September 2021
10Sep

Nigeria is struggling to get informal workers to save

Between a slumping economy and gnawing inflation, Nigerians are finding life tough. Temilola Balogun, who owns a clothing shop in Lagos, the commercial capital, sighs that it is hard to save anything. This is typical: most adults in Africa’s most populous country do not pay into a pension. Few will be able to retire without being supported by their children. Read also Nigerian pension fund asset rises to N12.8 trillion as RSA contributors hits 9.4 million To change this, in 2019...

September 10, 2021
News, Slider, , , ,
Read more...
10Sep

US. Pension tension: 15 states with the worst public pensions

Public pensions took a beating during the Great Recession of 2008, and a recent report from the Equable Institute showed there to be no net recovery from those losses. The report also noted that total unfunded liabilities for statewide plans had increased from nearly $100 billion in 2001 to $1.35 trillion in 2019, with an estimated 2020 total of $1.62 trillion as a result of negative cash flows and market underperformance. Unsurprisingly, the pandemic had something to do with that:...

September 10, 2021
News, Slider, , ,
Read more...
10Sep

Danish pension sector adopts common climate reporting rules

Denmark’s pensions and insurance lobby announced today it has adopted a set of common climate reporting rules for the sector, as part of the ongoing work in the Nordic country to meet its 2030 emissions reduction goal. The new code – based on the comply-or-explain principle – covers CO2 emissions from investment assets, damage prevention, active ownership and the use of paper in everyday life, according to the announcement from Insurance & Pension Denmark (IPD). It has been devised as part...

September 10, 2021
News, Slider, , ,
Read more...
10Sep

Jamaica. John Robinson Is New Chairman Of The FSC

The Ministry of Finance and the Public Service has announced that former Deputy Governor of the Bank of Jamaica (BOJ), John Robinson, has been appointed as the new chairman of the Financial Services Commission (FSC). Mr. Robinson is a career economist and banker with experience in the financial sector spanning more than three decades, 36 of which were spent at the BOJ up to his retirement in 2020 as Deputy Governor. During his tenure, Mr. Robinson held critical roles at the...

September 10, 2021
News, Slider, ,
Read more...
09Sep

Private pension plans in Latin America and sustainable finance

The private pension plan (PPP) market in Latin America is the region’s largest institutional client segment, with more than USD 900 billion in assets under management (AUM) at the end of 2020. And with projections forecasting AUM to reach USD 1.4 trillion by 2023, the PPPs are a reference point for smaller investors. Along with sovereign wealth funds (SWF), Latin America’s PPPs control a significant share of assets relative to GDP and thus can be very influential in the...

September 9, 2021
News, Slider, , , ,
Read more...
09Sep

China to accelerate developing multi-tiered social security system: action plan

China will accelerate its efforts in developing a sustainable multi-tiered social security system that covers the entire population in both urban and rural areas and follows fair and uniform standards, according to the country's latest human rights action plan. Titled "Human Rights Action Plan of China (2021-2025)," the document was released on Thursday by the State Council Information Office. Read also China launches wealth management product pilots for retirement in four cities Under the principle of social security benefits for all eligible,...

September 9, 2021
News, Slider, ,
Read more...
09Sep

APG launches first index funds to tap Dutch sustainability drive

APG Asset Management, the largest pension fund provider in the Netherlands, said on Wednesday it would begin offering index products and said its fund clients had pledged an initial 1 billion euros ($1.19 billion) to a low-carbon strategy. APG's asset management unit oversees around 613 billion euros on behalf of pension schemes and companies, serving 4.7 million members in sectors from cleaning to construction. In partnership with index provider Qontigo, part of Deutsche Boerse, and with BlackRock, the world's biggest asset...

September 9, 2021
News, Slider, ,
Read more...
08Sep

UK. Pensions triple lock scrapped as another Conservative manifesto pledge broken

The pensions triple lock pledge has been scrapped for the 2022/23 financial year in another break of pledges made in the Conservative party manifesto. Read also UK. Scottish fintech firm set to help build pensions dashboard The moves announced today mean that pensions will not rise by 8% next April, but will instead rise by the rate of inflation, which currently stands at 2.5%. The triple lock ensures the state pension will increase in line with either the rate of inflation, wages,...

September 8, 2021
News, Slider, ,
Read more...
08Sep

Sweden. AP2 continues sustainability journey with stellar returns and costs

Swedish buffer fund, AP2, has incorporated Paris-aligned rules into its benchmark construction for global and emerging market equities. This year it turns its attention to Swedish and Chinese equities. The moves come on the back of the best-ever half year return for the SEK421.2 billion fund and its lowest ever costs. AP2 is one of the originals, a long-time ESG investor that has sustainability at its core. It started to divest from fossil fuel exposed companies in 2014 with a rationale...

September 8, 2021
News, Slider, , , ,
Read more...
08Sep

US. Retirement Reforms Included in Key House Committee Budget Language

The Ways and Means Committee of the U.S. House of Representatives will begin debate Thursday on a set of major budget reconciliation recommendations, as directed by Section 2002 of the Concurrent Resolution on the Budget for Fiscal Year 2022. The mechanics of congressional budget reconciliation legislation are complicated, but as explained in a white paper published by the Center on Budget and Policy Priorities, reconciliation bills are not subject to filibuster. In other words, that means the legislation only needs...

September 8, 2021
News, Slider, , ,
Read more...