November 2024
27Nov

Kodak looks to terminate US pensions, will gain over $500 million in finances

According to a filing with the SEC, Kodak said that it looks to cut its pension plan. The plan has increased significantly due to initial contributions and market performance. The SEC filing stated that Kodak looks to use the cash from the cut and sale of the plan, which would to offset its debt. The sale — which also includes the sale of “illiquid assets” — was to Mastercard Foundation, and Kodak would retrieve more than $500 million. Kodak confirmed with...

November 27, 2024
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27Nov

Managing the future of risk for Canadian public pensions

Canada’s largest public pensions — unofficially called the “Maple 8” — are internationally respected and in a healthy fiscal position at the end of 2024 [1]. These eight public pensions collectively hold $2.1 trillion in assets under management as of the end of 2023. Despite recent economic headwinds, the Maple 8 are in a strong financial position with almost all members of this unofficial group above 100% funding. In fact, by 2023, Canada Pension Plan (CPP) Fund assets were...

November 27, 2024
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27Nov

Pension System in Ukraine: Citizens’ Perspective

Do citizens consider the pension system fair, and what would they like to change? How well do Ukrainians understand the pension calculation formula and the factors that affect the pension sum? How confident are citizens that the pension system will be able to provide them with a decent life in old age? What do people think about the introduction of mandatory funded pensions? We can answer these and other questions with the results of a nationwide survey on social...

November 27, 2024
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27Nov

Largest US pension fund CalPERS over halfway to $100B climate investment goal

The California Public Employees’ Retirement System is more than halfway to its goal of investing more than $100 billion in climate solutions, the pension fund announced last week. CalPERS, the largest pension fund in the nation, said it had invested $53 billion in climate solutions, a year after it set the $100 billion target, according to a Nov. 18 press release. While the climate solution funding goal is part of CalPERS’s 2030 sustainable investing strategy, some of its beneficiaries...

November 27, 2024
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27Nov

Delhi Govt Re-Launched Senior Citizen Pension Scheme Despite Challenges: Bharadwaj

New Delhi, Nov 25 (IANS) Delhi health Minister Saurabh Bharadwaj announced on Monday that the Aam Aadmi Party (AAP) government has re-launched the senior citizen pension scheme, despite challenges posed by the Central government. The scheme, offering financial assistance to Delhi residents aged 60 and above, was revived under the leadership of former Chief Minister Arvind Kejriwal, who had previously launched it but saw it halted during Political setbacks. The re-launched scheme has seen overwhelming interest, with over 10,000 applications on its first day. The...

November 27, 2024
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26Nov

Largest asset owners reach record $26.3trn; pension funds see smallest growth

The world's largest 100 asset owners now hold a record $26.3trn in total assets, although pension funds saw the smallest growth rate, with assets held rising by 8.9 per cent from the previous year, analysis from Thinking Ahead Institute (TIA) has revealed. The research showed that the assets of the top 100 asset owners globally saw a return to growth in 2023 after a fall of 8.7 per cent in 2022, with the 12.3 per cent year-on-year increase helping to...

November 26, 2024
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26Nov

Demanding dignity for delivery drivers in China’s precarious gig economy

In August 2024, a viral video from Hangzhou showed a delivery driver kneeling before a security guard after being fined for scaling a fence to save time. The incident ignited protests among delivery riders, exposing the exploitation embedded in China’s food delivery industry. This moment, combined with the release of Upstream, a Chinese blockbuster highlighting the struggles of gig workers, has intensified public discussion about the plight of the 12 million Chinese delivery riders navigating precarious conditions. Their challenges expose deeper...

November 26, 2024
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26Nov

How are countries responding to the ageing workforce challenge?

An ageing population is an irreversible global trend, and it risks posing serious challenges over the next few decades. Pension systems, designed when populations were younger and life expectancy shorter, are now under immense pressure. To mitigate the impact of an ageing population, governments around the world are starting to implement a raft of measures. While there is no one-size-fits-all solution, nations are amending pension laws and updating regulations to adapt to the changing demographics. Let’s delve into the details...

November 26, 2024
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26Nov

Romania’s Govt. announces 12.1% hike in pensions as of January

Pensions in Romania will increase with the hike in the reference point value (VPR), rising by 12.1%  from RON 81 currently to RON 91 after January 1, 2025, the Ministry of Labor announced on November 20 on its Facebook page. "The 12.1% increase in the VPR is above the inflation rate.  The new Pension Law is a firm guarantee that every pensioner will benefit from a sustainable increase in income," said the minister of labor and social solidarity, Simona Bucura Oprescu,...

November 26, 2024
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25Nov

UK. Hopes and fears for pensions in 2025

Improvements in defined benefit (DB) pension scheme funding mean that, for many, the ‘endgame’ for the pension scheme now feels tangible, instead of a distant ambition. However, the advent of the new funding regime will overlay a new discipline. With defined contribution (DC) schemes, questions around adequacy remain uppermost for members, while the absence of a timetable for the extension of auto-enrolment minimum contributions continues to be a concern.” The challenge of retirement adequacy We now know that Employer National Insurance...

November 25, 2024
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