September 2024
23Sep

Swiss Voters Shoot Down Government’s Pension-Fund Reform

Swiss voters rebuffed a government plan to reform company pension funds, marking the second time this year that a proposal to adapt the country’s retirement system to changed demographics was rejected in a plebiscite. The bill to increase wage deductions and reduce retirement payouts — in order to cope with higher life expectancy — was supported by just 32.9% of the electorate, according to final government results published on Sunday. “Now we stick with the status quo,” Switzerland’s leading business lobby...

September 23, 2024
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23Sep

Sustainable Investing Pursuing Differentiated Paths

“Sustainable investing” has entered the financial lexicon. More investors have adopted it as the preferred term to describe their approach to incorporating the material impacts of environmental, social and governance factors on their investments. But with the proliferation of diverse sustainable approaches available today, it can mean different things to different participants in the institutional investment world. Thomas Kuh, head of ESG strategy at Morningstar Indexes, broadly defines sustainable investing “as an overarching category that includes climate, ESG and impact....

September 23, 2024
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23Sep

UK pension fund Nest agrees tie-up to invest up to £1bn in build-to-rent

The UK’s state-backed pension scheme has agreed a tie-up with insurer Legal & General and Dutch pension fund manager PGGM to invest up to £1bn in build-to-rent properties, in a deal hailed by the UK government as an example of how the country’s retirement savings can be directed towards its homebuilding effort. The groups are today announcing a partnership with an initial £350mn commitment of combined investment, expected to grow to £1bn in the coming years, to build and manage...

September 23, 2024
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20Sep

US. House passes anti-ESG package of bills

House Republicans passed two pieces of anti-ESG legislation in just as many days, culminating in what the party has dubbed “woke week.” The topic is essentially a continuation of the GOP’s long-running anti-ESG campaign, which last year featured a handful of hearings and numerous bills during “ESG month.” This week’s bills, which seek to undo rules from the Securities and Exchange Commission, the Department of Labor and others, stand virtually no chance of passage in the Senate or of getting President Joe...

September 20, 2024
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20Sep

81% of Citizens Worldwide Believe That Funding Their Retirement Is Their Own Responsibility

Are You Unsure if You Can Retire? Don’t Worry, the Global Retirement Index (GRI) by Natixis IM Shows Stability in Retirement Conditions Worldwide According to the latest edition of the Global Retirement Index (GRI) from Natixis Investment Managers, retirement conditions remain stable globally. After nearly all developed countries improved their scores last year, the latest findings suggest that retirement remains secure. Countries that perform best in the GRI tend to show consistent results across all sub-indices, reflecting a stabilization of global retirement prospects. The...

September 20, 2024
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20Sep

Canada. PSP Investments’ green assets increased to $64.9BN in fiscal 2024: report

The Public Sector Pension Investment Board has $64.9 billion invested in green assets, compared to $48.9 billion in fiscal 2023, according to the investment organization’s latest sustainability report. It found in addition to green assets, PSP Investments has roughly $11.5 billion in transition assets, defined as investments that have committed to make a substantial contribution to the low-carbon transition through the establishment of public targets and disclosure. Among PSP Investments’ portfolio companies, reported Scope 1 and Scope 2 greenhouse gas emissions data...

September 20, 2024
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19Sep

US. Less Than Half of Pre-Retirees Actively Saving for Retirement

Only 40% of pre-retirees—those between five and 10 years away from their desired retirement age—say they are financially preparing for retirement. This according to New York Life’s latest Wealth Watch survey, released Sept. 17, which found that American adults overwhelmingly report they are not financially preparing for major life events like purchasing a home, starting a family, changing careers, or retirement. The survey also found half of pre-retirees think they will retire later than expected, and 22% think they may never...

September 19, 2024
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19Sep

UK. NHS retirees with six-figure pensions double in a year

The number of retired NHS workers receiving pensions paying £100,000 has more than doubled in a year. Nearly 2,000 former consultants and senior staff now have pensions paying six-figures – up from 890 last year and 698 in 2022. Britain’s public sector pension debt has swollen to nearly £5 trillion, which is the equivalent of £173,000 per household. The NHS retirement plan, which is the nation’s largest public sector pension scheme, paid £12bn to its retirees in the 2023-2024 tax year, official documents show. Most...

September 19, 2024
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19Sep

US. New York City Pensions’ CIO Steven Meier discusses trustees’ attitudes to ESG

For Steven Meier, chief investment officer of the New York City public pension funds, finding alignment – particularly regarding ESG – among the trustees of the five pension plans he manages, is one of the key challenges he faces. The trustees of the five New York City public pension plans diverge in their attitudes to ESG, and one of the key challenges Meier faces is “finding consistency of thought” among these trustees, Meier said this week. Meier’s office manages the New...

September 19, 2024
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19Sep

Jamaica. Low birth rate could affect country’s development goals

RESPECTED former public servant Reginald Budhan says if the fall in Jamaica’s birth rate continues unabated, the island’s vision for developed country status “will remain a dream”. Jamaica’s Population Health Status Report 2000–2022, which was tabled in Parliament in May, showed that the country continues to face a low birth rate problem with the total number of live births in the country declining sharply over the last 20 years. Overall, it said Jamaica’s crude birth rate, which is the number...

September 19, 2024
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