October 2017

12Oct

Schroders Poll: Sustainable Investing Remains A Challenge For Institutional Investors

Sustainable investing continues to present a challenge to nearly four out of five institutional investors, according to a new survey from global investment manager Schroders, with performance concerns and a lack of transparency/data leading the way. Schroders polled some 500 institutions for its latest Global Institutional Investor Study, including surveyed a wide range of global pension funds, foundations, endowments and sovereign wealth funds. Key highlights: 77% of survey respondents reported that investing sustainably remains a challenge. Almost half (48%) say...

October 12, 2017
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11Oct

Nobel Prize winner Richard Thaler may have added $29.6 billion to retirement accounts

Richard Thaler, the recent recipient of the Nobel Prize in economics, has helped retirement savers substantially in the past decade — to the tune of about $29.6 billion, perhaps, according to fellow researcher Shlomo Benartzi. Though it is hard to calculate an exact estimate on how much has been saved in retirement specifically because of Thaler’s work, which focuses on behavioral economics and how to get people to stash away more money for their futures, clearly the implementation of Thaler’s...

October 11, 2017
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11Oct

South Africa. PIC looting concerns raise red flags for proposed state pension fund

Concerns that politicians view the Public Investment Corporation (PIC) as a cash cow will loom large over discussions to establish an overarching pension fund for South Africa. The new fund wants to consolidate the more than 5 000 public and private retirement funds into one giant mandatory institution, possibly under government control. The new centralised retirement fund or National Social Security Fund (NSSF) will centralise current retirement funds estimated to be worth R3trn. It aims to force South Africans to save for retirement,...

October 11, 2017
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11Oct

Blockchain Could Revolutionize Retirement Planning

The latest industry to adopt blockchain for its operations is the pension planning industry. The retirement services industry is estimated to have a total value of pension assets of $19.1 trillion in the United States. Despite its massive size, however, the industry still operates in data silos and with Excel sheets. Blockchain could streamline operations and make it easier for pension account planners and holders to manage payouts. A paper by consulting firm Cognizant Technology Solutions Corporation (CTSH) earlier this...

October 11, 2017
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11Oct

China. Revised rules to benefit pensions

China released revised regulation on securities insurance and underwriting on Tuesday that gives insurance funds priority to subscribe to new shares offline, a move to benefit the public and improve market-oriented stock pricing. The revised regulation said at least 40 percent of new shares placed offline should first seek public offering funds, social security funds, and basic pension funds, according to the official website of Legislative Affairs Office of the State Council. It added that a certain proportion of new shares...

October 11, 2017
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10Oct

Global Funds Eye Australia’s $1.8 Trillion Pension Pool

More global fund managers are setting up shop in Australia, drawn to the nation’s A$2.3 trillion ($1.8 trillion) pension savings pool and new local investment opportunities. THL Credit Inc., an alternative credit manager based in Boston, said in September that it hired a director in Australia. New York-based credit hedge fund GoldenTree Asset Management opened an office in Sydney last month after appointing a local managing director. Oaktree Capital Management, which already manages Australian pension money, headed Down Under last...

October 10, 2017
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10Oct

Nigeria. Contributory Pensions Scheme Vs Pension Reform Act 2014 Amendment: A Preamble

It is clear from the One-Day public hearing on the multiple bills to amend the Pension Reform Act 2014 at the House of Representatives in Abuja on Thursday 28 September, that important stakeholders in the pensions sector, namely, the Nigeria Police Force, Nigeria Labour Congress, Trade Union Congress, Central Bank of Nigeria, Nigeria Employees Consultative Association, Securities and Exchange commission, National Pension Commission, Nigerian Union of Pensioners and Pension Funds Operators Association of Nigeria, among others, have decided to...

October 10, 2017
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10Oct

Canada. CDPQ and CKD IM acquire Mexican wind and solar assets of Enel Green Power, for a total capacity of 1,712 MW

La Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, and CKD Infraestructura México (CKD IM), a consortium of Mexican institutional investors, announced today the acquisition of 80% of a portfolio of eight wind and solar assets owned by Enel Green Power(Enel), a global leader in renewable energy. Following this transaction, Enel will remain the operator and retain 20% of the portfolio. This is a major investment for CDPQ and CKD IM, a group consisting of Mexican pension fund managers...

October 10, 2017
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10Oct

Why the average retirement age is rising

About half of today’s working-age households will not be able to maintain their standard of living in retirement. Social Security will provide less relative to pre-retirement earnings; 401(k) balances are meager; and half the private sector workforce does not have an employer-sponsored plan. At the same time, with rising life expectancy the number of years spent in retirement has increased dramatically, health care costs are high and rapidly rising, and interest rates are at historic lows. Retirees are in trouble. Three...

October 10, 2017
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10Oct

Here’s How Much the Average 40-Something American Has Saved for Retirement

By the time you reach your 40s, there's a good chance you'll have had about 20 years of working experience under your belt. And that means you should, ideally, be in a decent place as far as your retirement savings go. Unfortunately, a large number of American 40-somethings are already behind on building their nest eggs. They need to start catching up immediately. Among U.S. households headed by someone aged 44 to 49, the average retirement savings balance is $81,347,...

October 10, 2017
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