News Archives - Page 348 of 982 - Pension Policy International

05MayMay 5, 2023

Pensioners in South Africa, Kenya, and Nigeria are among the poorest globally- report

A new report by Allianz, an international financial services provider, has revealed that retirees in several African countries are among the poorest globally. The report, which surveyed 75 countries, including five in Africa, cites an ineffective pension system and a lack of adequate retirement benefits as the major reasons for the alarming trend. In Egypt, for instance, the report notes that the gross benefit level is merely 18 per cent, leaving many senior citizens struggling to make ends meet. Similarly,...

May 5, 2023

NewsAdequacy, Africa, Income

05MayMay 5, 2023

US. PBGC Bails Out Service, Manufacturing, Transportation Pension Funds

The Pension Benefit Guaranty Corp. on Monday provided Special Financial Assistance totaling more than $600 million to three multiemployer plans. The plans are the Western States Office and Professional Employees Pension Plan, the United Furniture Workers Pension Fund A and the Building Material Drivers Local 436 Pension Plan. The Western States plan, based in Portland, Oregon, has 7,230 participants in the service industry. In October 2018, it cut benefits by 25% to approximately 6,000 participants under the Multiemployer Pension Reform...

May 5, 2023

NewsPension Management, System sustainability, US

04MayMay 4, 2023

U.S. Corporate pension plans stay at or near 100% funded in April

U.S. corporate pension plans remained at or near 100% funded in April after slightly positive returns and slightly falling discount rates kept the numbers from moving too much, 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 100.5% as of April 30, up from 100.3% a month earlier. In its latest monthly Pension Solutions Monitor, LGIMA said the estimated average funding ratio rose in April...

May 4, 2023

NewsFunding, Public Pensions, US

04MayMay 4, 2023

U.K. Pension funds plan more infrastructure investments

A majority of U.K. pension funds (62%) expect to increase investment in British infrastructure over the next 12 months and prioritize it over overseas markets, according to a survey conducted for alternative investment fund GLIL Infrastructure. GLIL is a partnership of U.K. pension funds managed by Local Pensions Partnership Investments. The survey of executives at 300 pension funds, including private and local government funds, was conducted by Censuswide for GLIL Infrastructure in February. It found that for 36% of respondents, the...

May 4, 2023

NewsInvestment, UK

04MayMay 4, 2023

Ghana. Govt urged to establish Financial Literacy Education Secretariat

The government has been urged to establish a Financial Literacy Education Secretariat to continuously educate the public on financial literacy issues. This proposal is contained in Ghana Financial Literacy Strategy (2021-2025), which was prepared by Asamoah and Williams Consulting and Trans-media Network as part of the Financial Literacy Education Project (FLEP) under the Ghana Financial Sector Development Project (GFSDP), funded by the World Bank. The Chief Executive Officer (CEO) of Asamoah and Williams Consulting, Mr Mawuko Williams, who made the call...

May 4, 2023

NewsFinancial Literacy, Ghana

04MayMay 4, 2023

Studies on Aging and Late-Life Functioning Given Policy Impact Award

The National Health and Aging Trends Study (NHATS) and National Study of Caregiving (NSOC) have been awarded the 2023 Policy Impact Award by the American Association for Public Opinion Research (AAPOR). According to AAPOR, the award recognizes "outstanding research that has had a clear impact on improving policy decisions, practice and discourse, either in the public or private sectors." NHATS is designed to support policy-relevant demographic research investigating trends, trajectories, and consequences of late-life disability for individuals and families. NHATS...

May 4, 2023

NewsAging

04MayMay 4, 2023

Pensions and the metaverse

The metaverse offers pensions schemes exciting new opportunities. It could provide new ways for members to engage with their pension schemes, the way their funds are invested, and their retirement options. Better engagement should lead to better decision making and outcomes for pension scheme members, but low levels of engagement and understanding, particularly younger members, is a persistent issue for the pensions industry. Recent UK Government research found that attitudes to pensions were ‘characterised by detachment, fear and complacency’. Reducing feelings of...

May 4, 2023

NewsEngagement, Innovation

03MayMay 3, 2023

US. DeSantis signs anti-ESG bill one day after state clean-energy investment

Florida Gov. Ron DeSantis, a likely 2024 Republican presidential candidate, signed a bill Tuesday he touted as the latest salvo in his war against ESG investing, one day after the state's investment office announced a significant investment in clean energy. The law requires the Florida State Board of Administration, Tallahassee, to make investment decisions based "solely on pecuniary factors" and not include environmental, social and governance considerations. The board, which consists of Mr. DeSantis, Chief Financial Officer Jimmy Patronis, and...

May 3, 2023

NewsESG, Investment, Pension Management, US

03MayMay 3, 2023

Pension Law and Social Responsibility in the UK: ESG Investing for Pensions

Trustees of pension schemes have a fiduciary duty to act in the best interests of the scheme's beneficiaries. This includes making investment decisions that will provide adequate returns to fund the pension promises made to scheme members. However, as the world becomes more conscious of environmental, social, and governance (ESG) issues, there is increasing pressure on trustees to consider the impact of their investments on society and the planet. What is ESG Investing? ESG investing is an investment approach that considers...

May 3, 2023

NewsESG, UK

03MayMay 3, 2023

Afghanistan. Military Veterans, Retired Employees Voice Concerns over Unpaid Pensions

Many military veterans and retired employees residing in the country have voiced their concerns over unpaid pensions, Get latest articles and stories on World at LatestLY. Many military veterans and retired employees residing in the country have Afghanistan is currently grappling with a serious humanitarian crisis as according to international assessments, the country now has the highest number of people in emergency food insecurity in the world. The economic and political situation of Afghanistan has taken a turn for the worse since...

May 3, 2023

NewsAfghanistan, Pension Payout

May 2023