September 2023
01Sep

US. DOL auditing some multiemployer plans following PBGC aid, attorney says

The Department of Labor has sent investigative letters to several multiemployer pension plans that have received special financial assistance from the Pension Benefit Guaranty Corp. and had previously suspended benefits under a 2014 law, according to an attorney who works with such plans. Investigators with the Labor Department's Employee Benefits Security Administration are seeking information on plan policies and procedures related to special financial assistance as well as the makeup payments to participants and beneficiaries who experienced suspension of their...

September 1, 2023
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01Sep

Swiss pension funds consider high costs as main obstacle to invest sustainably

Swiss pension funds consider high costs arising from the integration of ESG standards into their investments as the main obstacle for the implementation of an effective sustainability strategy, according to a study consulted by the Swiss government. ESG investments require a certain amount of capital to deploy for research, as those strategies can be carried out internally or through the involvement of external service providers, mandating asset managers or advisors, or via the providers of ESG financial products, for example...

September 1, 2023
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01Sep

Canada’s largest pension fund trims staff as it puts China deals on hold

CPP Investments, Canada's biggest pension fund, has laid off at least five investment professionals at its Hong Kong office as it steps back from deals in China, three people with knowledge of the matter said. Most were on the fund's private equity team and were informed early last month, according to two of the people. The departures have not been previously reported. They added that a managing director who was in charge of the firm's Greater China real estate portfolio had...

September 1, 2023
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01Sep

The ‘S’ in ESG: What is the relevance for pension schemes?

Environmental, social and governance (“ESG”) issues are growing in importance and relevance for pension schemes. Action on ESG in the pensions industry has tended to focus on the “E” in ESG, and specifically on climate change. Less attention has been afforded to the other pillars of ESG, including the “S””. However, social factors should not be overlooked, as the law requires trustees to explain how they take into account financially material environmental, governance and social considerations. This blog post explores what...

September 1, 2023
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August 2023
31Aug

UK pension schemes could save £2bn in fees, research finds

UK pension schemes could save about £2bn from fees paid to asset managers without sacrificing returns, according to research that suggests price competition among institutional investors is failing to drive down costs. Asset managers often offer fee discounts to key clients such as pension schemes to win their business but details of these deals have historically been a closely guarded secret. The opacity of the market has led to wide variations in fees paid by pension schemes even when they are...

August 31, 2023
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31Aug

The Impact of Aging Demographics on Public Health Challenges

The global population continues to increase, although the growth rate has been gradually declining. Specific current population trends can vary depending on the region and country. Many developing countries experience higher population growth rates compared to developed nations. Many countries are experiencing an increase in the proportion of elderly individuals due to declining birth rates and improved healthcare leading to longer life expectancy. Population dynamics play a pivotal role in shaping the direction and challenges of public health initiatives. As...

August 31, 2023
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31Aug

China: Manulife-Sinochem Life launches its first private pension insurance plan

Manulife-Sinochem Life Insurance, China's first foreign joint venture life insurer, has introduced its No. 1 private pension insurance product to cater to the aging population. The Chinese JV of the Canadian financial giant launched the Worry-Free Retirement Pension Annuity which grows at an average compound annual rate of 3% if chosen to be received yearly, Yicai Global reported, citing a media statement from the Shanghai-based joint venture. Eligible participants can furthermore enjoy concierge services, as well as home-based or community-based care. "The introduction...

August 31, 2023
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31Aug

The answer to the problem of loneliness and ageism among older adults may lie in community resilience

Ageism and loneliness are two relevant public health issues, mainly affecting older adults' mental health. As the average life expectancy increases, these issues tend to coexist and may threaten the quality of life of older adults, particularly those with significant barriers. New research has shown that resilience could reduce the mental health effects of ageism and loneliness, but the impact on minority elders remains unclear. The U.S. Census Bureau reports that older adults, in general, will be more racially and...

August 31, 2023
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30Aug

Vanguard support for ESG shareholder proposals down from last proxy year

Vanguard funds supported only 2% of shareholder resolutions on environmental and social issues at its U.S. portfolio companies in its 2023 proxy year, down from 12% in the prior proxy year. The proxy year lasts from July 1 through June 30, according to a brief published by Vanguard's investment stewardship team on Monday. Specifically, Vanguard said that in proxy year 2023 the firm saw 359 environmental and social proposals put forward for a vote at its U.S. portfolio companies, up from...

August 30, 2023
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30Aug

UK pension funds write to prime minister over net-zero policies

A group of UK pension funds have written to the prime minister warning that recent public statements and policy decisions regarding the net-zero transition are impacting investor confidence. The group, which is comprised of 36 pension schemes and investment managers, that together hold £1.5trn of assets under management yesterday (29 August) wrote to the prime minister Rishi Sunak, warning that mixed messages from the government on its support for the net-zero transition are jeopardising billions of pounds of much needed...

August 30, 2023
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