News Archives - Page 327 of 954 - Pension Policy International

12AprApril 12, 2023

U.K. pension funds see surplus drop as liabilities grow

The aggregate surplus of U.K. defined benefit funds covered by the PPF 7800 index declined 5.8% in March to £359.3 billion ($443.8 billion), as liabilities increased due to lower government bond yields. The surplus almost doubled for the year ended March 31, from £193 billion, according to a Tuesday update by the Pension Protection Fund, London. The PPF is the lifeboat fund for pension funds of insolvent U.K. companies. The aggregate funding ratio was 133.2% as of March 31, compared with...

April 12, 2023

NewsPension Management, UK

12AprApril 12, 2023

China. Personal pension system holds room for more development

China's latest attempt at launching a personal pension system will result in the leapfrogging development of securities firms both in terms of additional income and business models, said experts. In mid-April 2022, the State Council, China's Cabinet, rolled out a plan to introduce the personal pension system. Thereafter, the multilayered system has begun to develop in China, comprising basic pension insurance, annuities and personal pensions. The plan officially kicked off in late November, with people in 36 Chinese cities and regions...

April 12, 2023

NewsChina, Investment, Pension design

12AprApril 12, 2023

France. Macron hit by pension protests on Dutch state visit

Protesters disrupted a keynote speech by Emmanuel Macron on Tuesday as his domestic troubles cast a shadow over the first state visit to the Netherlands by a French president in 23 years. Demonstrators shouted "Where is French democracy?" and unfurled banners at the start of the address in The Hague by Macron, who has faced violent protests and strikes at home over pensions reforms. The French president is confronting the biggest challenge of his second term over his flagship pension overhaul,...

April 12, 2023

NewsFrance, Pension Reform

11AprApril 11, 2023

As Clients Live Longer, Firms Step Up Efforts Addressing Longevity Risk

People are living longer, and it has created rising concern among retirees and their financial advisors about whether they will have enough to live on in retirement. Several firms have acknowledged this longevity risk and are urging advisors to speak to their clients and promoting certain financial products that can help. According to Milwaukee-based Northwestern Mutual, there is a 50% chance that a 65-year-old man will live beyond age 86. Given that increased life expectancy, retirement savings have to last...

April 11, 2023

NewsAging, Longevity, Risk

11AprApril 11, 2023

US. Does ESG Matter in Public Finance? It Depends

In case you’ve tuned it out, there’s a battle underway between proponents of “sustainability” analysis of corporate business practices and those who favor “drill, baby, drill” and “anti-woke” free market profitability metrics and political slogans. The debate worked its way up to Capitol Hill, where Congress passed and President Biden vetoed a bill to stifle retirement account fiduciaries’ consideration of environmental, social and governance (ESG) factors in their funds’ investments. At the state level, meanwhile, a number of oil-rich states...

April 11, 2023

NewsESG, Investment, Pension Management

11AprApril 11, 2023

Ghana. Traditional leader urges informal sector workers to join tier-three pensions

Nana Akrapim Baffo Agyentaduahene IV, the Paramount Chief of the Nkoranza Traditional Area in the Bono East Region, has urged artisanal workers to register and join pension schemes for their own good. He said pensions did not only provide financial security for the aged, but also help the aged live stress and depression free lives. He said the aged required stress-free life to live longer and achieve their goals and aspirations. The Paramount Chief gave the advice when personnel of the Bono...

April 11, 2023

NewsInformal Sector, savings, Voluntary Savings

11AprApril 11, 2023

Parents drain their retirement savings helping their adult children

Parents invest so much of themselves, emotionally and financially, in raising their children — but the time comes when a parent has to stop subsidizing their adult children's everyday expenses. Think housing, health insurance, car payments, cell phones, credit cards, subscription services, student loans and travel. And, as it turns out, kids and parents don't agree on just when exactly that time should be. A new survey from Bankrate found that Gen Z adults (between the ages of 18 and 26)...

April 11, 2023

Newssavings

11AprApril 11, 2023

Why “aging in place” is a growth industry

Door widths, whether bathroom walls can support grab bars and the height of light switches are among the many items Dawn Mahiya checks when evaluating homes for her clients. As a certified aging in place specialist, Mahiya helps older people and people with disabilities figure out how to modify their homes to better fit their needs. Half of her clients, she said, are “people who are looking forward in their life … and the other half are generally their children who...

April 11, 2023

NewsAging, Retirement Planning

10AprApril 10, 2023

US. The healthcare system is unprepared for an aging population

A conservative estimate of 30,000 geriatricians will be needed to care for older adults by 2030, currently there is only about a quarter of that. The U.S. healthcare system must address the shortage of geriatricians -- and fast. The U.S. population is growing and aging, with an estimated 42% increase in those aged 65 and older between 2019 and 2034. The shortage of primary care providers in the U.S. means 17,800 to 48,000 fewer doctors will be available than needed within...

April 10, 2023

NewsHealthcare Aging, US

10AprApril 10, 2023

Nigeria. PenCom Warns Retirees Against Fraudulent Pension Group

The National Pension Commission (PenCom) says the activities of a group named Association of Pension Desk Practitioners of Nigeria (ASSOPEP) which claim to assist with pension and retirement benefits are fraudulent and illegal. Warning the public against doing business with the association, PenCom asked Nigerians to take cautious steps in seeking guidance on retirement benefits. “The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry...

April 10, 2023

NewsNigeria, Regulation

April 2023