News Archives - Page 467 of 983 - Pension Policy International

29MarMarch 29, 2022

AIG shifting $150 billion to BlackRock

American International Group hired BlackRock to manage up to $60 billion of its general account and up to $90 billion in its life and retirement investment portfolio, the insurance company announced on Monday. BlackRock will manage "certain liquid fixed income and private placement assets" and also will provide AIG with investment technology for both portfolios via Aladdin, the money manager's risk-management system, the insurer said in a news release. AIG said in the release that the shift of assets to BlackRock...

March 29, 2022

News2022, Investment, Pension Management, Risk

29MarMarch 29, 2022

UK. Opperman calls for industry input on CDC expansion

Pensions minister Guy Opperman has called on the industry to work with government on expanding the nascent collective defined contribution market, though experts have previously warned that draft regulations are too strict to allow for real growth in the sector. Speaking at a Royal Society of Arts CDC forum on March 28, Opperman expanded on the draft regulations due to come into force on August 1, and expressed his support for the expansion of CDC beyond the single-employer arrangements currently...

March 29, 2022

News2022, CDC schemes, Regulation, UK

29MarMarch 29, 2022

US. SEC takes ‘monumental’ step on climate disclosure

More than a year in the works, the Securities and Exchange Commission unveiled its much-anticipated climate disclosure rule proposal this month, with major implications for the investor and business communities. "It's a monumental rule-making initiative," said Erin E. Martin, a Washington-based partner with law firm Morgan, Lewis & Bockius LLP who previously worked in the SEC's division of corporation finance. "This has been a long time coming, it's been highly anticipated by the public, it's an area that's of interest...

March 29, 2022

News2022, Climate crisis, Pension Management, Regulation, US

28MarMarch 28, 2022

US. Russia blocks NY pension systems from dumping $300M in Moscow stocks

New York’s pension systems want to dump nearly $300 million invested in the Moscow stock market, but can’t because Russia has blocked foreigners from selling shares. Since Russia began its invasion and brutal attacks on Ukraine, the trustees of all five NYC employee pension systems have voted to divest from $185.9 million in Russian companies and securities. “A vicious and unjust war continues to be waged on Ukraine, driving deaths, destruction and displacement of civilians. New Yorkers remain steadfast in solidarity...

March 28, 2022

NewsInvestment, Russia, US

28MarMarch 28, 2022

Ghana. SSNIT to expand coverage to cover more informal sector workers

Director-General of Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang, has said it's outfit is working to expand coverage of the scheme to cover all workers in the informal sector. According to him, SSNIT has introduced an informal sector pension fund to provide social protection to workers in the informal sector to secure their irregular incomes. Read also Ireland. State to pay €1 for every €3 a worker puts into new auto-enrolment pension scheme Director-General of Social Security and National...

March 28, 2022

NewsInvestment, Russia, US

28MarMarch 28, 2022

US. Kansas Employee Pension System Halts Russia Investments

Trustees who oversee the Kansas Public Employee Retirement System voted Friday to halt future investments in Russian assets amid the country's invasion of Ukraine. While some board members initially pushed for a full divestment, others said they would rather focus on the future and noted the fund’s current holdings in the country have been largely liquidated anyway, the Topeka Capital-Journal reported. Kansas has $36 million invested in Russian equities, as of Feb. 25. That accounts for about 0.14% of the pension...

March 28, 2022

NewsInvestment, Russia, US

25MarMarch 25, 2022

Over a third of people would accept lower pension savings for ethical investments

More than a third (37 per cent) of people would be willing to accept some reduction in their pension savings if their investments were made more ethically, a study by the High Pay Centre and Survation has found. Read also UK. Creating a sustainable retirement plan Of those surveyed, two-thirds (66 per cent) said that they wanted their pension fund to reflect their ethical values and beliefs. Almost a third (29 per cent) considered insufficient pension savings as the biggest threat to...

March 25, 2022

News, Slider2022, ESG, Investment

25MarMarch 25, 2022

US. Milliman analysis: Competitive pension risk transfer buyout rate hits all-time low in February, at 98.9%

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. During February, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 99.9% of a plan's total liabilities...

March 25, 2022

News, Slider2022, Pension Management, Risk, US

25MarMarch 25, 2022

UK. Investment approach is increasingly key to pension endgames

Aon has said that with 2022 promising to be another active year in the UK pension risk settlement market, an increasing number of schemes are focusing on their investment approach in the bid to be ‘settlement ready’. Aon’s recently released Global Pension Risk Survey 2021/22 showed that more UK defined benefit (DB) pension schemes are now opting for buyout as their long-term target rather than just self-sufficiency. To prepare for that, schemes are ever more aware that they need to...

March 25, 2022

News, Slider2022, Investment, Pension Management, UK

24MarMarch 24, 2022

China: National Pension Insurance Co receives green light to start operations

The CBIRC has given approval to the newly established National Pension Insurance Company to commence operations, making it the 10th standalone pension insurer operating in China. The business scope of the new company includes: annuity insurance, life insurance, accident insurance, health insurance; reinsurance business of the above-mentioned businesses; management of clients' yuan and foreign-currency denominated funds for the purpose of old-age security, etc. The National Pension Insurance Co is set up to serve as an impetus for the development of the...

March 24, 2022

News, Slider2022, China, savings, System Characterization

March 2022