November 2025
07Nov

US. Federal Guarantees Should Continue After Pension Risk Transfers

Nationally recognized ERISA attorneys Kevin O'Brien and Spencer Walters of Ivins, Phillips & Barker (IPB) have released a new white paper, "The Forgotten Promise: Why PBGC Retirement Benefit Guarantees Should Continue After Pension Risk Transfer Transactions."  Their paper challenges the Pension Benefit Guaranty Corporation's decades-old position that retirees lose federal protection once pensions are converted to annuities – a stance the authors argue contradicts the statute, legislative history, and the PBGC's own original interpretation. The paper traces how, in 1981, the PBGC took the...

November 7, 2025
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07Nov

UK. DB Funding Code offers trustees ‘opportunity to rethink investment governance’

The updated Defined Benefit (DB) Funding Code gives trustees a valuable opportunity to rethink their investment governance and focus more strategically on their scheme’s long-term objectives, Russell Investments fiduciary manager and client CIO, Aqib Merchant, has said. Speaking at the Association of Member Nominated Trustees (AMNT) Annual Conference, Merchant said the new regime should prompt trustee boards to reassess how their time and resources are allocated as they move towards endgame. “Endgame objectives and the DB Funding Code go hand in...

November 7, 2025
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07Nov

The real obstacle to EU capital market integration is unreformed pension systems

A pension system crisis is looming in the European Union. As their populations age, EU countries must address their often alarmingly high levels of unfunded public pension liabilities, which typically vastly exceed countries’ gross public debt levels (Figure 1). These liabilities are calculated from current life expectancies, effective retirement ages and pension benefit levels. Many, if not all, EU governments will in the coming years have to change these pension system provisions and renege on earlier promises made to...

November 7, 2025
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06Nov

Pension funds risk 33 per cent return loss from failed climate transition: Ortec

A failed global transition to a low-carbon economy could slash pension fund returns by as much as 33 per cent in the next 25 years, according to new modeling by Ortec Finance. In the face of rising physical and transition risks tied to climate change, Ortec Finance’s managing director of climate scenarios and sustainability, Maurits van Joolingen, says the modeling captures the profound uncertainty surrounding climate change, from technology deployment to geopolitical responses, but the risks to long-term portfolio performance...

November 6, 2025
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06Nov

More than half of Koreans distrust national pension amid backlash over premium hike plan

More than half of Koreans distrust the national pension system, with most respondents viewing current contribution levels as burdensome and opposing planned premium increases, according to a survey released Wednesday by the Korea Employers Federation (KEF). In the survey, 55.7 percent of respondents said they do not trust the National Pension Service, exceeding the 44.3 percent who said they do by 11.4 percentage points. Distrust was particularly pronounced among younger generations, with 69.2 percent of respondents in their 20s and 74.7...

November 6, 2025
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06Nov

UK savers pulling cash from pensions ahead of budget, money managers say

 British money managers are reporting a jump in people withdrawing cash from their pensions before this month's budget, amid fears for their tax advantages as the government warns it needs to make "hard choices" to prop up public finances. Most British savers can receive up to 25% of their pension as a tax-free lump sum. Some experts on fiscal policy have speculated that Rachel Reeves, the finance minister, might reduce the amount that can be withdrawn tax-free, a potential motive for savers to withdraw...

November 6, 2025
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06Nov

Japan’s welfare crackdown targets foreign residents over unpaid pensions, health insurance

As Japan’s social contract comes under strain, Sanae Takaichi is moving swiftly on a campaign promise to make foreign residents shoulder their fair share of the health and pensions burden. The proposed reforms, set in motion just weeks after Takaichi’s historic appointment as the country’s first female prime minister, aim to address mounting public concern about inequality and the sustainability of its ageing welfare state. At her first ministerial meeting dedicated to issues regarding foreign nationals, Takaichi on Tuesday directed cabinet...

November 6, 2025
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05Nov

Boom of Private Markets in Latin America: What Trends Are We Seeing?

“Latin America’s Private Markets—Particularly in Private Equity, Venture Capital, and Infrastructure—Are Entering a New Phase of Maturity. According to a report by J.P. Morgan Private Bank, Latin America is no longer seen merely as a source of isolated opportunities but as a structurally relevant market. Although capital flows have decreased compared to the peaks of 2021, the resilience of funds and institutional consolidation are strengthening the foundation of the investment ecosystem. The pandemic was a transformative catalyst. During those years,...

November 5, 2025
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05Nov

U.S. pension giants exposed to risky assets: Fitch

U.S. defined benefit (DB) pension plans are increasingly exposed to private credit and other risky alternative assets that could lead to funding troubles that ultimately strain government finances too, says Fitch Ratings. In a report issued Monday, the rating agency said that in the wake of the global financial crisis, sponsors of public DB pensions took a variety of steps to improve the their plans’ solvency, such as increasing contribution rates, reducing benefits to new employees and adopting more conservative...

November 5, 2025
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05Nov

UK. Almost two thirds of mid-retirees have not had essential conversations about finances

Research by Aviva, a leading pension provider, and Age UK, the UK’s expert voice on ageing, has found that mid-retirees are navigating retirement without the financial support or guidance they may need as they get older. The report by Aviva and Age UK (published May 2025), Retirement Reality: Managing Money in Mid-Retirement, highlights the challenges faced by mid-retirees navigating the retirement landscape. The research surveyed 1,000 mid-retirees (aged 65-75) who have a private pension, are on a moderate retirement...

November 5, 2025
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