September 2018

21Sep

US. Lawsuit against Brown University retirement plan proceeds

Three former and current University employees can move forward with some of the claims in a class action lawsuit alleging that the University mishandled their retirement funds, according to Chief Judge William Smith in a July order from the U.S. District Court for the District of Rhode Island. “Our clients (stepped) forward to file suit because they thought it would advance the interests of their fellow employees who participate in the retirement plan,” said Todd Collins, one of the lawyers...

September 21, 2018
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21Sep

Emerging markets could actually benefit from the trade war, says pension fund

The U.S.-China trade war could force emerging markets to implement structural reforms that would benefit long-term investors, according to Suyi Kim from the Canada Pension Plan Investment Board. "We believe in the long-term expected returns of emerging markets," she said at the World Economic Forum in Tianjin. Tit-for-tat trade tariffs between the United States and China are widely expected to hit developing countries hard as they rely heavily on exports to fuel growth. But there's one bright spot, according...

September 21, 2018
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21Sep

How Does Saving For Retirement Affect Low-Income Workers?

There’s little disagreement that saving for retirement is a good thing. But could helping poor people build savings through a retirement plan reduce or eliminate their eligibility for social assistance? This important question has come up recently because state- or city-sponsored retirement plans are, or soon will be, automatically enrolling workers, some of whom have low incomes. California, Connecticut, Illinois, Maryland, and Oregon, as well as Seattle, offer retirement savings programs for private sector workers who do not have...

September 21, 2018
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20Sep

UK. Pension funds shifting towards more complex investment portfolios

The majority of institutional investors like pension funds are increasing overhauling their portfolios in search of greater returns, with two-thirds having added at least one new asset class over the last three years. That is according to a global study of investors with around £6trn in assets by consultancy firm bfinance, which finds that private debt, infrastructure and real estate are among the most popular new additions to portfolios. Almost half of investors have increased their allocations to private markets, although...

September 20, 2018
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20Sep

Australia. Superannuation’s multimillion-dollar problem

Very few superannuation systems the world over can hold a candle to Australia’s, but one key flaw leaving certain Australians at risk of poverty has persisted through its 25-year history. The average Australian can expect to retire with hundreds of thousands of dollars in savings, taking pressure off the government pension and improving retirees’ quality of life – but it’s most effective for Australians who work full time for their entire adulthood. Taking a career break is punished severely by the...

September 20, 2018
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20Sep

UK. Industry demands mandatory pension dashboard

More than 20 pension providers and administrators are demanding ‘a firm stance on compulsion’ from the government on the pension dashboard after coming together to discuss the project. In the meeting hosted yesterday (18 September) by fintech provider Origo, providers agreed the government will need to legislate to "ensure the whole industry is fully compelled to participate". The plan behind the pension dashboard, which is due to launch in 2019, is to create the technology to allow savers to see all...

September 20, 2018
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20Sep

Greece. Pensioners body accuses Labour ministry, EFKA of delaying pensions

A Greek pensioners’ body has accused the leadership of the Labour Ministry, the Single Social Security Entity (EFKA) and the auxilliary pensions fund of delaying on purpose the issuing of new pensions to secure the record surplus the government is presenting to its creditors. The Unified Pensioners’ Network filed a request for an investigation to an Athens prosecutor on Wednesday asking him to investigate whether criminal offences have been committed against pensioners. The network claims a total of 180,000 pensions are...

September 20, 2018
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20Sep

South Africa’s state pension fund invests $100 million in Afreximbank

South Africa's state pension fund said on Thursday it would invest $100 million to buy shares in African Export-Import Bank (Afreximbank) as part of the pension fund's plan to invest in the rest of the continent. The Public Investment Corporation (PIC), which manages roughly 1.9 trillion rand ($130 billion) of civil servants' pensions and is Africa's biggest pension fund, said it would acquire Class B shares in Afreximbank. The PIC said the investment was part of its plan to invest 5...

September 20, 2018
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19Sep

Ireland. One in five will still pay mortgage in retirement

Large numbers of cash-strapped householders expect to be still paying off their mortgages in retirement. A third of people are also concerned about having enough money to live on when they give up work, according to research into pensions commissioned by Zurich Life. The survey found that one in five of those with a mortgage is so heavily indebted they expect to be still paying off the home loan when they cease working. An even higher proportion of renters have given up...

September 19, 2018
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19Sep

Corporate governance key to pension’s growth

The concept of sustainable investment is becoming more essential daily as an effective means of achieving desired impact on the global environment. The sustainable investment approach considers Environmental, Social and Governance (ESG) factors, as well as the long-term health and stability of the economy as a whole. These were the assertions of the Pioneer Director-General, the National Pension Commission (PenCom), Muhammad Ahmad, at the conference of Directors of Licensed Pension Operators in Nigeria, in Lagos. Read more Guardian

September 19, 2018
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