News Archives - Page 266 of 966 - Pension Policy International

15DecDecember 15, 2023

Annuities Are Back in Favour

"In an environment of high market volatility and high interest rates, life annuities are an option to consider again," says Spencer Look, director at the Morningstar Center of retirement and policy studies in Chicago. "Interest rates, he continues, are allowing annuity income levels not seen since the mid-2000s." The figures in Quebec confirm this, showing an increase of 17.7% between 2021 and 2022. Of the six main product categories listed in the 2022 Annual Report on Financial Institutions and Credit...

December 15, 2023

NewsIncome, Pension design, Pension Payout

14DecDecember 14, 2023

Retirement ages on the rise to protect pension systems, OECD says

Millions of people globally will have no choice but to work into their seventies to ease increasing pressure on pension systems as life expectancy rates continue to rise, the Organisation for Economic Co-operation and Development has said. OECD countries are moving to increase statutory retirement ages, curb early retirement and offer employees incentives to work longer to boost the sustainability of their pension systems, the Paris-based organisation said in its Pensions at a Glance 2023 report. “Governments have several tools available to further promote the employment and employability of...

December 14, 2023

NewsAdequacy, Retirement Age

14DecDecember 14, 2023

US. First LAX Strikes in 20 Years Pose Potential Fiduciary Risk for Public Pension Funds

Last week, hundreds of workers employed by PAI Partners-owned concessionaire, Areas USA, walked out on strike at Los Angeles International Airport, following workers’ first strike on November 21. PAI Partners is a private equity investment firm based in Paris, France. Workers’ decision to strike during the busy holiday season came after Areas has failed to agree to wage increases workers need to afford the soaring cost of housing in the Los Angeles area. "My coworkers and I are on strike because...

December 14, 2023

NewsPublic Pensions, Risk, US

14DecDecember 14, 2023

Nigeria. Pension coverage: Micro pension’s impact on informal sector (Part 1)

The Contributory Pension Scheme (CPS) is a vital initiative empowering individuals to secure their financial well-being in old age. Tailored initially for formal sector employees, the CPS was extended to include informal sector workers following the Pension Reform Act (PRA) amendment in 2014. Guided by the provisions of the PRA 2014, the National Pension Commission (PenCom) introduced the Micro Pension Plan (MPP) with the specific objective of broadening pension coverage to include workers in the informal sector. Under the MPP,...

December 14, 2023

NewsInformal Sector, Nigeria

14DecDecember 14, 2023

New EU gig worker rules will decide who should get benefits for full-time workers

In a bid to improve working conditions for people delivering food and offering rides through smartphone apps, the European Union on Wednesday gave temporary approval to rules that stipulate that Who should get the benefits of full-time employees and restrict online avenues? Platforms use algorithms to manage their employees. The European Parliament and the 27 EU member states agreed on a platform worker directive that took years to create. It aims to boost protections and benefits for the growing number...

December 14, 2023

NewsEU, Informal Sector, Social Security

13DecDecember 13, 2023

Developed Nations’ Public Pension Plans Dropped By Average of 15% in 2022

How bad was 2022’s market slide that hurt pension public pension plans in developed nations? Bad: They showed losses of about 15% on average, according to figures from an annual study by the Organization for Economic Co-operation and Development. The arrival of higher interest rates and inflation, as the world struggled out of the COVID-19 pandemic, led to significant losses in asset values in OECD countries, the report showed. Losses ranged from 21% in the U.K. and 18% in the Netherlands to 9% in...

December 13, 2023

NewsInvestment, Pension Management, Returns

13DecDecember 13, 2023

US. Study finds healthier funding status for DB plans raising interest in LDI strategy reviews

U.S.-based defined benefit pension plan sponsors are increasingly looking to assess their liability-driven investment strategies as they reach fully funded statuses, according to a new study by Coalition Greenwich and commissioned by Franklin Templeton. The study found nearly three-quarters (73 per cent) of pension plan sponsors reported funding ratios of 100 per cent or higher, while the rest had funding ratios above 110 per cent. Roughly half of respondents said they’re concerned about “substantial overlap in holdings” among their LDI...

December 13, 2023

NewsDefined Benefit, Funding, US

13DecDecember 13, 2023

UK. Govt urged to adopt new policies to take advantage of increased longevity

A new government should introduce a range of new policies on retirement, health and social care, to release a potential “longevity dividend” worth half a trillion pounds, as well as deliver a range of social benefits, according to the International Longevity Centre (ILC). Policies outlined in its new white paper include an auto-enrolment (AE) savings scheme to run alongside AE pensions, auto-escalation of minimum AE contributions, and ideas to help self-employed and gig economy workers save for retirement. Other ideas floated...

December 13, 2023

NewsAging, Longevity, UK

13DecDecember 13, 2023

This is what Canada will look like in 20 years – are we ready for an aging population?

The rapid growth expected among Canada’s senior population in the coming years is one of the “most significant demographic trends” in the country’s history, says demographer Doug Norris. While this growth may present some challenges for younger generations, industry experts say it will also offer opportunities to pave the way for a better future. Residents aged 65 and older are part of the fastest-growing age group in Canada today, said Norris, who is chief demographer at Environics Analytics, a marketing...

December 13, 2023

NewsAging, Canada

12DecDecember 12, 2023

U.S. pension funds heavily invested in China despite crackdown

U.S. proposals to clamp down on investments in China may be being undermined by continued funding from some of America's biggest institutional investors, new analysis shows. The majority of U.S. public pensions, as well certain universities and non-profit organizations, have committed funds to China and Hong Kong, including in sensitive technologies — some as recently as this year, according to a report by Future Union, a non-partisan trade organization. The 74 largest contributors have allocated more than $70 billion to companies...

December 12, 2023

News, UncategorizedChina, Investment, Pension Management, US

December 2023