October 2018

25Oct

Manama to host 3rd MENA Pensions Conference next week

What is the prevailing situation of pension globally and patterns of evolution in this vital sector? Are actuarial deficits in pension funds (globally) real or inflated, and how should they be understood? Can financial markets be a complementary alternative through meaningful pension products, and how should they be designed? Does the current legislation of financial regulators contribute to a flourishing pension industry? What are the best assets and asset allocations for pension investments? What is the digital ecosystem “Fintech”...

October 25, 2018
News, Slider,
Read more...
25Oct

International pension association releases guide to addressing climate change

The International Centre for Pension Management has released a guide for integrating climate change considerations into investment processes. “The ICPM climate change guide is unique from others of its kind because it was written by asset owners for asset owners,” said Deborah Ng, director of strategy and risk at the Ontario Teachers’ Pension Plan and one of the contributors to the guide, in a press release. “The goal of the ICPM climate change guide is to share experiences for large...

October 25, 2018
News, Slider
Read more...
25Oct

UK. Prudential Closes $3.2 Billion in New UK Longevity Reinsurance Deals

Firm says market for pension de-risking is expanding at its fastest pace in years. US-based Prudential Retirement, a unit of insurance giant Prudential Financial, has concluded $3.2 billion in previously undisclosed longevity reinsurance contracts, which the company says is another sign that pension de-risking activity in the UK is continuing at a brisk pace. As part of the transactions, Prudential assumes the longevity risk for approximately 13,200 British retirees. “The market for pension de-risking solutions is expanding at its fastest pace in...

October 25, 2018
News, Slider,
Read more...
25Oct

MIT Center launches contest to develop new type of retirement plan for the public sector

The MIT Golub Center for Finance and Policy will distribute a prize pool of $20,000 to the winners The Golub Center for Finance and Policy (GCFP) at the Massachusetts Institute of Technology (MIT) is launching a contest to generate strategic proposals aimed at enhancing retirement plans covering millions of public sector workers across the US. A prize pool of $20,000 will be distributed to the winners who propose the most well-reasoned, prudent and implementable strategies. Everyone is eligible to participate....

October 25, 2018
News, Slider,
Read more...
24Oct

A grey area: Asia’s elderly

Asia’s ageing population will come under discussion today at a conference in Tehran, co-hosted by the Iranian government, the United Nations and HelpAge International, an NGO. Unlike the West, some Asian countries will grow old before they get rich. Deloitte, a consultancy, reckons that by 2030 the region will account for three-fifths of the world’s over 65s. The elderly are living longer with better access to health care. Younger ones are marrying late, causing fertility rates to drop sharply....

October 24, 2018
News, Slider,
Read more...
24Oct

Nigerian pensioners issue ultimatum on pension arrears

The Nigeria Union of Pensioners (NUP) have issued a 21-day ultimatum to the government to pay the arrears of pensions owed them and also increase the minimum being paid, in line with the impending review of minimum wage.Mr. Abel Afolayan, the national president of the NUP, who made the demands at a news conference in Abuja, said that the union has served the Pension Transitional Arrangement Directorate (PTAD the notice in compliance with the extant labour laws. He said that...

October 24, 2018
News, Slider,
Read more...
24Oct

UK. Savers top-up pensions as Budget cut looms

Pension provider Zurich has seen pension top-ups soar ahead of next week’s Budget as fear of pension tax relief cuts loom. Cash flowing into pensions on Zurich’s investment platform increased 98 per cent in September, compared to the annual average. The value of one-off pension contributions also jumped 161 per cent from the 12-month average as savers invested larger amounts, the provider said. Alistair Wilson, Zurich’s head of retail platform strategy, said people were "making the most of the higher pension savings...

October 24, 2018
News, Slider,
Read more...
24Oct

S.African pension fund buys majority stake in Africa’s biggest cattle firm

South Africa’s state pension fund and a local black investment firm have bought a majority stake in Africa’s biggest cattle company for 5.2 billion rand ($360 million). The Public Investment Corp. (PIC), Africa’s largest investment fund and the biggest investor in South Africa’s economy, said on Tuesday it had bought a majority share in Karan Beef alongside Pelo Agricultural Ventures, a black-owned agriculture investment firm. President Cyril Ramaphosa has made the agriculture sector one of his top growth priorities as he...

October 24, 2018
News, Slider
Read more...
24Oct

Global pension systems struggling to balance adequacy, sustainability

Tension between pension adequacy and sustainability is growing across the world, according to the annual Melbourne Mercer Global Pension Index. The Netherlands and Denmark have the best global pension systems, with scores of 80.3 and 80.2, respectively, and both achieving A grades. They scored highly on adequacy and sustainability, while other European countries, such as Austria, Italy and Spain, scored B grades on adequacy and received E grades for sustainability. The scores are determined by considering 40 different indicators. Canada holds...

October 24, 2018
News, Slider
Read more...
23Oct

Study: Nearly 90 per cent of pension savings not accounting for climate risks

Assessment of world's 100 largest pension funds finds only 13 per cent have been assessed for their exposure to climate-related risks Up to £7.5tr of savings managed by the world's largest pension funds are potentially exposed to climate-related risks and have yet to undergo any formal climate risk assessment, a new analysis released today reveals. Non-profit initiative the Asset Owners Disclosure Project (AODP) assessed the world's 100 largest pension funds for the study and found just 13 per cent of savings...

October 23, 2018
News, Slider,
Read more...