February 2018

08Feb

Kenya. Over 5,000 senior citizens to benefit from social protection programme

Over 5, 000 elderly persons will benefit from the government’s social protection programme this year in Siaya County, area Social Development Officer Maxwel Anyona has said. Anyona said 5,182 people aged over 80 years will benefit from the programme that will see them earn sh2,000 monthly from the state coffers. He said that apart from the programme that targets those aged 80 years and above, another programme that benefits selected old persons aged 70 years and above will also see another...

February 8, 2018
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08Feb

Brazilian gov’t presents softer pension reform bill

A new version of Brazil's controversial pension reform bill that lowered the minimum contribution period to receive a pension was presented to the Congress on Wednesday. The proposal was presented by Arthur Maia, rapporteur for the pension reform in the Chamber of Deputies, to gain the two-thirds majority needed to pass the reform. The new bill lowered the minimum contribution period to 15 years from 25 years in the previous draft. The revamped bill maintains the same minimum retirement ages at 65...

February 8, 2018
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08Feb

Malaysia’s KWAP aims to have 70% of AUM be ESG-compliant

Kumpulan Wang Persaraan (KWAP), Malaysia’s second largest pension fund, hopes to have 70% of its assets under management (AUM) be environmental, social and governance (ESG)-compliant. KWAP, a pension fund for civil servants, had AUM of 137 billion ringgit (US$32.1 billion) as at end-September 2017. Wan Kamaruzaman Wan Ahmad, the fund’s chief executive officer, says currently, about 50%-60% of the AUM comply with ESG principles. Read More: Asia Asset

February 8, 2018
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07Feb

Canada Pension Plan Investment Board announces senior executive changes

The Canada Pension Plan Investment Board has announced three key senior executives will be leaving the organization. After nine years with CPPIB, Nick Zelenczuk, senior managing director and chief operations officer, will retire at the end of May. Eric Wetlaufer, senior managing director and global head of public market investments, will also depart at the end of May after almost seven years with the organization. Following an announcement last July that Graeme Eadie would be stepping back from his role as global...

February 7, 2018
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07Feb

UK. The Pensions Regulator (TPR) has given the trustee and trust manager of NOW: Pensions a deadline to fix long-running issues with the pension scheme.

TPR has required the master trust to act to resolve persistent administrative failings, over a number of years, which have led to some scheme members’ savings not being collected from employers and invested. TPR has fined the trustee (NOW: Pension Trustee Limited) a total of £70,000 for its failings and has issued it with an Improvement Notice. A related notice, called a Third Party Notice, has been issued to the trust manager (NOW: Pensions Ltd, or NPL). The notices direct that...

February 7, 2018
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07Feb

Stock market volatility raises risk for U.S. public pension funds

Recent stock market volatility could sting some U.S. public retirement funds in the short term and lead to bigger state and local government contributions in the event of a prolonged market downturn, pension analysts said on Tuesday. The portfolios of some funds have bulked up on riskier and more volatile investments over the past eight years, Eileen Norcross, senior research fellow at the Mercatus Center at George Mason University, said. “Some of these plans are going to suffer, at least in...

February 7, 2018
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07Feb

US. Bitcoin PENSION launched – but critics warn of HUGE risk as investors may lose ALL capital

BITCOIN could be used in revolutionary new retirement pension systems - although critics argue the new scheme by US company CoinIRA comes with a massive risk as investors could lose all their capital. CoinIRA provides investors the opportunity to save for retirement by investing in bitcoin, ethereum, and other digital currencies as part of a self-directed individual retirement account (IRA). A bitcoin IRA works much like any other retirement account. You make regular, tax-advantaged contributions to an IRS recognised retirement account that is...

February 7, 2018
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07Feb

South Africa. Why pensions are in very real danger: economist

Economist Mike Schussler warns that while many believe that the worst thing for South Africa’s economy would be getting a bailout from the International Monetary Fund, there are worse fates for its citizens – like the government dipping into the country’s R1.7 trillion pension fund. This week, the Government Employees Pension Fund (GEFP) announced that it would be ‘investing’ R5 billion in Eskom, which would help the embattled power utility cover costs to the end of the month. Despite the injection, however,...

February 7, 2018
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06Feb

South Africa. Pensions Used For R5-Billion Eskom Loan

The Public Investment Corporation (PIC) has granted Eskom a temporary lifeline by issuing a hefty R5-billion loan to fund the parastatal's operations during February. Fin24 reported on Monday that the PIC, on behalf of the Government Employees Pension Fund (GEPF), advanced the R5-billion bridging facility to Eskom for one month. Read more Huffpost

February 6, 2018
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06Feb

Canada. A New Age for Sustainable Projects

To reach Canada’s and Ontario’s environmental commitments, the property management industry needs to renovate 3 per cent of its existing stock every year for the next 33 years. It’s no easy task, and it’s one that all stakeholders are committed to improving building efficiencies, reducing energy usage, and making other eco-forward investments. “We’ve known for a while that if we want to get moving on these environmental goals, we need to be focusing on existing buildings,” affirms Duncan Rowe, Associate,...

February 6, 2018
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