News Archives - Page 337 of 955 - Pension Policy International

07MarMarch 7, 2023

U.S. corporate pension funding increases in February – 3 reports

U.S. corporate pension plans' funding ratios increased in February as falling liability values offset a drop in assets, according to three new monthly reports. Legal & General Investment Management America estimated the average funding ratio of the typical U.S. corporate pension plan was 99.9% as of Feb. 28, up from 99.8% a month earlier. In its latest monthly Pension Solutions Monitor, LGIMA said the estimated average funding ratio rose slightly in February because the increase in discount rates, which caused liability...

March 7, 2023

NewsFunding, Occupational Pensions, US

07MarMarch 7, 2023

Undersaving in British pensions still substantial, says government report

New government figures show the level of undersaving in British pensions is still substantial, despite increased pension participation in the private sector. ‘Analysis of future pension incomes’, published by the Department for Work and Pensions (DWP), updates figures from an auto-enrolment review in 2017 with a new estimate of the number and proportion of working-age individuals aged 22 to state pension age who are not saving enough for their retirement. The new report – covering England, Scotland and Wales – is...

March 7, 2023

Newssavings, UK

07MarMarch 7, 2023

Greenland needs new approach to preserve welfare state amidst aging population: gov

Greenland has launched a new strategy to help navigate the upcoming challenges of maintaining the welfare state amidst an aging population. Besides working on ways to improve the quality of life and services for seniors, the government said a long-term strategy needs to be put in place to ensure the survival of the social safety net. The government of Greenland did not respond to requests for comment for this story, but in a news release, it said the ever-shrinking workforce was...

March 7, 2023

NewsAging, Greenland

06MarMarch 6, 2023

S.Korea pension fund ready to revive FX swap with cenbank

South Korea's National Pension Service (NPS), manager of the world's third-largest public pension fund, will collaborate with foreign exchange authorities when needed to help stabilise the market, its chairman told Reuters. Chairman Kim Tae-hyun also said during an interview on Friday with Reuters that re-establishing a currency swap arrangement with South Korea's central bank which expired at the end of last year could be part of such collaboration. NPS has nearly $700 billion under its management and needs to buy dollars...

March 6, 2023

NewsInvestment, Political economy, South Korea

06MarMarch 6, 2023

Why Latin nations pay lifetime pensions to their former presidents

A question runs through Latin America and creates controversy: Should presidents who leave office receive special pensions for the rest of their lives? In recent months, there have been requests from legislators in the countries of Argentina, Ecuador or Costa Rica to remove life pensions for former heads of state, as Mexico previously revealed how much they cost. This type of payment has existed in other parts of the world and in Latin America for decades, not only to compensate presidents...

March 6, 2023

NewsLatin America, Public Pensions

06MarMarch 6, 2023

French Strikes Over Pension Reform Plans Expected to Disrupt Public Transport

Industrial action in France over the government's planned pensions overhaul will cause heavy disruption to public transport again on Tuesday, the transport minister and several public transport authorities said Sunday. For the sixth time since the start of the year, unions are calling for a nationwide day of strikes and demonstrations, aiming to repeat the large turnout seen on the first major protest Jan. 19 when more than a million people marched against the pension reform. "There will be very strong...

March 6, 2023

NewsFrance, Pension Reform

06MarMarch 6, 2023

Why Nigerian Banks are acquiring pension firms-Razaq Ahmed

Nigerian banks are increasing their acquisition of pension firms to expand from banking to the provision of wealth management and other services, thus taping the large assets of about N15 trillion, currently under the management of Nigeria’s pension industry. This was disclosed by Razaq Ahmed, the co-founder and CEO of fintech startup Cowrywise, who spoke during Nairametrics’ Corporate Deals book webinar on Saturday. He noted that with the growth of the industry, assets under management are expected to rise to N20...

March 6, 2023

NewsNigeria, Pension Management

06MarMarch 6, 2023

China’s big dilemma: What to do about an aging nation

China’s population decline, which the Chinese government officially confirmed in January, has led many observers to wonder if the country’s current demographic trends threaten its stability. According to the National Bureau of Statistics, China’s population shrank last year for the first time in 60 years, nine years earlier than government projections had anticipated. The fertility rate (births per woman) fell to 1.0-1.1, well below the official forecast of 1.8. Most notably, the number of births dropped sharply to 9.56 million,...

March 6, 2023

NewsAging, China

03MarMarch 3, 2023

US. Congress Moves to Block Investment Rule, Setting Up Veto Fight

Congress on Wednesday cleared a measure to block a Labor Department rule that allows retirement plan managers to incorporate climate and social considerations into their investment decisions, setting up a veto fight with President Biden over an otherwise obscure regulation that has become a flash point in the culture wars. The Senate passed the resolution by a vote of 50 to 46 after two Democrats, Senators Jon Tester of Montana and Joe Manchin III of West Virginia, joined every Republican....

March 3, 2023

NewsESG, Regulation, US

03MarMarch 3, 2023

France’s controversial pension reform bill arrives in Senate

Debate over French President Emmanuel Macron’s contested pension reform legislation starts Thursday in the Senate, where the right – which controls the chamber – is expected to treat the text more favourably than opposition parties did in the National Assembly a fortnight ago. The government is banking on support from Senators belonging to the conservative Les Republicains (LR) party, who favour raising the minimum legal retirement age from 62 to 64, and having citizens work longer to obtain a full...

March 3, 2023

NewsFrance, Pension Reform

March 2023