April 2022

Nigeria. PenCom to fine PFAs over pensioners’ delayed payment, others
05Apr

Nigeria. PenCom to fine PFAs over pensioners’ delayed payment, others

The National Pension Commission has vowed to sanction Pension Fund Administrators over the spate of delays in the payment of pension benefits, among other related infractions. The commission stated this in its ‘Revised regulation on the administration of retirement and terminal benefits.’ “A PFA that fails neglects or refuses to enlighten the retiree on the features of Programmed Withdrawal and Retiree Life Annuity to enable the retiree to make an informed decision shall be liable for an administrative sanction of N500,000,”...

April 5, 2022
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UK. How to prepare for the Pension Schemes Act
05Apr

UK. How to prepare for the Pension Schemes Act

New pension regulations will come into force this year. What will they mean for trustees, employers and savers? Further provisions of the Pension Schemes Act 2021 are set to come into force in 2022, aimed at protecting the retirement funds of savers in defined benefit (DB) pension schemes. What will this mean for trustees, employers and savers, and how can they prepare? The new notifiable events regime is the most pressing agenda item for scheme trustees and employers in their role...

April 5, 2022
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04Apr

UK. Majority of young savers adverse to risk in their pensions

Just over a quarter (26 per cent) of savers aged 18-30 feel they can afford to take on some risk with their pensions, even though they are many years away from retirement, new analysis from PensionBee has revealed. The survey, which included responses from over 500 British savers, discovered that only 7 per cent of young savers reported that they were currently invested in a high-risk pension scheme, despite having the longest time horizon to recoup any losses. PensionBee also found...

April 4, 2022
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04Apr

France. Macron and Le Pen battle over pensions as French election race tightens

With France's presidential race tightening ahead of Sunday's first round vote, favourites President Emmanuel Macron and far-right challenger Marine Le Pen battled over pension reform on Monday. Opinion polls have long predicted Macron will win a second term but Le Pen has tightened the gap, with polls showing the 44-year old president with only a six-point advantage in a likely run-off on April 24. Le Pen has benefited from a campaign focused on purchasing power on which she doubled down on...

April 4, 2022
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04Apr

Ghana. NPRA embarks on pension education for informal sector workers

The National Pensions Regulatory Authority (NPRA) as part of its quest to improve informal pension coverage in Ghana has embarked on an outreach programme in Oti Region to create awareness of pensions. The Head of Corporate Affairs, Nana SifaTwum, told the Ghanaian Times in Accra on Wednesday, that the move is to educate and sensitise both formal and informal sector workers on pension matters. He said the outreach programme which would begin on Monday, April 4 and ends on Friday, April...

April 4, 2022
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04Apr

Impact investing has the power to create social change, but we need to measure it

As our world faces a myriad of environmental, social and geo-political challenges, there can be little doubt that radical changes must be made to ensure a sustainable and equitable future for generations to come. The UN’s latest report on climate change sends a stark warning: we have passed the point of no return. We must move quickly to find alternative sources of energy and new forms of technology. The terrible situation in Ukraine has further highlighted this need, not only for...

April 4, 2022
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US. Saving for retirement is the top financial priority for just 17% of adults, survey shows
01Apr

US. Saving for retirement is the top financial priority for just 17% of adults, survey shows

Saving for retirement appears to be taking a backseat to other financial considerations for many Americans right now. Just 17% have made saving for their post-working years their top financial priority for 2022, according to First National Bank of Omaha’s latest financial wellness survey. This is despite 59% of respondents worrying that they won’t be able to retire by age 65. Additionally, 46% of those surveyed said they have less than $15,000 saved for retirement. The survey was conducted in February...

April 1, 2022
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GPIF asigna $ 6.2 mil millones al nuevo índice de acciones ESG Japan
01Apr

GPIF allocates $6.2 billion to new ESG Japan equity index

Japan's Government Pension Investment Fund allocated ¥760 billion ($6.2 billion) to a new ESG index, the FTSE Blossom Japan Sector Relative index, GPIF President Masataka Miyazono said Wednesday. Read also AIG shifting $150 billion to BlackRock The Tokyo-based pension fund, the world's largest with ¥199.3 trillion in assets, said in a news release that FTSE Russell's ESG ratings as well as evaluations of company management's "attitude toward (the) risks and opportunities of climate change" will be considered when selecting constituents for...

April 1, 2022
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Why Society Needs To Change How We Think About Aging
01Apr

Why Society Needs To Change How We Think About Aging

With the Age Discrimination in Employment Act coming into force back in 1967, the notion of age discrimination has a long history. Unfortunately, it’s an issue that we still grapple with today, and whereas it’s easy to assume it’s only a problem for those in and around retirement age, a survey from Senior Living suggests it can kick in as early as our 40s. The research, which saw over 1,100 Americans over 40 years of age quizzed about their workplace...

April 1, 2022
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March 2022

U.S. funds remain vigilant over exposure to Russian securities
31Mar

U.S. funds remain vigilant over exposure to Russian securities

U.S. pension funds large and small are monitoring their portfolios for exposure to Russian securities and are asking their money managers to divest those investments as Russia continues to wage war in Ukraine. Members of the investment staff of the $41 billion defined benefit plan of Indiana Public Retirement System, Indianapolis, have been "actively monitoring and managing its Russian-related investments leading into and throughout the invasion into Ukraine," a statement from the fund said. Indiana Gov. Eric J. Holcomb issued an...

March 31, 2022
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