October 2024
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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08Oct

Despite medical advances, life expectancy gains are slowing

We’ve seen dramatic increases in life expectancy over the 19th and 20th centuries, thanks to healthier diets, medical advances and many other quality-of-life improvements. But after nearly doubling over the course of the 20th century, the rate of increase has slowed considerably in the last three decades, according to a new study led by the University of Illinois Chicago. Despite frequent breakthroughs in medicine and public health, life expectancy at birth in the world’s longest-living populations has increased only an average...

October 8, 2024
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08Oct

Australia. Pension exit improvements proposed

A government proposal to allow SMSF members to exit legacy pensions could be improved through the removal of the five-year timeframe, allowing partial commutations and exempting all reserve allocations from any form of contribution caps, the Institute of Financial Professionals Australia (IFPA) has stated. In its submission to Treasury regarding the draft regulations released in mid-September, IFPA welcomed the proposed changes, but added minor amendments to the regulations would ensure they were more effective and flexible in allowing people to exit...

October 8, 2024
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07Oct

UK. Royal Mail launches collective defined contribution pension plan

Royal Mail has launched a collective defined contribution (CDC) pension plan to provide its more than 100,000 employees with a cash lump sum and an income in retirement. Along with the Communications Workers Union (CWU) and Unite CMA, the employer designed and implemented a pension arrangement for its workforce that was affordable for itself and its employees. Every employee with at least one year of service is eligible to join, with the majority joining automatically. The plan pools members’ contributions and provides staff...

October 7, 2024
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07Oct

Ghana. Authority to educate on pensions in churches.

The National Pensions Regulatory Authority (NPRA) has marked what they call 'Pension Sunday'—a special day devoted to enlightening church congregations and the broader public about the significance of investing in their future through pension schemes. In recent years, the NPRA, the regulatory body overseeing Ghana's three-tier pension system, has significantly intensified its advocacy efforts, particularly targeting the informal sector. "Our goal is simple," stressed Mr. John Mbroh, Chief Executive Officer of the NPRA, "we want everyone, especially those in the informal...

October 7, 2024
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07Oct

US. People delaying retirement to get Medicare. Is it worth it?

I started my career with ING. After five years, I was convinced I would finish my career there. They spun off in the U.S. and, after year six, I found a new home. After five years at my new firm, and after becoming an owner, I was convinced I would finish my career there. In year eight, I sold my shares back to start my own firm. The point is that things don’t always go as planned. According to the Employee...

October 7, 2024
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07Oct

UK. Four New Firms Join the Pension Dashboard Operators Coalition to Reconnect People With Their Savings

The UK Pensions Dashboard Programme (PDP), a project aiming to create the infrastructure required to help over 16 million people plan for retirement and connect with lost pension pots all in one place, has been hit with delay after delay. In an effort to help launch commercial pensions dashboards for consumers more quickly, four new firms have joined the Pension Dashboard Operators Coalition, the industry coalition of potential operators of commercial pensions dashboards. Fidelity International, Mercer, Penny and Pension Lab become the latest firms to join the...

October 7, 2024
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