News Archives - Page 444 of 983 - Pension Policy International

15JunJune 15, 2022

US. Recession, stagflation risks top concerns for managers

As the U.S. stock market officially entered a bear market, investor gloom continues to grow as global profit expectations and fears of stagflation reach the highest point since 2008, according to the results of Bank of America's June Global Fund Manager Survey. Of the 300 surveyed fund managers, which oversee a total of $834 billion in assets, expectations of global growth were at a net -73% in June, down from a net -72% in May and reaching a new lowest...

June 15, 2022

News2022, Investment, Risk, US

15JunJune 15, 2022

UK. Work and Pensions Committee to examine auto-enrolment pension contributions and pensions for gig-economy and self-employed workers

The Work and Pensions Committee inquiry into saving for later life continues with an evidence session featuring witnesses from unions, business federations, and representatives from Uber, Nat West, Tata, and Co-Op. Purpose of the session MPs are expected to examine whether the UK’s pension system is still fit for purpose, 20 years after the pensions commission was first set up. The Committee is likely to explore whether auto-enrolment minimum contribution rates should rise and how employers and trade unions can help put...

June 15, 2022

NewsAuto enrollment, Informal Sector, UK

15JunJune 15, 2022

Hong Kong Pension Pot Shrinks 11% on China Market Turmoil

It’s been a bad year for Hong Kong residents counting on Greater China for their retirement savings. The mandatory provident fund -- Hong Kong’s pension system -- has lost about 11% since the start of 2021, walloped by China’s industry crackdowns and Covid Zero policy, which overshadowed gains in US assets. That erased HK$130 billion ($17 billion) in total, or about HK$28,300 for each account at the end of May, according to researcher MPF Ratings Ltd. The retirement losses add to...

June 15, 2022

News2022, China, Hong Kong, Investment, Political economy

15JunJune 15, 2022

Millennials, Gen Z worry about retirement, sustainability, employer values

Money, politics, and stress are all factors affecting younger generations' willingness to stay in a job. A newly released study by Deloitte, a professional services networked, surveyed nearly 15,000 millennial and Gen Z professionals to see what their top priorities were in the workplace, as the Great Resignation continues. The survey by Deloitte found that workers from the millennial and Gen Z age groups are more likely to bring their political opinions to the workplace. The 2022 study by Deloitte...

June 15, 2022

News2022, Gen Z, Millennials, System Characterization, US

14JunJune 14, 2022

US. New York State Common allocates $350 million for in-state co-investments

New York State Common Retirement Fund, Albany, committed $350 million total to a pair of investment funds through its In-State Private Equity Investment Program. The pension fund committed another $50 million to the Hudson River Co-Investment Fund III, in addition to the $300 million previously committed, confirmed Mark Johnson, a spokesman for Thomas P. DiNapoli, the state comptroller and sole trustee of the $279.7 billion pension fund. The pension fund also announced a $300 million commitment to the new Hudson River...

June 14, 2022

News2022, Investment, US

14JunJune 14, 2022

UK. TPR’s new DB funding code expected in September 2023

The Pensions Regulator expects its much-anticipated new defined benefit funding code to be in place and operational by September 2023, according to its latest corporate plan. In the document published on June 13, the regulator explained that the delay in the new funding rules, and in its second consultation on the matter, has allowed it to take the time it needs “to develop the right shape for our DB funding code”, while wanting to take the “opportunity to learn from...

June 14, 2022

News2022, CDC, Regulation, UK

14JunJune 14, 2022

Iranian labor minister resigns amid protests against soaring living costs

Iran’s labor minister resigned on Tuesday amid daily nationwide protests by pensioners, merchants and workers against soaring living costs. While it was not clear if Hojatollah Abdolmaleki’s resignation was directly related to the month-long protests, a senior MP blamed his “incompetence” for the unrest. The semi-official Tasnim news site said his resignation followed “mounting criticism for his handling of the labor market and a meagre rise in the retirement pensions.” ”His failure to create a planned number of jobs and the growing...

June 14, 2022

News2022, Income, Iran

14JunJune 14, 2022

United States: IRS Announces New Retirement Plan Pre-Examination Program

The Internal Revenue Service announced last week that it was piloting a pre-examination retirement plan compliance program beginning this month. This program involves the IRS notifying an employer by letter in advance that the employer's retirement plan was selected for an upcoming examination. The letter gives the employer a 90-day window to review its retirement plan's document and operations to determine if they meet all current tax law requirements. If the employer does not respond within 90 days, the IRS...

June 14, 2022

News2022, Regulation, US

13JunJune 13, 2022

Pension investors launch campaign against dual-class share structures

Leading UK and U.S. pension investors managing more than $1 trillion have launched a campaign to stop companies using dual-class share structures that concentrate voting power in the hands of certain shareholders at the expense of others. Launched by British railways pensions scheme Railpen and the non-profit Council of Institutional Investors (CII), others backing the Investor Coalition for Equal Votes (ICEV) include the New York City Comptroller's Office and the Washington State Investment Board. Companies with dual-class structures have two or...

June 13, 2022

News2022, Corporate Governance, Investment, UK, US

13JunJune 13, 2022

Pension funds are exploring to step in crypto

Grayscale CEO Michael Sonnenshein same that a lot of pension fund corporations are wanting to feature crypto to clients’ portfolios. Talking with CNBC, Grayscale CEO Michael Sonnenshein said there’s still interest in we tend toll as together with cryptocurrencies in people’s pension portfolios, despite the recent market volatility. He noted that more pension funds are exploring the chance, whereas keeping one eye on the restrictive landscape. In keeping with Sonnenshein, we are defrayal time with politicians and a few of...

June 13, 2022

News2022, Investment, Risk

June 2022