August 2023
07Aug

Request to the federal government: New pensioners get an average of one hundred euros less

“Two-thirds would be against such an adjustment” This is the current opinion of Germans. Janina Mütze from the opinion research institute Civey explains what moves Germans when it comes to the following topics: Retirement, the danger of AI for jobs, the financial liability of politicians and border controls. Those who retired last received a hundred euros less than other pensioners. This emerges from a request from the left-wing faction to the federal government. New pensioners only received an average pension of...

August 7, 2023
News
Read more...
07Aug

Japan pension giant GPIF hits record profit of $133bn

Japan's Government Pension Investment Fund, one of the world's largest institutional investors, said on Friday that its profit in the first quarter ended in June hit a record high of 18.98 trillion yen ($133 billion), buoyed by sound performance in stock investment. This is the fund's highest-ever surplus for a quarter, surpassing the 12.48 trillion yen recorded in the April-June quarter of 2020. The return ratio was 9.49%. Gains by asset were 7.08 trillion yen on domestic stocks, 7.81 trillion...

August 7, 2023
News
Read more...
07Aug

Warning over new retirement system in South Africa

Old Mutual warns that the new two-pot retirement system, which will become operational next year, could negatively impact the entire purpose of retirement funds. From 1 March 2024, South Africans will be able to put their savings into two separate retirement pots. Up to one-third of all retirement contributions will go into a “savings pot”, which will be accessible once a year. A more standard “retirement pot” will receive at least two-thirds of the contributions made after 1 March 2024, which will...

August 7, 2023
News,
Read more...
07Aug

How 5 Of the World’s Largest Pensions Funds Invest to Combat Climate Change

A number of the world’s largest pension funds have taken significant steps in recent years to make their portfolios greener, according to a study created by a team of students from Columbia University’s School of International and Public Affairs, in collaboration with the World Bank and the Sustainable Finance Institute. The study zeroed in on how five of them have gone about reducing the climate risk of their holdings. All invest in renewable energy and have measures to assess how environmentally sensitive...

August 7, 2023
News
Read more...
04Aug

How trustees and employers can work together in response to higher inflation

Higher inflation has had a huge impact on everyday costs for many defined contribution scheme members. But inflation is not just something that affects scheme members today, it is something that will continue to impact their living standards into the future. And this means that the role of trustee has never been more important. Schemes are already struggling with the challenges that higher inflation is having on the way many of their members think. Many schemes are facing greater pressure...

August 4, 2023
News
Read more...
04Aug

New study explores how DB pension plan size impacts investment mandates, asset allocation

A new study looking at the implications of scale in defined benefit pension plans found size is key for several trends over time, including investment mandates, asset allocation and cost in returns. The research, ‘Scale Economies, Bargaining Power and Investment Performance: Evidence from Pension Plans‘ was recently awarded first prize in the International Centre for Pension Management’s 2023 Research Awards. The paper sourced data from CEM Benchmarking Inc., a Toronto-based consulting firm that collects information from a large cross-section of...

August 4, 2023
News
Read more...
04Aug

Pension rule changes could boost retirement income by £2,500 a year

Working Britons approaching their retirement could see their post-retirement pensions income get a £2,500 a year boost if the auto enrolment scheme were expanded. A study by the Pensions Policy Institute looked at what would be the effect if the low earnings limit for auto enrolment were scrapped. A person currently has to earn at least £10,000 a year to be put on auto enrolment but there are currently 3.17 million Britons who earn below this amount who would otherwise qualify,...

August 4, 2023
News
Read more...
04Aug

Germany’s New Pension Reforms: 6 Key Facts to Know

The German pensions system is set for a major overhaul, with a new focus on investments. This move, spearheaded by the traffic-light coalition, is expected to have significant implications for foreigners living and working in Germany. In this article, we will explore the key changes and their impact on expatriates. The current German pensions system is primarily based on a pay-as-you-go model, where current workers contribute to the pensions of retirees. However, with an aging population and increasing life expectancy,...

August 4, 2023
News
Read more...
04Aug

Lawmakers propose to reduce public service retirement age to 55 years

A parliamentary committee is considering reducing the mandatory retirement age from the current 60 years to 55 to give young people an opportunity to be employed in the public service. On Thursday, August 3, the National Assembly’s Labour committee, while considering the Public Service Commission (Amendment) Bill, 2023, said it will introduce an amendment to the proposed legislation to cap the retirement age at 55. The Bill sponsored by Embakasi Central MP Benjamin Gathiru seeks to amend the current Act by...

August 4, 2023
News
Read more...
03Aug

Romanian Constitutional Court sends law altering special pensions back to Parliament

The Constitutional Court of Romania discussed on Wednesday, August 2, the changes made in Parliament to the Law on special pensions, deciding to return it to the legislative for modifications. On June 29, the High Court of Cassation and Justice referred the Law amending and supplementing certain normative acts in the field of service pensions, as well as the normative act on raising the retirement age, to the Constitutional Court. The project in question brought changes to the special pensions for...

August 3, 2023
News
Read more...