June 2020
02Jun

Pandemic Shines a New Light on Climate Change and ESG Investing

Scientists and environmentalists have reported a drop in daily carbon dioxide emissions as a result of the pandemic, and the connection between the pandemic and its effect on climate change has spurred plan sponsors and companies to support environmental, social and governance (ESG) investing, says Matt Seymour, chief executive officer at RiskFirst. “The pandemic is really going to emphasize the rationale and need for people to look at ESG investments in an integrated and fundamental way,” he notes. Read...

June 2, 2020
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02Jun

Japan. Relieve non-regular workers’ anxiety through reform of pension system

By The Japan News Editorial There is great significance in improving the foundation of the quality of life in old age for part-timers and other non-regular workers. Laws related to pension system reform have been passed. The range of people eligible for employee pensions will be expanded to include short-term workers from companies with fewer employees. Read also India. Modifications in National Pension Scheme financially untenable: Finance Ministry Currently, companies are required to join the employee pension program if they meet the...

June 2, 2020
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02Jun

Greece. Significant raise for 236,000 auxiliary pensions

As of Tuesday, more than 236,000 pensioners will see their auxiliary pensions increased by an average of 75.47 euros, according to estimates by the Single Social Security Entity (EFKA). The hikes only concern retirees who saw their auxiliary benefits reduced in the summer of 2016 per the so-called Katrougalos law because the sum of their main and auxiliary pensions exceeded €1,300. The biggest category of raise recipients is the 206,000 former salary workers insured with the Social Security Foundation...

June 2, 2020
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01Jun

US pension plans warned they will run out of money by 2028

The weak financial condition of seven US public pension plans threatens to deplete their assets by 2028, leading to severe risks for the living standards of thousands of American employees and retired workers. Many US public pension plans had not fully recovered from the 2007/08 financial crisis before coronavirus struck, triggering turmoil across financial markets. The correction in the US stock market has increased the long-term structural problems across the entire US public pension system, particularly for the weakest...

June 1, 2020
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01Jun

UK university pension fund to axe controversial investments

The UK university pension scheme is to end investments in tobacco, coal and controversial weapons manufacturers after bowing to pressure for policy changes from its membership of academics and higher education staff. The £75bn Universities Superannuation Scheme, the UK’s largest private pension fund by assets, will divest its holdings in tobacco companies and exclude future investments in thermal coal producers along with businesses with ties to cluster munitions, white phosphorus and landmines. Simon Pilcher, chief executive of USS Investment...

June 1, 2020
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01Jun

Nigeria ranks 64th in pension adequacy index –Report

The Allianz Group has put Nigeria in the 64th position in the global ranking of pension development, highlighting the need for further pension reforms in the country. The first edition of the group’s pension report, titled ‘Allianz Global Pension Report 2020: Ready or not’, analysed different country’s pension systems with its proprietary pension indicator, called Allianz Pension Indicator. The API examined the pension systems in terms of sustainability and adequacy of 70 countries to provide a comprehensive view of the...

June 1, 2020
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May 2020
29May

China to raise pensions, among other social protection measures to reduce impact of COVID-19 crisis

China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said on Thursday. Read also US. The Federal Employee Retirement Plan Should Add, Not Delete Chinese Stocks "The average per-capita annual income in China is 30,000 yuan (USD 4,193), but there are over 600 million people whose monthly income is barely 1,000 yuan (USD 140), not enough to rent a room in...

May 29, 2020
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29May

Allianz unveils the first edition of its Global Pension Report

Allianz recently unveiled the first edition of its Global Pension Report, which analyses pension systems from countries around the world using Allianz's very own pension indicator - the Allianz Pension Indicator (API). The indicator follows a simple logic: it begins with an analysis of demographic and fiscal preconditions, after which it looks at national pension systems based on two crucial dimensions: sustainability and suitability. It is therefore based on three pillars and takes into account a total of thirty...

May 29, 2020
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29May

Transaction costs make up 37% of UK pension investment costs: CACEIS

Transaction costs make up an average of 37 per cent of the total costs relating to pension scheme investments, data from CACEIS has revealed. This makes transaction costs the second largest outlay in scheme investments, after management costs which make up 42 per cent of total investment costs. The proportion of investment expenses made up by transaction costs has increased from CACEIS’ previously reported figure of 25 per cent. CACEIS said this is in part due to new methodology...

May 29, 2020
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29May

US. Department Of Labor Simplifies Electronic Disclosure Requirements For Retirement Plans

For years, employers have struggled to satisfy Department of Labor (DOL) requirements for providing legally required notices and documents to retirement plan participants through electronic means. The DOL itself has long acknowledged that its electronic disclosure regulations were outdated and unnecessarily burdensome for employers. On May 27, the DOL published new regulations that simplify the process for providing legally required notices and documents to retirement plan participants. At a high level, these new regulations provide a safe harbor...

May 29, 2020
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