News Archives - Page 374 of 956 - Pension Policy International

04NovNovember 4, 2022

China. Authorities release guideline for private pension plans

Five central departments released a guideline for the implementation of private pension plans on Friday, in an effort to improve the nation's pension system. The guideline, jointly released by the Ministry of Human Resources and Social Security, the Ministry of Finance and the State Taxation Administration, said individuals joining the private pension plan should first open an account at State-run social security platforms or those operated by commercial banks and then open a capital account at an authorized commercial bank...

November 4, 2022

NewsChina, Private Pensions, Regulation

04NovNovember 4, 2022

Kenya. Pension assets fall Sh33bn on bonds, equities hit

Pension industry assets under management shrank by Sh33.4 billion in the six months to June on the back of paper losses on equities and government bond holdings, representing the first half-year decline in retiree assets in 19 years. The Retirement Benefits Authority (RBA) said the contraction in the assets by 2.16 percent to Sh1.514 trillion was due to volatility in the financial markets and the political campaigns ahead of August’s general elections. The value of government bond holdings by the industry...

November 4, 2022

NewsInvestment, Kenya, Pension Management, Returns

04NovNovember 4, 2022

Pension funds can influence a major shift in ESG investing

Year after year, parties to the UN Climate Change Conference make pledges to mend their ways in key focus areas such as carbon emissions. The centrality of finance as the catalyst for change in climate matters has been reiterated. As such, pension funds can loop in to make a change and simultaneously derive satisfactory value for their members. Possibly the largest mobiliser of private finance globally, pension funds are a potential superpower in the climate change battle. With Kenya’s assets...

November 4, 2022

NewsESG, Investment

04NovNovember 4, 2022

Too much choice counterproductive in retirement systems, new report finds

Giving pension savers the freedom to choose their own investments is beneficial, but including too much choice in a national pension system is counterproductive, according to a new report assessing different retirement frameworks. In the white paper produced by US financial services firm Morningstar – An Evaluation of Retirement Systems Around the World – analysts reach a number of conclusions, saying some countries are better than others at limiting choice; that auto-enrolment programmes are effective and that efforts to engage...

November 4, 2022

NewsBehavioral Science, Pension design

03NovNovember 3, 2022

Chile’s Boric announces plan to end private pension system

Chile’s President Gabriel Boric on Wednesday announced his long-awaited plan to reform the country’s controversial private pension system. In a televised address, Boric said he was planning to end Chile’s Pension Fund Administrators (AFP) system in lieu of a new private-public social security system that would see new contributions from employers and the state. “The AFPs, in this reform, are finished,” Boric said, adding that new private entities would still be allowed to invest pension funds, but there will also be...

November 3, 2022

NewsAdequacy, Chile, Pension Management, Pensions Reform, Private Pensions, Public Pensions

03NovNovember 3, 2022

UK pensions dashboards may lead to industry consolidation

Final regulations to enable people in the UK to access information on their pensions through online pension dashboards have been laid before parliament. The pensions dashboard regulations set out how pension schemes will connect to the online dashboard ecosystem and what providers must do to become a qualified pensions dashboard service. It comes in the year that marks 10 years since the introduction of automatic enrolment. According to UK Department for Work and Pensions (DWP), with more people managing their finances...

November 3, 2022

NewsPension Management, UK

03NovNovember 3, 2022

South Africa. Africa’s largest pension fund, the GEPF, is still backing SA and investments in the country

The Government Employees Pension Fund, which manages R2.24-trillion in pension savings belonging to 1.26 million public servants, is still optimistic about SA’s economy and investment prospects. It is allocating most of its capital to SA-based investments and backing state-owned enterprises. The continent’s largest pension fund is bullish about investments that are exposed to SA’s economy and has not taken a dim view on state-owned enterprises, despite many being regarded as basket cases. The Government Employees Pension Fund (GEPF) manages...

November 3, 2022

NewsPension Management, South Africa

03NovNovember 3, 2022

How technology can support pensions for the underserved

New technologies, including central bank digital currencies, can help to better distribute and protect wealth PROVIDING pension support for workers in the informal sector has always been a challenge. At a recent Green Shoots session held at Prudential Singapore’s office, panellists discussed how the use of technology and digital tokens can help facilitate the distribution of micro pensions, and what challenges remain. Micro pensions refer to small sums of money saved by self-employed individuals, that are then invested to yield...

November 3, 2022

NewsFintech, Pension design, Technology

03NovNovember 3, 2022

Netherlands. PFZW divests from 114 fossil fuel companies

Pensioenfonds Zorg en Welzijn, Zeist, Netherlands, sold its holdings in 114 fossil fuel companies at a value of €470 million ($468 million) because they did not yet have plans to reduce their carbon emissions. The pension fund said in a notice on its website that it had also entered into discussions with 13 major fossil fuel companies, such as Shell and BP, about their climate ambitions and how they will be net-zero by 2050. Starting in 2024, PFZW will only invest...

November 3, 2022

NewsClimate crisis, Investment, Netherlands

02NovNovember 2, 2022

FCA extends pensions dashboard deadline by two months

FCA regulated pension providers have been given an extra two months to comply with the regulator's pensions dashboard rules. In the final rules for the regulations published today (November 1), the Financial Conduct Authority said providers will now have until August 31 for implementation, to align with the government’s extension to a deadline on occupational pension schemes. The FCA has also extended the connection deadline for providers with fewer than 5,000 pots in accumulation and who rely on a third-party integrated...

November 2, 2022

NewsRegulation, Technology, UK

November 2022