September 2021
08Sep

Sweden. AP2 continues sustainability journey with stellar returns and costs

Swedish buffer fund, AP2, has incorporated Paris-aligned rules into its benchmark construction for global and emerging market equities. This year it turns its attention to Swedish and Chinese equities. The moves come on the back of the best-ever half year return for the SEK421.2 billion fund and its lowest ever costs. AP2 is one of the originals, a long-time ESG investor that has sustainability at its core. It started to divest from fossil fuel exposed companies in 2014 with a rationale...

September 8, 2021
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08Sep

US. Retirement Reforms Included in Key House Committee Budget Language

The Ways and Means Committee of the U.S. House of Representatives will begin debate Thursday on a set of major budget reconciliation recommendations, as directed by Section 2002 of the Concurrent Resolution on the Budget for Fiscal Year 2022. The mechanics of congressional budget reconciliation legislation are complicated, but as explained in a white paper published by the Center on Budget and Policy Priorities, reconciliation bills are not subject to filibuster. In other words, that means the legislation only needs...

September 8, 2021
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08Sep

Pension withdrawals by departing Hong Kong residents hit $270 mln in second quarter

Residents leaving Hong Kong withdrew HK$2.095 billion ($270 million) from Mandatory Provident Fund (MPF) pension accounts in the second quarter, up 111.6% from the same period in 2020. A sweeping security law imposed on Hong Kong in June 2020, aimed at anything Beijing regards as subversion, secession or terrorism, prompted residents of the city to move tens of billions of dollars to other countries including Canada, where thousands hope to forge a new future. read more A total of 8,000 claims...

September 8, 2021
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08Sep

India. PFRDA proposes changes in premature exit rules for Atal Pension Yojana, facilitates timely payment of money

By Navneet Dubey To increase acceptability of Atal Pension Yojana (APY) scheme among informal sector workers, the Pension Fund Regulatory and Development Authority (PFRDA) has proposed modifications in premature exit processing for the benefit of subscribers. APY is a social security scheme administered by PFRDA through banks and the department of post. The scheme offers guaranteed pension benefits to eligible citizens after reaching the age of 60 years, who subscribe and contribute to the scheme. According to a PFRDA circular issued on...

September 8, 2021
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07Sep

Sustainable investing gaining ground in Asia

Sustainable investing continues to gain ground in Asia, with governments, pension plans and asset managers moving to incorporate environmental, social and governance (ESG) factors into their investment strategies, a new study finds. Globally, most pension fund investors stayed the course with their asset allocation, even amid heightened volatility and uncertainty over the last year, according Mercer’s Asset Allocation Insights 2021 report. Foreign equities now represent 51% of aggregate equity allocations globally, the first time since 2013 that exposure outside of investors’...

September 7, 2021
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07Sep

HP ships off $5.2 billion in pension liabilities

HP Inc., Palo Alto, Calif., has entered into an agreement to purchase a group annuity contract from Prudential Insurance Co. of America to transfer about $5.2 billion in U.S. pension plan liabilities. The transaction, which removes nearly half of the computer hardware company's U.S. pension plan assets from its balance sheet, is scheduled to close in the company's fiscal year fourth quarter ending Oct. 31. When completed, the group annuity purchase will transfer the benefit-paying responsibility for about 41,000 retirees and...

September 7, 2021
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07Sep

UK. Scottish fintech firm set to help build pensions dashboard

The Pensions Dashboards Programme has appointed its central digital architecture suppliers, with technology services giant Capgemini and Scottish fintech firm Origo delivering the pensions finder, authorisation service and governance register. The procurement followed an extensive period of engagement, with both the pensions industry and potential suppliers, which shaped the development of the technical requirements. The five-month procurement started with the invitation to tender in April and its conclusion marks the end of the first phase of the programme. It now moves into...

September 7, 2021
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06Sep

Biggest funds increase 11.5% to hit $21.7 trillion in 2020

Assets of the world's 300 largest retirement funds increased 11.5% to $21.72 trillion in 2020, despite the effects of the coronavirus pandemic that ravaged stock markets and economies in the first half of the year, according to the latest annual survey by Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute. Read also Sweden. AP2 continues sustainability journey with stellar returns and costs The top funds' assets also grew at a faster rate than a year earlier, when they...

September 6, 2021
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06Sep

India. Atal Pension Yojana dominates social security scheme with 66% NPS subscriber base

Atal Pension Yojana has emerged as the most popular social security scheme under the National Pension System with over 2.8 crore subscribers, mainly from the non-metro centres. Out of 4.2 crore National Pension System (NPS) subscribers, over 66 per cent or 2.8 crore opted for the APY at the end of 2020-21, says the annual report of the National Pension Systems Trust (NPS Trust). The State Government Scheme ranks second with 11 per cent share, while the central autonomous bodies (CAB)...

September 6, 2021
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06Sep

Nigerian pension fund asset rises to N12.8 trillion as RSA contributors hits 9.4 million

Nigeria’s total pension asset value rose by N123.47 billion in July 2021 to close at N12.78 trillion compared to N12.66 trillion recorded in the previous month. This is contained in the pension funds industry report for the review month as released by the National Pension Commission. According to the report, the net asset value of Nigeria’s pensions fund recorded a 0.98% increase in the month of July 2021, while 22,349 RSA registrations were recorded in the same month increasing total...

September 6, 2021
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