News Archives - Page 386 of 956 - Pension Policy International

27SepSeptember 27, 2022

UK. Pension schemes and inflation

In the 12 months to August 2022, RPI has increased by 12.3% and CPI 9.9%. With this recent significant rise in inflation, employers and trustees have been asking what the impact of this is upon their defined benefit pension schemes. Members are also concerned that, against high inflation and a 'cost of living crisis, their pensions will maintain their value in real terms. Impact on benefits Defined benefit schemes The rapid rise in inflation means that members of defined benefit pension schemes...

September 27, 2022

NewsPension Management, UK

27SepSeptember 27, 2022

Ghana. Total pension funds increased by 18% to ¢39.6bn in 2021

Total pension funds of the Three-Tier Pensions Scheme increased by 18% in 2021 to ¢39.6 billion, the latest Financial Stability Review by the Bank of Ghana has revealed. This is however lower than the 27% recorded in 2020. The decreased growth rate was attributable to the ongoing lump sum payments under the private pension schemes and a marginal growth of the Basic National Social Security Scheme (BNSSS). Also, private pension funds continued on a positive growth track in 2021. Total private pension funds...

September 27, 2022

NewsGhana, Pension Management

27SepSeptember 27, 2022

Expert investors believe sustainable investing is most likely to drive long-term returns

This is among the sustainability-focused findings of Schroders’ Global Investor Study 2022, which have been revealed today. “Expert” investors are more likely to believe that investing sustainably is key to driving long-term returns compared with their peers who rate themselves as less knowledgeable, research by Schroders has found. The finding is from Schroders’ Global Investor Study 2022, the bellwether annual survey which highlights trends based on the answers and opinions of more than 23,000 investors in 33 locations. Data was...

September 27, 2022

NewsESG, Investment, Returns

27SepSeptember 27, 2022

UK. TPR reveals compliance and enforcement figures

Use of regulatory powers remained steady in most areas with some notable exceptions The Pensions Regulator has published its latest compliance and enforcement bulletin – showing how many times the regulator used its AE and frontline regulation powers between January and June this year. The watchdog said the use of powers had remained "broadly steady" since the previous bulletin covering the six-month period of July to December 2021 - with TPR using its powers 203 times during this period as opposed...

September 27, 2022

NewsRegulation, UK

26SepSeptember 26, 2022

French PM warns retirement reform may be forced through parliament without vote

French Prime Minister Elisabeth Borne says a decision will be taken later this week on the parliamentary method to be used to advance contested government plans to reform retirement and pension legislation. Borne does not exclude the use of the constitutional clause known as 49.3, which allows the adoption of legislation without a vote in the National Assembly. What is certain is that the reform will be discussed at Monday's cabinet meeting. The government knows that the parliamentary debate on the divisive...

September 26, 2022

NewsFrance, Pension Reform

26SepSeptember 26, 2022

Nigeria: PenCom Approves Use of 25% Pension Savings for Mortgage

The National Pension Commission (PenCom) has issued Guidelines on Accessing Retirement Savings Account (RSA) of 25 per cent savings to pay equity contribution for residential mortgages by RSA holders. The commission said the approval is in line with Section 89 (2) of the Pension Reform Act 2014 (PRA 2014), which allows RSA holders to use a portion of their RSA balance towards the payment of equity for residential mortgages. PenCom, therefore, directed interested RSA holders to contact their Pension Fund Administrators...

September 26, 2022

NewsNigeria, Withdrawals

26SepSeptember 26, 2022

Swiss voters support increase in women’s retirement age

Swiss have voted in favor of the proposal by a narrow margin in a referendum. Another proposal, on imposing stricter regulations on livestock farming, failed to pass. Swiss voters accepted the government's pension reform plan by a narrow margin on Sunday. The plan would raise the retirement age for women from 64 to 65, brining it in line with the age for men. Read also Sustainable finance policy a ‘blind spot’ for European pension funds A concurrent vote on imposing stricter regulations in...

September 26, 2022

NewsPension Reform, Retirement Age, Switzerland

26SepSeptember 26, 2022

Progressive pension systems can help tackle inequality caused by job instability

Job stability varies drastically between individuals, with some people staying in jobs for an extended period of time, and others frequently losing their jobs. As Leanne Nam writes, this heterogeneity can be an important source of inequality that often goes under the radar of governments. Drawing on a new study, she illustrates how progressive pension systems can be used to address the problem. Heterogeneity in job stability is a salient feature of labour markets. Even in the flexible and dynamic...

September 26, 2022

NewsEquality, Informal Sector

26SepSeptember 26, 2022

Officials Quit $137 Billion Pension Fund in Kuwait Shakeup

A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign. Director General Meshal Al-Othman and three of his deputies, including Raed Al-Nisf, were asked to quit Kuwait’s Public Institution for Social Security (PIFSS). The officials had spent years revamping the roughly $137 billion fund, which owns a quarter of US private equity firm Stone Point Capital LLC. The shift comes ahead of parliamentary elections in the OPEC member state...

September 26, 2022

NewsKuwait, Regulation, supervision

23SepSeptember 23, 2022

UK. Inflation presents ‘considerable risk’ to DC pension pots

Skyrocketing inflation figures pose unique challenges for defined contribution pension schemes as memberships surge to record highs, according to the Pensions Policy Institute’s DC Future Book. Though the state pension triple lock provides “partial protection” for those in retirement against inflation, the PPI warned that the cost of living crisis could be compounded if returns on investment do not match inflation, which would lead to erosion in the value of DC pots. Active DC membership now stands at 13.8mn people, 10.7mn...

September 23, 2022

NewsDefined Contribution, UK

September 2022