News Archives - Page 312 of 981 - Pension Policy International

30AugAugust 30, 2023

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

NewsESG, Investment, US

30AugAugust 30, 2023

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

NewsClimate crisis, Investment, Pension Management, UK

30AugAugust 30, 2023

Ghana Restructures $4 Billion in Latest Domestic Debt Exchange

Ghana agreed to terms to swap about $4 billion of domestic debt, taking another step toward meeting its obligations under an International Monetary Fund bailout. The results imply Ghana achieved about 95% target under the latest three debt exchange deals. The country’s Eurobond maturing in 2032 declined by 0.2 cents on Wednesday to 43.7 cents on the dollar. Notes maturing in 2051 dropped by a similar amount to 42 cents on the dollar. Pension funds agreed to exchange 29.6 billion cedis ($2.6...

August 30, 2023

NewsGhana, Political economy

30AugAugust 30, 2023

Dutch pension funds slash €28bn of Asian investments

Sales and losses have led to allocations to the region falling by more than a fifth in 15 months. Allocations to Japan, and Taiwan were the most affected, according to central bank data. A combination of sales and losses have seen Dutch pension fund allocations to Asia fall by €27.5 billion ($30.3 billion) since the last quarter of 2021. Asia allocations by the industry in the first quarter of 2023 totalled €106.6 billion, down from €134.1 billion 15 months earlier, a...

August 30, 2023

NewsAsia, Investment, Netherlands, Pension Management

29AugAugust 29, 2023

US. North Carolina Retirement Systems discloses $500 million in commitments

North Carolina Retirement Systems, Raleigh, committed a total of $500 million to private equity and inflation-sensitive asset funds. The $114.6 billion pension fund disclosed the commitments in a report included with the Aug. 23 investment advisory committee meeting materials on the website of Dale R. Folwell, state treasurer and sole trustee of the retirement system. The commitments closed in June and July of this year, according to the report. Within private equity, NCRS committed $150 million each to Hg Titan 2...

August 29, 2023

News, UncategorizedInvestment, Pension Management, US

29AugAugust 29, 2023

Labour unions push to raise retirement age in greying South Korea

South Korean labour unions are battling company managements to press an unusual demand: raising the age of retirement to give workers a few more wage-earning years before having to seek another job to supplement slim pensions. The issue fuels a contest for jobs between older workers among one of the world's fastest-ageing populations, with a rate of poverty among its elderly of three times the OECD average, and young workforce entrants facing dwindling options. "Having to move to low-quality jobs after...

August 29, 2023

NewsAging, Retirement Age, South Korea

29AugAugust 29, 2023

Helping people overcome their lack of ‘longevity literacy’

Longevity risk continues to be a hot topic for advisors, especially as their clients continue to suffer from a lack of “longevity literacy.“ The TIAA Institute and the Global Financial Literacy Excellence Center at the George Washington University School of Business released data last week showing that American adults are overwhelming unaware of both their potential lifespans and the amount of money needed to cover them. Respondents were asked to identify the likelihood among 65-year-olds of living to 90 and the likelihood of...

August 29, 2023

NewsFinancial Literacy, Longevity

29AugAugust 29, 2023

Examining the Effects of Changes to UK Auto-Enrollment

Eliminating the U.K. trigger for auto-enrollment into workplace pension contributions—which currently requires an individual earn more than 10,000 pounds per year—would have a significant positive effect on the retirement outcomes for 90% of individuals, new research shows. However, the change mulled over by lawmakers across the pond may also have a negative impact on a small but considerable segment of the population, according to modeling and research commissioned by the Pension and Lifetime Savings Association and carried out by...

August 29, 2023

NewsBehavioral Science, Pension design, UK

28AugAugust 28, 2023

US. IRS Postpones Rule That Hit Older, High Paid 401(K) Savers-And Their Employers

The IRS is again pushing off a start date for new legislation by introducing a transition period. Earlier, the IRS declared a one-year delay in the new reporting requirement for Forms 1099-K. The IRS has now announced an administrative transition period for the new catch-up contribution requirements under the SECURE 2.0 Act. The new rule requires older, higher paid 401(k) participants to make their catch-up contributions into after-tax Roth accounts, instead of pre-tax traditional accounts. Congress meant for it to take...

August 28, 2023

NewsRegulation, savings, US

28AugAugust 28, 2023

Zimbabwe: Pensioners Drown in Poverty As Companies Hold on to $47 Billion Deductions

HAVING grown up in the rural community of Chiriseri in Bindura South, Backdoor Mhunza says he witnessed the disgusting twist of circumstances which can ensue one in his old age due to reduced incomes. From experience, Mhunza could tell how chronic diseases may end up escalating among the aged who find themselves helpless and struggling to meet their basic needs, let alone paying for their medical treatment. Such childhood lessons left lasting impressions and since primary school Mhunza vowed that the...

August 28, 2023

NewsPension Management, savings, Zimbabwe

August 2023