August 2025
26Aug

Dutch Central Bank strengthens nature risk rules for pension funds

The Dutch Central Bank (DNB) has revised its guide on managing climate and nature-related risks, originally introduced in 2023. The move follows growing concerns about the impact of climate change and biodiversity loss on the Dutch financial system, particularly pension funds and insurance companies. The updated guidance reflects DNB’s expectation that pension funds must identify and manage climate and nature risks effectively. It also introduces enhanced best practice recommendations, shaped through consultations with industry stakeholders such as Ortec Finance. As part of its...

August 26, 2025
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26Aug

India. Switching from UPS to NPS? Govt clears one-time window with strict eligibility rules

The Ministry of Finance has introduced a one-time, one-way switch option for Central Government employees currently enrolled under the Unified Pension Scheme (UPS), allowing them to move to the National Pension System (NPS). According to an official memorandum dated August 20, 2025, this facility is available to UPS subscribers up to one year before their superannuation or three months before voluntary retirement. Employees facing dismissal, removal, or disciplinary action will not be eligible. Once the switch is exercised, employees will no...

August 26, 2025
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25Aug

UK. Thousands of pensioners overcharged £10,000 on pension withdrawals

Thousands of pensioners have claimed back more than £10,000 after being overcharged tax on their pension withdrawals, new analysis shows. A handful of people in the UK were given a refund worth more than £100,000. The HMRC figures, which were obtained by Royal London through a freedom of information (FOI) request, show an increase in the number of refunds claimed in 2023-24. Pension freedoms, which came into force from 2015, gave over-55s a range of options over how to use their defined contribution (DC) pension pot. Generally,...

August 25, 2025
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25Aug

US. Bitcoin 401(k)s thrill crypto investors but carry serious risks

US President Donald Trump signed an executive order on Aug. 7, allowing crypto in 401(k) retirement plans. The crypto industry has called the move a win for adoption, but investment professionals warn it comes with significant risk. The order “Democratizing Access to Alternative Assets for 401(k) Investors” directed US financial regulators to expand access to crypto and private companies in 401(k) plans. The 401(k) employee-sponsored investment scheme is one of the most popular retirement plans in the US. As of 2024,...

August 25, 2025
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25Aug

South Korea:New strategy to encourage young citizens to enrol in national pension system

The South Korean government is promoting a new policy called first-time youth national pension by supporting three months of insurance premiums for youth turning 18 years old when they first enrol in the national pension. According to the ministry of health and welfare the three months of premium payment support will be available to those between 18 to 26 years of age entering the scheme for the first time. The policy will apply to those who turn 18 in 2027....

August 25, 2025
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25Aug

Afghanistan resumes pension payments for civilian and military retirees

The Ministry of Finance has announced that, under the directive of the supreme leader of the Islamic Emirate, pension payments for civilian and military retirees across Afghanistan have officially resumed. Mohammad Rahmani, Director General of the Pension Fund at the Ministry of Finance, told a press conference in Kabul that the payments will follow a well-organized plan and fixed schedule to ensure timely distribution. He added that only retirees whose documents have been fully processed and verified by the special...

August 25, 2025
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22Aug

ESG round-up: UK pension fund to poll members on defence investment

Avon Pension Fund is set to poll its beneficiaries on their stance on investment in the defence sector, to inform a decision later this year by its Pension Committee on how to approach the sector. Under UK fiduciary law, a pension fund may take non-financial considerations into account in its investment decisions if, among other things, they have good reason to believe that a majority of scheme members would share their views. The survey will aim to gather views...

August 22, 2025
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22Aug

US. Texas state pension funds face benchmark dilemma over banned investments

The Employee Retirement System of Texas (ERS) is set to switch to a custom benchmark from Bloomberg allowing it to exclude the long list of companies it is banned from investing in from performance comparisons. Texan statewide pension funds are currently prohibited from investing in companies allegedly boycotting fossil fuel or Israeli investments, or that allegedly have operations in Iran. Lists of such firms are determined by the state’s comptroller. The comptroller also directed funds to divest from China late last year. Separate...

August 22, 2025
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22Aug

Saudi Arabia to launch voluntary pension and savings scheme for foreign workers

Saudi Arabia is preparing to announce a new voluntary pension and savings program that will be open to both Saudi and foreign workers, according to the International Monetary Fund’s (IMF) latest Article IV consultation report, cited by Al-Eqtisadiah newspaper. The program is designed to boost household savings and is expected to help curb the outflow of workers’ remittances abroad. The Public Pension and Savings Program is anticipated to be unveiled soon. Foreign remittances from Saudi Arabia rose 14 percent last year to...

August 22, 2025
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21Aug

Pensioners on the frontline of Argentina’s fiery politics

For sure, these veteran "militants" are vocal. Sometimes they are even feisty. But they are also gray-haired, wrinkled and at times struggle to keep their balance. "For God's sake!" 87-year-old Ricardo Migliavacca shouted during a recent police advance that nearly toppled him. "How disgraceful!" He recovered only with the help of his sturdy blue Zimmer frame. Migliavacca is just one of hundreds of pensioners who have taken part in weekly protests against Argentina's right-wing President Javier Milei. They want a pension increase to soften...

August 21, 2025
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