News Archives - Page 372 of 956 - Pension Policy International

11NovNovember 11, 2022

UK. Ten years of Automatic Enrolment achieves over £114bn pension savings

In 2021, employees across the UK saved £114.6 billion into their pensions. This is a real terms increase of £32.9 billion compared to 2012, when Automatic Enrolment was introduced. The figures reveal how the policy has transformed pensions saving over the last ten years for people from Sterling to Southend, by normalising workplace pension saving, establishing a culture of retirement saving for a new generation, and helping foster a greater sense of security in later life. More than 10.7 million employees...

November 11, 2022

NewsBehavioral Economics, Pension design, UK

11NovNovember 11, 2022

Regulators researching all-to-all trading in U.S. Treasury market

In an effort to boost resiliency in the U.S. Treasury market, federal regulators are studying the pros and cons of widespread all-to-all trading, which would allow any market participant to trade directly with any other market participant, according to a report released Thursday. The report from the Inter-Agency Working Group on Treasury Market Surveillance, or IWAG, which is composed of staff from the Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank...

November 11, 2022

NewsInvestment, US

10NovNovember 10, 2022

US. Here’s why you should be worried about state and local pensions

Public pensions may be facing a massive fiscal shortfall, according to two economics professors Right now, across America, about 26 million people are relying on state and local pension plans to take care of them in their retirement years. That figure includes 15 million retired teachers, police officers, firefighters and other public sector workers, and another 11 million who are still working. On the other side of the leger all the taxpayers— 330 million of us, give or take —who are...

November 10, 2022

NewsFunding, State Pensions, US

10NovNovember 10, 2022

Over 84,000 Nigerians enrolled in micro pension plan –PENCOM

The National Pension Commission (PenCom), yesterday revealed that over 84,000 Nigerians have enrolled in the ongoing Micro Pension plan. This was even as the Commission reiterated that it will continue to embark on massive awareness to ensure more Nigerians key into the initiative. The Head, Micro Pensions Department at PenCom, Dauda Ahmed, disclosed this to newsmen at the ongoing Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry. Ahmed noted that the commission has had interactions with would-be-...

November 10, 2022

NewsInformal Sector, Nigeria, Pension design

10NovNovember 10, 2022

UK. Insurers face claims threat from pension fund LDI crisis

The events of the past few weeks are likely to result in claims and/or pressure on commercial relationships, particularly when pension schemes conduct their triennial valuations and agree new deficit reduction plans with employers. UK pension scheme managers and their insurers could face claims over their use of liability-driven investment strategies following the turbulence caused by Liz Truss's mini-budget There may be a surge in professional negligence claims against liability-driven investing (LDI) pension funds in the wake of the UK’s mini-budget. Claims...

November 10, 2022

NewsInvestment, Pension Management, UK

10NovNovember 10, 2022

How much does Europe spend on pensions?

Iceland Iceland’s pension system is rated by CNBC as the best in the world and yet remarkably it only spends 2.6% of GDP on retirees, the smallest amount in Europe. Pensioners are entitled to the full ellilífeyrir payment if they’ve lived in Iceland for 40 years. Retirees can apply for a basic pension, a pension supplement and a household supplement and all amounts are based on income. The regular pension age is 67, unless you have worked at sea for...

November 10, 2022

NewsEurope, Private Pensions, Public Pensions

10NovNovember 10, 2022

Nordic pension funds want to increase climate investments in emerging markets and developing economies

At COP27 in Sharm el-Sheikh, Egypt, the Climate Investment Coalition (CIC), in collaboration with the Nordic Council of Ministers, presented key investor recommendations to bridge the climate finance and investment gap by 2030 towards emerging markets and developing economies. This was made alongside an overview of Nordic pension fund progress within climate and clean energy investments in 2022. Despite financial challenges and a volatile economic environment, the first wave of pension fund reporting in 2022 indicates that the Nordic pension...

November 10, 2022

NewsClimate crisis, ESG, Pension Management

09NovNovember 9, 2022

US. Rising Interest Rates Change the Math on Pensions for Some Would-Be Retirees

Higher interest rates are good for our cash and checking accounts but are not always good for pension holders. Rising interest rates have an inverse relationship to a pension’s lump-sum value. As interest rates increase, the value of a pension holder’s lump sum could decrease. Because of this, I am seeing more pension holders who want to take a lump sum do so now vs. waiting. I am also seeing annuity rates improve with rising interest rates, pushing annuity income...

November 9, 2022

NewsPension design, System Characterization, US

09NovNovember 9, 2022

UK. How Pensions Threatened Financial Stability

Speech By Sarah Breeden, Bank Of England Executive Director, Financial Stability Strategy And Risk, Given At ISDA & AIMA On the afternoon of 28 September, I found myself in a rather unusual position: having to explain to journalists why a part of the pensions industry, unheard of to most of their readers, had posed such a large threat to financial stability that it warranted intervention in the gilt market from the Bank of England. Financial markets globally had been volatile for...

November 9, 2022

NewsInvestment, Pension Management, UK

09NovNovember 9, 2022

Inflation taking ever bigger bite out of Greek retirees’ pension income

Pensioners in Greece are struggling to make ends meet as galloping inflation and high energy prices take a toll on household budgets. After they lost an average of 25 percent of their income during the Greek debt crisis-related bailouts (2010-2018), the recent jumps in food and heating costs take their anxiety up a notch. During a recent interview granted to Xinhua in a cafe in central Athens, Christos Vassilopoulos, 82, was adding up his monthly bills while sipping his coffee. The...

November 9, 2022

NewsAdequacy, Greece, Public Pensions

November 2022