News Archives - Page 210 of 966 - Pension Policy International

11JulJuly 11, 2024

70% of U.S. employers say benefits critical to attraction, retention efforts: report

Nearly three-quarters (70 per cent) of U.S. employers say their company’s benefits package is critical to attracting and retaining the best workers, according to a new report by LIMRA. It found half (51 per cent) of employers believe their company will be offering more benefits in the future than it does today and another six in 10 (61 per cent) said their employees will expect a wider variety of benefits options. Indeed, many employees — especially middle-income workers, younger workers and those...

July 11, 2024

NewsLabor Market, US

11JulJuly 11, 2024

UK. Wish list for new Pensions Minister

The new pensions minister, Emma Reynolds, must address the key challenges of adequacy, sustainability and intergenerational fairness facing the industry and the millions of savers across the UK as a priority, says Hymans Robertson. The leading pensions and financial services consultancy also says, it would like to see the new government deliver on the key pensions’ initiatives that are underway as the firm lays out its pensions policy wish list. Commenting on the need for rapid action from the new...

July 11, 2024

NewsRegulation, UK

11JulJuly 11, 2024

U.S. companies’ pension funds poised to stock up on corporate debt after big gains

The pension funds of U.S. companies are poised to shift billions of dollars into corporate credit, after months of stock-market gains and higher bond yields have left them awash with cash, analysts and advisers said. Corporate pension plans had 103.7% of the funding they need to meet obligations as of June, the highest level since 2022, according to the Milliman 100 Pension Funding Index. That metric has dropped below 100% only four times since March 2022. Big gains in U.S....

July 11, 2024

NewsInvestment, US

11JulJuly 11, 2024

Pensions and their role on the threat of climate change

Climate change is an enormous challenge and threat globally. Large investors, such as pension schemes, can have a significant influence in addressing this challenge. NetZeroWeekTM provides a reminder of the risks we face and actions that can be taken. In this article, we aim to answer two important questions: • Do pension schemes have a duty to address the threat of climate change; and • What role can pension schemes play in addressing the challenges faced? As long-term investors, trustees of pension schemes...

July 11, 2024

NewsClimate crisis, Pension Management

11JulJuly 11, 2024

Reality bites for Gen X retirement

The Slacker generation might have been slacking off when it came to planning for retirement: Gen X consistently ranks in surveys as the least-prepared group for when they stop earning. Why it matters: The first members of Gen X were born in January 1965, which means they turn 59½ this month and can start withdrawing money from 401(k) and other retirement accounts without paying a penalty. The big picture: As Gen Xers get older, they are getting increasingly worried about looming financial problems in...

July 11, 2024

NewsGen X, Retirement Planning, US

10JulJuly 10, 2024

UK sets out plans for National Wealth Fund

UK Chancellor Rachel Reeves has launched a National Wealth Fund (NWF) to unlock private investments in “green and growth industries”. The Labour government has allocated £7.3 billion to the initiative, which will be allocated through the existing UK Infrastructure Bank so investments can start being made immediately. The Treasury said it had, alongside the department for energy security and net zero, convened a meeting with the Green Finance Institute-chaired and investor-backed NWF taskforce set up to advise the government on...

July 10, 2024

NewsESG, Investment, UK

10JulJuly 10, 2024

US Remains Biggest Force in Pension Realm, per Study

The U.S. continues to dominate the world’s pension system, according to a study by the Thinking Ahead Institute, a research organization sponsored by financial services giant WTW. As of year-end 2023, U.S. pension assets (both defined benefit and defined contribution) made up 63.9% of the globe’s 22 highest-value pension-providing nations, up from 56.5% 10 years before, the study indicated. That may have something to do with the large amount U.S. pension providers allocate to equities—42%—over a span when stocks did well. Among the...

July 10, 2024

NewsPension Management, System Characterization, US

10JulJuly 10, 2024

Taiwan Shifts on Immigration as Birth Rate Falls

Taiwan is set to loosen regulations on hiring caregivers, opening the door for more foreigners to meet the rising demand for elderly care in its fast-graying society. A long-standing evaluation will soon no longer be required for the most vulnerable elderly to receive live-in assistance from foreigners, Deputy Labor Minister Wang An-pang told Taiwan's legislature last week. Like its East Asian neighbors, Taiwan is becoming a super-aged society, with people over 65 years old already comprising about 18 percent of the...

July 10, 2024

NewsAging, Immigration, Labor Market, Taiwan

10JulJuly 10, 2024

A holistic approach needed for reforming Iraq’s pensions system in line with international labour standards

A pension system is at the heart of social protection. By ensuring income security for older persons and other vulnerable groups, it prevents poverty, reduces inequality, and smooths consumption. A pension system also affects the working population’s labour market choices and has important fiscal implications. In spite of important legal reforms, poor implementation and asymmetries between public and private sector make Iraq’s current pension system is highly fragmented, inequitable, and inefficient. The pension coverage gap in old age is projected...

July 10, 2024

NewsIraq, Pension Reform

09JulJuly 9, 2024

US. Employer group urges Congress to increase retirement plan awareness for gig workers

In response to a request for information on June 5 from Senator Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor and Pensions (HELP) Committee, for ways to allow gig workers access to retirement benefits, the American Benefits Council (ABC) has responded. The employer group sent a letter, including suggestions introduced in the SECURE 2.0. legislation, as well as pooled employers plans (PEPs) established by Congress. "The vast majority of independent workers prefer alternative work arrangements to traditional...

July 9, 2024

NewsCoverage, Informal Sector, US

July 2024