May 2023
03May

US. DeSantis signs anti-ESG bill one day after state clean-energy investment

Florida Gov. Ron DeSantis, a likely 2024 Republican presidential candidate, signed a bill Tuesday he touted as the latest salvo in his war against ESG investing, one day after the state's investment office announced a significant investment in clean energy. The law requires the Florida State Board of Administration, Tallahassee, to make investment decisions based "solely on pecuniary factors" and not include environmental, social and governance considerations. The board, which consists of Mr. DeSantis, Chief Financial Officer Jimmy Patronis, and...

May 3, 2023
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03May

Pension Law and Social Responsibility in the UK: ESG Investing for Pensions

Trustees of pension schemes have a fiduciary duty to act in the best interests of the scheme's beneficiaries. This includes making investment decisions that will provide adequate returns to fund the pension promises made to scheme members. However, as the world becomes more conscious of environmental, social, and governance (ESG) issues, there is increasing pressure on trustees to consider the impact of their investments on society and the planet. What is ESG Investing? ESG investing is an investment approach that considers...

May 3, 2023
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03May

Afghanistan. Military Veterans, Retired Employees Voice Concerns over Unpaid Pensions

Many military veterans and retired employees residing in the country have voiced their concerns over unpaid pensions, Get latest articles and stories on World at LatestLY. Many military veterans and retired employees residing in the country have Afghanistan is currently grappling with a serious humanitarian crisis as according to international assessments, the country now has the highest number of people in emergency food insecurity in the world. The economic and political situation of Afghanistan has taken a turn for the worse since...

May 3, 2023
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03May

Everything You Ever Wanted To Know About Annuities But Were Afraid To Ask

Everything You Ever Wanted To Know About Annuities But Were Afraid To Ask If your well-rounded financial portfolio is a meal, then annuities should be part of the main course. Annuities are technically insurance products, but many people view them as investments—because, for all intents and purposes, they are treated similarly. There are many different types of annuities, but the main type is what people refer to as Lifetime Income Annuities, which work like a “Personalized Pension Plan.” These provide...

May 3, 2023
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02May

UK. Capita: Watchdog warns pension funds over data after hack

Hundreds of pension funds have been asked to check whether data was stolen by cybercriminals during a major hack of the UK's largest outsourcer. The Pensions Regulator has asked trustees responsible for funds that use Capita as an administrator to assess whether clients' data is at risk. After the hack in March, information apparently containing Capita data began to circulate on the dark web. The pensions watchdog said on Sunday that it had written to the hundreds of pension funds that employ...

May 2, 2023
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02May

After pan-bashing, France’s Macron faces labour day protests

France's President Emmanuel Macron faces more nationwide protests on Monday as he seeks to steer the country on from a divisive pension law that has sparked anger, pan-bashing and social unrest. Last month he signed a law to raise the retirement age from 62 to 64, despite months of strikes against the bill. He and his government have since tried to turn the page on the episode of popular discontent, one of the biggest challenges to his second mandate. But protesters have...

May 2, 2023
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02May

Nigeria. PenCom steps up efforts at diversifying pension fund investment

The National Pension Commission, PenCom, is stepping up efforts at diversifying investments in pension fund portfolio assets. The Director-General, D-G PenCom, Mrs Aisha Dahir-Umar, gave this hint in the Commission’s 2022 fourth-quarter report. The D-G said the Commission had stepped up efforts at ensuring sustainable investment of pension funds in alternative asset classes, during the quarter under review. According to her, PenCom had also structured infrastructure projects that met the strict requirements of the Pension Fund Investments Regulation. The D-G said “the Commission...

May 2, 2023
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02May

Germany has a plan to tackle a rapidly aging workforce: recruiting robots

A robot takeover has long been the stuff of science fiction, but digitalization could be key in solving Germany’s labor shortage crisis, as its population ages. A record 45.9 million people were employed by Europe’s largest economy in the fourth quarter of 2022, the German Federal Statistical Office found. But, while more people than ever have jobs, over half of German companies reported that they were struggling to find skilled workers to fill vacancies, according to German Chambers of Commerce...

May 2, 2023
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April 2023
28Apr

Bank of England tells insurers to moderate their push into pensions

The Bank of England warned insurers on Thursday not over extend themselves in grabbing more business from pension schemes eager to offload risks. Charlotte Gerken, executive director for insurance supervision at the Bank, said that in the face of considerable temptation to capture business opportunities, insurers need to exercise caution. Bulk purchase annuities (BPA) are long-term policies from life insurers for company defined benefit, or final salary, pension schemes. Rising interest rates have improved funding levels of pension schemes, making them cheaper...

April 28, 2023
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28Apr

Pension funds need to consider beneficiaries’ sustainability preferences more – here’s why the IORP II consultation matters

The European Insurance and Occupational Pensions Authority (EIOPA) consultation on the review of the Institutions for Occupational Retirement Provision (IORP) II Directive closes next month, on the 25 May. What’s at stake here is significant – how to take account of preferences to invest sustainably, and how the law, and the overall policy landscape, can improve. EIOPA’s technical consultation features a dedicated sustainability chapter. It suggests that pension funds should integrate members’ and beneficiaries’ sustainability preferences into investment decision-making while complying...

April 28, 2023
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