News Archives - Page 226 of 953 - Pension Policy International

05AprApril 5, 2024

UK: FCA to examine asset management fees, pensions

The UK’s Financial Conduct Authority is to launch a market study on asset management to examine charges paid by investors, the regulator said on Tuesday, as it laid out its business plan for the coming year. Other areas of focus include examining whether pension firms are helping consumers make the right choices, following an overhaul announced in 2014 which eased requirements on people to buy annuities as part of their pension. “The business plan is set against the backdrop of the...

April 5, 2024

NewsPension Management, Regulation, UK

04AprApril 4, 2024

US. NYC Pensions Reach Deal With RBC to Publish Green-Funding Ratio

New York City retirement plans reached an agreement with Royal Bank of Canada for the lender to disclose how much financing it provides for clean-energy projects relative to fossil fuels. Canada’s largest bank is the third financial giant to agree to begin disclosing the ratio after New York Comptroller Brad Lander and the city’s public-pension boards filed shareholder resolutions with six banks in January. The proposal was set to be voted upon at Toronto-based Royal Bank’s annual meeting next week. “We’re...

April 4, 2024

NewsClimate crisis, ESG, Investment

04AprApril 4, 2024

UK. The Pensions Regulator unveils fresh 2030 climate targets

UK regulator plans to focus on cutting gas, electricity, business travel, water and waste emissions in short term on course to achieving net zero across its operations and supply chain by 2050 The Pensions Regulator (TPR) has unveiled a suite of fresh climate targets, including a goal to slash its operational greenhouse gas emissions by 90 per cent by the end of the decade compared to 2017/18 levels. The UK regulator, which set out its first climate change strategy three years...

April 4, 2024

NewsClimate crisis, Regulation, UK

04AprApril 4, 2024

Nigeria. Abia State Government to Introduce Contributory Pension Scheme for Civil Servants

The Abia State Government, under the leadership of Governor Otti, has announced plans to implement a Pension Contributory Scheme for its civil servants. Mr. Okey Kanu, the Commissioner for Information and Culture, made this revelation during a press briefing following the State Executive Meeting held at the Government House, Umuahia, on Tuesday. According to Kanu, the state government has made significant progress in preparing for the transition to the new pension scheme. He stated, “The state government has concluded plans to...

April 4, 2024

NewsNigeria, Public Pensions

03AprApril 3, 2024

53% of Americans surveyed feel they are behind on retirement planning and savings, CNBC poll finds

CNBC's International Your Money Financial Security Survey polled about 500 people each in nine countries. Of the 498 people surveyed in the U.S., more than half (53%) said they're behind schedule in retirement planning and savings. The poll was conducted by SurveyMonkey. "I think most Americans do struggle to save enough for retirement," said David Blanchett, a certified financial planner and head of retirement research for PGIM, a money manager. As part of its National Financial Literacy Month efforts, CNBC will...

April 3, 2024

News2024, Retirement Planning, savings, US

03AprApril 3, 2024

UK: Pensions Regulator: Chief Executive Outlines Changing Role Of Regulator

On March 12, 2024, the Chief Executive of the Regulator, Nausicaa Delfas, delivered a speech on the changes to the pensions sector and how the Regulator is responding. The speech addresses the growing influence of scheme consolidation across both DB and DC schemes, the changing role of trustees in producing transparency and value for members, the emergence of superfunds and the broadening powers of the Regulator around compliance, oversight and analysis. On the Government's Mansion House reforms, the Regulator believes that productive assets...

April 3, 2024

News2024, Regulation, UK

03AprApril 3, 2024

Serbian voluntary pension funds’ assets rise 11.5% y/y at end-2023

The net assets held by voluntary pension funds (VPFs) in Serbia rose 11.5% on the year to 53.8 billion dinars ($495 million/461 million euro) at the end of 2023, the country's central bank, NBS, said. The volume of net assets was up 2.7% compared to the end of September, NBS said in a statement on Monday. At the close of December, the majority of VPF assets were allocated to government securities, comprising 70%, with balances in custody accounts and bank time...

April 3, 2024

News2024, savings, Serbia, Voluntary Savings

03AprApril 3, 2024

Insurance executives mixed on recession outlook — GSAM survey

Half of insurance company executives see the U.S. entering a recession in the next two to three years and credit quality deteriorating, but they still have a zeal to increase credit risk, according to Goldman Sachs Asset Management's 13th annual global insurance investment survey. The survey of 359 global senior investment and finance professionals in the insurance industry shows 50% believe the U.S. will enter a recession in the next two or three years, although that sentiment varies by region....

April 3, 2024

NewsPolitical economy, Risk, US

02AprApril 2, 2024

UK. Pensions dashboard deadline confirmed

The Department for Work and Pensions (DWP) has published its pension dashboard guidance, revealing that the new deadline for pension firms to provide a connected service is due to fall on 31 October 2026. First mooted in 2016, the pensions dashboard scheme seeks to provide a single touchpoint for people to find and interact with their state, employer and private pensions. The new guidance, published in late March 2024, sets out a staged timetable for pension schemes to connect to the...

April 2, 2024

NewsOccupational Pensions, UK

02AprApril 2, 2024

US. Unisys Announces $200M Pension Risk Transfer

IT technology company Unisys Corp. announced Monday it has closed an agreement with F&G Annuities & Life Inc. to purchase group annuity contracts. The agreement, which closed on March 28, will see Unisys transfer $200 million in pension liabilities from its U.S. defined benefit plan to the insurer. F&G will assume responsibility for paying out pension benefits to 3,800 Unisys retirees and beneficiaries. Notably, this is the sixth Unisys pension risk transfer transaction since January 2021, and it has contracted...

April 2, 2024

NewsOccupational Pensions, PRT, US

April 2024