July 2022
14Jul

SSNIT reveals huge disparity among pensioners: Highest pension is GH¢142,000, while lowest is GH¢300 monthly.

The top ten highest paid pensioners in Ghana receive between GH¢142,567.90 to GH¢42,187.83 every month whilst the lowest on the scheme receive between GH$300 and above, the Social Security and National Insurance Trust (SSNIT) has revealed. The Social Security and National Insurance Trust (SSNIT or the Trust) is a statutory public institution charged under the National Pensions Act, 2008 (Act 766 as amended by Act 883) with the administration of Ghana's Basic National Social Security Scheme. Its mandate is to cater...

July 14, 2022
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14Jul

US. Biggest Investor Worries Are Inflation and Recession Risk

Top retirement income concerns for investors are inflation and recession anxiety, a new report reveals. The Alliance for Lifetime Income and CANNEX research from the “Protected Retirement Income and Planning Study” found that four out of five U.S. workers age 45 to 75 cited concerns that high inflation will reduce their spending power in retirement (81%) and that a recession will drive the economy downward and may reduce the amount of retirement income they can expect (79%). Retirement income anxiety is...

July 14, 2022
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13Jul

UK pensions insurance deals to rise more than 25% in 2022-adviser

Britain is likely to see around 35 billion pounds ($41.62 billion) in pensions buy-in and buy-out deals in 2022, up more than 25% from 2021, consultants Hymans Robertson said on Wednesday. Such deals involve offloading the risk of company defined benefit, or final salary, pension schemes to an insurer. Pensions' funding positions have improved following government and central bank stimulus due to the COVID-19 pandemic, making such deals cheaper for some companies, industry specialists say. The deals remove balance sheet risk for...

July 13, 2022
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13Jul

U.S. Seniors Worried About Inflation in Retirement

Four out of five Americans age 50+ say they are worried about inflation in retirement, according to a new survey from F&G. This feeling is even more acute among pre-retirees (84%) vs. 76% of retirees. The survey also revealed 71% of Americans are worried about a recession and 66% are worried about rising healthcare costs. The survey also found that Americans age 50+ are considering various approaches to mitigate their retirement worries likely due to the current economic climate. Sixty-two percent...

July 13, 2022
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13Jul

Proposal to step up economic security for pensioners in Bahrain

Bahrain's new Parliament will study a proposal to step up economic security for retired people.The services committee had finalised the proposal and submitted it to the Parliament bureau but it wasn’t submitted for review by outgoing MPs during their last session, said its chairman Ahmed Al Ansari yesterday.Parliament elections are due later this year and the new MPs will review the proposal during their first session. The proposed law aims to establish an economic protection system for retirees who have served...

July 13, 2022
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13Jul

Australia’s biggest pension fund braces for prolonged slowdown

Australia’s largest pension fund sees the global economy struggling for about two more years as businesses and households adjust to tighter monetary and fiscal policies. Investors have been conditioned to think that market pullbacks are a short-term phenomenon but the current crisis is different, according to Mark Delaney, chief investment officer of the A$260bn ($175bn) pension giant AustralianSuper Pty. “It takes 12 months to two years for tighter monetary policy to impact on the economy – and monetary policy is just...

July 13, 2022
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12Jul

Three-fifths of European employees want additional pensions advice from employers

Almost three-fifths (58%) of employees across Europe showed high or very high interest in accessing professional advice on managing their pensions via their employer, according to research from Alight Solutions. The Retirement perception index, undertaken in partnership with the University of Granada, was carried out among 2,400 employees in businesses across multiple sectors in the UK, Germany, France, Italy, Spain and the Netherlands, exploring employees’ awareness, confidence and interest in their national pension system, and their interest in additional support...

July 12, 2022
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12Jul

Pension Funds Forge Ahead With Sustainable Investing, Despite Politicization

Even as sustainable investing becomes a political football, pension funds and other asset owners in Europe and North America are adopting sustainable investment practices for their portfolios, according to a study by Morningstar Indexes. The “Voice of the Asset Owner” survey was based on 14 interviews with asset owners. They generally saw investing using environmental, social, and governance metrics “as a core element of investing rather than a specialist niche,” according to the study. The respondents said their use of ESG...

July 12, 2022
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12Jul

UK. FCA appoints new chair

Ashley Alder has been announced by HM Treasury as the new chair of the Financial Conduct Authority (FCA) and is expected to take up the role in January 2023, taking over from Richard Lloyd who has served as interim chair since May 2022. Alder is currently chief executive officer of the Securities and Future Commission (SFC) in Hong Kong, a role he has held since 2011, and also chairs the board of the International Organisation of Securities Commissions (IOSCO) and...

July 12, 2022
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12Jul

New guide to help pension funds tackle global deforestation

A new interactive guide to provide pension funds with the tools they need to ensure their investments are not driving deforestation across the globe is launched today by Global Canopy, Make My Money Matter and SYSTEMIQ. This year, research revealed that £2 in every £10 individuals save into their pensions in the UK is linked to companies and financial institutions at high risk of deforestation, jeopardising many schemes’ ambitious commitments to achieve net zero.. How to achieve deforestation-free pensions provides practical...

July 12, 2022
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