News Archives - Page 298 of 954 - Pension Policy International

21JulJuly 21, 2023

Kenya: Local Infrastructure Projects Seek Over Sh700bn Financing From Pension Industry

The Kenya Pension Funds Investment Consortium (KEPFIC) has received infrastructure and alternative investment proposals worth over Sh700 billion ($5.5 billion) from project sponsors and fund managers looking to raise capital from the local retirement benefits schemes. The proposals come as local pension schemes expand their search for suitable investments to provide diversification and higher returns for pensioners. The announcement was made during the opening of the two-day KEPFIC Annual Investment Conference in Nairobi today, where the shortlisted investment opportunities were presented...

July 21, 2023

NewsInvestment, Kenya, Pension Management

20JulJuly 20, 2023

US. The debate over ESG and retirement plans continues

Part of the ongoing congressional debate over ESG centers on whether these factors should be considered as part of pension and retirement funds. Those of you expecting a resolution should prepare to exercise some patience. One of the most active representatives on the anti-ESG side of the debate is Rep. Andy Barr (R-Ky.), who introduced legislation targeting the use of ESG factors in retirement plan investments June 21. Barr has proposed changes to the Employee Retirement Income Security Act, which...

July 20, 2023

NewsESG, Investment, Sustainability, US

20JulJuly 20, 2023

Only 18% of Jamaican workers in a pension arrangement

Only 18 per cent of Jamaican workers are currently in a pension arrangement, a figure which needs to be increased if the country is to avoid a high rate of poverty among an ageing population in the future, according to local experts in the pensions industry. Sonya Goffe, President of the Pensions Industry Association of Jamaica (PIAJ) said the organisation’s mandate is to advocate for an increase in the number of Jamaicans who will receive a pension and to educate...

July 20, 2023

NewsCoverage, Jamaica

20JulJuly 20, 2023

US Public Pensions Invest Record $1.6 Trillion in Alternative Assets

US public pensions have boosted their exposure to private equity to $622 billion, the highest in at least two decades, as part of a push for higher investment returns, according to a new report by the Equable Institute. Private equity makes up 13% of the state and local retirement plans’ investments as of 2022, compared to 11% the prior year, according to the nonprofit research group, which cited the latest data available. Overall, alternative assets — like private equity, hedge...

July 20, 2023

NewsInvestment, Public Pensions, US

20JulJuly 20, 2023

UK’s Workplace Pension Provider, Smart Pension, Acquires Evolve Pensions

Smart Pension, which claims to be one of the UK’s leading workplace pension providers, announces its acquisition of Evolve Pensions, a provider in workplace pension services through its master trust the Crystal Trust. The acquisition will aim to “improve experience and provide efficiencies for the Crystal Trust’s employers and members, enabled by Keystone, the cloud-based global technology platform developed by Smart Pension’s parent company, the Smart group.” The Crystal Trust currently “has over 128,000 members and £750m in assets.” This is reportedly...

July 20, 2023

NewsPension Management, UK

19JulJuly 19, 2023

U.S. public pension funds unlikely to hit investment targets this year – report

State and municipal pension funds will likely miss their investment targets this year and will probably not see meaningful improvements in their unfunded liabilities or funding ratios, according to Equable Institute's "State of Pensions 2023" report released on Tuesday. Unfunded liabilities climbed to $1.57 trillion in 2022, bringing the national aggregate funding ratio to 75.4% due to negative investment returns, Equable said in a release issued in conjunction with the report. Equable now projects that the aggregate funding ratio for U.S....

July 19, 2023

News, UncategorizedInvestment, Public Pensions, US

19JulJuly 19, 2023

Hungary wants to curb pension rights of transgender women

From a hefty fine on a bookshop for selling a novel on which a hit Netflix series is based, to curbing the pension rights of transgender women, Hungary is toughening measures against the LGBTQ community, long a target of Prime Minister Viktor Orban. Meanwhile, a new government amendment is seeking to exclude transgender women from pension rules that allow women to retire earlier than men. "It is inconceivable that those who suddenly identify as women after 39 years of working as...

July 19, 2023

NewsEquality, Public Policy, Regulation

19JulJuly 19, 2023

Pensions, 54% of Italians fear that they are insufficient to live on. Private savings are essential

«I can’t wait to retire!..» How many times, and how many people, have they thought about saying “goodbye” to work, daily routine, stress and fatigue? If the moment of leaving the labor market is seen as a real liberation, in Italy there are those who think that it could become a far worse condemnation than meetings, phone calls, computers and shifts. Because on closer inspection the majority of men and women “in career” believe that they do not have,...

July 19, 2023

NewsAdequacy, Italy, Voluntary pensions

19JulJuly 19, 2023

US. ERISA Advisory Council Highlights Trends in Pension Risk Transfers

Shaun O’Brien, the chair of the ERISA Advisory Council, summarized many of the trends in the pension risk transfer market and commonly expressed concerns from pension fiduciaries and stakeholders at a hearing the council hosted Tuesday at the Department of Labor. The hearing was held to discuss possible changes to Interpretative Bulletin 95-1, which requires that pension fiduciaries select the safest annuity providers when executing pension risk transfers. Considering modifications to IB 95-1 was required by Section 321 of the...

July 19, 2023

NewsRegulation, Risk, savings, US

18JulJuly 18, 2023

US. New York City pension chief urges pay clawbacks at Bank of America

New York City's top pension official has urged Bank of America's (BAC.N) board to claw back pay from executives after the bank agreed to pay $250 million to settle regulatory claims that it double-charged customers and took other steps without authorization. Since the financial crisis of 2008, provisions to recover pay have been strengthened at top U.S. banks to limit risk-taking. Bank of America did not admit wrongdoing in its July 11 agreements with the Consumer Financial Protection Bureau (CFPB)...

July 18, 2023

NewsRegulation, US

July 2023