March 2023
02Mar

US. How Environmentally Conscious Investing Became a Target of Conservatives

It’s been a widely accepted trend in financial circles for nearly two decades. But suddenly, Republicans have launched an assault on a philosophy that says that companies should be concerned with not just profits but also how their businesses affect the environment and society. More than $18 trillion is held in investment funds that follow the investing principle known as E.S.G. — shorthand for prioritizing environmental, social and governance factors — a strategy that has been adopted by major corporations...

March 2, 2023
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02Mar

Thailand. Political parties grapple with funding constraints for pension plans in run-up to general election

“Thailand will be a full-fledged aging society this year, as citizens 60 years old and above will represent 20 per cent of the total population,” said Worawan Plikhamin, deputy secretary-general at the National Economic and Social Development Council (NESDC), a state-run think-tank. Senior citizens will comprise 30 percent of the country’s population in 2037, making the country a super-aging society. The rising number of senior citizens offer both opportunities and challenges to the country. On the business side, there is scope...

March 2, 2023
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01Mar

U.S. pension plan buyouts reach record volume in 2022

U.S. corporate pension plan buyout sales totaled a new all-time high of $48.3 billion in 2022, a LIMRA survey found. The new all-time high for U.S. pension buyout sales topples the previous record of $36 billion set in 2012 and is up 42% from the 2021 volume total of $34.2 billion. The total number of buyout contracts also hit an all-time high, reaching 562 for all of 2022, which well exceeded the previous record of 500 contracts set in 2019. "Rising interest...

March 1, 2023
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01Mar

Australia’s regulator sues Mercer pension fund in first greenwashing case

Australia's corporate regulator launched legal action against pension fund Mercer Superannuation on Tuesday, accusing it of misleading members about the sustainability of some of its investment options. The Australian Securities & Investments Commission's (ASIC) said this was its first court action alleging "greenwashing", or exaggerated claims of environment-friendly investment and products, which has garnered increased attention as interest rises in sustainable and ethical investment options. ASIC said last year it was stepping up oversight of climate-related reporting and was investigating several...

March 1, 2023
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01Mar

Japan births fall to record low as population crisis deepens

The number of births registered in Japan plummeted to another record low last year – the latest worrying statistic in a decades-long decline that the country’s authorities have failed to reverse despite their extensive efforts. The country saw 799,728 births in 2022, the lowest number on record and the first ever dip below 800,000, according to statistics released by the Ministry of Health on Tuesday. That number has nearly halved in the past 40 years; by contrast, Japan recorded more...

March 1, 2023
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01Mar

Portugal. Bringing together students and pensioners

The program, entitled “Abraço de Gerações”, is promoted by the Associação Cozinhas Económicas Rainha Santa Isabel (ACERSI), is based in downtown Coimbra, and is seeking to respond to two problems felt in the city – the difficulty of accessing accommodation for students and the isolation of elderly people -, said Teresa Sousa. The initiative is promoted in partnership with the Associação Académica de Coimbra (AAC) and the Associação de Former Students of Coimbra, as part of a project entitled “Oficina...

March 1, 2023
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February 2023
28Feb

US. House Democrats introduce bill to codify DOL ESG rule

As backlash ramps up against the Department of Labor's new rule permitting retirement plan fiduciaries to consider climate change and other environmental, social and governance factors when selecting investments, House Democrats introduced a bill to codify the rule into law. The Freedom to Invest in a Sustainable Future Act, like the Labor Department's Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights rule that took effect Jan. 30, stipulates that plans may consider ESG factors in their investment...

February 28, 2023
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28Feb

Over 24 million individual pension accounts opened in China

More than 24 million individual pension accounts have been opened since China announced the implementation of its private pension plan to supplement the country's old-age insurance mechanism in November last year, the country's banking and insurance regulator said. The China Banking and Insurance Regulatory Commission said that the banking and insurance institutions have been introducing savings, wealth management products, commercial pension insurance, and other financial products for individual pension account holders. Under the private pension plan, applicants can open their own...

February 28, 2023
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28Feb

RSA Group completes one of largest pension risk transfer deals in U.K.

RSA Group insured £6.5 billion ($7.8 billion) in liabilities for two defined benefit funds through a buy-in with Pension Insurance Corp. in one of the largest risk transfer transactions ever in the U.K. market. RSA Group, which is a subsidiary of Intact Financial Corporation, covered liabilities for 40,000 plan participants of Sal Pension Scheme and the Royal Insurance Group Pension Scheme. Intact contributed £500 million to the deal, which was accelerated by an improvement in pension fund funding levels due to...

February 28, 2023
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28Feb

Milliman analysis: Competitive pension risk transfer buyout rate drops 90 basis points to 99.3% during January

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. During January, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.2% of a plan's total liabilities...

February 28, 2023
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