News Archives - Page 360 of 982 - Pension Policy International

23MarMarch 23, 2023

Americans less prepared for retirement amid financial uncertainty – Fidelity

Americans are less prepared for retirement than they were during the start of the COVID-19 pandemic, according to Fidelity Investment's 2023 retirement saving assessment study. According to the study, which was released Tuesday and examined the responses of 3,569 retirement savers that are run through Fidelity's retirement planning platform, the typical American saver is on target to have only 78% of the income needed to cover expenses during retirement. That is down from 83% at the beginning of 2020, when...

March 23, 2023

NewsRetirement Planning, savings, US

23MarMarch 23, 2023

Britain says it won’t ditch global accounting rule to unlock pensions cash

Britain on Wednesday played down the possibility of diverging from a globally-set accounting rule which some lawmakers blame for encouraging pension schemes to prefer low risk government bonds over stock markets. City minister Andrew Griffith in February said a global accounting rule needed reviewing as it had become a "performance penalty" which trapped cash in pension schemes which otherwise could be invested in companies and the economy. The so-called IAS 19 rule requires company defined benefit pension schemes to "mark to...

March 23, 2023

NewsPension Management, Regulation, UK

23MarMarch 23, 2023

France. Emmanuel Macron holds firm on pensions reform amid protests

Emmanuel Macron, France president, defended his unpopular plan to raise the retirement age on Wednesday as being key to repairing the public finances but acknowledged public anger over his government’s decision to pass the law without a parliamentary vote. “Do you think I enjoy doing this reform? No,” said Macron in a televised interview. “But there are not a hundred ways to balance the accounts . . . this reform is not a luxury or a pleasure, it’s a necessity for the country.” Read also...

March 23, 2023

News, UncategorizedFrance, Pensions Reform

22MarMarch 22, 2023

Sweden’s Biggest Pension Fund Loses $2 Billion in US Bank Crises

Sweden’s largest pension fund, Alecta, is facing losses of almost $2 billion as a result of a failed investment strategy that made it one of the biggest shareholders in two collapsed US banks and another that is embroiled in the ongoing banking crisis. The scale of the losses has become clearer since the private pension group sold all of its First Republic Bank stake at a loss of 7.5 billion kronor ($728 million), according to Chief Executive Officer Magnus Billing....

March 22, 2023

NewsInvestment, Pension Management, Sweden

22MarMarch 22, 2023

UK. Ministers reportedly scrap plan to bring forward rise in UK state pension age

Ministers have reportedly delayed plans to bring forward a rise in the state pension age amid falling life expectancy in the UK. The state pension age, which is currently 66, was due to rise to 68 after 2044 but reports earlier this year suggested ministers had planned to bring the increase forward to between 2037 and 2039. However, the Financial Times has reported ministers have decided to delay making a decision until after the next general election because of fears about...

March 22, 2023

NewsRetirement Age, UK

22MarMarch 22, 2023

U.S. General Accountability Office probing collapse of St. Clare’s pension fund

The U.S. Government Accountability Office, an investigative arm of Congress, is probing the alleged mismanagement of a depleted pension fund that wiped out retirement plans for more than 1,100 former employees of the now-closed St. Clare's Hospital in Schenectady. State Assemblyman Angelo Santabarbara disclosed the federal investigation on Wednesday and said he learned of it this week during a meeting with staff members with the House Committee on Education and Workforce. They had met "to discuss potential federal solutions regarding...

March 22, 2023

NewsInvestment, Pension Management, supervision, US

22MarMarch 22, 2023

How Investors Can Prepare for a Recession

The likelihood that the U.S. enters a recession has been growing as the Fed continues to fight inflation by raising interest rates. Recessions, significant periods of broad decline in economic activity, are inevitable, but still occur relatively infrequently (the U.S. has only experienced seven recessions in the last 50 years). Compared to typical periods of economic expansion, recessions are also relatively brief, averaging roughly six months to two years in length. However, recessions can cripple household wealth and set investors...

March 22, 2023

NewsInvestment, US

21MarMarch 21, 2023

France’s government survives no-confidence votes as pension reforms move ahead

Parliament adopted a divisive pension bill Monday raising the retirement age in France from 62 to 64, after lawmakers in the lower chamber rejected two no-confidence votes against the government. But the bill pushed through by President Emmanuel Macron without lawmakers' approval still faces a review by the Constitutional Council before it can be signed into law. The council has the power to reject articles within bills but usually approves them. The first no-confidence motion, proposed by a small centrist group...

March 21, 2023

News2023, France, Pension Reform, Retirement Age

21MarMarch 21, 2023

US. Biden uses first veto to defend rule on ESG investing

U.S. President Joe Biden on Monday rejected a Republican proposal to prevent pension fund managers from basing investment decisions on factors like climate change, in the first veto of his presidency. "I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country," Biden said in a video posted on Twitter. The bill cleared Congress on March 1, when the Senate voted 50-46 to adopt a measure to overturn...

March 21, 2023

NewsESG, Investment, Regulation, US

21MarMarch 21, 2023

European pensions increase ESG pressure on Asia property funds

Adoption of a real estate benchmark in Asia is increasing as leading European pension funds place reporting at the heart of their emissions reduction efforts. Pressure from investors outside Asia is increasing the quality and range of ESG data reported by Asian property funds, according to the leading global ESG benchmark for real estate. “There is increased pressure from asset owners who require their managers to participate in the annual benchmark, although this pressure mostly comes from non-Asian asset owners,”...

March 21, 2023

NewsAsia, ESG, Europe, Investment

March 2023