Slider Archives - Page 202 of 454 - Pension Policy International

16MarMarch 16, 2020

Coronavirus pushes big Dutch funds back toward pension cuts

The fall in interest rates caused by the global coronavirus outbreak has pushed the Dutch pension fund system back into crisis, with the largest fund, ABP, warning on Monday it would have to cut pensions in 2021 at current solvency levels. ABP, which holds 459 billion euros ($513 billion) in assets for civil servants, said its coverage ratio of assets to liabilities slid to 88.7% in February from 94.1% in January. Read also Dutch pension funds receive billions as additional collateral Lower...

March 16, 2020

News, SliderEurope, Netherlands

13MarMarch 13, 2020

Inquiry Alleges ‘Substantial Impropriety’ at South Africa’s Public Investment Corp.

A judicial inquiry in South Africa recommended sweeping changes to laws governing Africa’s biggest fund manager after it found senior management, including former Chief Executive Officer Dan Matjila, flouted internal procedures. The investigation, led by retired Judge Lex Mpati, concluded there had been “substantial impropriety” at the state-owned Public Investment Corp., which manages 2.13 trilllion rand ($130 billion) of state-employee pension funds. It found that the board had acted as a “rubber stamp” for Matjila, who failed to disclose...

March 13, 2020

News, Slider2020, Africa, Pension Management, Regulation, South Africa

13MarMarch 13, 2020

Coronavirus: FTSE 100, Dow, S&P 500 in worst day since 1987

The main UK index dropped more than 10% in its worst day since 1987. In the US, the Dow and S&P 500 were also hit by their steepest daily falls since 1987. The declines came despite actions by the Federal Reserve and European Central Bank to ease financial strains. At the start of US trading, plummeting shares triggered an unusual automatic suspension in trading for the second time this week. When trade resumed 15 minutes later, shares continued to...

March 13, 2020

News, SliderInvestment, Pension Management

13MarMarch 13, 2020

Japan’s GPIF, World’s Largest Pension Fund, Joins U.S., U.K. Funds to Adopt Sustainability Practices

Pension funds representing about $2 trillion in assets under management are committing to sustainability investing The move brings some of the world’s largest asset owners into the ESG movement, joining fund managers, companies and governments Pension funds’ ESG commitment highlights focus on the long term even during the current market meltdown due to coronavirus Three of the world’s largest pension funds are taking a $2 trillion stand in favor of sustainability investing. Read also Climate risk body launches...

March 13, 2020

News, Slider2020, Pension Management, Sustainability

13MarMarch 13, 2020

Climate risk body launches consultation for pension schemes

The UK-based Pensions Climate Risk Industry Group (PCRIG) has launched a public consultation on non-statutory guidance for the trustees of occupational pension schemes on assessing, managing and reporting climate-related risks. PCRIG was set up last summer by the UK’s Department of Work and Pensions and other government departments to develop industry-wide guidance for pension scheme trustees on climate-related risks and voluntary alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). European investors “not yet pricing...

March 13, 2020

News, Slider2020, Climate crisis, ESG, Europe

13MarMarch 13, 2020

Swedish Pensions Agency sees need for new pension savings scheme

The Swedish Pensions Agency (Pensionsmyndigheten) says it sees a need for a new type of private pension savings scheme, as some sections of the population should be putting more money away for retirement. In a report investigating this proposal, the authority said while the financial need for increased savings seemed to be low for most people in Sweden, there were nevertheless groups that needed to save more for their pensions. The agency said in a statement: “A private pension savings...

March 13, 2020

News, Slider2020, Europe, Pension design, Sweden

12MarMarch 12, 2020

Australia. Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces

The Federal Government has announced a $17.6 billion economic stimulus package in a bid to keep Australians in jobs as the economy takes a hit from the spread of coronavirus. Prime Minister Scott Morrison said the package would provide an immediate stimulus to the economy amid fears Australia could slip into a recession. The package includes tax relief for small businesses, one-off cash payments for welfare recipients and money to help keep apprentices in work. More than 6 million welfare...

March 12, 2020

News, Slider2020, Australia, Political economy, Social Protection

12MarMarch 12, 2020

Dutch pension funds stick to rebalancing policy

Dutch pension funds and their asset managers are sticking to their rebalancing policies within their strategic asset allocations, despite market volatility and falling interest rates. Many schemes will buy additional shares if equity markets remain at the current low level, several asset managers and pension providers have said. However, pension providers are keeping their cards close to their chest as they try to keep other market players in the dark about their intentions. “Making statements could unnecessarily inform the...

March 12, 2020

News, SliderCoronavirus, COVID-19, Europe, Investment, Netherlands, Pension Management

12MarMarch 12, 2020

UK. Coronavirus grants pensions Budget immunity

Doctors are the people you need on your side in a time of crisis — as Wednesday’s Budget, overshadowed by the spread of the coronavirus, proved. The temporary sticking plaster Rishi Sunak provided to patch the NHS pensions taper tax crisis turned out to be much bigger than expected — a £2.2bn giveaway that will benefit the pensions contributions of all workers in the public and private sector earning up to £200,000 per year. From April, they can...

March 12, 2020

News, Slider, Uncategorized2020, Europe, Taxation, UK

12MarMarch 12, 2020

Moneybox launches Personal Pension after 100,000 sign up for waiting list

Moneybox today launches its Personal Pension, helping customers to consolidate their old pension pots and take control of their financial future From today the Pension will be available to all new and existing customers, and built into the sign-up process A staggering 100,000 people have signed up to the Moneybox pensions waiting list since it opened in April 2019, demonstrating a real appetite for change in the industry The launch follows a successful beta trial with existing...

March 12, 2020

News, Slider2020, Fintech, UK

March 2020