News Archives - Page 331 of 955 - Pension Policy International

29MarMarch 29, 2023

Canada to Ask Pension Funds to Disclose Crypto Exposure

Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. "To help protect Canadians’ retirements, Budget 2023 announces that the government will require federally regulated pension funds to disclose their crypto-asset exposures to OSFI," the government said in the new 2023 budget plan. The federal government will also work with provinces...

March 29, 2023

NewsCanada, Cryptocurrencies, Investment

28MarMarch 28, 2023

UK. Government backs expansion of automatic enrolment

Automatic enrolment was introduced in 2012 with the aim of helping more people save for their retirement. Since then 10.8 million people have been automatically enrolled into a workplace pension scheme and pension participation in the private sector has increased from 41% in 2012 to 86% in 2021, according to recent analysis by the Department for Work and Pensions ("DWP"). We celebrated ten years of automatic enrolment in our previous blog wherein we discussed the possibility of future reform...

March 28, 2023

NewsCoverage, Operations, Regulation, UK

28MarMarch 28, 2023

Ghana. Government rolls out pension scheme for cocoa farmers

Government, through Ghana Cocoa Board (COCOBOD), has rolled out the Cocoa Farmers Pension Scheme (CFPS) to ensure a decent pension for cocoa farmers, improve their welfare, and also make farming attractive to the youth. This comes after the Cocoa Management Systems (CMS) recorded some momentous strides after piloting the scheme for three weeks in August 2021 in New Edubiase and some other districts in the Ashanti Region. Just as government and private sector workers contribute during their working life, it has...

March 28, 2023

NewsGhana, Informal Sector, Pension design

28MarMarch 28, 2023

China’s Cities Are Buried in Debt, but They Keep Shoveling It On

China has long pursued growth by public spending, even after the payoff has faded. Cities stuck with the bill are still spending — and cutting essential services. In 2015, when Shangqiu, a municipality in central China, laid out a plan for the next two decades, it positioned itself as a transportation hub with a sprawling network of railways, highways and river shipping routes. By the end of 2020, Shangqiu had built 114 miles of high-speed rail, and today several national railways...

March 28, 2023

NewsChina, Public Pensions

28MarMarch 28, 2023

Key demographic trends that will impact the global economy

The global population is currently experiencing irreversible demographic shifts, from rapid urbanisation to low birth rates. A combination of economic, social, environmental, and political factors has accelerated this transition, as outlined below. The following demographic trends will significantly impact the global economy for decades to come. Urbanisation The United Nations (UN) estimates that over two-thirds of the world’s population will live in cities by 2050. Generally, urbanisation can be a positive phenomenon in improving national and individual economic performance, reducing poverty, and improving...

March 28, 2023

NewsAging, Income, Risk

27MarMarch 27, 2023

UK. What are the implications of removing the pensions lifetime allowance?

One of the headline announcements of the budget on 15 March was the scrapping of the lifetime allowance for private pensions. The allowance – which currently stands at just over £1 million – is the maximum that an individual can draw from their pension in their lifetime without paying additional tax. Unsurprisingly, this policy, which will come into force from April 2024, has been criticised by some commentators, as it is higher earners who are likely to benefit most. How does...

March 27, 2023

NewsRegulation, savings, Taxation, UK

27MarMarch 27, 2023

The 10 Years Before Retirement Are Critical. How to Be Ready

While retirement planning is a decadeslong endeavor, the way you handle your final decade before leaving the workforce will have a critical impact on how ready you’ll be when that day finally arrives. “It hits about 10 years out—this train is coming to me,” says Danielle Byrd Thompson, a financial professional at Equitable Advisors in Washington, D.C. “It’s like a time clock is starting.” Of course, that final stretch is far easier to navigate when the stock market cooperates. From 2009...

March 27, 2023

NewsRetirement Planning, US

27MarMarch 27, 2023

Canadian pension funds embrace ESG

Large Canadian pensions are making “impressive” progress on sustainable investments, according to the second annual Canadian Pensions Dashboard for Responsible Investing. The report examines the progress major Canadian pension funds have made in integrating ESG factors into their governance from 2020 to 2022. In just one year, the number of funds that have made public net-zero portfolio emission commitments by 2050 or sooner has grown from two to nine, which now accounts for or $1.8 trillion or 81% of total...

March 27, 2023

NewsCanada, ESG, Investment

24MarMarch 24, 2023

Hackers breach U.K. Pension Protection Fund, steal employee data

Hackers obtained data on some employees of the U.K.'s Pension Protection Fund after exploiting a third-party data transfer service, according to a fund spokesperson. The Pension Protection Fund manages £39 billion of assets for its 295,000 members, according to its website. The fund protects people with a defined benefit pension when an employer becomes insolvent. By exploiting the Go Anywhere transfer service, intruders compromised some employee data, Jenny Peters, a spokesperson for the fund, said in a statement. The hackers were...

March 24, 2023

NewsPension Management, UK

24MarMarch 24, 2023

French visit by Britain’s King Charles postponed due to pension protests

A visit to France by King Charles III, due to start on Sunday, has been postponed at the request of President Emmanuel Macron because of ongoing protests over pension reform. There has been widespread violence and unions have called a national day of protest on Tuesday. The French presidency said the postponement was decided after a call between Macron and the king on Friday morning. "Given the announcement yesterday of another national day of protests against pension reform on Tuesday March...

March 24, 2023

NewsFrance, Pensions Reform

March 2023