November 2021
19Nov

South Africa. Government pension fund freezes R70 billion mandate with PIC

The Government Employees Pension Fund, Africa’s biggest pension fund, said it may take as long as a year to negotiate a new mandate with Public Investment Corporation that will allow it to enter into new unlisted investment deals. The PIC oversees a R70 billion unlisted investment fund for the GEPF, but its mandate lapsed in March, said Musa Mabesa, the GEPF’s principal chief executive. While deals initiated before it ended can be completed, new ones can’t be concluded, he said. The...

November 19, 2021
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19Nov

What happened at COP26 and what does it mean for pension scheme investments?

What happened at COP26 and what does it mean for pension scheme investments? COP26 drew to a close on Saturday 13th November, a day later than scheduled, as delegates from 197 countries pushed to finalise a deal which aims to limit global warming and accelerate the shift of the world's economies to a greener future. But what is in the deal, known as the 'Glasgow Climate Pact', and what does it mean for pension schemes? Read also One-third of UK pension schemes...

November 19, 2021
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19Nov

US. For a workforce in flux, retirement plans and benefit options may be increasingly important

The tight labor market shows no signs of easing in the coming year, likely making benefits and retirement plan options an important part of employee recruitment and retention. “This open enrollment season is an important time for employers to get the pulse of their workforce and staffing needs as they face another year of competition for talent,” said Sri Reddy, senior vice president of retirement and income solutions for Principal Financial Group. Principal asked retirement plan participants and plan sponsors about...

November 19, 2021
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18Nov

Mexico. Pensions will consume 16.5% of the federal budget next year

About one-sixth of the 2022 federal budget will be used to pay pensions as a record 1.17 trillion pesos (US $56.6 billion) will end up in the pockets of retired workers next year. According to the 7-trillion-peso (US $338.8 billion) budget approved in the lower house of Congress last Sunday, the outlay on pensions will increase 6.2% in 2022 and represent 16.5% of the total budget. Read also UK. Could CDC solve the USS crisis? The 1.17 trillion pesos will go to...

November 18, 2021
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18Nov

One-third of UK pension schemes to set climate risk targets

A third of UK pension schemes have set, or are in the process of setting, targets to reduce their exposure to climate-related risks, but a similar proportion do not plan on doing so themselves. That is according to a new report from the Association of Consulting Actuaries (ACA), which has identified an emerging division in pension scheme attitudes to climate risk. Although 33% were at least in the process of setting climate risk targets as of July this year, 28% said...

November 18, 2021
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18Nov

US’s shot at a sustainable future

By John D. Vincent The Infrastructure Investment and Jobs Act recently passed by Congress and signed into law by President Joe Biden on Nov. 15 will help to fuel America's economy for the next decade, driving sustainable and innovative growth across multiple regions and sectors. It is less ambitious and more focused than first envisioned but, under the bipartisan deal, the IIJA will invest approximately $1 trillion in revitalizing America's transportation, energy infrastructure, clean water infrastructure and broadband, among other priorities....

November 18, 2021
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17Nov

US. Major Pension Fund Adds Leverage As Assets Push Half A Trillion

The CalPERS Pension Fund, has resolved to change its investment allocation next year. The new asset mix reduces public equity exposure adding exposure to private equity, fixed income and real assets. However, the more interesting angle is that total exposure for the fund is now 105% rather than 100%. That is to say, the fund will borrow to fund its investment portfolio. Read also US. For a workforce in flux, retirement plans and benefit options may be increasingly important Leverage Though the fund...

November 17, 2021
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17Nov

UK. Investment consultants publish ESG metrics for consistent reporting

A group of investment consultants working in the UK has come up with a list of environmental, social and governance (ESG)-related metrics for all public equity and public credit asset managers to report on, or work towards being able to report on, as soon as possible. The Investment Consultants Sustainability Working Group (ICSWG) said the list was based on metrics that institutional investors were increasingly seeking to collect from asset managers. Anthony Soothill, chair of Telefonica UK Pension Plan Trustees, is...

November 17, 2021
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17Nov

Bangladesh. Guardian Life launches “Ajibon Pension Plan” – A Complete Retirement Solution

Believing in "Insurance for All", Guardian Life has been at the forefront of innovation in terms of products, services and business models to minimize financial risks of customers. As Guardian Life believes in customer-first policy, the company has always been committed in meeting the diverse needs of the customers. To cover more people under the shade of Guardian Life, a new product- "Ajibon Pension" plan has been launched which is a first of its kind in Bangladesh, states a press...

November 17, 2021
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17Nov

Nigeria. Pension schemes subscribers increased by 3.6% year-on-year in 2020 – PenCom

The National Pension Commission, PenCom, has disclosed that the total membership of the pension Schemes increased by 3.6% from 8.95 million from December 2019 to 9.3 million in December 2020. This is according to the Commission’s recently released 2020 Annual Report. Growth in the industry is said to have been triggered by factors such as increase in the level of compliance by the public and private sectors owing to steps taken by the commission to improve compliance and coverage, as well...

November 17, 2021
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