News Archives - Page 343 of 982 - Pension Policy International

23MayMay 23, 2023

China continues to raise basic pension payments for retirees

China announced Monday that it will raise the basic pension payments for retirees in 2023, marking 19th consecutive annual increase. The average monthly payment for pensioners of enterprises, government agencies and public institutions is set to be lifted by 3.8 percent from the 2022 level, according to a circular jointly issued by the Ministry of Human Resources and Social Security and the Ministry of Finance. Last year, China raised the basic pension payments for retirees by 4 percent from level of...

May 23, 2023

NewsChina, Social Protection

23MayMay 23, 2023

Nigeria. PenCom registers 95,000 informal sector operators on CPS

The National Pension Commission (PenCom) said it has registered 95,045 participants on the Micro Pension Plan (MPP) of the contributory pension scheme (CPS) and recorded a total contribution of over N435.6 million as of last month. Head of the Micro Pensions Department, National Pension Commission (PenCom), Dauda Ahmed, said this in Lagos, at a workshop organised for Labour Writers’ Association of Nigeria (LAWAN). Ahmed, who spoke on ‘Facilitating Financial Inclusion in the Informal Sector through the MPP’, said the total withdrawals...

May 23, 2023

NewsNigeria, Pension Management, savings

23MayMay 23, 2023

Aging population presents opportunity for travel sector, says leading economist

An aging global population presents an opportunity for the travel sector to exploit, according to a leading economist. Speaking at The Advantage Travel Partnership’s annual conference in Benidorm, professor Trevor Williams shared a positive outlook for the industry despite the global economic uncertainty. The former chief economist for Lloyds Bank told delegates that living standards across the world are increasing and people are generally “consuming more than ever before”, as he highlighted how rising life expectancy could favour travel agents and operators. “Global...

May 23, 2023

NewsAging

23MayMay 23, 2023

Institutions boost exposure to private credit

Institutional investors' private debt allocations are ticking up at a time when public fixed-income returns are at a 20-year high, and higher interest rates and economic risks threaten borrowers. Many investors are accepting illiquidity and other risks in exchange for the diversification, income and, potentially, greater long-term returns than they expect from public fixed income. With long lockups, investors are betting that an economic downturn won't cause borrowers to go bankrupt and that interest rates will fall, easing the stress of...

May 23, 2023

NewsInvestment

22MayMay 22, 2023

US. Divesting fossil fuels looms larger for more funds

As the race toward renewable energy and away from fossil fuels to address climate change heats up, more pension funds may look at divestment, willingly or otherwise. According to a divestment commitment database maintained by Stand.earth, a climate action advocacy group, 1,591 organizations worldwide with a collective $40.51 trillion in assets have publicly committed to some level of fossil fuel divestment. Pension funds represent 11.7% of those commitments, compared with 35.8% from faith-based organizations, 15.7% from educational institutions and 11.9%...

May 22, 2023

NewsESG, Investment, Pension Management, US

22MayMay 22, 2023

UK. Treasury to bear risk of unfunded legacy public sector schemes

A policy paper published on 15 May states that the cost control mechanism (CCM) for new public sector schemes will exclude those legacy schemes closed to new members. Following a review by the government actuary and a series of consultations, the government will now bear “full risk” of costs related to unfunded legacy schemes, which includes civil servants, teachers and NHS staff. The paper states: “The government believes this is the right approach to take in order to ensure the CCM...

May 22, 2023

NewsFunding, Risk, UK

22MayMay 22, 2023

Canadian public pension fund investments in China draw heightened scrutiny

Investments in China by Canada's largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China's Uyghur minority. Recently, representatives of the Ontario Teachers' Pension Plan and the British Columbia Investment Management Corporation, which manages the pensions of B.C. public sector workers, told a parliamentary committee studying Canada-China relations that they had paused new direct investment in China because of the increasing risks...

May 22, 2023

NewsCanada, China, Investment

22MayMay 22, 2023

France pension protest held on outskirts of Cannes Film Festival

Protests over pension reforms have roiled France in recent months, but demonstrations have been kept largely at bay at one of the country’s glitziest events, the Cannes Film Festival. On Sunday, dozens of protesters gathered in Cannes to oppose the raising of the reforms pushed through parliament by President Emmanuel Macron’s government. Those protests, however, were far removed from the central hub of the festival, the Palais des Festivals, or Cannes’ seaside boulevard, the Croisette. Instead, they gathered on the...

May 22, 2023

NewsFrance, Pension Reform

22MayMay 22, 2023

China issues guidance for basic elderly care system by 2025

China has issued guidance to all provinces to build a basic elderly care system by 2025, state-run Xinhua news agency said on Sunday, in the latest step to prevent a demographic crisis. Who takes care of the elderly in China, where pensions are tiny, is one of the major headaches policymakers face as they deal with the country's first demographic downturn since Mao Zedong's Cultural Revolution. The ruling Communist Party has mobilised resources to ensure that more vulnerable age groups are...

May 22, 2023

NewsAging, China, Healthcare, Public Policy

19MayMay 19, 2023

UK. DC funds adoption of ESG investments accelerates

How defined contribution (DC) schemes invest has been a topic of much debate with various government consultations threatening change and offering opportunity in equal measure. The master trust sector clearly wishes to be seen to be driving forward the debate, aiming to set the investment agenda and also offer more sophisticated investments to members. With the news that there is a 66% chance we will pass the 1.5ºC global warming threshold between now and 2027 it is clear we need...

May 19, 2023

NewsESG, Investment, UK

May 2023