September 2022
07Sep

US. Understanding the economic impacts of an aging population

Societal aging can affect economic growth, patterns of work and retirement, the ability for families to function, and how government and communities can provide adequate resources for older adults. This episode takes a look at the business of aging. The conversation begins with a macro discussion by diving into the numbers and how the U.S. population is getting progressively older (due to lower birth rates). In fact, the U.S. Census Bureau says the nation’s population has grown continuously older over the...

September 7, 2022
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06Sep

Strong dollar boosts some plans, but hurts others

A stronger dollar made U.S. funds the standout performers in Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute's latest tally of the world's 300 largest retirement funds, and made itself felt across a range of key survey results. For example, in prior surveys, bigger retirement funds consistently outperformed smaller funds. And for the five years ended Dec. 31, the 20 biggest retirement funds had annualized gains of 8.8%, ahead of the broader 300's 8.5% gains. But with currency...

September 6, 2022
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06Sep

UK. Younger savers express adequacy concerns; cost of living limiting saving ability

Nearly a third (32 per cent) of 18–34-year-olds know that they should be saving more for their retirement, with only 16 per cent believing that their savings are on track for a comfortable retirement, research from Wealth at Work has found. In addition to this, more than a fifth (21 per cent) of young savers have no idea how much their pension is worth and almost a quarter (24 per cent) have no idea how much they will need to...

September 6, 2022
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06Sep

Ghana. Pensions industry loses US$800 million in 2 years to weakening cedi

The Executive Secretary said although the cedi value of assets under management (AUM) has increased, the dollar value of those assets has fallen. Detailing the situation in an interview with the B&FT, Mr. Esso said: “The effect of the [local] currency’s depreciation has affected the assets under management in the pensions industry. In 2020 the industry in cedi terms was about GH¢22billion, and when you juxtapose that with the dollar there was about US$3.8billion. “Currently, we are looking at an estimate...

September 6, 2022
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06Sep

Portugal’s PM announces aid for pensioners and families amid inflation crisis

The President of the Republic, Marcelo Rebelo de Sousa, has already promulgated the Government's decree establishing exceptional support measures for families to mitigate the effects of inflation. According to a note published on the official website of the Presidency of the Republic, the Head of State also promulgated the Government's decree allowing the return of gas for consumers with an annual consumption of less than or equal to 10,000 m3 to the regulated tariff regime. This note was released by the...

September 6, 2022
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06Sep

The world’s largest retirement funds: 2022

Ranked by total assets, in millions. U.S. fund data are as of Sept. 30, 2021, from the P&I 1,000, published Feb. 14; non-U.S. fund data are as of Dec. 31, unless otherwise noted. Defined benefit and defined contribution breakouts were not available or applicable to all non-U.S. funds. Rank Fund Country Assets DB assets DC assets 1 Government Pension Investment Japan $1,730,900 $1,730,900 2 Government Pension Fund Norway $1,437,111 3 National Pension South Korea $797,968 $797,968 4 Federal Retirement Thrift U.S. $774,176 $774,176 5 ABP Netherlands $630,358 $630,358 Read More @Pionline 578 views

September 6, 2022
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05Sep

US. ESG, CIOs on crash course with politics

How 'woke' a public pension plan portfolio is depends on which state it's located in As executives and trustees of public pension plans navigate the balance between political demands and fiduciary duties, they are encountering legislators and governors to the right and the left telling them what they must do or cannot do, but without offering much guidance on how to do it while still setting deadlines for action. Often depending on the political color of the state, public pension executives...

September 5, 2022
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05Sep

UK. What policies will Liz Truss pursue as Britain’s new prime minister?

Truss set out a series of proposals during Tory leadership contest, but what can and will she deliver in office? The policy focus of a Truss prime ministership will, inevitably, be largely a work in progress, given she is taking office amid a hugely turbulent economic period. But during a long leadership campaign the new PM has set out a series of proposals and plans for government: Taxation and cost of living Truss’s clear economic priority is to cut taxes, a move...

September 5, 2022
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05Sep

$23.6 trillion in assets sets record for plans

World's largest retirement plans grow 8.9% as the era of easy money ends Assets of the world's 300 largest retirement plans rose 8.9% last year to a record $23.6 trillion, in what could prove a bittersweet end to an unprecedented era of easy money, according to the latest annual survey by Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute. Last year's healthy gain was smaller than the 11.5% surge logged in 2020, when policymakers around the world put...

September 5, 2022
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05Sep

Philippines. Reforming the private pension system

The Philippine private pension system has serious flaws that need to be fixed. It is not portable, not funded, not adequate, not actuarially fair, not sustainable. As a consequence, it does not ensure the continued well-being or provide a comfortable living for our retirees, especially future retirees coming from the millennial workforce and the next generation. Based on a 2018 study by the Philippine Institute for Development Studies (PIDS), the Philippines will be an ‘aging population’ by 2032 when 7...

September 5, 2022
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