News Archives - Page 328 of 981 - Pension Policy International

12JulJuly 12, 2023

Britain’s £50 billion pensions gamble provides ‘no guarantees’ for savers

Britain’s financial services industry has broadly cheered fresh government proposals to jump-start the economy by channelling £50 billion (US$64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said. Finance minister Jeremy Hunt on Monday unveiled a raft of reforms aimed at redirecting a greater proportion of a £4.6 trillion pool of capital managed by Britain’s pensions and insurance sectors into unloved UK assets by 2030. The so-called Mansion House Reforms follow years of...

July 12, 2023

NewsInvestment, Regulation, UK

12JulJuly 12, 2023

Czech Republic. Government pension reform now before final vote

A Czech government bill to slow the indexation of old-age pensions and tighten the rules for early retirement now stands before its third reading after a vote in the lower house on Tuesday. The vote followed a debate lasting over eight hours and concluded late in the evening. MPs will vote on the matter for a final time next week at the earliest. The minister of social affairs, Marian Jurečka, said on Tuesday that the move was necessary to maintain the...

July 12, 2023

NewsCzech Republic, Pension Reform

12JulJuly 12, 2023

Irán. Elderly to Account for 30% of Population by 2050

The percentage of people over the age of 60 will constitute 30% of Iran’s population by the year 2050, Mohammad Tabatabaei, a health official with the Iran University of Medical Sciences, stated on Tuesday. “By 2050, the country’s demographic window of opportunity will close; therefore, considering the age of fertility, we have less than eight years to solve this crisis,” Tabatabaei was quoted as saying by ISNA. He said that the first three years of the eight were key as the...

July 12, 2023

NewsAging, Iran

11JulJuly 11, 2023

UK. Workplace pensions to invest billions in unlisted stocks

The government will continue its intervention in the allocation of the UK's trillions of pounds of pension holdings, after Chancellor of the Exchequer Jeremy Hunt announced that nine of the largest defined contribution (DC) pension schemes had agreed to allocate at least 5 per cent of their default funds to unlisted companies by 2030. Aviva (AV.), Scottish Widows, Legal & General (LGEN), Aegon, Phoenix (PHNX), Nest, Smart Pension, M&G (MNG) and Mercers have signed the Mansion House Compact, Hunt said,...

July 11, 2023

News, UncategorizedInvestment, Pension Management

11JulJuly 11, 2023

South Korea’s $1 trillion pension fund under new pressure by climate groups over coal

South Korea’s National Pension Service (NPS) is being challenged by climate groups demanding for the retirement fund, one of the world’s largest, to disclose details of discussions over limiting investments in coal. Three activist groups jointly filed a case on Tuesday at the Seoul Administrative Court accusing the welfare ministry, which oversees the fund, of refusing to release minutes of meetings at which coal divestment policies were discussed, the campaigners said in a statement. NPS declined to comment on the...

July 11, 2023

NewsClimate crisis, Investment, South Korea

11JulJuly 11, 2023

Belgian government agrees on pension reform to receive EU recovery funds

The Belgian government agreed on pension reform on Monday, paving the way for the long-awaited release of part of the EU recovery funds the European Commission had tied to the reform. On Monday, Prime Minister Alexander De Croo (Open VLD/Renew Europe) and Pensions Minister Karine Lalieux (PS/S&D) announced the long-awaited agreement on Twitter, which completes the one reached a year ago and aims to ensure the pension system’s financial sustainability amid an ageing population. According to the government, various measures will...

July 11, 2023

NewsBelgium, EU, Pension Reform

11JulJuly 11, 2023

US. To Fix the Care Economy, the United States Should Look Internationally

The care economy and the role of caregiving in unpaid and paid work have been in the spotlight recently in the United States. In 2021, the proposed Build Back Better plan would have invested $400 billion in the care economy—including long-term care services under Medicaid, paid family and medical leave, and better pay for home and child care workers—but failed to pass after some legislators equated it with socialism. A recent executive order that integrates more supportive caregiving policies...

July 11, 2023

NewsAging, Healthcare, US

10JulJuly 10, 2023

Asset management entering period of consolidation, tech changes – PwC

One-sixth of global asset and wealth management firms will disappear in the next five years, twice the historical turnover rate, largely due to ongoing consolidation, according to PricewaterhouseCoopers' 2023 Global Asset and Wealth Management Survey, released Sunday. Overall, the survey found that the global asset and wealth management industry faces a number of serious issues — including digital transformation, shifting investor expectations and consolidation — that will lead to the transformation of the industry, said a news release issued in...

July 10, 2023

NewsPension Management

10JulJuly 10, 2023

UK. Pension companies to announce 5% commitment to growth assets

The move comes ahead of chancellor Jeremy Hunt's Mansion House speech tonight (10 July) which is due to set out a series of reforms intended to channel tens of billions of pounds of Britain's pensions savings into high-growth companies. The Financial Times said the chancellor would note voluntary move by some of the UK's biggest pension providers - firms it says include Aviva, Legal & General, Phoenix and Scottish Widows. It added two-thirds of the defined contribution (DC) pensions market...

July 10, 2023

NewsInvestment, UK

10JulJuly 10, 2023

Longevity Is Being Redefined And It’s Going to Impact How We Work, Live And Play

We are just about to be swept into some significant shifts in how we live thanks to aging demographics. With so many of us moving into the latter half of our lives and our life expectancies extended (we expect to live to our 90s or older), this will affect how we live and function as a society in North America and in most advanced, Westernized countries. And there are already companies, think tanks, venture funds and government programs–many of...

July 10, 2023

NewsAging, Labor Market, Longevity

July 2023