March 2026

Voluntary pensions are launched in Moldova

This event launches the private pension savings market, which was previously virtually non-existent in the country, despite a number of previous unsuccessful attempts to introduce voluntary pensions in Moldova. With the appearance of the first private pension fund, citizens have the opportunity to save for their old age on their own, in addition to the state pension. Contributions are exempt from taxation and will be capitalized to generate additional income in the future. Until now, Moldova’s pension system relied solely on...

Europe must close the rights gap for migrants and asylum seekers with disabilities

Migrants and asylum seekers with disabilities continue to face systemic exclusion from protection, support, and integration systems across the European Union, despite the EU’s human rights obligations. In response, IRAP and EDF have jointly launched a new policy brief, “A Pact That Excludes: Closing the Protection Gap for Migrants and Asylum Seekers with Disabilities in the European Union,” showing that EU migration and asylum systems remain largely inaccessible and discriminatory for people with disabilities. This briefing analyses the EU Pact on Migration and...

February 2026

Japan public pensions let domestic bond holdings slide as yields rise

Organizations managing public pension funds in Japan are keeping a smaller share of their assets in Japanese bonds, steering clear of buying in a trend that could add to the upward pressure on yields. The Federation of National Public Service Personnel Mutual Aid Associations had 19% of its holdings in domestic bonds at the end of 2025, well below its standard allocation of 25%. The organization has around 12 trillion yen ($76.8 billion) in assets under management. Similar, albeit smaller, declines...

UK. Reform’s pension plan could backfire and lead to higher council tax bills, experts warn

Reform’s flagship plans to force multibillion pound local government pension funds to invest in the UK risks backfiring and pushing up council tax bills, experts have warned. Nigel Farage’s party wants to merge the schemes to create a single British Sovereign Wealth Fund of up to £575bn. Richard Tice, the party’s business spokesman, set out a vision of a “fund patriotically backing British companies, buying and promoting British product… (with a) strategic UK growth mandate backing Britain all the way.” Across England and Wales...

South Korea. Pension service posts record investment gains of $161B on local bourse rally

The National Pension Service (NPS) posted record investment gains of 231.6 trillion won ($161 billion) in 2025, boosted by a sharp rally in Korean stocks that sent the local market soaring. NPS Investment Management lifted the fund’s total assets to 1.46 quadrillion won, according to the service's management arm. The NPS fund’s assets rose from 1.21 quadrillion won in 2024 to 1.46 quadrillion in 2025, while the annual return reached 18.82 percent. Since the fund was established in 1988, its cumulative return...

UK. FCA’s pension transfer plans are anti-competitive and anti-consumer

A healthy, efficient pension transfer market is an essential ingredient to helping people make the most out of their retirement savings. As we all start up auto-enrolment pensions every time we join a new employer, for most people consolidating their discarded pensions under one roof makes the most sense. It reduces administration, tracking, and decision-making, especially as clients approach retirement. Deciding when and how to take an income from a pension pot is tricky enough, but having multiple pension pots...

Pension funds moving to scenario-driven and dynamic portfolio construction approach

Pension funds are adapting their portfolio construction approaches as uncertainty becomes more structural, return dispersion widens, and traditional anchors for asset allocation weaken, according to a report from BlackRock. Its 2026 Institutional Investment Direction report, which analysed pension schemes in the UK, US, and Euro area, highlighted a move away from relying on a single base case and towards a more scenario-driven and dynamic approach to portfolio construction. Pension investors were rethinking what they invest in and how portfolios are implemented as outcomes...

EU’s pension gender gap persists as women receive 24.5% less

Women aged 65 or over in the EU received pensions that were 24.5% lower on average than men in 2024. The biggest average pension gaps were recorded in Malta (40.3%), the Netherlands (36.3%) and Austria (35.6), Eurostat informed on Wednesday. The smallest gaps were in Estonia (5.6%), Slovakia (8.4%) and Hungary (9.6%). Alongside averages, the data also compares pensions using the median — the middle value in a range — which is less affected by a small number of very high or...

Forever Chemicals Linked to Faster Aging in Middle-Aged Men, Study Finds

A new study shows that exposure to two specific 'forever chemicals' may accelerate biological aging, especially in middle-aged men. These chemicals – PFNA (perfluorononanoic acid) and PFOSA (perfluorooctanesulfonamide) – are just two of the thousands of 'forever chemicals', or to use the more technical term, PFAS (per- and polyfluoroalkyl substances). Used widely since the 1940s and 1950s, PFAS are found in raincoats, upholstery, non-stick pans, food packaging, firefighting foams, and much more. This vast range of synthetic substances was specifically designed to be durable. They...

Germany’s retirement savings shake-up: What banks need to know

Germany is overhauling its state-subsidised retirement savings framework, and financial institutions have a firm deadline to prepare for. The federal government approved a pension reform law in late 2025, with parliamentary proceedings underway in 2026. If passed — which appears near-certain — the legislation will bring the Altersvorsorgedepot (AVD), or retirement provision depot, into force from 1 January 2027. From that date, no new contracts under the old Riester model will be permitted. fincite, which offers an end-to-end digital asset...