August 2022
24Aug

United States: ESG And Political Climate Changes

Preparing for the increasingly complex maze of state-level regulations regarding ESG-based investments. Amid growing interest by some investment managers to consider environmental implications and anticipated regulatory change in their portfolios, Environmental Social Governance (ESG) investments are also increasingly catching the attention of state regulators. Along with public warnings from state attorneys general, some states are reacting by barring major banks from government contracts and pulling money from asset managers they deem as overstepping on climate action. Before determining an investment strategy,...

August 24, 2022
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24Aug

What we can learn from the world’s largest sovereign wealth fund

IF you’re cautious about where stock markets are headed next, you’re in good company. Norway’s sovereign wealth fund - the largest in the world - has reported it had a challenging time in the first half of the year and its chief executive Nicolai Tangen is unconvinced the bear market for shares is over quite yet. So what can we learn from this? Norway’s sovereign wealth fund was started in 1996 in order to invest the proceeds of a burgeoning...

August 24, 2022
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24Aug

US. How to reform Social Security to ensure a sustainable future

According to the Social Security Administration, approximately 56 million people depend on Social Security (OASI) for their retirement. For about half of older adults, it provides at least 50% of their income, and for one in four older adults, it provides at least 90% of their income. In addition, it offers social insurance protection to workers who become disabled and to families whose breadwinner dies. In July, the Social Security Board of Trustees reported that Social Security benefits will be...

August 24, 2022
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24Aug

Should Pension Funds ‘Invest’ in Crypto?

By John Rekenthaler My headline poses what seems to be a rhetorical query. Should pension funds risk other people’s money by buying volatile, poorly regulated assets? Obviously not. We therefore know how this column will proceed. Having erected this straw man, the author will triumphantly torch it in a blaze of self-righteousness. Such was my initial plan, after reading about pension funds with cryptocurrency-related losses. Houston Firefighters Relief and Retirement Fund invested $25 million in Bitcoin and Ethereum. The State of...

August 24, 2022
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23Aug

New York City pension fund returns plunge in difficult year

The five pension funds within the $239.5 billion New York City Retirement System each posted negative returns for the fiscal year ended June 30, ranging from -7.17% to -9.77%, according to data posted on the website of Brad Lander, the city comptroller and fiduciary for the five pension funds. The individual pension fund results are in sharp contrast to the returns for the fiscal year ended June 30, 2021 when all posted net results ranging from 24.8% to 28%. Mr. Lander reported...

August 23, 2022
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23Aug

Australia’s Pensions Suffer Worst Year Since Financial Crisis

Australia’s pensions posted their worst annual performance since the global financial crisis as markets were roiled by central banks’ aggressive rate hikes and the war in Ukraine. Read also Should Pension Funds ‘Invest’ in Crypto? Guardians of the world’s fifth largest pension pot shed A$92.8 billion ($64 billion) on investments in the fiscal year through June 30, the biggest loss for the period since 2009, according to Australian Prudential Regulation Authority data released Tuesday. That saw the pool of savings fall...

August 23, 2022
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23Aug

South Korea. At stake is how to reach consensus on contentious issues

The government has finally set about to reform the four major public pensions. In a policy briefing to President Yoon Suk-yeol last Friday, the Ministry of Health and Welfare said it would integrate the national pension with the three occupational pensions ― for public servants, veterans and teachers. It will then link them to the basic pension for people aged 65 and older. The ministry plans to complete the national pension's financial calculation by next March and submit a...

August 23, 2022
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23Aug

Dependents to exceed workers earlier than expected in Taiwan: NDC

Taiwan's dependent population will outnumber its working population earlier than previously forecast, according to a report released by the National Development Council on Monday. In its latest biennial report, the government's top planning agency maintained its forecast of Taiwan becoming a "super-aged society" -- with 20 percent of the population 65 or older -- in 2025. Read also US. How to reform Social Security to ensure a sustainable future The working population, however, is expected to become smaller than the dependent population...

August 23, 2022
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23Aug

Ghana: Pension Scheme Provides More Reward – SSNIT DG

The Director General of the Social Security and National Insurance Trust (SSNIT), Dr John Ofori-Tenkorang, has argued that the pension scheme provided more reward to clients than they invest during their days of active service. He lauded the scheme as generous and said although workers contributed 11 per cent of their basic salary, the SSNIT scheme guaranteed members up to 60 percent of the average of their best three years' salaries and paid them monthly pensions till they were no...

August 23, 2022
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Liz Truss
22Aug

UK. Liz Truss eyes merger of regulators

Conservative party leadership candidate Liz Truss is eyeing up plans to merge three of the financial regulators, but advisers say her plans are destined to fail. Read also Renewable energy’s charm still growing for investors According to FTAdviser's sister title The Financial Times, Truss will launch an immediate review of the roles and responsibilities of the regulators if she wins her party's leadership election next month. It could see the Financial Conduct Authority, the Prudential Regulation Authority and the Payments Systems Regulator...

August 22, 2022
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