March 2022
14Mar

UK. Govt’s dashboard proposals cause widespread industry concerns

The Pensions and Lifetime Savings Association has recommended three thresholds that must be met before pensions dashboards are launched to the public, but there is widespread industry concern around liability for incorrect or misinterpreted information, and significant doubts whether its launch is achievable by the government’s preferred dates. The Department for Work and Pensions launched a consultation into its draft dashboards regulations in January that set out detailed data presentation and communication requirements, and that reaffirmed the government’s commitment to...

March 14, 2022
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11Mar

US. Putin, Russian Pals “Mystery” Partners in Public Pension Deals?

America’s state and local government pensions invest as much as 40 percent of their assets in secretive, offshore “alternative” hedge, private equity, real estate and venture funds which warn that certain unidentified “mystery investors” pay lower fees, are provided greater information about investment strategies and portfolio holdings, have been granted liquidity preferences and receive superior net performance—all at the expense of America’s public sector workers. Read also US. Corporate pension buyouts record second-highest year in volume How many wealthy Russians are...

March 11, 2022
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11Mar

UK. Pension schemes still playing ‘catch-up’ on ESG despite increased awareness

Just 10 per cent of pension schemes have a standalone policy on environmental, social and governance (ESG) issues, research from Mercer has revealed, prompting concerns that pension schemes are playing 'catch-up' on improving ESG outcomes. The analysis, which utilised data from Mercer’s Responsible Investment Total Evaluation (Rite) analysis of more than 650 UK occupational pension schemes, also revealed that only 6 per cent of schemes have a standalone policy related specifically to climate change. And whilst stewardship was carried out for...

March 11, 2022
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11Mar

Does ‘Impact Investment’ Perform Better Than Evil Investments?

Money is a completely made-up, invented resource. In the modern era, we literally create money out of thin air—and increasingly, it doesn’t even require any sort of physical presence. Vast fortunes are represented by ones and zeroes on humming servers, and even the values of currencies bob and weave according to strange algorithms few people truly understand. Our relationship with money is also strange. Some of the least important folks in our society get paid the most, while those who...

March 11, 2022
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10Mar

US. Corporate pension buyouts record second-highest year in volume

U.S. corporate pension plan buyout sales totaled $34.2 billion in 2021, the highest volume since 2012, a LIMRA Secure Retirement Institute survey found. Volume should only increase as more U.S. corporate pension plans are showing interest in completing such deals, the institute said. For the fourth quarter, single premium buyout sales volume was $12.8 billion, down 19% from the $15.8 billion in volume in the third quarter and down 7.2% from the $13.8 billion in volume in the fourth quarter of...

March 10, 2022
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10Mar

UK. Gender Pension Gap widens from the age of thirty-five

New research from Aviva has found the Gender Pension Gap begins to widen significantly from the age of thirty-five. Based on the workplace pension employer and employee contributions of just over 2 million savers and retirees (1), the gap between men and women’s pension contributions for 35 to 39 year olds is 18%. It then increases to 23% for 40-44 year olds and 29% for 45-49 year olds. It then stretches to 35% for 50 to 54 year olds. Read also...

March 10, 2022
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10Mar

Saving for Retirement by Kenya’s Informal Sector

Insurance companies in Kenya need to offer financial management education which is a key contributor to ensuring that the informal sector workers save and invest in pension schemes. Kenya’s vision 2030 targets the provision of high quality of life for all citizens. There are both public and privately run retirement schemes in the country but most citizens are subscribed to NSSF especially those in the formal sector. In Kenya, the current retirement age stands at 60 years but unfortunately, most people...

March 10, 2022
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10Mar

South Africa. GEPF will grant a 5.5% increase to its pensioners

The Government Employee Pension Fund (GEPF) has announced that its pensioners will receive an annual pension increase of 5.5% from April 1, 2022. Read also Saving for Retirement by Kenya’s Informal Sector According to the fund, it instituted the increase to enable its beneficiaries to keep up with rising inflationary rates. Read also India. Labour Ministry launches ‘Donate-a-Pension’ initiative: Check details “This pension increase is based on the 5.5% inflation rate for the 12 months ending 30 November 2021, thus making the increase...

March 10, 2022
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09Mar

These are the world’s largest pension funds

The COVID-19 pandemic may have disrupted markets across the world, but a new report reveals that pension fund assets rose vigorously in 2020. According to the annual joint study from Thinking Ahead Institute and Pensions & Investments, assets under management (AUM) of the world’s top 300 pension funds grew by 11.5% in 2020, a 3.5% increase from 2019. Additionally, the top 20 pension funds made up 41.8% of 2020′s total AUM, up 1.1% from the previous year. The study reports that...

March 9, 2022
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09Mar

UK. Pension Protection Fund pulls out of Russia

The Pension Protection Fund will eliminate its negligible exposure to Russian assets when liquidity in the market improves, it has announced. Pension schemes have raced to freeze investments and divest from Russia since it invaded Ukraine in February, drawing international condemnation and widespread boycotts. Schemes, for the time being, appear limited to stating an intention to move out of Russia, given a complete lack of liquidity in Russian assets. The Moscow Stock Exchange closed on February 28, while the Russian government has...

March 9, 2022
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