December 2022
01Dec

Canada Pension Plan funds war and climate change

The Canada Pension Plan (CPP) manages $539 billion on behalf of over 21 million working and retired Canadians, making it the seventh largest pension plan in the world. The CPP Investment Board (CPPIB) however is accountable first and foremost to the federal and provincial governments, not the contributors and beneficiaries. A webinar  “What is the CPPIB Really Up To?” was hosted earlier this year by the Canadian Foreign Policy Institute, Just Peace Advocates, World BEYOND War and several other organizations....

December 1, 2022
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01Dec

China to launch commercial pension scheme in 10 regions from January

China will launch a commercial pension scheme along with insurance firms in 10 provinces and municipalities from Jan. 1, as Beijing develops its third pillar pension system to help its large ageing population. The scheme will supplement the private pension plan launched last week in 36 cities, allowing individuals to open retirement accounts with banks and buy financial products. Under the latest scheme, customers can open accounts at the insurance firms and invest in pension products offered by the companies, the...

December 1, 2022
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November 2022
30Nov

UK. Sustainability in pension scheme strategies improve but still room for improvement on disclosures, XPS Pensions Group analysis finds

The pensions consultancy reviewed climate disclosures of 12 large pension schemes with £320bn in assets under management, made in line with TCFD guidance These are the first round of such disclosures to be published after doing so was made mandatory for schemes with over £5bn, in October 2021. The review found that 11 of the 12 schemes reviewed have targets in place linked to Net Zero or Paris Agreement Alignment, with the majority of these committing to meet that standard...

November 30, 2022
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30Nov

US. Amid FTX fallout, public pension fund defends its big bet on crypto-related holdings

As investors scramble to assess the fallout from the bankruptcy of cryptocurrency exchange FTX and the general price collapse of bitcoin and other digital currencies, a public pension fund is standing by its hefty commitment to crypto-related holdings. The Fairfax County Police Officers Retirement System, a defined-benefit pension plan covering law-enforcement officers in the sprawling northern Virginia county, has over 7% of assets invested in crypto-related holdings, according to a person familiar with the fund, spread across venture capital and...

November 30, 2022
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30Nov

Kenya. Employers want new NSSF rates spread over five years

Employers want the proposed increase in the National Social Security Fund (NSSF) contributions spread over  five-years, even as they call for more consultation. The Federation of Kenya Employers (FKE) says this will enable employers and employees adjust to accommodate the new rates, further adding that it should be effected based on “statutory minimums.” This comes as the government continues to push for an increase on the monthly contributions through the NSSF Act.  It seeks to raise this from the Sh200 flat...

November 30, 2022
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30Nov

Portuguese seniors’ life expectancy decreased again, provisional results show. It determines pension age for 2024

Statistic Portugal published on November 29 the provisional value of life expectancy at age 65 for the three-year period 2020-2022. Every year this estimates has an influence on pensions in Portugal. Life expectancy at age 65 in Portugal is estimated at 19.30 years for the triennium 2020-2022. Different from life expectancy at birth, this means Portuguese at age 65 between 2020 and 2022 could expect to live until 84 years and 110 days on average. It decreased 0.05 year compared...

November 30, 2022
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30Nov

Canada. Are longevity fund solutions going to change the retirement income game?

Over the past few years, Canada’s investment fund industry has sought to revolutionize Canada’s retirement-planning landscape with the introduction of innovative products. In 2021, Purpose Investments launched the Longevity Pension Fund, while Guardian Capital introduced its own GuardPath Longevity Solutions earlier this year. While they don’t offer estate-planning guarantees, both go beyond the scope of traditional mutual funds by tapping into mortality credits, an idea that was first explored through the use of tontines in the 16th century. As the fund...

November 30, 2022
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29Nov

UK. FCA reveals £49m redress scheme for British Steel pensions

Financial advisers to pay about £45,000 a worker to 1,000 staff who received unsuitable advice More than 1,000 former members of the British Steel pension scheme who received unsuitable advice from financial advisers accused of “enriching” themselves will receive an average payout of £45,000 in compensation. The City watchdog on Monday launched plans for a scheme that seeks to compensate those who had not yet received redress after being given poor pension transfer advice when British Steel fell into financial hardship. The...

November 29, 2022
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29Nov

US. Blackboxes Within Blackboxes: Cryptocurrency In Your State Pension

The recent collapse of the global cryptocurrency markets has exposed many previously hidden dangers related to these blackbox investments. Growing secrecy at our nation’s public pensions has turned these retirement plans into blackboxes themselves. Public pension officials have agreed to be kept in the dark about how much they’re poised to lose in cryptocurrency investments and aren’t eager to acknowledge the losses resulting from their gambling in crypto. No one knows for certain just how much blackbox cryptocurrency blackbox...

November 29, 2022
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29Nov

The countries with the oldest populations

Declining birth rates, rising divorce rates and increasing life expectancy are among the many factors changing demographics around the world. In fact, many countries are experiencing an overall aging population. According to a 2019 World Bank study, the following countries have the oldest populations. Bulgaria Just over 21% of Bulgarians are aged 65 and over, which contributes both to the general aging of the population and to one of the fastest depopulation in all of Europe. As a result of the...

November 29, 2022
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