News Archives - Page 244 of 953 - Pension Policy International

29JanJanuary 29, 2024

UK. Privately educated adults ‘more likely to have learned about pensions at school’

People who attended a private school are more likely to say they learned about pensions at school (20%) than those who were state-educated (6%), a survey has indicated. More than two-fifths (42%) of privately educated 35 to 44-year-olds said they reviewed or reassessed their pension pot at least once a year, compared with less than a fifth (17%) of state school-educated peers of the same age. Privately educated people were also more likely to hold private pensions outside of employment-linked pensions (40%),...

January 29, 2024

NewsAdequacy, Financial Education, Financial Literacy, Income, UK

26JanJanuary 26, 2024

Funding ratio of largest U.S. public pension plans hits 78.2% at year-end – Milliman

The overall estimated funding ratio of the 100 largest U.S. public pension plans reached 78.2% at the end of December, the highest level of 2023, according to the Milliman 100 Public Pension Funding index. After three straight months of declines due to negative market returns in August through October, the estimated ratio rose for the second straight month in December. As of Nov. 30, the estimated ratio has risen to 75.9% from 72.4% at the end of October. The late-year rally...

January 26, 2024

NewsFunding, Public Pensions, US

26JanJanuary 26, 2024

Measuring the unintended consequences of public pension fund disinvestment from fossil fuel companies

Environmentalists are pursuing new strategies to pressure major polluters to decarbonise, including calling for widespread disinvestment from companies currently in the fossil fuel business. This column presents evidence that this strategy may be misguided. Focusing on public pension funds in the US, the authors find that companies reduced their greenhouse gas emissions when stock ownership by green funds increased, and did not alter their emissions when ownership by non-green funds changed. Ownership and constructive engagement were more effective than...

January 26, 2024

NewsClimate crisis, Investment

26JanJanuary 26, 2024

China promotes full implementation of private pension system

China will promote the full implementation of a private pension mechanism that has already been introduced in 36 cities and regions, the Ministry of Human Resources and Social Security announced Wednesday. At a press conference held in Beijing, the ministry said the system has been running smoothly and "positive progress" has been made since its introduction in 2022, adding that more than 50 million people have opened accounts to participate in the mechanism. The mechanism allows Chinese citizens to contribute up...

January 26, 2024

NewsChina, Private Pensions

25JanJanuary 25, 2024

Chile Lower House Approves Base Text of President Gabriel Boric’s Pension Reform

Chile’s lower house of Congress approved the base text of President Gabriel Boric’s pension reform, while rejecting a key clause, damping government celebrations over one of its few legislative victories. Lawmakers backed the legislation on Wednesday by 84 votes to 64, but went on to reject a proposal over the destination of funds from a new employer pay-in as they subsequently voted on the bill article-by-article. The vote still advances one of Boric’s marquee proposals and gives temporary respite to a...

January 25, 2024

NewsChile, Pension Reform

25JanJanuary 25, 2024

Savers at risk from UK’s pension ‘pot for life’ plan, industry leaders warn

Critics say government proposal for single, career-long retirement funds could leave individuals worse off A proposed shake-up of the UK’s pension market to give millions of workers the right to choose a retirement “pot for life” risks leaving savers worse off, industry leaders and unions have warned. In last year’s Autumn Statement economic plan, the government issued a call for evidence on a “lifetime provider” model, which would allow consumers to stick with one pension pot throughout their career. Currently employers are...

January 25, 2024

NewsPension design, savings, UK

25JanJanuary 25, 2024

Kenya. Pensioners in tears over their delayed gratuity

“I regret having ever worked for the government,” says Mama Pauline Kiragu before she falls into deep silence. This is the cry for justice for millions of aging Kenyans — who worked in the civil service — waiting for pension payments running into billions of shillings. After many years of toil, most of them have retired home lonely fighting vagaries of old age, sickly, weak, dependent and poor. Thousands are unable to access their savings for upkeep and medical care. Others have...

January 25, 2024

NewsKenya, Pension Payout, Public Pensions

25JanJanuary 25, 2024

Money managers divided over Chinese equities

Global money managers are split as to whether buy signals are flashing for China stocks right now, even as they agree the equity market does look cheap. The gap between Chinese company market capitalizations and the U.S. stock market was $42.5 trillion as of market close Jan. 23, based on Pensions & Investments' calculations using Bloomberg data. Bloomberg reported Jan. 23 that Chinese stocks have lost more than $6.3 trillion in value from a February 2021 peak, vs. a $5.3 trillion...

January 25, 2024

NewsChina, Investment, Pension Management, US

24JanJanuary 24, 2024

UK pension funds turn to renewable energy investment

UK pension funds and insurers are keen to increase allocations to renewable energy in the coming years, according to new research. A survey by AlphaReal, a specialist real assets manager, found that a majority of pension funds and insurers planned to increase their allocation to renewable energy in the next year. The survey, which included institutions with a combined £360bn in assets under management, found that 90% of respondents planned to increase their allocation to renewables, with the remaining 10% open...

January 24, 2024

NewsClimate crisis, Investment, Pension Management, UK

24JanJanuary 24, 2024

US. IRS Announces Modest Changes To Retirement Plan Contribution Limits

In response to the current inflationary environment, the Internal Revenue Service announced a modest increase in the maximum contribution limits for 401(k)s and Individual Retirement Accounts for 2024. This year, 401(k) savers can contribute a maximum of $23,000, marking an increase of over 2% from the $22,500 limit set for 2023. The new contribution limit, effective from January 1, 2024, applies to 401(k) plans, along with 403(b) plans, most 457 plans, and the Thrift Savings Plan for federal employees. Despite being less...

January 24, 2024

Newssavings, US

January 2024