July 2021
15Jul

EU. ESG Disclosure Regulation: a closer look at Article 8 and Article 9

March 2021 saw Regulation (EU) 2019/2088 of the European Parliament and of the Council of November 27 2019 on disclosure of information related to environmental, social, and governance (ESG) criteria in the financial sector (SFDR) finally becoming applicable. This regulation, issued in the context of the EU Commission’s commitment to the Sustainable Development Goals of the UN 2030 Agenda for Sustainable Development, represents a major milestone by introducing unprecedented harmonised requirements on sustainability-related disclosure in financial products to a multitude...

July 15, 2021
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14Jul

Green pension 21x more effective than common climate change efforts

UK savers have been urged to make their pension green after research revealed that this was a “staggering” 21 times more effective at cutting carbon footprints than stopping flying, becoming a vegetarian and moving to a renewable energy provider combined. Read also Is there really an ESG bubble? The analysis, from Make My Money Matter (MMMM), Aviva, and Route2, found that those with an average sized pension pot of £30,000 who moved from a traditional fund to a sustainable option can...

July 14, 2021
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14Jul

Jamaica. Dead or alive? Pension payments continue

The Accountant General's Department (AcGD) is struggling to ascertain if some of its high-risk pensioners — aged 90 and over — are actually alive as it continues to make monthly payments to them. Accountant General Anya Jones says efforts to verify whether these pensioners are alive have been hampered by the novel coronavirus pandemic as officers of the department are sometimes barred from entering the homes of these individuals.The department has been paying out millions to pensioners, either without verification,...

July 14, 2021
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14Jul

He runs the worst-funded public pension in the country. Here’s his ‘good news’ story

It’s a safe bet that many people, seeing their work described in print as “among the worst in the country,” might cringe and try to avoid the media. But David Eager has spent the past five years running the Kentucky Public Pension Authority, with an eye to turning the system around. A big part of his work has been increasing transparency and educating people about the nitty-gritty of public pensions, how Kentucky got into the mess it’s in, and how...

July 14, 2021
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13Jul

UK. Women expected to be hit hardest if triple lock scrapped

Women will be hit the hardest if the government scraps the triple lock on the state pension, as they are almost twice as likely to rely on the benefit, according to Barnett Waddingham (BW). Research from the firm showed that 30 per cent of women do not have any private or workplace pensions, and were therefore likely receive a state pension only at retirement, while 17 per cent of men were in the same position. BW’s survey results showed that this...

July 13, 2021
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13Jul

France. Macron confirms he will pursue Pension Reform

French President Emmanuel Macron has announced a series of economic measures, looking beyond the pandemic, although the much-anticipated pensions reform will be delayed until Covid is "under control". Obligatory vaccines and the extension of the health pass made the headlines following Macron’s live TV address on Monday evening, but the President also sketched out his vision for France’s post-Covid economy. Some of the measures he announced represent a return to the priorities he set at the beginning of his tenure, while...

July 13, 2021
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13Jul

US. Biden’s Pension Rescue Seen as Bigger Help for Corporate Bonds

U.S. President Joe Biden’s planned pension rescue could result in even more money being shunted into investment-grade corporate bonds than previously thought, according to Citigroup Inc. strategists. The Pension Benefit Guaranty Corp., which insures pensions, issued rules on Friday for bailout money for multi-employer plans that are severely underfunded. These plans can apply for rescue funds as part of the $1.9 trillion pandemic-relief bill signed into law in March. The PBGC said that the pensions are eligible for $94 billion of...

July 13, 2021
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13Jul

Nigeria. Avoiding A Future Of Retired Destitute

NIGERIA’S Population has grown from 45.1 million in 1960 to the current 211.4 in 2021. By the United Nations estimates, the population grew by 2.5 per cent from its 2020 figure. Read also Jamaica. Dead or alive? Pension payments continue And according to National Bureau of Statistics (NBS), 33 per cent of those within the workforce who were willing and looking for job were unemployed as at the close of 2020. According to the International Monetary Fund (IMF), the informal sector...

July 13, 2021
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13Jul

Canadian green bond market riding high after record quarter

Canadian companies issued a record amount of green bonds in the second quarter, and bankers expect the debt instrument will become more popular because issuers are able to charge a premium that environmentally-friendly investors are willing to pay. With corporations and financial institutions facing growing pressure from investors to embrace more environmentally-sustainable practices, green bonds are seen by some as one way to work towards the transition to a clean energy future. One of the reasons they are catching on in...

July 13, 2021
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12Jul

Lack of climate risk analysis in US federal retirement fund sparks concern

The board overseeing the largest public retirement plan in the United States has not comprehensively assessed the risks climate change poses to its investments, a U.S. federal agency says, sparking fears retirement savings pots could be at risk. Read also US. How Benchmarks Keep Pension Stakeholders in the Dark The Federal Retirement Thrift Investment Board (FRTIB) says its investment strategies already price in such risks to its portfolio as they track broader indices of companies coming under new pressure to disclose...

July 12, 2021
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