News Archives - Page 315 of 954 - Pension Policy International

24MayMay 24, 2023

US. House passes bill requiring Treasury report on economic risks from China

The House overwhelmingly passed a bipartisan bill that would require the Treasury Department, along with several federal regulators, to issue a report on risks posed to the U.S. by China's financial sector. In a 400-5 vote, the House passed the China Financial Threat Mitigation Act of 2023 Monday, introduced by Reps. Abigail Spanberger, D-Va., and Roger Williams, R-Texas. The bill directs the Treasury secretary — in consultation with the chairmen of the Federal Reserve, SEC, Commodity Futures Trading Commission and the...

May 24, 2023

NewsInvestment, Regulation, US

24MayMay 24, 2023

Asset owners, managers sign biodiversity pledge

Stichting Pensioenfonds ABP, Heerlen, Netherlands, joined 14 asset owners and managers signing the Finance for Biodiversity Pledge Monday to commemorate World Biodiversity Day. The pledge calls for signatories to commit to map their biodiversity impact, set goals and targets, and disclose the results before 2025, along with collaboration and engaging with companies to halt and reverse nature loss. The €480 billion ($528.9 billion) pension fund is now one of 140 signatories representing a collective €19.7 trillion in assets from 23 countries. Other...

May 24, 2023

NewsESG, Pension Management

23MayMay 23, 2023

US. Major pension funds are steering big dollars to infrastructure

Major U.S. pension funds are increasingly turning to infrastructure for its solid risk-adjusted return profile and strong performance resilience. Since 2011, Pensions & Investments has tracked more than 950 infrastructures hires totaling more than $134 billion committed, paced by 148 hires and $17.7 billion committed in 2021. Maine Public Employees Retirement System, Augusta, is also drawn to infrastructure due to its ability provide diversification from the plan's public and private equity and fixed-income assets, said William Proom, managing director of investments...

May 23, 2023

NewsInvestment, Pension Management, US

23MayMay 23, 2023

China continues to raise basic pension payments for retirees

China announced Monday that it will raise the basic pension payments for retirees in 2023, marking 19th consecutive annual increase. The average monthly payment for pensioners of enterprises, government agencies and public institutions is set to be lifted by 3.8 percent from the 2022 level, according to a circular jointly issued by the Ministry of Human Resources and Social Security and the Ministry of Finance. Last year, China raised the basic pension payments for retirees by 4 percent from level of...

May 23, 2023

NewsChina, Social Protection

23MayMay 23, 2023

Nigeria. PenCom registers 95,000 informal sector operators on CPS

The National Pension Commission (PenCom) said it has registered 95,045 participants on the Micro Pension Plan (MPP) of the contributory pension scheme (CPS) and recorded a total contribution of over N435.6 million as of last month. Head of the Micro Pensions Department, National Pension Commission (PenCom), Dauda Ahmed, said this in Lagos, at a workshop organised for Labour Writers’ Association of Nigeria (LAWAN). Ahmed, who spoke on ‘Facilitating Financial Inclusion in the Informal Sector through the MPP’, said the total withdrawals...

May 23, 2023

NewsNigeria, Pension Management, savings

23MayMay 23, 2023

Aging population presents opportunity for travel sector, says leading economist

An aging global population presents an opportunity for the travel sector to exploit, according to a leading economist. Speaking at The Advantage Travel Partnership’s annual conference in Benidorm, professor Trevor Williams shared a positive outlook for the industry despite the global economic uncertainty. The former chief economist for Lloyds Bank told delegates that living standards across the world are increasing and people are generally “consuming more than ever before”, as he highlighted how rising life expectancy could favour travel agents and operators. “Global...

May 23, 2023

NewsAging

23MayMay 23, 2023

Institutions boost exposure to private credit

Institutional investors' private debt allocations are ticking up at a time when public fixed-income returns are at a 20-year high, and higher interest rates and economic risks threaten borrowers. Many investors are accepting illiquidity and other risks in exchange for the diversification, income and, potentially, greater long-term returns than they expect from public fixed income. With long lockups, investors are betting that an economic downturn won't cause borrowers to go bankrupt and that interest rates will fall, easing the stress of...

May 23, 2023

NewsInvestment

22MayMay 22, 2023

US. Divesting fossil fuels looms larger for more funds

As the race toward renewable energy and away from fossil fuels to address climate change heats up, more pension funds may look at divestment, willingly or otherwise. According to a divestment commitment database maintained by Stand.earth, a climate action advocacy group, 1,591 organizations worldwide with a collective $40.51 trillion in assets have publicly committed to some level of fossil fuel divestment. Pension funds represent 11.7% of those commitments, compared with 35.8% from faith-based organizations, 15.7% from educational institutions and 11.9%...

May 22, 2023

NewsESG, Investment, Pension Management, US

22MayMay 22, 2023

UK. Treasury to bear risk of unfunded legacy public sector schemes

A policy paper published on 15 May states that the cost control mechanism (CCM) for new public sector schemes will exclude those legacy schemes closed to new members. Following a review by the government actuary and a series of consultations, the government will now bear “full risk” of costs related to unfunded legacy schemes, which includes civil servants, teachers and NHS staff. The paper states: “The government believes this is the right approach to take in order to ensure the CCM...

May 22, 2023

NewsFunding, Risk, UK

22MayMay 22, 2023

Canadian public pension fund investments in China draw heightened scrutiny

Investments in China by Canada's largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China's Uyghur minority. Recently, representatives of the Ontario Teachers' Pension Plan and the British Columbia Investment Management Corporation, which manages the pensions of B.C. public sector workers, told a parliamentary committee studying Canada-China relations that they had paused new direct investment in China because of the increasing risks...

May 22, 2023

NewsCanada, China, Investment

May 2023