August 2022
11Aug

Jamaica. $70m in pension benefits heading to court

More than $70 million in pension benefits for 161 beneficiaries who are yet to be identified by the Financial Sector Adjustment Company Limited (FINSAC) could be handed over to the Supreme Court. In its 2021 annual report that was tabled in Parliament on Friday, the company said it placed advertisements in the press on March 14, 2021, in an attempt to locate beneficiaries of the Jamaica Mutual Life Assurance Society pension scheme. It said the March 14 advertisement was the fourth...

August 11, 2022
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11Aug

U.S. University launches degree that prepares students to address aging society’s growing health care needs

UTSA will launch a new bachelor of science degree program in Health, Aging & Society this fall. The new program, which will be offered through the College for Health, Community and Policy (HCAP), will be the first of its kind in the San Antonio area and is designed to address the growing need for health care support occupations and community- and social-service professionals. Students will learn critical skills to begin a career focused on managing and coordinating hospitals, nursing homes...

August 11, 2022
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11Aug

UK. TPR advises employers to shield schemes from refinancing costs

Companies and pension scheme trustees should take steps to protect their schemes and their employer covenant from the fallout of any refinancing that they have undertaken, according to David Fairs, the Pensions Regulator’s executive director of regulatory policy, analysis and advice. In a blog published on August 10, Fairs acknowledged the trend of employers seeking to boost their liquidity in the aftermath of the coronavirus pandemic. This, he noted, would include the agreement of new borrowing facilities, or extension of...

August 11, 2022
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10Aug

How this man went from unemployment to early retirement in the Caribbean

“I’m having the time of my life,” Mike Whalen beams, when I meet him at his restaurant in Ambergris Caye, Belize. “I’m still learning as I go, but what better place to do it than a tropical island? I live and work on ‘Coconut Drive’! How could I possibly have a single, solitary regret?” In July 2020, at the age of 51, Mike had reached a dire crossroads. He’d worked at AT&T in Oklahoma City for years, but after cutbacks...

August 10, 2022
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10Aug

UK. Pensions: More than 1 million workers not participating in workplace scheme

Around a fifth of workers at small medium sized (SMEs) enterprises that are eligible for a workplace pension are not participating in schemes, a new research shows. Analysis of the Department for Work and Pensions (DWP) data from Broadstone found nearly 1.2 million SME employees could be falling through the "pension accumulation gap". Read also U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy  It also found pension participation is "stalling" at SMEs, warning employers at these companies to...

August 10, 2022
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10Aug

US. Tough markets hit active asset managers striving for turnarounds

Some active managers have none of the luck. They shook up senior teams, swapped out their bosses and merged to build scale. But their efforts to overcome the yearslong erosion of assets and profit as investors shift from actively managed funds into cheaper, index-tracking products just took another blow. The latest round of earnings reports offer a bruising read. Rising inflation, Vladimir Putin's war in Ukraine and fears of a looming recession have dented investment performance, prompting investors to yank yet...

August 10, 2022
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10Aug

These 7 African countries have recorded highest pension fund asset growth

A recent report by the Organisation for Economic Co-operation and Development (OECD) has shown that global pension fund assets grew by over 10% to $38.5 trillion in 2021. The report focused specifically on pension fund assets in 68 countries or reporting jurisdictions, consisting of 38 OECD countries and 30 non-OECD countries in Eastern Europe, Asia and Africa. The report said in parts: "Overall, pension fund assets amounted to USD 38.5 trillion in a total of 68 reporting jurisdictions at end-2021. Most...

August 10, 2022
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09Aug

June Slump Causes $262 Billion Drop in U.S. Public Pensions’ Assets

Large public pension funds had a difficult second quarter, as the 100 largest U.S. public pension plans lost a combined $262 billion in funding during June, according to actuarial and consulting firm Milliman. The deficit between the estimated assets and liabilities widened to $1.521 trillion at the end of the month from $1.259 trillion at the end of May, as the public funds’ asset value dropped to $4.318 trillion from $4.566 trillion. crisisRead also U.S. public pensions suffer worst year since...

August 9, 2022
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09Aug

UK. Property a ‘risky’ investment for retirement pots

High interest rates and low capital growth could reduce retirement property pot savings by as much as 38 per cent, research by wealth manager Netwealth has found. While property investment has been a favoured option for boosting cash in retirement, the research found investment in additional properties or buy-to-let was usually outperformed by pensions. Analysis of different values of property growth, compared with the average pension projected growth over 20 years, showed property investment could significant reducing retirement pot savings by...

August 9, 2022
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09Aug

Dutch pension fund APG completes $600 million MaxCap agreement

Dutch pension fund APG has completed the $600 million mandate with non-bank lender MaxCap Group it agreed to three years ago and given itself the option to double that exposure to $1.2 billion, tapping the growing demand for funding at a time when banks are holding back. The asset manager has exercised the option it took out in 2019 to invest a second tranche of $300 million for first-mortgage loans across all real estate asset classes with MaxCap, which last year sold a...

August 9, 2022
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