April 2021
01Apr

Mercer commits to net zero by 2050 in UK, Europe and Asia

Mercer has targeted net-zero carbon emissions by 2050 for UK, European and Asian clients with discretionary portfolios and the majority of its multi-client, multi asset funds domiciled in Ireland. The company said this represented a combined total of £31.5bn in assets under management as of 31 December 2020, adding that it would seek to achieve its net-zero goal by reducing portfolio relative carbon emissions by at least 45 per cent from 2019 baseline levels by 2030. Following the creation of a...

April 1, 2021
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01Apr

Ireland. Pensions complaints process needs more teeth

Have a complaint about an investment? You can bring it to the Financial Services and Pensions Ombudsman (FSPO) and potentially benefit from compensation of up to €500,000. Have such concerns about a pension, however, and you can bring it to the same office, but don’t expect a windfall, even if you should be due one. Yes, it’s a curious state of affairs that the FSPO has greater oversight to award compensation against a wide range of financial services providers, including...

April 1, 2021
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March 2021
31Mar

World’s Top Pension Fund Faces Moment of Truth on China Debt

The world’s largest pension pot will soon have to choose between political sensitivities and cold hard returns. With FTSE Russell set to proceed with a plan to add Chinese debt to its benchmark global bond index from October, Japan’s Government Pension Investment Fund will now have to decide whether to put its money into China’s sovereign debt, or risk lower returns elsewhere. Read also Thailand plans new retirement plan to support its aging population Investing Japanese pension money in Chinese government debt...

March 31, 2021
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31Mar

Thailand plans new retirement plan to support its aging population

Thailand aims to create a new retirement program to support an aging population that will add about 1 million new retirees annually starting in 2023. Prime Minister Prayuth Chan-Ocha wants to ensure that Thais can receive income upon retirement, government spokeswoman Rachada Dhnadirek said Tuesday, after the cabinet approved in principle a new national retirement plan. The program will be mandatory for all employees who aren't participating in other retirement plans, she said. Read also South African retirement fund guidelines are...

March 31, 2021
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31Mar

New Zealand. How KiwiSaver could be used to supercharge innovation

KiwiSaver has grown tremendously since it launched in 2007, but it is pretty vanilla. Most investments are lazily thrown into listed stocks and bonds – the scheme is designed that way. We could be using some of this money to invest in such alternatives as startups, scaling successful businesses to go international, and infrastructure that we need, as is done routinely internationally. KiwiSaver is big enough and old enough to ask how we can unleash the power of capital towards the...

March 31, 2021
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31Mar

Guyana. IDB study calls for overhaul of pension system

With Guyana’s pensionable cohort projected to reach 20% of the total population size by 2050, a complete overhaul of its pension system is being recommended by a recent Inter-American Development Bank (IDB) Study. “The financial sustainability of the pension scheme is at risk, and… without any major reform the increasing pension expenses…will erode the government’s ability to provide other relevant services to the population,” the study stressed, while warning that the window of opportunity for reform is closing rapidly as...

March 31, 2021
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30Mar

Canada’s Largest Federal Pension Plan Divests From US Private Prisons

Government pension plans provide a sense of security to millions of workers globally — allowing workers to sleep more soundly knowing they will have money to support themselves and their families. But most pensioners have no idea where their money is actually being invested. Imagine the horror of discovering that your family’s security is actually being attained by separating someone else’s family. This is precisely what just happened in Canada as pensioners discovered their money was being invested in private...

March 30, 2021
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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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