News Archives - Page 432 of 957 - Pension Policy International

29AprApril 29, 2022

South Africa. How financially sound is the Government Employees’ Pension Fund?

The country’s biggest and most important pension fund is healthy, but there are some reasons to be concerned. The extraordinary rise in the value of the JSE between March 2020 and March 2021 stemmed three years of declining values within the Government Employees’ Pension Fund (GEPF) and has placed it in a sound financial position as far as short-term commitments are concerned. However, it is unlikely that investors will see another year where the JSE rises by 55%, which makes the...

April 29, 2022

News2022, Pension Management, South Africa

29AprApril 29, 2022

UK. Pension schemes remain uninsured for cyber risks

Nearly half of UK pension schemes still do not have insurance against cyber attacks, and a similar proportion are lacking the specialist skills needed to deal with the threat. That is according to a new report from risk advisory firm Crowe, which surveyed pension scheme trustees on the challenges facing them as fraud and cybercrime levels rise. Worryingly, 43% of respondents said that they had not tested the strength of their scheme's IT systems, processes and procedures for cybercrime protection, while...

April 29, 2022

News2022, Pension Management, Risk, UK

28AprApril 28, 2022

Q1 Was a Bad Quarter for Pension Investors, Says Willis Towers Watson Report

Pensions around the world had a rough first quarter, according to a new Willis Towers Watson report. The report lists the average returns and liability increases of Brazil, Canada, the Eurozone, Japan, Switzerland, the U.K., and the U.S. U.K. pensions took the biggest hit in Q1, with an average negative investment return of 9.9%. Discount rate benchmarks increased this quarter in all regions. Brazil has the highest average discount rate of 9.87%, followed by the U.S. and Canada with 3.93%...

April 28, 2022

NewsInvestment, Pension Management

28AprApril 28, 2022

EIOPA proposes new pensions info-gathering to close ‘important’ data gaps

The EU pension fund regulator has proposed collecting look-through data on IORPs’ investments in UCITs and derivative information as part of a move to strengthen its capacity to analyse emerging risks in the occupational pensions sector. In a consultation document, EIOPA said this capacity was “currently limited as it lacks crucial data in a number of areas”. Important data gaps had been identified, it added, namely in the area of derivatives and look-through information. The regulator is also proposing to amend current...

April 28, 2022

News2022, EU, Regulation

28AprApril 28, 2022

Puerto Rico teachers fail to overturn pension changes in debt plan

A federal appeals court has upheld modifications to teachers’ pensions under Puerto Rico’s debt adjustment plan, despite arguments from teachers’ associations that the changes violate the U.S. territory's law. The 1st U.S. Circuit Court of Appeals on Tuesday said that the federal law that authorized the commonwealth’s debt restructuring allowed a federally appointed oversight board to modify the pension obligations. The changes were part of the board’s wide-ranging restructuring for Puerto Rico, which was approved by a lower court in...

April 28, 2022

NewsDefined Benefit, Puerto Rico

28AprApril 28, 2022

US. Senators float bill to give participants more lump-sum buyout info

A bill requiring pension plan sponsors to provide participants and retirees with key information when offering lump-sum buyouts was reintroduced Wednesday in the Senate. The legislation, the Information Needed for Financial Options Risk Mitigation Act, referred to as the INFORM Act, would require plan sponsors offering buyouts to provide participants and beneficiaries a paper notice 90 days before the period in which they must make an election; a comparison of benefits, explanation of how the lump sum was calculated, ramifications...

April 28, 2022

News2022, Regulation, US

28AprApril 28, 2022

Nigeria. PENCOM Revises Regulation on Retirement and Terminal Benefits

The National Pension Commission (PenCom) has issued a revised Regulation on Retirement and Terminal Benefits for immediate implementation. This is the maiden comprehensive review of the Regulation since its initial issuance in 2007. The regulation guides the process of accessing retirement and terminal benefits by pension contributors and retirees under the Contributory Pension Scheme (CPS). In line with its consultative approach, PenCom obtained input from key stakeholders in order to ensure a more efficient retirement benefit administration. The revised Regulation...

April 28, 2022

News2022, Nigeria, Regulation

28AprApril 28, 2022

UK. TPR to issue fresh dashboards guidance in May

The Pensions Regulator will publish new guidance on pensions dashboards to support trustees and scheme managers in early May, it has revealed. At a seminar led by the Pensions Dashboards Programme on April 27, the watchdog also said that nudge communications to all schemes would begin at least a year before their staging dates, with these being aimed at pension trustees and public service pension scheme managers. TPR’s guidance will be updated in November once the DWP’s consultation response to regulations...

April 28, 2022

News2022, COVID-19, Innovation, Regulation, UK

27AprApril 27, 2022

US. New York City Wants to Amp Up Risk in Workers’ Pensions

New York City’s comptroller is the latest public official trying to change laws aimed at limiting risk in pension investments, as U.S. state and local pension funds try to plug shortfalls in a low-return environment. Comptroller Brad Lander, who oversees about $260 billion in retirement money for city police, firefighters, teachers and other public workers, is asking New York lawmakers for more flexibility to invest in private markets, high-yield debt and foreign stocks. The state comptroller’s office, which supervises another...

April 27, 2022

News2022, Investment, Regulation, US

27AprApril 27, 2022

How AI and robots are caring for the elderly in Taiwan’s ageing society

The idea that cities today will have a disproportionate number of elderly would have been laughable a mere century ago. As recently as 1950, global mortality rates for children were five times higher than they are now, according to Our World in Data. Yet, advancements in healthcare and sanitation standards are helping adults live longer than ever before. Taiwan, in particular, is estimated to become a super-aged society by 2025, with one in five being over 65 years old, said...

April 27, 2022

News2022, Aging, Healthcare, Taiwan, Technology

April 2022