March 2021
30Mar

PensionBee targets £55m capital raise as IPO plans confirmed

PensionBee is aiming to raise £55m through issuing new shares, as the pension provider has confirmed its intention to list on the London Stock Exchange. The group, which first made its intentions public on March 23, today (March 30) published its registration document for an IPO on the LSE. Read also UK women have up to 45% less in pension at retirement than men The £1.5bn AUA company is applying for admission in the high growth segment of the main market on...

March 30, 2021
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30Mar

Lebanon crisis robs pensioners of cash cushions

Samir Merhi returned to Lebanon in 2009, hoping the fortune he made abroad would let him retire comfortably at home, but the country's economic crisis has upended his dreams and forced him to leave again. For four decades, Merhi said he made "millions" working in the fashion and construction industries in Britain and the Gulf, but draconian controls imposed by Lebanese banks have trapped his life savings. Speaking in a hotel in Beirut's commercial district of Hamra, Merhi said he was...

March 30, 2021
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29Mar

South African retirement fund guidelines are changing – how will this affect you?

South African retirement savings are governed by the Pensions Fund Act. Within this act, Regulation 28 lays out the maximum percentage of a fund that can be invested in different asset classes. For example, only 30% is permitted to be invested offshore. This aims to force diversification and prevent savers from keeping all their eggs in one asset basket. WHAT ARE THE PROPOSED REGULATION 28 CHANGES? The changes mean to make it easier for funds to invest in infrastructure and provide a way...

March 29, 2021
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29Mar

UK women have up to 45% less in pension at retirement than men

The UK pensions system disadvantages women compared to men, with females having between 25% to 45% less in their pension pots at retirement, new data has shown. According to analysis from professional services consultancy Barnett Waddingham, the gender pension gap begins to diverge most after the age of 32, with men contributing up to £1,500 ($2,068) per annum more into their pension than women. This is despite contributing the same percentage of their salary. The research, which analysed the data and saving...

March 29, 2021
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29Mar

US. Pension relief paves way for more de-risking

The $1.9 trillion American Rescue Plan Act signed by President Biden contains the most important changes in single employer pension funding relief rules since the introduction of the Pension Protection Act in 2006. What is changing? The new rules enforce two key changes in how minimum required contributions (MRCs) are calculated. Read also Retirees who pay the most in taxes make only $36,000 a year on average, study finds Firstly, the Act extends and enhances the Interest Rate Stabilization mechanisms brought in over the last decade (specifically, Moving...

March 29, 2021
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27Mar

Retirees who pay the most in taxes make only $36,000 a year on average, study finds

Retirees who have the most money pay the most in taxes, according to a recent working paper, but they’re not necessarily rich. “Most of the tax burden is carried by the top quintile of households,” Anqi Chen, co-author and assistant director of savings research at the Center for Retirement Research at Boston College, told Yahoo Money. But “it's important to keep in mind that when we think about the top quintile of households — the top 20% — they're not...

March 27, 2021
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26Mar

Chile begins debate on third pension withdrawal amid second wave of the pandemic

The Constitution Committee of the Chamber of Deputies will analyze five legislative initiatives, opposed by the Government and presented by parliamentarians and pro-government members, and will decide whether to merge them into a single one, since they have similar characteristics. Read also Colombia govt presents capital markets bill The approval of a third withdrawal is almost assured, although it has generated much debate in recent months and the Government has threatened to appeal it in courts, under the premise that close...

March 26, 2021
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26Mar

US. Single-Employer Plans Can Lower Target Returns to 4% and 5%

What can corporate allocators expect now that the pension relief bill has passed? For starters, they can target lower returns and pursue less risky investment strategies. Plan sponsors at single-employer pension plans can reduce their return targets to as low as 4% or 5%, versus higher targets of 6% or 7%, when they extend their amortization periods to 15 years as a result of the stimulus bill, according to calculations from asset manager Insight Investment. Earlier this month, several provisions passed...

March 26, 2021
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26Mar

New Zealand. Investment or speculation: KiwiSaver fund enters the bitcoin era

NZ Funds Management’s KiwiSaver growth fund has invested in bitcoin, and chief investment officer James Grigor​ expects that within five years it will feature in more KiwiSaver schemes. Read also Cryptocurrency called next great investing opportunity The KiwiSaver provider changed its offer documents in October to allow it to invest in cryptocurrencies for the first time. Grigor said bitcoin had become a commodity, with many of the attractive hallmarks of gold, which investors often bought as a store of value in times...

March 26, 2021
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26Mar

Swiss pension fund posts $500m decarbonisation mandate on IPE Quest

An unnamed Swiss pension fund is looking for a global equity solution aligned with EU climate benchmark requirements for a $500m (€423m) mandate, according to a new search on IPE Quest. The fund said it is looking to decarbonise its global passive equity exposure with a rule-based carbon and ESG-optimised solution. According to search QN-2686, the solution should match the EU Climate Transition Benchmark (CTB) requirements. The investor specified that it wants minimal regional, sector and style deviation from the index,...

March 26, 2021
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