News Archives - Page 263 of 954 - Pension Policy International

14NovNovember 14, 2023

Austrian pension funds to lose 7.5% in asset value due to climate risks

The value of assets in the portfolios of Austrian pension funds would decrease by approximately 7.5% in the event of an unexpected increase of the price of CO2 emissions through additional taxes to make fossil fuel investments less attractive, according to a stress test conducted this year by the by Austria’s Financial Market Authority (FMA). This is an improvement from last year’s test showing a 10% loss in asset value. Read also German government drafts law to reform second pillar pension system This year’s...

November 14, 2023

NewsAustria, ESG, Returns

13NovNovember 13, 2023

US. UAW goes all in on building Cadillac DC plans for members

The United Auto Workers' talks last month with Ford, General Motors and Stellantis concluded without the long-shot reopening of the "Cadillac" defined benefit plans that union executives had targeted. Instead, the union won enough concessions to make members' defined contribution plans a plausible alternative for securing a comfortable retirement. Analysts say the surprisingly strong deal the UAW secured in those talks from U.S. automakers for member 401(k) accounts could elevate the prominence of DC-related demands in future collective bargaining talks. The...

November 13, 2023

NewsLabor Market, Pension design, US

13NovNovember 13, 2023

UK pension funds step in to build affordable homes

The UK’s pension funds are increasingly stepping in to build affordable homes as the housing crisis worsens. Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, is the latest to enter the market. It is building 125 affordable homes in Kingston upon Thames, south-west London, in partnership with the developer London Square and its affordable housing subsidiary, Square Roots The £50m project, which is due to be completed by November 2025, is backed by a £4.9m grant from the...

November 13, 2023

NewsESG, Investment, UK

13NovNovember 13, 2023

Kenyan Aging Study Aids Sub-Saharan Africa’s Population Shift

The population of Africa is the youngest in the world-but that is expected to change rapidly in the coming decades. Over the next three decades, the proportion of older Africans will triple across the continent. This population will nearly quadruple in Kenya, one of the most rapidly aging countries in Sub-Saharan Africa. And yet demographers report that robust longitudinal data to address the economic and health-related consequences of this demographic transition are largely missing. The Longitudinal Study of Health and Ageing in Kenya (LOSHAK), a...

November 13, 2023

NewsAfrica, Aging, Kenya

10NovNovember 10, 2023

U.S. Population Will Start Shrinking by 2100, Census Bureau Forecasts

The population of the U.S. will climb to about 370 million in 2080 before reversing course and starting to fall before the turn of the century, according to a new Census Bureau projection. By 2100, the U.S. will have a population of around 366 million people, unless immigration continues to climb each year, in which case the population could reach as high as 435 million, the bureau forecas U.S. House Votes to Censure Rep. Rashida Tlaib Over Israel Stance In the implausible...

November 10, 2023

NewsAging, Labor Market, US

10NovNovember 10, 2023

UK. DB pension surpluses remain broadly stable

Defined benefit (DB) pension surpluses remained broadly stable during October, registering a slight decrease, but remaining elevated compared with recent years, according to XPS Pensions Group’s latest DB:UK funding tracker. The consultancy's tracker tool estimated that the aggregate surplus of UK pension schemes, when measured on a long-term target technical provision basis, stood at about £184bn on 31 October, which translates into an aggregate funding level of 115 per cent. A moderate 0.1 per cent rise in long-term gilt yields led...

November 10, 2023

NewsDefined Benefit, UK

10NovNovember 10, 2023

3 Factors That Affect People’s Retirement Planning Decisions

A whopping 95 per cent of respondents “adhere” to their retirement plan, while 54 per cent follow it precisely, and 41 per cent miss out on a few aspects occasionally, according to the PGIM India Mutual Fund Retirement Readiness Survey 2023. Sixty-seven per cent have a retirement plan in place, while 63 per cent believe they have a comprehensive one. Regardless of a retirement plan, fixed deposits (FD) are the most preferred investment vehicles among the respondents. FDs bagged the top place in the survey, followed...

November 10, 2023

NewsRetirement Planning

10NovNovember 10, 2023

All registered monks, nuns in Xizang covered by healthcare, pension schemes: official

Southwest China's Xizang Autonomous Region is providing medical insurance, pension schemes, subsistence allowances, and accident injury insurance, and covering health check expenses for all registered monks and nuns in the region, said the head of the regional government at a press conference on Friday. This is a ground-breaking achievement in the history of Tibetan Buddhism, said Yan Jinhai, chairman of Xizang's regional government, adding that as a result, registered monks and nuns are now entitled to receive pensions for the...

November 10, 2023

NewsChina, Coverage

09NovNovember 9, 2023

Public Retirement Systems Need Sustainable Policies to Navigate Volatile Financial Markets

Over the past decade, policy reforms and increased financial contributions have dramatically improved the cash flow situation of some of the nation’s most troubled state pension plans. Thanks to these changes, which include reforms to benefit designs, a commitment to fiscal discipline, and greater monitoring of the financial health of public retirement systems, no state is at risk of pension plan insolvency. Nevertheless, many states still have more to do to ensure the long-term sustainability of pension promises. As recently...

November 9, 2023

NewsInvestment, Regulation, US

09NovNovember 9, 2023

UK pensions minister urged to encourage schemes to invest in sustainability

LCP and Pensions for Purpose have written an open letter to UK pensions minister Laura Trott calling for investment in social and environmental sustainability and for intergenerational inequality to be at the heart of planned pension reforms. In July’s Mansion House speech, the chancellor of the exchequer Jeremy Hunt introduced a number of measures aimed at unlocking the growth potential of UK defined benefit (DB) schemes. LCP and Pensions for Purpose are urging the government to encourage pension schemes to invest more in areas...

November 9, 2023

NewsESG, Investment, Regulation, UK

November 2023