February 2022
21Feb

UK. More universities join strike action over pay and pensions

Strike action at UK universities has spread to 68 institutions as staff blamed bosses for failing to make improved offers on pensions, pay and working conditions. The University and College Union said today (February 21) more than 50,000 staff have a mandate to strike and over a million students are being impacted. Strikes initially began at 44 universities last week (February 14) and a further 24 have joined today. The union, which represents all university staff, said new retail price index figures...

February 21, 2022
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21Feb

From human rights to recycling bins: how can you define ‘ethical investing’?

Companies are facing increasing consumer and shareholder pressure to ensure the investments they make are ethical. But how do they define what’s ethical? Broadly, ethical investment is on the rise. According to the Responsible Investment Association Australasia (RIAA), about $1tn of the $2.24tn in managed funds is classified as responsible. That’s not just because Australians are becoming more aware of the impact their investments can have, but also because responsible or ethical investment is really starting to pay. Sustainable, environmentally...

February 21, 2022
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21Feb

UK. Royal Mail moves ahead with CDC scheme

Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members. Royal Mail launched its consultation in September 2021, in which it laid out plans for the new Royal Mail Collective Pension Plan. Under a CDC arrangement, members pool investment and longevity risk and contribution rates for employers and employees are set in advance. The group finalised and confirmed...

February 21, 2022
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18Feb

39% of Canadians are confident in their retirement plan: survey

Almost two in five (39 per cent) Canadians are confident in their retirement plan, according to a survey conducted by Pollara Strategic Insights for the Bank of Montreal Financial Group. The survey, which polled 1,500 adult Canadians, found while respondents said they need $1.6 million to retire securely, just under half (44 per cent) were confident they’ll have enough money saved to retire as planned. Indeed, 42 per cent of respondents who are widowed, divorced or separated said they don’t...

February 18, 2022
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18Feb

Protests grow in Puerto Rico amid demands for higher wages

Four men walked to the parking lot before dawn, then sat down blocking the entrance and linked their arms to await the arrival of hundreds of federal and state employees for the work day. Protesting years without pay raises, the four employees of Puerto Rico’s Authority of Roads and Transportation refused to budge. A specialized police unit finally moved in to remove them, and as they were put in handcuffs, one of the men yelled: “Fair salary! Give us what...

February 18, 2022
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18Feb

Kenya’s pension industry eyes partnership with Chinese firms to spur investment returns

Kenya's pension industry said Thursday it plans to partner with Chinese firms in order to boost returns on investments. Sundeep Raichura, chairman of Kenya Pension Fund Investment Consortium (KEPFIC), told Xinhua in Nairobi, the Kenyan capital, that they are keen to collaborate with foreign firms that have the expertise to undertake viable infrastructure projects such as roads, rail and energy plants. Read also Ghana. GH¢10bn private pensions funds available for investment in GSE securities – Deputy MD "As the Kenyan pension industry,...

February 18, 2022
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18Feb

Japan. World’s Top Pension Fund GPIF to Reassess Stock-Lending Halt

Japan’s Government Pension Investment Fund is set to review the impact of its decision more than two years ago to stop lending shares, and intends to put the controversial move up for debate. The world’s biggest pension fund, which manages nearly 200 trillion yen ($1.7 trillion) in assets, should have enough data to determine what impact the move has had on its investments, GPIF President Masataka Miyazono told Bloomberg News in an interview in Tokyo on Wednesday. Read more @Bloomberg 716 views

February 18, 2022
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18Feb

Italy makes another attempt at pension reform as debt worries mount

Italy is working on a reform to make it easier for workers to retire early without bloating Europe’s second-highest pensions bill as rising borrowing costs fuel concern about the country’s huge public debt. Officials said that Mario Draghi’s government wants to inject more flexibility into the system while avoiding the fate of the unpopular 2011 reform that  raised the retirement age steeply but was suspended in 2018 after a backlash. Read also French Prime Minister Castex: pensions to be adjusted to...

February 18, 2022
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17Feb

UK. Pension chiefs encourage company stakeholder engagement

A group of pension executives has challenged companies to engage with their stakeholders and intensify their efforts to reach net zero emissions. The statement came in a letter to the Financial Times, signed by leaders from across the defined benefit and defined contribution spaces, Local Government Pension Scheme funds and private plans who are collectively responsible for more than £675bn in assets. Brunel Pension Partnership’s chief responsible investment officer Faith Ward, Nest’s chief executive Helen Dean and BT Pension Scheme Management’s...

February 17, 2022
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17Feb

Nigeria: LASG Pays Over N1 Billion to 222 Retirees’ RSA, Promises to Clear Backlog of Pensions

The Director-General of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana has said that the Lagos State Government has paid the sum of N1.04 billion to its retired workers. Obinala, who disclosed this at the 91st Batch Retirement Bond Certificate presentation Ceremony held in Lagos revealed that the state has cleared its pension contributions of 2018 - 2020 retirees under the contributory pension scheme. He assured the retirees that their contributions have been paid into their RSA. According to him, "despite the...

February 17, 2022
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