News Archives - Page 401 of 956 - Pension Policy International

09AugAugust 9, 2022

Central Bank of Ireland launches climate change risk guidance for insurance sector

The Central Bank of Ireland has commenced a public consultation on proposals to introduce guidance on climate change risks for the insurance sector. The proposed guidance aims to clarify the Central Bank’s expectations on how (re)insurers address climate change risks in their business and to assist them in developing their governance and risk management frameworks to do this. The Central Bank has said that the increased frequency and severity of weather-related events linked to climate change are already having an impact...

August 9, 2022

News2022, Climate crisis, Ireland, Regulation

09AugAugust 9, 2022

Canada. Employment rate at historic high but aging population remains mostly out of work

A new study has found that although the employment rate for Canadians between 15 and 64 years of age (working age) is at a historic high, the overall labor market has yet to fully recover from the pandemic-induced recession due to the continued aging of the country’s population. The study was conducted by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. The study compares labor statistics for the first five months of 2022 relative to the same period in...

August 9, 2022

News2022, Aging, Canada, Labor Market

08AugAugust 8, 2022

UK. How to help the self-employed boost their pension savings

Just prior to the pandemic the self-employed made up about one in seven of the workforce, and while that is likely to have dipped somewhat through the pandemic, this remains much larger than a generation ago, driven by growth in self-employment in the decade after the financial crisis. Despite the growth in the number of people who are self-employed over the years, pension savings for this group have continued to fall. A recent report from the Office for National Statistics paints...

August 8, 2022

News2022, Informal Sector, savings, UK

08AugAugust 8, 2022

South Africa. Proposed new ‘two-pot’ will allow one withdrawal per year from savings

On 31 July, the South African government announced the proposal of a “two-pot” retirement system. The proposed system will allow people to save for non-retirement purposes (e.g. emergencies) via their retirement funds and access one third of their retirement savings when needed. You can withdraw money once a year, as long as there is money in the savings pot. "These amendments aim to encourage members to preserve their retirement savings by making it more flexible to accommodate unforeseen pressures that members face...

August 8, 2022

News2022, Regulation, South Africa, Withdrawals

08AugAugust 8, 2022

Australia is a nation of ‘accidental investors’. Is it time for more scrutiny of the superannuation system?

Margaret Thatcher sought to convert Britain from a nation of shopkeepers to one of shareholders. Compulsory superannuation and low rates – until recently – on traditional bank deposits have converted most Australians into accidental investors. Beginning in the 1980s, retirement arrangements changed from defined benefits (an inflation-indexed pension based on your final salary, paid by employers or government in return for regular contributions) to defined contribution schemes (at retirement you receive your and the employer’s payments, plus investment returns). Today, Australian...

August 8, 2022

News2022, Australia, Investment

08AugAugust 8, 2022

Nigerian Pension Fund Administrators pay N49.5 billion taxes in 3 years

Pension Fund Administrators (PFA) in Nigeria incurred a sum of N18.85 billion as income tax in 2021, a 15.6% increase compared to N16.31 billion spent in the previous year, and 31.4% increase when compared to N14.35 billion incurred in 2019. This brings the total tax expenses in the past three years to N49.5 billion, according to a report by the National Pensions Commission (PenCom). The report seen by Nairalytics- the research arm of Nairametrics, shows that Stanbic IBTC, ARM Pension,...

August 8, 2022

News2022, Pension Management

08AugAugust 8, 2022

US. Working in Retirement? Here’s Why It’s Great — and Why It’s Really Not

Retirement can mean different things to different people. For some, it's the time to travel the world and do the things they've always wanted but never had the chance to do. For others, it's the time to do absolutely nothing after working for decades. And for other people, it could mean continuing to work, just at their own discretion. There are no rules about the right way to retire. So if you somehow find yourself working during retirement, it's not...

August 8, 2022

News2022, Labor Market, US

05AugAugust 5, 2022

UK. TPR revamps guidance on fiduciary management tender processes

The Pensions Regulator has published updated guidance on the tender process for fiduciary management services and trustees, setting objectives for investment consultants as it prepares to take over regulation of these duties this autumn. Since December 2019, trustees have been legally required to run a competitive tender process when appointing fiduciary managers for a fifth or more of scheme assets, and have had to set strategic objectives for their investment consultancy provider. From this October, TPR will take over compliance-reporting and...

August 5, 2022

News2022, Regulation, UK

05AugAugust 5, 2022

Pensions, Crypto, And Trust: Digital Assets And Retirement Funds

Retirement planning is the primary objective of retail investors. Indeed, 47% of respondents in the 2022 CFA Institute Investor Trust Study indicated saving for retirement was their most important investment goal. Yet the conventional pathway to retirement savings - the traditional stock and bond portfolio - is not as effective as it used to be. Weaker diversification, declining real returns, and rising inflation all present major challenges to both defined benefit and defined contribution (DC) pension funds. As funds struggle...

August 5, 2022

News2022, Cryptocurrency, Investment, Pension Management

05AugAugust 5, 2022

Green bonds poised for revival after shaky start to 2022 — report

Green bond issuance got off to a shaky start in 2022, but picked up in the second quarter, according to data from the Climate Bonds Initiative published on Thursday . The investor-focused non-profit organization promotes large-scale investment in the low-carbon economy. It screens self-labeled green bonds, including green, social, sustainability, sustainability-linked and transition labeled debt. In the first half of 2022, issuance of bonds aligned with international climate targets reached a combined volume of $417.8 billion, a 27% drop from the...

August 5, 2022

News2022, Climate crisis, ESG, Investment

August 2022