News Archives - Page 355 of 955 - Pension Policy International

06JanJanuary 6, 2023

Principal announces pension joint venture in China

Principal Financial Group ®, a leading global financial services provider, today announced an exciting new chapter in their ongoing expansion of their global pension footprint as Principal® acquires a minority ownership stake (17.647%) in China Construction Bank (CCB) Pension Management Co., Ltd. (CCBP), CCB’s pension business with the Social Security Fund of China (SSF). CCB will remain as the majority shareholder of CCBP with a 70% interest and an additional minority stake (12.353%) held by the SSF. Principal is the...

January 6, 2023

NewsChina, Pension Management

06JanJanuary 6, 2023

Azerbaijan To Increase Social Benefits, Pensions

President of Azerbaijan Ilham Aliyev has signed a decree on additional measures to improve the social welfare of the population, trend reports. According to the decree, the Cabinet of Ministers was instructed to submit proposals to the President of Azerbaijan on increasing the amount of social benefits and pensions. Starting January 1, 2023, the minimum monthly wage and pension was increased in Azerbaijan. The increase of minimum wage is 15%, and the minimum pension 16%. According to experts, wage growth is...

January 6, 2023

NewsAzerbaijan, Social Security

06JanJanuary 6, 2023

German Employers’ Associations call on government to act on pension reforms

The Confederation of German Employers’ Associations (BDA) is pressing the government to proceed swiftly towards reforming the country’s pension system this year, knocking down incentives to retire early. BDA president Rainer Dulger said that “2023 must be a year of action. Germany needs real and sustainable reforms. Now is the time to put the necessary reforms into practice, without any mental restrictions”. He also addressed labour market figures published on 3 January. According to the figures published by the federal employment...

January 6, 2023

NewsGermany, Pension Reform, Retirement Age

05JanJanuary 5, 2023

Investing novices call the shots on $4 trillion at public pensions

Canada selects directors to oversee its public pension funds for their financial expertise and pays some six-figure salaries. In the Netherlands, board members must obtain approval from the central bank. In the U.S., a lineup of unpaid union-backed reps, retirees and political appointees are the vanguards of a $4 trillion slice of the economy that looks after the nation’s retired public servants. They’re proving to be no match for a system that’s exploded in size and complexity. The disparity is dragging...

January 5, 2023

NewsInvestment, US

05JanJanuary 5, 2023

UK. A surge in pension risk settlement predicted in 2023

Aon is predicting a surge in UK pension risk settlement in 2023, as the events of 2022 continue to feed through to the market. Martin Bird, senior partner and head of UK Risk Settlement at Aon, said: “While 2022 was one of the busiest years we have seen in the risk settlement market, we have every expectation that 2023 will see it accelerate. We think there will be a focus on full scheme transactions driving significant volumes across the entire...

January 5, 2023

NewsPension Management, Risk, UK

05JanJanuary 5, 2023

France’s African ex-soldiers win last battle – over pensions

Some of the last survivors in France from a colonial-era infantry corps that recruited tens of thousands of African soldiers to fight in French wars around the world will be able to live out their final days with family members back in Africa after a French government U-turn on their pension rights. The decision to make claiming their pensions easier follows a years-long campaign on behalf of the “tirailleurs Sénégalais,” who were recruited to fight from Senegal and other former...

January 5, 2023

NewsFrance, State Pensions

05JanJanuary 5, 2023

Korea to take drastic measures to tackle population decline

The government will take drastic measures to tackle Korea's demographic crisis of its falling birthrate and rapidly aging society, said Na Kyung-won, head of the presidential committee on Aging Society and Population Policy, who floated the idea of writing off loans for married couples who give birth to children. "Now is the absolute last chance to take action on the imminent demographic crisis. Responding and adapting to the demographic change is a matter of the nation's survival and sustainability," Na,...

January 5, 2023

NewsAging, Labor Market, South Korea

04JanJanuary 4, 2023

U.S. corporate pension funding holds steady at 95% despite market volatility

U.S. corporate pension plan funding ratios remained steady in 2022 despite significant market volatility, according to a new analysis from Willis Towers Watson. The analysis, which examined pension plan data from 356 Fortune 1000 companies, estimated their aggregate funding ratio to be 95% at the end of 2022, the same as a year earlier. According to the analysis, Willis Towers Watson estimated that the pension plans finished 2022 with $1.22 trillion in assets, down 26% from $1.65 trillion a year earlier,...

January 4, 2023

NewsFunding, Occupational Pensions, US

04JanJanuary 4, 2023

UK. Solving the Liquidity Factor for Alternative Investments in DC Plans

One of the main reasons that plan sponsors have been hesitant to bring alternative assets into defined contribution plans is concerns about the liquidity of such assets. Private real estate, for example, which has become the most common alternative investment within defined contribution plans, is at its core an illiquid asset. Part of the reason that it’s a less volatile investment than traditional securities is that it’s typically only valued once per quarter, making it even harder for asset managers...

January 4, 2023

NewsInvestment, Pension Management, UK

04JanJanuary 4, 2023

Here’s why we must not lose sight of the importance of ESG, despite the recent backlash

The consideration of environmental, social and governance (ESG) factors when making investment decisions has never faced such a profound period of negative scrutiny. After years of increasing attention and capital allocated to ESG investments, which have made substantial strides forwards in terms of technical substance and implementation expertise, 2022 proved to be a point of reflection. There are several drivers behind this wave of criticism. The combination of the impact of Russia's invasion of Ukraine, inflation and pockets of populism emerging...

January 4, 2023

NewsESG, Investment

January 2023