News Archives - Page 346 of 955 - Pension Policy International

07FebFebruary 7, 2023

France. New pensions showdown for Macron as reform hits parliament

French President Emmanuel Macron's government faces a crunch week of defending its contested pension reform, with fireworks expected in parliament and mass strikes and demonstrations planned on the streets. Walkouts and marches are planned for Tuesday and Saturday, while left-wing opponents of the minority administration have already filed thousands of amendments ahead of the parliamentary debate beginning on Monday afternoon. Trains and the Paris metro are again expected to see "severe disruptions" according to operators, and around one in five flights...

February 7, 2023

NewsFrance, Pension Reform

07FebFebruary 7, 2023

U.K. Regulators Are Urged to Address Pension Risks After Last Year’s Crisis

British regulators failed to properly monitor the risks created by the derivatives-based investment strategy that upended the U.K.’s pension sector last year, an investment approach that poses a continuing risk to companies if changes aren’t made, according to a U.K. legislative panel. Liability-driven investments, known as LDIs, invest in derivatives that are tied to U.K. government bonds known as gilts. They help pensions match long-term liabilities they have to retirees with less capital than they would need had they owned...

February 7, 2023

NewsPension Management, Regulation, Risk, UK

07FebFebruary 7, 2023

US. Public pension funds lowered expectations for returns as expenses spiked in fiscal 2022

Public retirement systems saw their expenses rise in fiscal 2022, while many reduced their assumed rates of return, according to an annual study by the National Conference on Public Employee Retirement Systems. In fiscal 2022, the pension systems averaged 64 basis points in administrative costs and investment manager fees, up from 54 points the year before. Systems lowered their assumed rates of returns to an average 6.86%, from 7.07% a year earlier. Among all respondents, 60% said they lowered those rates...

February 7, 2023

NewsPublic Pensions, Returns, US

07FebFebruary 7, 2023

Ghana. Pensioners protest at finance ministry over debt exchange programme

A rather rare incident but it has come to that because of the introduction of government’s Domestic Debt Exchange Programme. A group of persons – over 60 years have gathered at the premises of the finance ministry Monday morning to register their displeasure about the suggested inclusion of pensioners in the Domestic Debt Exchange Programme (DDEP). Read also Ghana debt swap deal ‘good for you’, finance minister tells retirees The group; Pensioner Bondholders Forum say their petition to the government on January...

February 7, 2023

NewsGhana, Public Pensions

03FebFebruary 3, 2023

US pension funds are on the brink of implosion – and Wall Street is ignoring it

By David Sirota As public officials across America prepare to funnel even more of government workers’ savings to private equity moguls, an alarm just sounded for anyone bothering to listen. It is a warning that Wall Street executives, busy skimming fees off retirement nest eggs, want you to ignore. The longer the warning goes unheeded, however, the bigger the financial time bomb may be for workers, retirees and the governments that pay them. Earlier this month, PitchBook – the go-to news...

February 3, 2023

News, OP EdPension Management, Public Pensions, Risk, US

03FebFebruary 3, 2023

World’s Top Pension Fund GPIF Posts Longest Loss in 20 Years

Japan’s state pension fund, the world’s largest, posted a fourth straight quarterly loss in its longest losing streak in two decades. The Government Pension Investment Fund lost 1% during the quarter ended December, or 1.85 trillion yen ($14 billion), reducing its total assets to 189.9 trillion yen, the fund said in Tokyo Friday. Its Japanese stocks holdings rose 3.2% during the period and domestic debt lost 1.7%. The foreign equities portfolio was down 0.05%, while overseas bonds fell 5.3%. Once a...

February 3, 2023

NewsJapan, Pension Management

03FebFebruary 3, 2023

Ghana. Employment Minister now in-charge of pensions

President Nana Addo Dankwa Akufo-Addo has appointed Mr Ignatius Baffour Awuah, the Minister of Employment and Labour Relations, as the Minister in charge of Pensions. The appointment, which took effect from Monday, January 30, 2023, was in accordance with section 211 of the National Pensions Act 2008 (ACT 766). This mandates the Minister to steer the affairs of the National Pensions Regulatory Authority, and the Social Security and National Insurance Trust. Mr Baffour Awuah made this known when he appeared before the...

February 3, 2023

NewsGhana, Regulation

02FebFebruary 2, 2023

Most Kenyans lack a saving scheme – RBA

Close to 14 million workers mainly in the informal sector do not have any form of savings, according to the Retirement Benefits Authority (RBA). The authority is warns that this will have far reaching consequences in future as the number of poor retirees with no savings hits the streets. According to Jackson Ngotho, a director with RBA, close to 13.9m Kenyans have no form of savings towards their retirement, the majority being in the informal sector. He noted that of the 3.5...

February 2, 2023

NewsCoverage, Informal Sector, Kenya

02FebFebruary 2, 2023

U.S. A Retirement Income Distribution Plan Is as Critical as Saving

The majority of your life is spent in accumulation mode — earning a steady income and putting money aside for things like retirement, savings, your child’s education or a dream vacation home. After years of investing and saving, it is critical to shift your mindset out of accumulation mode and into distribution, or decumulation, mode when retirement nears. Making that mental shift is difficult for most, but having a comprehensive wealth plan that includes a retirement income distribution strategy...

February 2, 2023

NewsPension design, Pension Payout, Retirement Planning, US

02FebFebruary 2, 2023

Trade Unions In Bangladesh Win Universal Pensions

The ITUC welcomes a new law passed in the Bangladesh parliament which establishes a framework for universal pensions. This new law represents a breakthrough following intensive advocacy from trade unions, as well as civil society groups, within the Bangladesh Social Protection Advocacy Network (BSPAN) to extend social protection in the country. The new law will provide, for the first time, the possibility for all Bangladeshi workers to benefit from income security in retirement. Previously, the pension system in Bangladesh was...

February 2, 2023

NewsBnagladesh, Labor Market, Regulation

February 2023