Slider Archives - Page 339 of 454 - Pension Policy International

09NovNovember 9, 2018

East Africa to harmonize pension regimes to promote labor mobility

East African Community (EAC) member states plan to harmonize their pension regimes in order to promote labor mobility, officials said on Thursday. Nzomo Mutuku, chief executive officer of Kenya's Retirement Benefits Authority (RBA), told Xinhua in Nairobi that currently the six member states of the EAC have different taxation levels for the pensions industry and therefore workers could lose benefits if they move from one partner state to another. "All the partner states are committed to have the same pension standards...

November 9, 2018

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09NovNovember 9, 2018

BNY Mellon earns global custody renewal from £28 billion UK pension fund

BNY Mellon has been re-appointed as the global custodian for RPMI Railpen, one of the UK’s largest pension schemes. The mandate, which includes core custody, securities lending, FX and cash management, renews a 22-year relationship with Railpen, the £28 billion investment manager of the industry-wide pension scheme for UK railway companies. BNY Mellon will also continue to support Railpen’s data management and investment accounting process through Eagle Investment Systems. “A robust operating model is essential to ensuring that Railpen continues to meet...

November 9, 2018

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09NovNovember 9, 2018

US. Wells Fargo considering sale of retirement-plan unit

is considering the sale of its retirement-plan services business, according to people familiar with the matter. The unit could fetch as much as $1 billion, said one person, who asked to not be identified because the matter isn't public. The people said deliberations are at an early stage and the bank may decide to keep the business, which offers record-keeping, trust, custody and other retirement-plan services to corporations. A representative for Wells Fargo declined to comment on the potential sale. Wells Fargo,...

November 9, 2018

News, Slider2018, US

09NovNovember 9, 2018

Where flexibility risks liability

Flexibility is a good thing – especially for sports professionals, gymnasts, and those of us balancing work and domestic commitments. In a pension context, the increased flexibility introduced by the 2015 freedom and choice reforms has generally been seen as a welcome response to the evolving nature and shape of retirement. The flexibilities have proved popular, with over 3.7 million transactions in the first three years of the policy. However, as anyone suffering from hypermobility knows, the premium of flexibility...

November 9, 2018

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08NovNovember 8, 2018

Report: Just 5% of UK pension funds possess a climate change policy

Just 5% of the UK's largest pension fund managers have a specific policy on climate change in place, despite almost three-quarters (74%) claiming to acknowledge the risks that climate challenges pose to the finance sector. None of the companies surveyed by Pinsent Masons were able to confirm specific targets for decarbonising their own operations The research, conducted by international law firm Pinsent Masons, surveyed 43 UK pension fund managers with £479bn in assets under management on their approach to sustainability. The survey...

November 8, 2018

News, Slider2018, UK

08NovNovember 8, 2018

US. Midterm Elections: What’s The Verdict For Aging Policies?

Yesterday, one of the most significant midterm elections in recent history occurred, with significant implications for the outlook on public policies and legislation affecting aging and older Americans. Health and aging issues drove the midterms more than other issues, including preserving the Affordable Care Act (with special emphasis on threats to pre-existing condition protections), considering Medicare for All proposals and lowering prescription drug costs. The election results make prospects stronger for new policies to lower prescription drug costs, something President...

November 8, 2018

News, Slider2018, US

08NovNovember 8, 2018

UK. Ageing population a ‘real risk’ to Scottish budget

Scotland's ageing population poses a "real risk" to the country's budget in future, a Holyrood committee has said. The working-age population is set to fall from 2018 onwards, alongside a big increase in the number of over-75s. The rest of the UK is set to see its working-age population grow, which the Scottish Fiscal Commission said would place a drag on economic growth north of the border. The finance committee said this posed "fundamental questions" going forward. At present, Scotland's economy is forecast...

November 8, 2018

News, Slider2018, UK

08NovNovember 8, 2018

Leveraging the Pensions Fund to Promote Mortgage Activities in Ghana.

Ghana’s housing deficit is currently hovering above 1.7 million units. This means the country will require about 700,000 units of houses annually to meet this demand and thus requiring an investment of about $52 billion over a 10 year period. A myriad of factors account for the above mentioned deficit, some of these include; the lack of project continuity resulting from change in governments, rural urban migration, population growth, high cost of mortgage financing etc. On the flip side however,...

November 8, 2018

News, Slider2018, Ghana

07NovNovember 7, 2018

UK. New type of ‘mega-fund’ pension scheme gets green light from government

A new type of occupational pension scheme which pools workers’ investments into one super-sized pot has been given the green light by the government. Pensions minister Guy Opperman has announced that collective defined contribution (CDC) pensions will be brought forward. CDC schemes pool savers’ investments to create mega-funds, which aim to meet the future pension payouts of scheme members by spreading the investment risk across a variety of opportunities. The government is now consulting on how such schemes, which are used in...

November 7, 2018

News, Slider2018, UK

07NovNovember 7, 2018

US. New Actuary Rule for Assessing Pension Risk Kicks In

ASOP 51 requires looking at potential risks to plan’s future financial condition. A new actuarial standard in the US took effect November 1 that requires pension plan actuaries to factor in potential risks that “may be reasonably anticipated to significantly affect the plan’s future financial condition.” For many plan sponsors and actuaries who have already been performing this due diligence, it will be business as usual; however, for others, it may require a lot of extra work, but should provide a more...

November 7, 2018

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November 2018