November 2021
22Nov

Aging China outlines plan to improve elderly care services

China is urging some local governments to embark on pilot programmes next year to improve medical and care services for the elderly, with the goal of rolling out the scheme nationwide in 2023. Read also India’s fertility rate falls below replacement level. What it means. Of the 31 provinces, regions and municipalities in mainland China, 15 should launch their local pilot schemes for better medical and care services for the elderly next year, the National Health Commission (NHC) said in a...

November 22, 2021
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22Nov

Pension funds can steer next level growth and development in Nigeria

In retrospect, it is widely attested that an active pension ecosystem effectively congregating players – a regulator, administrators, custodians, public and private sector employers and working-class persons across several age groups – is well established in Nigeria. The maturity of this industry relative to more advanced economies of the world like the US or the Organisation for Economic Co-operation and Development nonetheless, the pension industry globally has displayed great resilience, navigating the turbulence and whirlwinds: macroeconomic shocks, economic downturns,...

November 22, 2021
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22Nov

Move to hinterland triggers brain drain at Korea’s mega pension fund

Earlier this year, Lee left her fund management job at South Korea's national pension fund, the world's third-largest, fed up with long commutes between her home in Seoul and her office in Jeonju, 200 kilometers away. For four years, Lee lived in a studio apartment in Jeonju, a city of 658,000, on weekdays, and traveled back to Seoul for the weekend. She feared her family would break up if she didn't make the hard decision to quit. Lee is one of...

November 22, 2021
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22Nov

Kenya. Safaricom lifts pension earnings to four-year high

Pensioners have enjoyed the highest returns from investments in four years helped by the big gains on the shares of Safaricom and large banks, which make up the bulk of the pension industry equities investments. Pension funds surveyed by fund administrator Zamara and Actuarial Services East Africa (Actserv) show a return of 15.1 percent on investments for the one year to September 2021, the highest since they reported a 15.5 percent return in 2017. Read also Ghana. Parliament asked to address...

November 22, 2021
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19Nov

South Africa. Government pension fund freezes R70 billion mandate with PIC

The Government Employees Pension Fund, Africa’s biggest pension fund, said it may take as long as a year to negotiate a new mandate with Public Investment Corporation that will allow it to enter into new unlisted investment deals. The PIC oversees a R70 billion unlisted investment fund for the GEPF, but its mandate lapsed in March, said Musa Mabesa, the GEPF’s principal chief executive. While deals initiated before it ended can be completed, new ones can’t be concluded, he said. The...

November 19, 2021
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19Nov

What happened at COP26 and what does it mean for pension scheme investments?

What happened at COP26 and what does it mean for pension scheme investments? COP26 drew to a close on Saturday 13th November, a day later than scheduled, as delegates from 197 countries pushed to finalise a deal which aims to limit global warming and accelerate the shift of the world's economies to a greener future. But what is in the deal, known as the 'Glasgow Climate Pact', and what does it mean for pension schemes? Read also One-third of UK pension schemes...

November 19, 2021
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19Nov

US. For a workforce in flux, retirement plans and benefit options may be increasingly important

The tight labor market shows no signs of easing in the coming year, likely making benefits and retirement plan options an important part of employee recruitment and retention. “This open enrollment season is an important time for employers to get the pulse of their workforce and staffing needs as they face another year of competition for talent,” said Sri Reddy, senior vice president of retirement and income solutions for Principal Financial Group. Principal asked retirement plan participants and plan sponsors about...

November 19, 2021
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18Nov

Mexico. Pensions will consume 16.5% of the federal budget next year

About one-sixth of the 2022 federal budget will be used to pay pensions as a record 1.17 trillion pesos (US $56.6 billion) will end up in the pockets of retired workers next year. According to the 7-trillion-peso (US $338.8 billion) budget approved in the lower house of Congress last Sunday, the outlay on pensions will increase 6.2% in 2022 and represent 16.5% of the total budget. Read also UK. Could CDC solve the USS crisis? The 1.17 trillion pesos will go to...

November 18, 2021
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18Nov

One-third of UK pension schemes to set climate risk targets

A third of UK pension schemes have set, or are in the process of setting, targets to reduce their exposure to climate-related risks, but a similar proportion do not plan on doing so themselves. That is according to a new report from the Association of Consulting Actuaries (ACA), which has identified an emerging division in pension scheme attitudes to climate risk. Although 33% were at least in the process of setting climate risk targets as of July this year, 28% said...

November 18, 2021
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18Nov

US’s shot at a sustainable future

By John D. Vincent The Infrastructure Investment and Jobs Act recently passed by Congress and signed into law by President Joe Biden on Nov. 15 will help to fuel America's economy for the next decade, driving sustainable and innovative growth across multiple regions and sectors. It is less ambitious and more focused than first envisioned but, under the bipartisan deal, the IIJA will invest approximately $1 trillion in revitalizing America's transportation, energy infrastructure, clean water infrastructure and broadband, among other priorities....

November 18, 2021
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