News Archives - Page 361 of 982 - Pension Policy International

21MarMarch 21, 2023

US. Some Public Pension Funds Are Pulling Back on Private Equity

Some U.S. public pension and investment funds are pulling back on private equity after a decade of state and local retirement systems aggressively pursuing the expensive, risky and hard-to-trade asset class. Maryland’s $65 billion retirement system is investing less new money in private equity. At Alaska’s $77 billion state fund, the investment chief wants to cancel a planned ramp-up. And the $615 million pension fund of Mendocino County, Calif., last month opted against introducing private equity to its investment mix. “We...

March 21, 2023

NewsInvestment, Public Pensions, US

17MarMarch 17, 2023

Swiss parliament backs pension overhaul but critics seek referendum

Parliament has approved an overhaul of the occupational pension scheme - a key element of Switzerland's social security system. However, voters are likely to have the final say on the issue as political parties on the left, possibly backed by the main farmer's organisation, have announced they will challenge the reform via a referendum. The legal amendment approved by parliament is intended to secure the level of the occupational pension, strengthen financing and improve the protection of part-time employees, notably women. At...

March 17, 2023

News2023, Occupational Pensions, Pension Reform, Switzerland

17MarMarch 17, 2023

Politicians Make Poor Asset Managers

Not that long ago, state legislators of various stripes told their state pension systems they must immediately divest of any portfolio investments tied to companies doing business in South Africa. The apartheid debate was front and center for nearly every public pension fund in the country. Several funds went along with the political demands, but most did not. Pension officials took the view that bowing to divestment demands would be a complete surrender of their independent, fiduciary responsibilities owed...

March 17, 2023

NewsCorporate Governance, ESG, Investment, US

17MarMarch 17, 2023

Macron puts his government at risk with decision to raise the retirement age in France

French President Emmanuel Macron imposed a highly unpopular bill raising the retirement age from 62 to 64 on Thursday by shunning parliament and invoking a special constitutional power. Lawmakers were shouting, their voices shaking with emotion as Macron made the risky move, which is expected to trigger quick motions of no-confidence in his government. Riot police vans zoomed by outside the National Assembly, their sirens wailing. The proposed pension changes have prompted major strikes and protests across the country since January....

March 17, 2023

News2023, France, Pension Reform, Retirement Age

16MarMarch 16, 2023

UK abolishes tax threshold on pension allowance to encourage people to work longer

British finance minister Jeremy Hunt on Wednesday said he would abolish the tax thresholds high earners face when they invest in pensions, in a bid to encourage them to keep working and reduce the number of people taking early retirement. Hunt said in his annual budget that he would scrap the so-called lifetime allowance, which had meant that people faced a 25% levy if they saved around 1.1 million pounds ($1.33 million)in their pension pots. The capped amount of money that...

March 16, 2023

NewsRetirement Age, savings, Taxation, UK

16MarMarch 16, 2023

US. Ohio public employee pension funds lose more than $30 million in bank collapse

Ohio's public pension systems collectively lost tens of millions of dollars invested in Silicon Valley Bank of California and Signature Bank of New York, two of the largest banks to fail in U.S. history Ohio's State Teachers Retirement System took the biggest hit. Last week, it had SVB shares worth $27.2 million, which represents 0.03% of the fund's total portfolio. It did not own shares of Signature. Last week, Ohio Public Employees Retirement System held shares in SVB worth $3.2 million...

March 16, 2023

NewsInvestment, Pension Management, US

16MarMarch 16, 2023

Zimbabwe. NSSA expedites informal sector programme as it decries paltry 24% population coverage

The National Social Security Authority (NSSA) has decried the fact that just a paltry 24% of the working population is entitled to the scheme’s coverage amid plans to expedite a pensions program for the informal sector. Millions of Zimbabweans are currently failing to qualify for pension subscriptions with NSSA because of rising informal companies which are easily evading subscription with the social authority. Speaking to media practitioners during the launch of the 2023 Insurance and Pensions Journalists Mentorship Program, NSSA acting...

March 16, 2023

NewsCoverage, Informal Sector, Zimbabwe

16MarMarch 16, 2023

Spain’s unions back government public pension reform

Spain's left-wing government won the backing of unions to reform the nation's public pension system on Wednesday, in stark contrast with neighboring France, where plans to raise the retirement age have led to waves of strikes and mass protests. The leaders of Spain’s two main labor unions, UGT and CC.OO., appeared alongside Minister of Social Security José Luis Escrivá in Madrid to christen the plan the union heads both deemed “historic.” CC.OO. secretary general Unai Sordo said that the reform would...

March 16, 2023

NewsPension Reform, Spain

16MarMarch 16, 2023

Czech president: will sign bill allowing slower rise in pensions

Czech President Petr Pavel said on Wednesday he would sign a bill slowing down an inflation-linked pension hike, a bill the ruling coalition pushed through to relieve pressure on budget at the time of soaring inflation. The centre-right government of Prime Minister Petr Fiala has said the bill would save around 20 billion crowns ($879 million) worth of spending in the central budget, currently planned with a 295 billion-crown deficit this year. The change has to be implemented by late March...

March 16, 2023

NewsCzech Republic, Public Pensions

15MarMarch 15, 2023

What the SVB Collapse Teaches Us About Retirement Planning

The startling and swift collapse of Silicon Valley Bank, along with crypto-friendly Silvergate Capital and Signature Bank, shocked industries and investors on a national and global scale. Even as the U.S. Treasury steps in to suppress economic turmoil, its unknown what lies ahead with the U.S. banking system or whether we’ll see additional bank failures in the short-term. In its aftermath, the bank runs and subsequent crashes, along with lingering talks of a recession, touch on the significance behind adequate...

March 15, 2023

NewsInvestment, Political economy, Retirement Planning

March 2023