Slider Archives - Page 228 of 454 - Pension Policy International

12DecDecember 12, 2019

UK Pension Risk Transfer Market to Quadruple in Decade

The UK’s bulk annuity market is forecast to quadruple over the next decade, driven mainly by lower pricing as more pension plans mature and additional reinsurers enter the UK market, according to consulting firm Mercer. By the end of 2019, Mercer said it expects the bulk annuity market in Great Britain to exceed £40 billion ($52.6 billion), with the total UK risk transfer market, including longevity swaps, forecast to reach £50 billion. Mercer said it has also...

December 12, 2019

News, Slider2019, Investment, Risk, UK

12DecDecember 12, 2019

Puerto Rico government launches defined contribution program for 110,000 employees

The government of Puerto Rico announced Tuesday the launching this month of a new defined contribution savings plan for 110,000 public employees, who will be allowed to determine how their pretax contributions will be invested for their retirement. The new retirement plan, similar to a 401(k) program, will include government employees covered by Act 106 of 2017, the Act to Guarantee Payments to Our Pensioners and Establish a New Defined Benefit Plan for Public Servants. Starting Dec. 19, these...

December 12, 2019

News, SliderDC Pensions, Pension design, Puerto Rico

12DecDecember 12, 2019

Armenia. Parliament adopts voluntary early retirement plan for most incumbent Justices

By Stepan Kocharyan Parliament passed the early retirement plan for Constitutional Court judges with 75 votes in favor and 34 against. The opposition had earlier said it will vote down the government-backed bill envisaging voluntary early retirement mechanisms for most of the incumbent Constitutional Court Justices. Minister of Justice Rustam Badasyan told lawmakers in parliament that certain technical amendments were made in the bill after the first reading. According to Badasyan, the bill has been approved by the Venice...

December 12, 2019

News, OP Ed, Slider2019, Armenia, Regulation

12DecDecember 12, 2019

US. New e-delivery rules for ERISA pension plans on the Horizon

By McBrayer McGinnis Leslie & Kirkland PLLC In October, the U.S. Department of Labor (DOL) published a proposed rule that encourages electronic delivery of ERISA-required plan disclosures. It allows plan administrators to post disclosures online to cut costs of paper delivery and is a voluntary safe harbor that plans can use to make documents accessible on a website instead of mailing paper documents. Adopting a so-called “notice and access” e-delivery structure, the DOL allows plans to save paper by emailing disclosures....

December 12, 2019

News, OP Ed, Slider2019, Pension design, Taxation, US

11DecDecember 11, 2019

Worst Australian Pension Funds Warned to Improve or Shut Down

Australia’s prudential regulator has vowed to weed out under-performing pension funds after publishing its first ranking of firms, including those it fears don’t have a sustainable business model. The inaugural heatmap assessment of default investment plans found 15 had issues with net cash flow or growth that jeopardized their future survival, the Australian Prudential Regulation Authority said Tuesday. Some 28 funds were found to be charging excessive fees, and nine had net returns significantly below a reference portfolio of...

December 11, 2019

News, Slider2019, Australia

11DecDecember 11, 2019

Danish Pension Assets Swell to $680 Billion as Funds Add Risk

Denmark’s pension industry has grown to more than double the country’s gross domestic product after adding about $100 billion this year alone. “The first nine months of 2019 saw considerable growth in the companies’ balance sheets as a result of substantial returns on pension wealth,” the central bank said on Tuesday. That followed a substantial increase in holdings of asset classes outside the traditional bond and stock allocations. Pension funds have been shifting their allocation to alternative assets as...

December 11, 2019

News, Slider2019, Denmark, Investment, Risk

11DecDecember 11, 2019

French PM warns of long pensions standoff in face of new protests

French Prime Minister Edouard Philippe warned ruling party lawmakers Tuesday (Dec 10) to brace for a long battle over the government's pension reforms, as tens of thousands took to the streets to back a transport strike that has caused six days of travel misery. The industrial action, which has paralysed public transport in Paris and severely disrupted national rail services, is the biggest show of union force since President Emmanuel Macron came to power in 2017 vowing to cut...

December 11, 2019

News, Slider2019, France, Pension Reform

11DecDecember 11, 2019

UK. The new pensions levy is deeply unfair

By Gregg Mcclymont Most of us spent our childhoods being conditioned to the reality that life is not fair. However, that does not make it any easier to digest when confronted with a situation that requires us to make our disquiet known. Plenty within the industry are allowing their voices to be heard in regards to the current situation surrounding the General Levy – the mechanism through which the Department for Work and Pensions extracts funding for The Pensions Regulator (TPR), the...

December 11, 2019

News, OP Ed, Slider2019, Regulation, UK

10DecDecember 10, 2019

Latin American AuM will more than double by 2025: PwC report

Despite a number of Latin American countries facing political and economic uncertainty, the long term growth prospects for the asset and wealth management industry remain strong across the continent according to a report published today by PwC and Sura Investment Management. The report, titled Asset and Wealth Management Revolution: Latin America's flourishing opportunities, finds that, despite the challenges faced by the region, assets have grown by 7.9% compounded annual growth rate (CAGR) since 2015 to reach $2.4trn in 2018....

December 10, 2019

News, Slider2019, Investment, Latin America

10DecDecember 10, 2019

Nigeria. 36 states given 7 days to disclose pension payments to ex governors.

Nigeria’s Scio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information Act request to the Chairman and Deputy Chairman of the Governors’ Forum, Ekiti state governor Dr Kayode Fayemi and Sokoto state governor Aminu Tambuwal, and other 34 governors urging them to use their “leadership position to urgently disclose details of payment of pensions to former governors and other ex-officials between 1999 and 2019 under your state’s pension law, and to provide a copy of the said...

December 10, 2019

News, Slider2019, Nigeria

December 2019