News Archives - Page 379 of 983 - Pension Policy International

18JanJanuary 18, 2023

South Africa. PIC refutes government pension fund insolvency claims

The Public Investment Corporation (PIC), which manages over R2 trillion in funds, is refuting claims circulating on social media that the Government Employee Pension Fund (GEPF) is facing insolvency risks, as a result of an alleged £158 billion (R3.3 trillion) legal claim against its portfolio of assets. According to a PIC statement released on Monday, ‘Nedbank Private Wealth’, a Nedbank subsidiary previously affiliated with insurer Old Mutual, is alleged to have engaged in “bad business practices” in the UK and...

January 18, 2023

NewsPension Management, South Africa

18JanJanuary 18, 2023

German government to set up foundation with up to €150bn for first-pillar pension reform

The German government plans to build a foundation under public law called Stiftung Generationenkapital to manage up to €150bn in assets in the long term for an equity fund to turn the first-pillar pension system into a partially funded platform based on the Aktienrente concept. The government will start to build the equity pension fund this year with starting capital worth €10bn, setting up a foundation that will “be anchored in law and independent from politics” to stabilise the first-pillar...

January 18, 2023

NewsGermany, Pension design

18JanJanuary 18, 2023

Key Actuarial Changes for Public Pension Plans in 2023

Funding valuation reports for public pension plans will have to include additional information following several actuarial changes approved by the Actuarial Standard Board, part of the American Academy of Actuaries, in the finalized Actuarial Standards of Practice No. 4., Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. “In some cases, these are things that some [public pension plan] reports already include. So for any given public pension plan, they may see all of these as changes or some...

January 18, 2023

NewsPublic Pensions, Regulation, US

18JanJanuary 18, 2023

Ireland. Govt urged to introduce pension auto-enrolment ‘as quickly as possible’

The Pensions Authority is expected to tell the Oireachtas Committee on Social Protection today that the Government should introduce pension automatic enrolment as quickly as possible. In October, details of the new auto-enrolment scheme were approved ahead of its expected introduction in 2024. Workers aged between 23 and 60 will be automatically signed up to a pension plan co-funded by their employer and the State but they can opt out if they wish to leave. The plan is for employees who are...

January 18, 2023

NewsIreland, Operations

17JanJanuary 17, 2023

China’s Population Falls, Heralding a Demographic Crisis

The world’s most populous country has reached a pivotal moment: China’s population has begun to shrink, after a steady, yearslong decline in its birthrate that experts say is irreversible. The government said on Tuesday that 9.56 million people were born in China last year, while 10.41 million people died. It was the first time deaths had outnumbered births in China since the Great Leap Forward, Mao Zedong’s failed economic experiment that led to widespread famine and death in the 1960s. Chinese...

January 17, 2023

NewsAging, China, Labor Market

17JanJanuary 17, 2023

Bank of England says shake-up of insurance rules increases risks

The Bank of England on Monday warned that a much-heralded overhaul to insurance rules “increases risk” and could result in a corporate failure that ultimately hits the public purse. The BoE’s top officials also sounded alarm bells about other aspects of the government’s sweeping plan to turbocharge the City of London’s growth, warning that some of the changes could jeopardise financial stability. The comments from BoE governor Andrew Bailey, and Sam Woods, head of its Prudential Regulation Authority, came a month...

January 17, 2023

NewsRegulation, UK

17JanJanuary 17, 2023

US. Life expectancy can have a greater impact than even record high inflation on how long your retirement savings will last

Given today’s ongoing high inflation, many Americans worry they may not have put away enough money for retirement. They fear that sharp increases in food and energy prices and transportation and medical care costs could significantly affect their retirement savings. Yet there’s another important factor to consider: your life expectancy. A new report from the TIAA Institute and George Washington University reveals that more than half of American adults don’t know how long people generally tend to live in retirement, which...

January 17, 2023

NewsInflation, Longevity, US

16JanJanuary 16, 2023

U.S. funds turn to fixed income for relief

Pension plan execs looking forward to better environment U.S. pension fund executives expect to navigate a recession by the end of 2023, but while the market return environment is set to remain challenging, they see opportunities re-emerging in fixed income. While they are unsure of just how challenging, they are convinced of one thing: a recession almost certainly looms in the coming year. "My crystal ball is a bit cloudy," said Christopher J. Ailman, chief investment officer at the $307.2 billion California...

January 16, 2023

NewsInvestment, Pension Management, US

16JanJanuary 16, 2023

Ghana. Private pension funds control 71% of industry’s assets

Private pension funds hace maintained their strong growth over the years, reaching a record hig of GH28Billion in 2021 from the previus year´s GH28Billion. the increse represents 27 èrcent, with private pension funds - the mandatory 2nd Tier and voluntary 3rd Tier schemes - now controlling a 71 percent share of the industry´s total assets under managment (AUM) in the year under reviw, latest data from the National Pension Regulatory (NPRA) show. A Breakdown of private schemes shows that 2nd Tier...

January 16, 2023

NewsGhana, Private Pensions, savings

16JanJanuary 16, 2023

South Korea:Govt to reform national health insurance and pension schemes

The government will begin earnest discussions to boost the sustainability of the national health insurance system and plans to unveil reform measures by September. The Health Ministry has drawn up a plan to devise preliminary measures this month to improve the overall fiscal sustainability of health insurance coverage, according to a report by KBS World. The measures are expected to include some of those mentioned in a public hearing last year aimed at removing fiscal loopholes, such as stronger monitoring of...

January 16, 2023

NewsHealth Care, South Korea

January 2023