July 2024
19Jul

Most US adults worry about future of Medicare, Social Security, Gallup poll finds: ‘Magnitude of concern’

Adults in the U.S. are more worried than ever about whether Medicare and Social Security benefits will be available when they need them. In response to a Gallup poll released in June, 75% of adults age 65 and younger said they are “worried” or “extremely worried” about lack of Medicare availability, according to a press release. When it comes to Social Security benefits, 80% of survey respondents said the same. HEALTH CARE IS ‘OVERWHELMINGLY COMPLEX’ FOR OLDER ADULTS, EXPERTS SAY: ‘EVER-INCREASING HURDLE’ Both of those percentages...

July 19, 2024
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19Jul

At world’s biggest asset managers, ESG fund launches quietly stalling

At some of the world’s biggest asset managers, ESG fund launches are quietly stalling. BlackRock, Deutsche Bank's DWS Group, Invesco and the asset management arm of UBS Group are among firms that have cut the number of new funds with environmental, social and governance mandates, according to data provided by Morningstar Direct. This year through the end of May, just over 100 ESG funds were launched globally, putting the industry on track to fall well short of levels seen in recent years, the...

July 19, 2024
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18Jul

What The U.S.’s Largest Pension Fund Can Teach About Investing Right Now

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. CalPERS, the California Public Employees' Retirement System, is the nation’s largest pension fund and one of the largest private equity investors in the world. With over two million members relying on its every move, the organization takes its investing very seriously. Its most recent report gives us a window on what is and isn’t paying off for it right now and what investors...

July 18, 2024
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18Jul

Hong Kongers fleeing to Britain leave $5.1b trapped behind

Emigration has been top of mind for many residents after Hong Kong’s government in March passed Article 23, a domestic security law. For those moving to the UK, not being able to access their pension money has palpable financial impacts. “With Article 23, there will be more people trying to leave Hong Kong, more people trying to get early withdrawals to build their new lives, and more denials,” said Ms Megan Khoo, research and policy adviser at British-based activist group...

July 18, 2024
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18Jul

Ghana. Editorial: Further engagement required to resolve outstanding issues on pensions

Following SSNIT’s decision to halt the sale of 60 percent of its shares in four hotels, a move leading to the suspension of a planned nationwide strike on Monday, July 15, 2024, Organised Labour has issued a one-month ultimatum for the Social Security and National Insurance Trust (SSNIT) to address unresolved issues. Dr. Yaw Baah, Secretary General-Trades Union Congress, speaking on behalf of Organised Labour, called-off the strike action after an emergency meeting of labour union leaders on Monday. Since 2018,...

July 18, 2024
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18Jul

Demographic crisis looms: UN warns S. Korea’s population to halve by 2089

The United Nations predicts South Korea’s population will shrink drastically to 25.85 million in 2089, roughly half its current 51.71 million. According to the UN’s latest population report released on July 17, South Korea’s population, currently at 51.71 million, will decline to 21.85 million by 2100, which is 42% of its present level. The UN forecasts that South Korea’s population will drop to the 40 million range by 2037, the 30 million range by 2060, and the 20 million range by...

July 18, 2024
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18Jul

PensionBee to enter US market

PensionBee Group plc, a prominent online pension provider, has announced the launch of its operations in the United States, the world’s largest Defined Contribution pension market. The move will see them enter the market which accounts for approximately 80% of the global total and boasts $22.5tn in assets. The company’s wholly-owned US subsidiary, PensionBee Inc., is now registered with the US Securities and Exchange Commission as an investment adviser. In May this year, PensionBee entered into a strategic agreement with State Street...

July 18, 2024
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17Jul

US. Rallying Stock Market May Help Public Pensions Reduce Shortfall This Year, Study Finds

KEY TAKEAWAYS State and local government-sponsored employer pension funds are projected to earn a 7.4% market return this year. However, these pension funds still face a long-run funding shortfall of more than $1 trillion, according to a new study by a nonprofit think tank working with the public retirement system. Public pension funds have increased their investments in hedge funds, private capital, and real estate to boost returns. It’s been a good year for pension funds. While public pension funds...

July 17, 2024
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17Jul

UK. The new Labour Government and pensions: the employer perspective

The Pensions & Lifetime Savings team here at Burges Salmon has been closely following the UK’s general election and recently posted this passle on what the pension industry should expect from the new Labour Government. But what are the particular implications for Employers? Ahead of tomorrow’s Kings Speech, which we hope will offer greater clarity on the new Government’s immediate pensions priorities, here are some thoughts on key topics that Employers should be looking out for: The DB Funding Code Scheme funding is of course...

July 17, 2024
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17Jul

Malaysia’s pension fund strengthens sustainable investment with new stewardship policy

The Employees Provident Fund (EPF), Malaysia’s pension fund, has published the EPF Sustainable Investment Stewardship Policy, becoming the first institutional investor in Malaysia to publish a standalone stewardship policy for sustainable investment. EPF said in a statement on Wednesday that the policy outlines the processes and guidelines the EPF follows to promote good sustainability practices among its investee companies and external fund managers. It said the stewardship undertaking has strengthened the EPF’s commitment to help build a better retirement future for Malaysians...

July 17, 2024
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