News Archives - Page 938 of 950 - Pension Policy International

29MarMarch 29, 2017

Norwegian Pension Fund Boycotts Dakota Access Pipeline Companies

Kommunal Landspensjonskasse (KLP), a $70.5 billion Norwegian pension fund, is divesting a combined $68.4 million from Phillips 66, Enbridge, Marathon Petroleum, and Energy Transfer Partners, calling the companies’ involvement with the Dakota Access Pipeline (DAPL) “an unacceptable risk of contributing to serious or systematic human rights violations.” The nearly 1,200-mile long pipeline was built to transport oil through North Dakota, South Dakota, Iowa, and Illinois. It has drawn heavy opposition over a potential risk of water contamination at the Lake...

March 29, 2017

NewsNorway

28MarMarch 28, 2017

India’s largest mobile phone company sells 10.3% of tower unit to KKR-Canada Pension Plan combine

India's Bharti Airtel has sold a 10.3% stake in its tower unit to a consortium for 61.94 billion rupees ($952 million) as the country's largest mobile phone company seeks to trim its staggering debt. The consortium, backed by private equity firm KKR & Co. and Canada Pension Plan Investment Board, paid 325 rupees per Bharti Infratel share, a 4% premium to Monday's closing price, Bharti Airtel said in a statement to the Indian stock exchanges Tuesday. Bharti Airtel, which will hold...

March 28, 2017

NewsIndia

28MarMarch 28, 2017

Invest Africa’s Pension Funds In Infrastructure, NEPAD Advocates in Nigeria

Mr Ibrahim Mayaki, Chief Executive Officer, NEPAD Planning and Coordinating Agency, has tasked African governments to commit to a roadmap that will allow pension funds to invest in infrastructure. A statement in Abuja by the communications section of the Economic Commission for Africa (ECA) disclosed this on Monday at the venue of the ongoing African Development Week which began on Thursday in Dakar, Senegal. The meeting was organized by ECA and the United Nations Economic and Social Council (ECOSOC), the statement...

March 28, 2017

NewsAfrica, Nigeria

28MarMarch 28, 2017

US. Plan sponsors increasingly interested in pension risk transfer

In the United States, 80 per cent of employers sponsoring traditional defined benefit pension plans are interested in pension risk transfer, according to new research from LIMRA Secure Retirement Institute. LIMRA says that in the last few years a shift has occurred in the level of interest in pension risk transfer (PRT). While eight in 10 plan sponsors expressed interest in PRT, four in 10 said they are “very interested”. This is an increase of ten per cent from a...

March 28, 2017

NewsUS

27MarMarch 27, 2017

Barbados. OPBA will provide Retirement Savings Statements

THE OCCUPATIONAL PENSION BENEFIT, OPBA, has made provision for pension plan members to be regularly informed of the status of their accumulating pension benefit. In addition, it has made provision for relatively early vesting of pension benefits and for greater portability of pension funds. Every year, the administrator of the pension plan must provide a written statement to each plan member setting out the specifics of the contributions made to the plan by the employee, if any, and by the...

March 27, 2017

NewsBarbados

27MarMarch 27, 2017

US. Retirement Planning: Boomers Navigate Impact of Financial Crisis

According to a new study, only two percent of middle-income Baby Boomers feel the economy has fully recovered from the financial crisis that began in 2007. The survey, “10 Years After the Crisis: Middle-Income Boomers Rebounding But Not Recovered,” by Bankers Life Center for a Secure Retirement, finds that Boomers' lack of trust in institutions has led to permanent financial impairment. “[Before the Great Recession] Boomers had a clear vision of what a personally satisfying retirement looked like,” said Scott Goldberg,...

March 27, 2017

NewsUS

27MarMarch 27, 2017

Thailand Government Pension Fund to Form Asset Management Unit

The Finance Ministry plans amending legislation to allow the Government Pension Fund (GPF) to form an asset management company to increase returns for members. Somchai Sujjapongse, permanent secretary for finance, aired the idea at the ministry on the 20th anniversary of the fund, which amounted to 758 billion baht in October last year. "The finance minister agrees with the plan... We are of the view the GPF is ready in terms of personnel who are able to manage investment in funds,"...

March 27, 2017

NewsThailand

27MarMarch 27, 2017

Chile pensions protest draws tens of thousands

Tens of thousands of people in Chile have taken part in demonstrations against the country's controversial privatised pension system. Demonstrators called on the socialist government of Michelle Bachelet to scrap the the system, which is managed by private funds. Critics say the system benefits the rich but leaves poorer Chileans with a pension below the minimum wage. The system was introduced in 1981 under General Augusto Pinochet's rule. Protest organisers said a total of more than 2 million people had joined marches in...

March 27, 2017

NewsChile

24MarMarch 24, 2017

US. Another Casualty of Bad Retirement Planning: Worker Productivity

EBRI released its 2017 Retirement Confidence Survey on Tuesday, finding once again that Americans who have a retirement plan are more likely to be confident about their retirement outcomes. Their confidence is well-earned. Workers in a retirement plan are 10 times as likely to be saving for retirement as those who don’t have a retirement plan of some kind. Full Content: Think Advisor

March 24, 2017

NewsUS

24MarMarch 24, 2017

Former director of CBI: UK state pension age should hit 68 seven years earlier than planned

John Cridland’s report, which will frame government policy on the state pension, has said state pension age (SPA) increases should be accelerated and should rise from 67 to 68 between 2037 and 2039. Last year the government commissioned Cridland, former director general of the Confederation of British Industry, to review the SPA, looking at the financial sustainability of the system, the issues that drive SPA rises and life expectancy. Under current legislation, from December 2018, the SPA for men and women...

March 24, 2017

NewsUK

March 2017