March 2022
23Mar

How society aging threatens climate action

People 60 and older are responsible for a large and increasing share of greenhouse gas emissions in wealthy countries, according to a new study. This is due not just to the increasing numbers of people in this age group but to their lifestyles as well, hinting that aging populations may pose a challenge to climate action. Longer lifespans and declining birth rates in wealthy countries mean their populations are getting older. The share of the population aged 65 and older...

March 23, 2022
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SEC proposes climate-related disclosures for public companies
22Mar

US. SEC proposes climate-related disclosures for public companies

The Securities and Exchange Commission on Monday proposed rule amendments to require public companies to disclose climate-related risks and greenhouse gas emissions. The commission approved the rule amendments in a 3-1 vote, with its lone Republican, Hester M. Peirce, dissenting. Under the proposal, public companies would be required to disclose a host of climate-related information in their registration statements and periodic reports, including: The oversight and governance of climate-related risks by the registrant's board and management. How any climate-related risks identified...

March 22, 2022
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Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT
22Mar

Ghana. 10 Million workers in the informal sector not covered by social security- SSNIT

The management of the Social Security and National Insurance Trust (SSNIT) has met with stakeholders to find ways to expand and deepen the coverage of the basic national social security scheme for the self-employed. Read also President Sisi approves 13% increase in pensions: Egypt’s PM This is because 10 million informal workers in the country are not covered by any social security. During a speech at the event, the Minister of Employment and Labor, Ignatius Baffour Awuah, praised the SSNIT leadership for...

March 22, 2022
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UK. Pension schemes to tackle deforestation in climate push
22Mar

UK. Pension schemes to tackle deforestation in climate push

Pension schemes in the UK will be expected to do more to tackle deforestation as part of the government’s climate policies, pensions minister Guy Opperman has warned. Writing in Responsible Investor with Lord Goldsmith, minister for the Pacific and the international environment, Opperman said that because “forests and land use are a significant source of carbon emissions”, any action on climate change “will need to take deforestation into account”. “During our COP26 presidency, we are putting forests front and centre of...

March 22, 2022
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President Sisi approves 13% increase in pensions: Egypt’s PM
22Mar

President Sisi approves 13% increase in pensions: Egypt’s PM

President Abdel Fattah El-Sisi approved a 13-percent increase in pensions, said Egyptian Prime Minister Moustafa Madbouli in a press conference on Monday, adding that the increase would be applied next April rather than July, at an additional cost of LE 8 billion. The conference was held after a number of decisions taken by the Central Bank of Egypt regarding the rates of interest and exchange to mitigate the global economic repercussions of the ongoing Ukraine-Russia military escalation. The Prime Minister said...

March 22, 2022
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New European pensions saving regime takes effect this week
21Mar

New European pensions saving regime takes effect this week

EU legislation which gives effect to a new European pensions savings regime is being introduced this week The Pan-European Personal Pension (PEPP) is a voluntary retirement savings option for EU citizens that complements existing pension schemes. It allows people to pay into the same scheme throughout the EU, even if they move countries. Read also China: National Pension Insurance Co receives green light to start operations Rachel McGovern, director of financial services at Brokers Ireland, which represents 1,225 brokers, says pension providers...

March 21, 2022
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21Mar

UK. ‘Pensioner poverty’ alarm as older people raid pension pots

Older people face the prospect of “pensioner poverty” due to the rising cost of living and the falling value of the stock market, it has been claimed. Figures from online investment platform Interactive Investor show its customers withdrew a quarter more from their private pensions in January as the cost of energy, food and petrol went up. The figures have prompted concern that pensioners will not have enough money to see them through retirement. In January, the average withdrawal from an Interactive...

March 21, 2022
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21Mar

US. How to Improve Retirement Readiness in Under-represented Groups

For plan sponsors wondering what they can do to help diverse workers increase their retirement savings, a new paper outlines plan features and strategies that can help bolster savings for underserved workers. In Improving Retirement Readiness for Underrepresented Groups, Alight explains that employers have benefited from a diverse population of employees, as these individuals brought unique perspectives to the workplace. These employees have also brought a wide range of retirement savings behaviors that have not necessarily led to positive outcomes,...

March 21, 2022
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21Mar

Asia’s immense opportunities for impact investing

Investors have always known their business decisions have a social and environmental impact, but there was not enough evidence to measure it. It was more like a fringe benefit. But with increased awareness, more empirical evidence, shifting brand perceptions and the explosive emergence of social media, more investors, big and small, are paying attention to environmental, social and governance (ESG) risks and investing with the intent to make an impact. In Asia, exciting developments in the impact investing market are opening...

March 21, 2022
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UK. Pension dashboards are coming - action for occupational pension schemes to take now
18Mar

UK. Pension dashboards are coming – action for occupational pension schemes to take now

Establishing a system of “pension dashboards” to enable individuals who have yet to take retirement benefits to find clear, standardised information about all their pension arrangements (including rights to state pension) in one place is a key element of the government’s pension strategy. The ambition is laudable but achieving it will be a mammoth task, requiring significant time and resource from occupational pension scheme trustees, pension managers and administrators. All UK occupational pension schemes with 100 or more non-pensioner members...

March 18, 2022
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