December 2024

Kenya. Jua kali workers to receive formal certification under proposed law

Kenyan artisans working in the informal sector, popularly known as jua kali, could soon receive formal recognition for their skills, following a proposed law which seeks to establish a structured system for assessing and certifying their expertise. If passed, the Bill would make it mandatory for the National Industrial Training Authority (NITA) to create a system for assessing individuals who have acquired skills through non-formal, informal, or experiential learning methods. Kisumu Central MP Joshua Oron introduced the Bill known as the...

Latin America Lags in Establishing Sovereign Funds, Report Finds

A recent report from the International Forum of Sovereign Wealth Funds investigated why Latin America lags behind other emerging markets in developing sovereign wealth funds beyond stabilization funds. “It is striking that, in Latin America today, there are 12 sovereign wealth funds, nearly all of which are traditional stabilization funds,” the report stated. Unlike most sovereign wealth funds, stabilization funds can be drawn on by governments to reduce the impact of volatile revenue on the economy. Because the assets in the funds might...

UK. Pension issues for 2025

Commenting on what is top of his Christmas pension wish list and the year ahead, Paul Waters, Head of DC Markets, Hymans Robertson, says: “Top of my wish list for 2025 is that stage two of the Government’s Pensions Review will deliver a coherent long-term plan for addressing UK retirement savings adequacy. Ideally, this will include future state pension provision and will work for all members of society. Collective DC will feature prominently in 2025 and we are optimistic about...

Argentina. Pensioners the big losers in Milei’s world

 Alicia Ceresoli yearns for the smell of new leather shoes and her mouth waters when she imagines sinking her teeth into a succulent steak, two indulgences the 80-year-old Argentine can no longer afford. Pensioners have taken the most pain in a year of budget-slashing by maverick "anarcho-capitalist" President Javier Milei, whose austerity measures have tipped an additional five million people into poverty since he took power last year. In September he vetoed a law that increased pensions by eight percent --...

Czech Republic. Senate Approves Pension Reform Raising Retirement Age To 67

The Senate yesterday evening approved without changes a government pension reform that, among other things, raises the retirement age by two years to 67. The law was passed as expected, despite objections from the opposition and trade unions. Among the most controversial passages of the pension amendment is the coalition’s restriction on the number of workers in risky professions who should be entitled to an early pension without reduction. The reform will now be submitted for consideration by President Petr...

December 2022

OECD Pensions Outlook 2022

The OECD Pensions Outlook discusses how to introduce, develop and strengthen asset-backed pension arrangements, the role that employers can play in their provision, and the implication of different fee structures on individuals saving for retirement and on providers. The 2022 edition focuses on describing best practices for developing mortality tables and providing policy guidance on how to design, implement and continue the operation of non-guaranteed lifetime retirement income arrangements. Get the report here

February 2022

Danish pension scheme halts Russian investments

Danish pension fund AkademikerPension will immediately halt new investments in Russian assets after President Vladimir Putin recognised Donetsk and Luhansk in eastern Ukraine as independent, it said on Tuesday. The $23 billion fund said it would stop new investments in Russian government bonds and companies where the Russian state owns stakes of more than 50%. "Putin's formal recognition of the two separatist republics is a violation of Ukraine's sovereignty, which is a violation of international law. And it is also a...

UK. Parliament pension fund makes ESG investments

The scheme’s annual report revealed that the fund is integrating environmental, social and governance issues throughout its investment process, while making a number of commitments to ESG-aligned mandates throughout the year to March 2021. Read also UK. DWP confirms GMP revaluation rate reduction First, the scheme invested in the BlackRock Global Renewable Power Infrastructure Fund III, making its first contribution in August 2020, with further capital calls made later in the year. Read also From human rights to recycling bins: how can...

Canada’s largest pension fund CPPIB takes engagement approach to net-zero

The Canada Pension Plan Investment Board, better known as CPP Investments or CPPIB, announced net-zero greenhouse gas (GHG) emission goals by 2050 through a decarbonisation approach focused on influencing transition within high-emitting sectors as opposed to divestment. Read also US. Pension plans increasing their focus on allocating to diverse asset managers The plan also includes increasing its investments into green and transition assets from $67 billion to $130 billion by 2030 and a carbon neutrality goal by the end of the...

How will the EU’s SFDR sustainability rules work?

Europe’s action plan on sustainable finance will accelerate the mobilisation of green finance and reinforce EU leadership in this area by being an example for regulators across the world that are looking at a standardised approach. Despite the challenges, the goal is to build a greener, more sustainable future, but it cannot be done without the weight of financial market participants being fully committed. Today, country and corporate carbon reduction plans are still far short of the 1.5C target under the...