June 2024
27Jun

Two-thirds of Brits think the state pension won’t exist when they retire

More than 70 per cent of working-age Britons think the state pension will not exist in its current form when they or their children come to retire - but the majority still would not pay into someone else's pension. This is according to research from adviser platform Nucleus, which revealed 71 per cent of people aged 18 and above believe the state pension will not exist or will be less generous when they retire. Carried out among 2,100 UK adults aged...

June 27, 2024
News,
Read more...
27Jun

Commentary: Investors’ role addressing intergenerational risk of LGBTQIA+ inequity

Investor demand for LGBTQIA+ investment options is strong and set to grow, so why is the market not responding? Today, the proportion of the population identifying as a member of the LGBTQIA+ community is estimated to grow exponentially, with each generation nearly twice as likely as the generation preceding it to identify as LGBTQIA+, according to Gallup. However, our systems — spanning corporate human resources, education, healthcare and more — are unprepared to address this ongoing generational shift. The exclusion of...

June 27, 2024
News,
Read more...
27Jun

UK. DB schemes taking steps to manage risks as funding positions improve

Defined benefit (DB) pension schemes have taken advantage of last year’s “relative calm” to make progress on endgame planning, net-zero targets, and tackling diversity, equity and inclusion (DE&I) issues, research from LCP has revealed. LCP’s latest Chart Your Own Course report found that many schemes have seen improvements to their funding positions and are exploring various endgame options. In particular, LCP found that completing a de-risking transaction remained a top priority for many, cited as a key priority in the coming year...

June 27, 2024
News, , ,
Read more...
27Jun

How to save for retirement: Investment tips for moderate risk takers

If you plan to retire at 50, you will need to build a big enough corpus to last you through 30-35 years of retirement, or even longer. Considering inflation, and the extended period in retirement will necessitate a larger corpus than ₹2 crore to provide for your needs. Let's assume you will need ₹75,000 per month to sustain your expenses. This is 50% of your current income. If your retirement corpus of ₹2 crore (current prices) earns 9% returns, it will sustain inflation...

June 27, 2024
News,
Read more...
26Jun

US. Pension fund for N.Y. public workers sees significant increase

The pension fund for public retirees in New York saw significant investment returns for the previous fiscal year, according to state Comptroller Thomas DiNapoli’s office. The New York State Common Retirement Fund had an investment return of more than 11.5 percent during the fiscal year ending on March 31, nearly double the long-term expected rate of return of 5.9 percent. The fund, which manages the money for local and state government retirees, ended the year at nearly $268 billion. While inflation persists...

June 26, 2024
News, ,
Read more...
26Jun

UK. ‘I don’t know how I’m going to work until I’m 67’

With the general election fast approaching, many people are thinking about what changes they would like to see from the next government. Pensions and retirement age are two issues people are focused on, and voters in Somerset have spoken to the BBC as part of the Your Voice Your Vote campaign. Doug Workman, a 63-year-old builder from Chilcompton, near Radstock, wants the retirement age to be lowered as he is finding it "more difficult" to physically manage at work. "I don't know how...

June 26, 2024
News, ,
Read more...
26Jun

Ghana. SSNIT drags railways MD to court for nonpayment of contributions

The Social Security and National Insurance Trust (SSNIT) office in Takoradi has dragged the Ghana Railways Corporation (GRC) and its Managing Director, Michael Adjei Anyetei, to court for nonpayment of social security contributions of the entity’s workers to the tune of GH¢4.13 million. The Circuit Court presided over by Araba Nunoo, issued the warrant for the arrest of the managing director after the SSNIT Prosecutor, Ann-Marie Annan, applied for a bench warrant to that effect. The prosecutor told the court that...

June 26, 2024
News, ,
Read more...
26Jun

US. LGBTQ elders struggle with health care, housing and isolation

LGBTQ older adults are four times less likely to be parents than older heterosexual adults, and twice as likely to grow old single and living alone, according to SAGE, a national group that offers services and advocacy for LGBTQ adults 50 and older. The challenges LGBTQ elders face overlap with an aging U.S. population. According to the U.S. Census, the population aged 65 or over grew to an unprecedented 55.8 million, or 16.8% of the total population, in 2020. The...

June 26, 2024
News, , ,
Read more...
25Jun

US. DOL report inconclusive on pension risk transfer market, needs more research

The U.S. Department of Labor is not proposing specific changes to Congress regarding Interpretive Bulletin 95-1, its Employee Benefits Security Administration guidance related to the fiduciary standards of pension risk transfer transactions. Instead, the DOL believes further exploration into the evolution of the PRT market may warrant changes in the future. A report released June 24 was required by SECURE 2.0, the retirement security package Congress passed in December 2022. The bulletin, IB 95-1, outlines the process plan fiduciaries must take when executing...

June 25, 2024
News, ,
Read more...
25Jun

Transforming UK Pensions Landscape – The role of QPDS under the Pension Dashboard Program

As per the latest survey, one in four people has lost track of at least one pension in the UK, with almost three million pension pots left unclaimed. The estimated combined value of these unclaimed pensions is a staggering £26.6 billion1. Thus, a pressing need was long felt by the authorities and pension holders in the UK for a program that helps consolidate and simplify access to pension information across multiple pension providers, helping individuals better manage and plan...

June 25, 2024
News, ,
Read more...