January 2024
16Jan

UK Pensions Regulator’s new code of practice offers more flexibility for schemes

A new general code of practice issued by the UK Pensions Regulator (TPR) should help improve the operation of pension schemes and manage risk for both members and trustee boards, an expert has said. which consists of 51-topic based modules- has been laid before parliament and is expected to come into force on 27 March. TPR recently published its final response to a consultation on the new code, explaining some of the main changes compared to previous drafts. Its aims...

January 16, 2024
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16Jan

China Unveils Extensive ‘Silver Economy’ Plan to Adapt to Aging Population

China’s is rapidly getting grayer, and amid unsuccessful attempts to boost languishing birth rates, the country has now unveiled plans to reorient a significant part of its massive economy around its aging population. China’s State Council on Monday unveiled a series of measures to promote the “silver economy,” calling on both state-owned and private enterprises to better cater to the elderly and announcing plans to develop 10 industrial parks and increase public and private investments and innovation in elderly products...

January 16, 2024
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16Jan

Canada: Understanding Cyber Risks For Pension Plan Administrators, ACPM

As pension plans are increasingly relying on technology in their administration, there is a corresponding focus on keeping plan assets safe and protecting the rights and interests of plan beneficiaries. Pension plans involve significant amounts of confidential, personal data and assets, making them targets for criminal activity. Pension plan administrators and sponsors are expected to be prepared to recognize, prevent or minimize damage in the event of harm from cyber risks. What this means for how pension administrators discharge their...

January 16, 2024
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16Jan

Data Shows That Saving for Retirement Isn’t a Popular New Year’s Resolution. Here’s Why.

Now on the one hand, it's easy to see why a goal like paying off debt might trump funding a 401(k) or IRA. If you're staring at a credit card balance with a 20% interest rate attached to it, you're going to want to do your best to knock out that debt as soon as possible. Similarly, if you have no money (or little money) set aside for emergency expenses, then it's easy to see why you'd first work...

January 16, 2024
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15Jan

Investors ‘flying blind’ into legal risk of climate change, Oxford researchers warn

As investors assess climate-related financial risk, they are "flying blind" to the risk of climate lawsuits that could hit companies with trillions in damages, according to a research report from Oxford Sustainable Law Programme published Jan. 11 in Science. The Oxford Sustainable Law Programme is a joint initiative of the Smith School of Enterprise and the Environment and the Faculty of Law at the University of Oxford, England. Current practices used by investors to assess the financial risk of climate change...

January 15, 2024
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15Jan

Egypt to increase minimum wages, pensions within two months: Official

Sabry added that this move aims to alleviate the impact of the global economic situation on the public, especially with the approach of the holy month of Ramadan. “This step aligns with President Abdel Fattah El-Sisi's directives to support citizens and alleviate their financial burdens, given the unprecedented rise in price levels and inflation,” Sabry added in a phone call with the Salet El-Tahrir TV show on Sada El-Balad channel. The anticipated wage increases will be the third in a year. Egypt’s headline...

January 15, 2024
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15Jan

Expanding the conversation about aging

Many issues facing older adults intersect with other social inequalities, but experts often fail to keep the experiences of historically underserved communities in mind when discussing aging. Since 2020, the MIT AgeLab’s Aging and Equity Speaker Series has sought to bring together researchers, advocates, and practitioners who aim to understand how aging-related issues affect a broad array of communities. “We think it’s important to offer a platform at MIT that amplifies the work of researchers who are thinking about issues like...

January 15, 2024
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15Jan

Ghana. SSNIT to intensify campaign to enrol more self-employed

The Social Security and National Insurance Trust (SSNIT) is to intensify its initiative aimed at roping in more informal sector and self-employed persons in Ghana onto the state-run Tier One pension scheme. Riding on the successes of last year when it launched the Self Employed Enrolment Drive (SEED), SSNIT believes that a more aggressive approach to push the initiative will attract more people in that bracket to secure them a better future when they retire. The Director-General of SSNIT, Dr John...

January 15, 2024
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12Jan

UK. Six key pensions issues and trends in 2024: How many will affect you?

Here are our thoughts on the key issues and trends for pension scheme employers and trustees in 2024. The year ahead will see some major changes to pensions law, with the abolition of the pensions lifetime allowance from 6 April 2024 as well as the introduction of a new funding regime for defined benefit schemes. We also consider the broader market trends we are seeing in relation to scheme surpluses, buy-outs, and a focus on the "end game" for...

January 12, 2024
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12Jan

US. Pension Plans in ’23: Glass Half Full—and Half Empty

“Best condition this century.” Or, “improved” but “fragile.” Both characterizations of the state of pensions in 2023. Which applies depends on which pension system one is talking about. Better, But… State and local pension plans saw improvement in 2023, but there is still plenty of room for more, according to Anthony Randazzo and Jonathan Moody in Equable’s research brief “The State of Pensions 2023,” which looks at how public pensions fared in the year that was. Randazzo and Moody write that the...

January 12, 2024
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