December 2025

Millennial Dilemma: Home ownership or retirement security?

Millennials are facing an unprecedented financial squeeze: 58% of them feel as if they must choose between homeownership and retirement security, according to an Advisor Authority study, powered by the Nationwide Retirement Institute. The survey pointed out that as housing prices accelerate ahead of median income wage growth, millennials face a fundamentally different financial environment from their parents, resulting in their adopting different approaches to wealth building. Millennials’ wealth-building approaches Unlike prior generations, said Juan Jose Perez, president of Nationwide Corporate Solutions,...

UK. A Christmas wishlist for the pensions industry

By Nick Reeve With the festive break upon us, it’s time to find out what the pensions industry really wants for Christmas this year. Pensions Expert asked representatives of 21 organisations from across the UK retirement industry to come up with one ‘Christmas wish’ – something they would like to see over the next 12 months. From a smooth passage for the Pension Schemes Bill to collective defined contribution (CDC) schemes becoming a reality, from defined benefit (DB) endgames to the Pensions...

Cananea Mine Strike Ends After 18 Years, Agreement Reached

After nearly two decades, the labor conflict at the Cananea mine has come to an end, as miners from Section 65 of Mexico’s National Miners’ Union unanimously approved a final agreement providing long-awaited compensation, access to social security and pensions, and a comprehensive resolution for more than 650 workers and their families. According to Section 65, the assembly unanimously endorsed the agreement, which followed negotiations involving the union, the federal government, the Ministry of the Interior, the Ministry of Labor and...

Why is inequality so high in Latin America? An interview with Francisco H. G. Ferreira

Economic inequality in Latin America has historically been – and is currently – higher than in much of the rest of the world. For a time, it seemed that large pro-poor programmes, particularly conditional cash transfers (CCTs) – conditional mainly on attending schools and health visits – made some dent on inequality. Such CCTs were pioneered in Mexico, though it has now discontinued that policy, and have been pursued in a major way in Brazil, Colombia, Chile and elsewhere....

Over half of UK savers relying on non-pension assets for retirement

Over half (57 per cent) of UK pension savers are building up retirement savings outside of their pension, with a heavy reliance on cash, raising concerns about long-term outcomes, research from Interactive Investor has revealed. The investment platform found that adults were saving for retirement outside of a pension, using a mix of cash savings, stocks and shares ISAs, buy-to-let property and other investments to build long-term wealth. While the trend points to broader engagement with retirement saving, the findings highlighted...

Charted: U.S. Population Growth by Year (2005-2055)

Key Takeaways In 2025, the U.S. population is forecast to grow 0.2% amid record-low fertility rates and an aging population. Over the next 30 years, population growth is expected to decline to zero. By 2048, population will peak, as net immigration growth and natural population decline (deaths > births) cancel each other out. U.S. population growth is slowing, and is projected to grind to a halt by 2048. Today, historically low fertility means births only marginally exceed deaths. Not only that, within the next...

Mexico Retirement Funds Log Record MX$1.12 Trillion Returns

Retirement savings for Mexican workers posted historic returns in 2025, as Administrators of Retirement Funds (Afores) recorded total gains—or plusvalías—of MX$1.12 trillion from January through November. According to data from the National Commission for the Retirement Savings System (CONSAR), this represents the highest level ever recorded for the period. Despite the record cumulative performance, the pace of growth in Afores’ returns moderated in November compared with previous months. Positive returns for the month totaled MX$32.608 billion, a 77% decline from...

UK. ‘Clarity and fresh uncertainty’: Pensions in 2025

UK pensions policy rarely stands still but 2025 delivered a flurry of reforms, consultations and political interventions. From the revival of the Pensions Commission to sweeping changes in the Budget, this year brought both clarity and fresh uncertainty for advisers. By the time we had reached December, it was clear that the big story of 2025 wasn’t one specific reform but the sheer volume of moving parts. One thing is clear: the pace of pensions reform is accelerating In May, 17 of the...

Aging in Ghana: Challenges, Realities, and Struggles

In Ghana, like many countries across Africa and the world, the population of older adults is steadily increasing due to improvements in healthcare and longer life expectancy. However, growing older in Ghana brings a number of social, economic, health, and emotional challenges especially for those without formal jobs, pensions, or family support systems. Demographic and Social Changes Ghana’s elderly population (aged 60 and above) has grown significantly over past decades. Although they make up a relatively small percentage of the total...

TfL Pension Fund raises ESG allocation to 15.9% after exceeding net-zero target

The TfL Pension Fund has surpassed its interim net-zero target and increased its allocation to environmental, social and governance (ESG)-tilted investments to nearly 16 per cent, according to its latest report on sustainable investing. The fund reported a 58 per cent reduction in carbon emissions intensity as of 31 March 2025, relative to a 2016 baseline, exceeding its 55 per cent reduction target for 2030. Its long-term objective remains a 100 per cent reduction by 2045. At the same time, ESG-tilted investments...