 10, 2023

US. New York State Common reaches deal with 4 companies to cut emissions

New York State Common Retirement Fund, Albany, reached agreements with four U.S. companies to compel them to set targets to reduce their greenhouse gas emissions and regularly report on their progress, said New York state Comptroller Thomas P. DiNapoli, sole trustee of the $242.3 billion pension fund, in a news release Tuesday. As a result of these agreements, the pension fund has withdrawn its shareholder resolutions with the companies. The four companies are Carrier Global Corp., a heating, ventilation and air...

May 10, 2023

NewsClimate crisis, Pension Management, US

10MayMay 10, 2023

UK. Church of England fund to vote against Shell chair over climate concerns

The Church of England Pension Board said on Tuesday it would vote against Shell's (SHEL.L) chair and directors at its upcoming annual meeting over "signals" the energy giant could revise commitments to fight climate change. Proxy adviser PIRC also recommended investors vote against the energy company's chair and oppose its annual report for "failing to address climate risks by setting adequate targets". Chief Executive Officer Wael Sawan, who took office in January, said in March that Shell was reviewing its plan...

May 10, 2023

NewsClimate crisis, Pension Management, UK

May 2023