News Archives - Page 177 of 736 - Pension Policy International

19AugAugust 19, 2022

Iran raises pensions for retired workers by over 38%

The Iranian government has approved a raise in monthly pensions paid to millions of retired workers in the country. Caretaker labor minister Mohammad Hadi Zahedivafa said on Thursday that monthly pensions for retired workers who are on the payroll of Iran’s Social Security Organization (SSO) will rise by 38% plus a fixed monthly handout of 5.15 million rials ($17.5) as of September. The raise will be applied retroactively to pensions paid since the start of the calendar year in March, said...

August 19, 2022

News2022, Iran, Public Pensions

19AugAugust 19, 2022

Nigeria. Pension fund, contributors hit N14trn, 9m respectively – PenCom

The Director -General, PenCom, Mrs Aisha Dahir-Umar gave the figure at a workshop organised by the commission for journalists covering the pension industry on Thursday in Lagos. The theme of the workshop was, “Increasing Informal Sector Participation In The Contributory Pension Scheme (CPS) :The case for Micro Pension Plan (MPP).” Dahir-Umar, represented by the Head, Corporate Communications, Mr Abdulqadir Dahiru said increasing number of pension contributors and fund was responsible for the recapitalisation of the Pension Fund Administrators (PFA’s) by PenCom. “The...

August 19, 2022

News2022, Informal Sector, Nigeria

18AugAugust 18, 2022

Investors join forces to address financial, environmental risks of water

A coalition of 64 institutional investors is collaborating to get world's biggest corporate water users and to address water as a financial risk. The Valuing Water Finance Initiative represents institutional investors with a collective $9.8 trillion in assets, and is coordinated by shareholder advocacy group Ceres and the government of the Netherlands. Read also Europe’s gas crisis: what does it mean for investors? Pension fund members include the $459.4 billion California Public Employees' Retirement System, Sacramento; $301.6 billion California State Teachers' Retirement...

August 18, 2022

News2022, ESG, Investment

18AugAugust 18, 2022

UK. 80% of employers think it is important pensions are invested responsibly

Aviva’s Working Lives Report 2022: The Big Squeeze(1) has found four out of five (80%) employers compared to 65% of employees think it is important that a workplace pension fund is invested responsibly. The research also found a further 19% of employees said responsible investment(2) is important but only as long as it does not impact the performance of their funds. However, over half (55%) of employees do not know if their workplace pension fund is invested responsibly. Just over...

August 18, 2022

News2022, Investment, UK

18AugAugust 18, 2022

Philippines has little time to address aging population – Pupulation Commission

The government should start investing on long-term programs to manage the increasing number of senior citizens in the country, particularly on health-care and employment opportunities, the Commission on Population and Development (Popcom) executive director said on Wednesday. “What we need are programs to achieve active and healthy aging, including community-based rehabilitation programs. We also need programs for geriatric care … Eventually, if there are really growing numbers, let’s say beyond 10 million population, we also have to develop programs for...

August 18, 2022

News2022, Aging, Philippines

18AugAugust 18, 2022

Europe’s gas crisis: what does it mean for investors?

Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European Union (EU) and others were quick to apply sanctions to Russian oil. However, gas is a more complicated matter given the reliance of major European economies – most notably Germany – on natural gas from Russia. The situation became even more critical when a major supply pipeline – Nord Stream 1 – was closed for maintenance...

August 18, 2022

News2022, Investment

17AugAugust 17, 2022

U.S. $7T Retirement Crisis Is Only Getting Worse

Americans have been warned for years of an impending retirement crisis. Yet the situation is getting worse. Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — there was a multi-trillion dollar savings shortfall. Read more Inflation Moderately Pressures US Public Pension Liabilities Then came a pandemic, war in Europe, decades-high inflation, the fastest rate-hiking cycle since the early 1980s and fears of a recession. The resulting market turmoil...

August 17, 2022

News2022, COVID-19, Public Pensions, US

17AugAugust 17, 2022

UK. Transfer volumes could hit £600bn as insurers post strong results

A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector. Read more Older people face losing €1,532 in spending power by end of year Of those that have released their results so far, Aviva saw bulk annuity sales increase by 15 per cent, rising to £1.9bn, which compares with £1.6bn...

August 17, 2022

News2022, Pension Management, Risk, UK

17AugAugust 17, 2022

This is how long people across Europe can expect to work

Whether you love your job—or dream of retirement—most of us want to know how long our working lives will last. The next generation of Europeans are expected to work for an average of 36 years, although there are big differences between countries. Working lives in Europe have been getting longer since 2001, according to the European Commission’s data service Eurostat. They shortened slightly for the first time in 2020 because of COVID-19, but are now up to their pre-pandemic level. The...

August 17, 2022

News2022, Europe, Labor Market, Retirement Age

16AugAugust 16, 2022

Inflation Moderately Pressures US Public Pension Liabilities

The high inflation environment in the US is likely to have only moderately negative effects on state and local government public pension plan liabilities via automatic cost of living adjustment (COLA) mechanisms but will pressure plans through weakening asset performance and rising payroll costs, Fitch Ratings says. Market value smoothing and supplemental pension contributions by some governments this year from budget surpluses will help partially mitigate these challenges. While automatic COLA provisions differ across plans, those plans that provide them...

August 16, 2022

News2022, Public Pensions, US

August 2022