News Archives - Page 383 of 956 - Pension Policy International

06OctOctober 6, 2022

Hong Kong Pensions See Record Plunge of 22% – SCMP

The territory’s Mandatory Provision Fund lost $32.98 billion, equating to $7,197.63 per person, the South China Morning Post reported Hong Kong’s pension fund lost 21.5% on average in the first nine months of the year, its worst performance in 22 years, The South China Morning Post reported. The country’s Mandatory Provision Fund (MPF) lost $32.98 billion, equating to $7,197.63 per person, said the report. Analysts attributed the loss to the plunge in stock markets in Hong Kong and on mainland China,...

October 6, 2022

NewsHong Kong, Pension Management, Yields

06OctOctober 6, 2022

Ghana. Cocoa Farmers Pension Scheme set to take off this month

The much-awaited rollout of the Cocoa Farmers Pension Scheme is set to commence this month, the Board Chairman of COCOBOD, Mr Peter Mac Manu has announced. According to him, the trustees and implementers of the scheme would be rolling out from district to district to register cocoa farmers onto the scheme to enjoy the pension scheme’s benefit. Mr Mac Menu was speaking at this year’s cocoa day grand durbar which also coincided with the COCOBOD 75th anniversary on the theme “COCOBOD...

October 6, 2022

NewsGhana, Informal Sector, Occupational Pensions

06OctOctober 6, 2022

UK. Green pensions increasingly important to workers

Workers are favouring companies that offer green pension plans, according to research from Scottish Widows. Almost a quarter (25%) of employees named green pensions as one of the top benefits they would expect from a new employer. Nearly three quarters (72%) of employees said it was important for their company to invest their savings sustainably, demonstrating a commitment to taking environmental and social issues seriously. Despite the demand from workers, the report showed 34% of employers don't currently offer a sustainable pension...

October 6, 2022

NewsESG, Pension design, UK

06OctOctober 6, 2022

US. Retirement Planning: There’s A Wide Gap Between Expectations And Reality

There’s a significant perception/reality gap among most pre-retirees and retirees today. That’s one of the key takeaways from a new study published by the Stanford Center on Longevity (SCL), titled Disconnected: Reality vs. Perception in Retirement Planning. The study shows that most of today’s pre-retirees and retirees lack sufficient savings to fully retire at age 65 and that generally, they’re not financially prepared for retirement. Yet they hold unrealistic financial expectations for their retirement years, and they’re not taking steps...

October 6, 2022

NewsAdequacy, Retirement Planning, US

05OctOctober 5, 2022

UK. Renewed focus on pension fund investment strategy following Bank of England’s intervention in gilt market

The ramifications of the Bank of England's urgent purchasing of government bonds are being felt by pension funds and some insurance firms. The upheaval in gilt (UK government bond) markets that led to last week's spectacular intervention from the Bank of England continues to reverberate. The Bank was obliged to buy long-dated gilts - those with a maturity of 20 or 30 years - on Wednesday last week following a wave of forced selling by pension funds. Those pension funds had been...

October 5, 2022

NewsInvestment, Pension Management, UK

05OctOctober 5, 2022

Ghana. SSNIT adopts mobile money services next week

The Social Security and National Insurance Trust (SSNIT) will, from next week, adopt mobile money services as part of measures to enhance service delivery of the Trust. This was made known by the Director-General of SSNIT, Dr. John Ofori-Tenkorang, at the launch of the Trust’s annual Mobile Service Week at Ho in the Volta Region. With the new services, members can pay their contributions via MoMo, and retirees can choose to receive their pensions via MoMo. “I am happy to announce that...

October 5, 2022

NewsGhana, Technology

05OctOctober 5, 2022

US. 5 Ways Inflation is Changing Retirement Planning

GOBankingRates survey finds 3 in 4 Americans say inflation is impacting how they save and plan for retirement. Here’s what they’re doing A recent GOBankingRates survey of nearly 1,000 Americans found that nearly three-quarters (73.5%) say inflation is affecting their retirement plans in some way, from how they invest to when they plan to retire. Per the survey, here are five significant ways inflation is changing how people are saving and planning for retirement. Saving more The most common response to inflation when...

October 5, 2022

NewsPension design, Retirement Planning, US

05OctOctober 5, 2022

Jamaica. National Insurance Fund reaches $143 billion

The National Insurance Fund (NIF), the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid, saw double-digit growth in the fiscal year ended March 2021. In a new update provided by the Ministry of Labour and Social Security (MLSS), the Jamaica Observer learnt that as at March 31, 2022, the net asset value of the fund stood at $143.424 billion, representing year-over-year growth 14.13 per cent. The NIF is funded by national insurance contributions, with...

October 5, 2022

NewsFunding, Jamaica

04OctOctober 4, 2022

Tax cuts for China’s private pension scheme likely to lure participants as financial institutions vie for market share

Tax on withdrawal of funds is down to 3 per cent from 7.5 per cent, a move likely to drive participation according to analysts However, the new tax rates may have little immediate impact given the relatively small size of the taxpayer population New favourable tax policies will encourage more people to participate in China’s forthcoming private pension scheme, analysts said, as Beijing strives to ease the financial strain of a rapidly ageing population. The tax cuts, announced last week, may also...

October 4, 2022

NewsChina, Private Pensions, Taxation

04OctOctober 4, 2022

Sustainable finance regulation grew around the world in 2022

Sustainable finance regulation around the world increased in both scope and pace in 2022, according to a report released Monday by ISS ESG, the responsible investment arm of Institutional Shareholder Services. The Depth & Breadth of Sustainable Finance Regulatory Initiatives: Global Developments in 2022 report analyzes initiatives proposed or implemented to date and breaks that down by region and country. The report is based on a proprietary ISS ESG index. "All regions see sustainable finance regulation as critical to increasing market...

October 4, 2022

NewsESG, Regulation

October 2022