News Archives - Page 350 of 982 - Pension Policy International

27AprApril 27, 2023

UK. New TPR guidance places Equality, Diversity and Inclusion at the forefront of the trustee agenda

On 28 March 2023, the Pensions Regulator (TPR) published two sets of equality, diversity and inclusion (EDI) guidance: one for governing bodies; and one for employers. In parallel, TPR has published an overview explaining what EDI is, why it is important, and the benefits of improving EDI across the pensions industry. TPR hopes the guidance, which was developed in conjunction with an industry-wide working group which I was pleased to be part of, can be used by pension scheme...

April 27, 2023

NewsEquality, Regulation, UK

27AprApril 27, 2023

Jamaica. Minister of Labor announces increases to NIS benefits

Minister of Labour and Social Security, Karl Samuda, has announced significant increases for National Insurance Scheme (NIS) pensioners and other contributors to the scheme. Samuda made the announcement on Wednesday during his contribution to the Sectoral Debate in the House of Representatives. He said the old age or retirement, the invalidity and the widows and widowers pensions will move from $3,400 to $4,200 per week, a 23 per cent increase for those receiving full-rate pensions. At the same time, pensioners who...

April 27, 2023

NewsJamaica, Social Security

27AprApril 27, 2023

US Senate panel advances Biden’s labor secretary choice, opposed by gig worker apps

A U.S. Senate committee on Wednesday voted along party lines to advance President Joe Biden's nominee for U.S. labor secretary, Julie Su, to the full Senate for what will be a close vote due to heavy opposition by Republican lawmakers and business groups worried about regulation of the gig economy. The Democrat-led Senate Health, Education, Labor and Pensions Committee voted 11-10 to approve Su, a civil rights lawyer and former California labor commissioner who has served as a deputy labor...

April 27, 2023

NewsLabor Market, Regulation, US

27AprApril 27, 2023

Senegalese veterans to return home after French government u-turn on pensions

Eight veteran Senegalese riflemen will be finally returning home for good this Friday, after President Emmanuel Macron's government in January lifted a six-month residency condition for their military pension. For 95-year-old Yoro Diao, after nearly 20 years of living thousands of miles from his family, he is happy to leave his tiny studio in a suburb of Paris, to return to his family. “This is a victory, a second victory after the war. We are allowed to go home while receiving...

April 27, 2023

NewsPension Payout, Regulation, State Pensions

26AprApril 26, 2023

Higher living costs force Americans to cut back on retirement savings, survey says

Bigger chunks of our paychecks are going to pay the bills as we juggle higher rent or housing costs, larger monthly payments on cars, and ongoing high prices on food, clothing and airfares. Who wouldn't be tempted to dial back how much money you set aside from each paycheck toward retirement? Throw cash in a 401(k) plan? When you need to make a car payment of $700 a month or higher? Or your rent just went up by $250 a...

April 26, 2023

NewsInflation, US

26AprApril 26, 2023

UN Pension Fund back on track after 2022 as low costs pay off

The United Nations Joint Staff Pension Fund, UNJSPF, is clawing back 2022 losses with assets under management currently valued at $82 billion and the fund experiencing a positive return of 5 per cent so far this year. Robust returns between 2019 and 2021 had swelled the UNJSPF portfolio by 30 per cent to a record high in its 75-year history to over $91.5 billion by the end of 2021. Come 2022, and the ravages of high inflation and ensuing high...

April 26, 2023

NewsPension Management

26AprApril 26, 2023

Pension fund PGGM warns on dangers of social greenwashing

The principal director for responsible investments at PGGM Investments, the investment manager for the €277 billion ($306 billion) Dutch pension fund, has pointed to the continued challenges associated with measuring the social impact of investments, highlighting the reputational dangers of social greenwashing. “You encounter liberal definitions. There is some inflation in the terms that we want to be very cautious about. You don’t want to overstate [investors’] social contributions,” said Hans Op’t Veld, principal director for responsible investments at the...

April 26, 2023

NewsClimate crisis, ESG, Investment

25AprApril 25, 2023

PPG Industries unloads $309 million in U.S. pension liabilities

PPG Industries Inc., Pittsburgh, purchased a group annuity contract in March to transfer $309 million in U.S. pension plan liabilities to insurance companies. The chemical company disclosed the transaction in its 10-Q filing with the SEC on April 21. The filing did not disclose the number of insurers or their names. It is at least the third pension risk transfer transaction completed by the company in the past seven years. In 2016, PPG Industries purchased two group annuity contracts to transfer $1.6...

April 25, 2023

NewsPension design, Risk, US

25AprApril 25, 2023

U.K. Pensions Regulator calls for more safeguards for LDI

Pension fund trustees should put in place appropriate buffers to manage any leveraged liability-driven investment arrangements, the U.K. Pensions Regulator said Monday. In a new guidance, which was published following the September LDI crisis, the regulator said investors must also include an operational buffer specific to the LDI arrangement to manage day-to-day changes, in addition to the 250 basis points minimum. Setting the right buffer level is essential so the fund can operate in the normal way even where there are...

April 25, 2023

NewsRegulation, UK

25AprApril 25, 2023

‘Aging population holds economic prosperity for Nigerians, others’

Individuals across the globe, especially in developed countries, are aging at an unprecedented pace, making many countries increasingly reliant on migration to realise their long-term growth potential, says a new report from the World Bank. The ‘World Development Report 2023: Migrants, Refugees and Societies’ identifies this trend as a unique opportunity to make migration work better for economies and people. Conversely, Nigeria, Ghana and other developing countries that have rising youthful populations are set to benefit from the global aging population...

April 25, 2023

NewsAging, Labor Market, Migration, Nigeria

April 2023