April 2021
23Apr

Debate cycle by Observatory of European Systems of Complementary Social Pension Plans

The Observatory of European Systems of Complementary Social Pension Plans of the University of Barcelona, which was created a year ago, will launch its first dissemination activity for the audience on April 29. The activity is a debate cycle on complemenary social pension plans, that is, the set of actions to fulfil the public pensions from a private entrepreneurial and individual initiative. The first session of the cycle will talk about the latest recommendations on complementary social pension plans in...

April 23, 2021
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22Apr

UK. Two thirds of this year’s retirees at risk of running pension pot dry

Two-thirds (66 per cent) of those retiring in 2021 are at risk of running out of pension savings in their retirement, according to research from Standard Life Aberdeen. The research, which surveyed 2,000 UK adults who were either due to retire this year or had retired in the past 12 months, published today (April 21), found the class of 2021 planned to spend around £21,000 a year in retirement. And although this is almost £10,000 less than the average household income...

April 22, 2021
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22Apr

Australian regulator issues long-awaited climate risk guidance

Australia's prudential regulator unveiled long-awaited guidance for banks, insurers and pension funds on managing and disclosing climate-related risks, including physical, transition and liability exposures. Issuing a draft version for consultation, the Australian Prudential Regulation Authority (APRA) said the guidance paper did not create new requirements or obligations, but gave more clarity about its expectations. The guide was developed in consultation with peer regulators globally and is aligned with the recommendations from the global Task Force on Climate-related Financial Disclosure (TCFD), set...

April 22, 2021
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21Apr

China’s Coming Pro-Natalist Campaign

Birth rates in China are crashing. Last year, they fell to the lowest level since Mao Zedong founded the modern Chinese state in 1949. This poses immense long-term challenges for everything from pensions to labor markets. Beijing’s leaders realize this. This is why China’s notorious “one-child policy” was loosened nationwide to a two-child one back in 2015. Read also Asia Is Increasing Its ESG Asset Appetite But the next step will be far more dramatic. After decades of attempting to limit births,...

April 21, 2021
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21Apr

UK. Retirement app Pensionbee valued at £365m in London listing

Online pension management app Pensionbee (PBEE.L) has joined the London Stock Exchange in an IPO that values the business at £365m ($507m). The retirement savings app priced its shares at 165p each on Wednesday, the company said in a filing. Conditional trading began on Wednesday, with shares trading slightly below the offer price by mid-morning. Read also Vanguard launches price war in UK pensions market Pensionbee raised around £55m via the sale of 33m new shares and the sale of over 2...

April 21, 2021
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21Apr

Canada. CDPQ Real Estate arm ties staff pay to ESG goals in zero emissions push

Ivanhoe Cambridge, the real estate arm of Canada's second-largest pension fund, has tied employee and executive remuneration to hitting environmental targets as it commits to cut net carbon emissions to zero by 2040, its CEO said on Tuesday. Chief Executive Officer Nathalie Palladitcheff said Ivanhoe, which owns 1,100 properties globally, will add C$6 billion ($4.8 billion) in low carbon investments and, as an interim target, reduce carbon intensity by 35% by 2025. Since January, employee pay at Ivanhoe, including all its...

April 21, 2021
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20Apr

UK. Industry tightens up on pension scams as losses hit £10bn

Pension schemes face tougher due diligence requirements on transfer requests as new figures show the amount lost to pension scams and fraud has hit £10 billion five years after the introduction of the pension freedoms. Regulators, courts and The Pensions Ombudsman (TPO) have all made significant statements in recent months which cover both the fall-out from previous scams and the prevention of future scams. In its recent report, the House of Commons Work and Pensions Committee called on the government...

April 20, 2021
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20Apr

US. DOL Issues Cybersecurity Best Practices for Retirement Plans

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) on April 14 issued much-anticipated cybersecurity guidance for employee retirement plans. The essence of the guidance is that responsible plan fiduciaries have an obligation to ensure proper mitigation of cybersecurity risks. Read also Comfortable retirement still on track for most Americans despite pandemic – survey EBSA set out in the following materials on its website, although the "Online Security Tips" are directed more to plan participants than plan fiduciaries: Read also The...

April 20, 2021
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20Apr

Uganda To Train Pension Trustees

The Insurance Training College and Uganda Retirement Benefits Regulatory Authority (URBRA) have unveiled the commencement of a trustees training and certification programme intended to improve and enhance the professionalism of pension saving scheme trustees. According to the press statement, the training will be conducted by the institute on behalf of URBRA. The training is in line with the mandate of the Institute: promoting professionalism in the financial services sector as well as URBRA’s mandate of improving and promoting the development of...

April 20, 2021
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20Apr

A Fintech Revolution: How The Pandemic Accelerated The Adoption Of Digital Solutions

I don't know about you, but I haven't used the cash in my wallet since the onset of the lockdowns in March 2020. And I don't miss it at all. I've found that the digital financial life is fast, safe and provides easy ways to track. Digital, mobile and social channels are an indispensable part of everyday life. This was true before the pandemic but is even more definitive now. Economic lockdowns, social distancing and remote work have all contributed...

April 20, 2021
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