October 2024
10Oct

US. Over 90% of corporations with derisking goals to shed pension liabilities — MetLife

More than 90% of U.S. corporations with defined benefit plans that have derisking goals plan to transfer all their liabilities in an average of just under four years, according to a new poll conducted by MetLife. In the insurer’s 2024 Pension Risk Transfer Poll, 93% of respondents said they intend to completely offload all of their pension liabilities, up from 89% that expressed that sentiment a year ago. Among that population, they plan to do so in an average of 3.8...

October 10, 2024
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10Oct

Pension funds biggest investors in UK’s £10bn social impact investment market

Pension funds are the largest investors in the UK’s social impact investment market, according to the latest annual market sizing report from Better Society Capital (BSC). The report reveals that the sector grew to £10bn (€11.9bn) last year, marking a 7% increase compared to 2022. In 2023, investment by pension funds represented 21% of the country’s total social impact investment market, with most of their funds being directed towards social and affordable housing, according to BSC. Endowments and charities were the second biggest...

October 10, 2024
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10Oct

How many Canadians are gig workers?

More than one in five (22%) Canadians are participating in gig work of various kinds across the country. That equates to about 7.3 million adults finding work outside of regular employment. And they are doing it for a variety of reasons, reports Securian Canada, with more than half (57%) — or roughly four million people — relying on this type of work to supplement their primary income. Nearly three-quarters (73%) of all gig workers are either employed full-time or part-time outside...

October 10, 2024
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09Oct

French lawmakers weigh political risk of curbing boomers’ costly pensions

 France's government has put the country's explosive pensions issue back on the agenda as it seeks to reduce a gaping budget hole. But this time, it wants pensioners to contribute to belt-tightening efforts themselves. It also wants lawmakers used to pandering to older voters to back it. Economists and analysts say that if France really wants to tackle its bloated public spending, the baby-boom generation - those born between 1946 and 1964 - must take a hit to their pensions,...

October 9, 2024
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09Oct

New ILO report highlights urgent need for improved labour and social protection for domestic workers in ASEAN

A new report by the International Labour Organization (ILO) highlights the critical need to improve labour and social protection for domestic workers across the 10-member Association of Southeast Nations (ASEAN) region. The report entitled Labour rights and social protection coverage for domestic workers in ASEAN  finds that despite their essential role in supporting households and economies, domestic workers, many of whom are women and migrants face significant gaps in protections that affect their well-being and economic security. There are about 38.3 million domestic...

October 9, 2024
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09Oct

UK. DWP suggests clearer communication and tech to boost pension engagement

There is a need for clearer communication, improved information and greater use of technology to boost public engagement with private pensions in the UK, according to the Department for Work and Pensions (DWP). The report, titled “Lessons on Pensions Engagement”, explores how to encourage greater participation in private pension schemes. It finds that “Pension engagement is a key departmental and governmental priority, but evidence shows engagement is low.” The analysis defines engagement in three ways: cognitive, emotional, and behavioural. It highlights...

October 9, 2024
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09Oct

US. A Little Bit of Everything in September for DB Plans

September is a little bit of everything. It’s summer, it’s fall. Baseball season, football season. In like manner, the funding status of private-sector pension plans showed slight progress — or slight decline — this September, depending on the analysis. But the common theme is that there was relative stability. This marks the second consecutive month in which the funding of private-sector pension plans had mixed results. They fared similarly in August, when a number of analyses diverged on whether private-sector pension...

October 9, 2024
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09Oct

Korean public pension fund trailing peers on support for E&S votes, study finds

Korea’s National Pension System (NPS) is falling behind other large public pension funds on proxy voting, according to a study by local policy think tank the Economic Reform Research Institute (ERRI). With $818 billion in AUM, NPS is the second-largest pension fund in the world after Japan’s Government Pension Investment Fund. However, analysts at ERRI said an inadequate voting policy on sustainability issues means the fund consistently ranks low among peers on support for global ESG proposals. The study compares NPS with six European,...

October 9, 2024
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08Oct

Regulators increase scrutiny on funded reinsurance amid pension de-risking surge

The growing use of innovative “funded” or “asset-intensive” reinsurance structures by life insurance companies has attracted regulatory attention, particularly in light of the expanding pension de-risking market. These transactions, which involve transferring corporate pension scheme liabilities to life insurers, have led to an increase in reinsurance activity where both investment and longevity risks are passed to reinsurers. In its latest report, Hogan Lovells notes that while regulators recognize the strategic role of reinsurance in managing risk and capital, the rising volume of...

October 8, 2024
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08Oct

US. 4 Trends Transforming How The Country Saves For Retirement

From building your nest egg to navigating financial hurdles, everyone’s journey to retirement is unique—but a clear road map is key to success. This is evident in research conducted by investment management company Vanguard in its comprehensive How America Saves 2024 report, which explores hundreds of retirement contribution plans, thousands of data points and the actions of millions of participants. For the past 23 years, Vanguard has been researching retirement trends and using data to help plan administrators optimize offerings. The result?...

October 8, 2024
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