June 2021
21Jun

New Giant Saudi Pension Fund Aims to Crack World’s Top 10 Ranks

Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors. The new entity will boast assets of over $250 billion, according to the chief executive officer of Hassana Investment Co, the investment management arm of the kingdom’s General Organization of Social Insurance. GOSI, as the fund is known, will combine with the Public Pension Agency in a move that will reduce...

June 21, 2021
News, Slider, ,
Read more...
21Jun

Euro area pension fund statistics: first quarter of 2021

Total assets of euro area pension funds amounted to €3,105 billion in first quarter of 2021, €39 billion lower than in fourth quarter of 2020 Total pension entitlements of euro area pension funds dropped to €2,672 billion in first quarter of 2021, down €109 billion from fourth quarter of 2020 Total assets of euro area pension funds decreased to €3,105 billion in the first quarter of 2021, from €3,144 billion in the fourth quarter of 2020. Investment fund shares accounted for 48.2%...

June 21, 2021
News, Slider, , ,
Read more...
21Jun

UK. Pensions commits to net zero by 2050

Pensions has committed to net zero emissions by 2050 by overhauling its investment strategy. The new strategy will see members’ savings invested in an equity fund which invests in companies that have lower carbon footprints. It will include investing in sustainable bonds and sustainable equities to at least 50 per cent of the portfolio’s net asset value by the end of 2021. The pensions provider says the changes come after an overhaul of the trust’s investment strategy in order to integrate ESG...

June 21, 2021
News, Slider, , ,
Read more...
18Jun

Canada. The Public Sector Pension Investment Board Gains 18.4% in FY2021

The Public Sector Pension Investment Board (PSP Investments) on Wednesday reported that it gained 18.4% in its most recent fiscal year ending in March, thanks to the recovery in the capital markets after the downturn last year. The Canadian allocator, based in Ottawa, grew to C$204.5 billion (US$166.6 billion) in net assets under management, up 20.4% from C$169.8 billion from the prior fiscal year, the fund disclosed. This past fiscal year wasn’t an easy one, the fund’s top official reflected. “Our...

June 18, 2021
News, Slider, , ,
Read more...
18Jun

Saudi Arabia to merge pension, unemployment insurance funds with $29b in holdings

Saudi Arabia will combine two state-run pension and unemployment insurance funds into an entity with almost $29 billion of local and foreign stocks. Read also PIC confirms it owns 30% of new SAA consortium partner The cabinet approved the combination of the Public Pension Agency and the General Organization of Social Insurance (also known as GOSI). It'll boost investment returns, reduce costs and help with their diversification, Finance Minister and GOSI Chairman Mohammed Al Jadaan said in a statement. Read also Saudi...

June 18, 2021
News, Slider, ,
Read more...
18Jun

UK. Why investment pathways matter more than you think

The FCA launched its Retirement Outcomes Review in 2016 to check how the market was developing after the introduction of pension freedoms and address any signs of consumer harm. It found many who chose to draw down pension savings without taking regulated advice were losing out on retirement income because their pension pots were invested in cash, even though they didn’t intend to spend it in the short term. Two consultations were issued as a result of the review. First, CP18/17,...

June 18, 2021
News, Slider, , ,
Read more...
18Jun

US. Required IRA, 401(k) withdrawals would start at age 75 under congressional proposal. Here’s who would benefit

The age when older Americans must start making withdrawals from retirement accounts could change yet again. Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year after the 2019 Secure Act raised it from age 70½. The proposed adjustment would generally not impact most retirees: The majority — 79.5%, according to the IRS — take more than their...

June 18, 2021
News, Slider, ,
Read more...
17Jun

US. The Death Of Public Pension Transparency

Forensic investigations reveal that public pensions in states such as Pennsylvania, California, Tennessee, Rhode Island, North Carolina, and, most recently, Ohio, have long abandoned transparency, choosing instead to collaborate with Wall Street firms to eviscerate state public records laws and avoid accountability to stakeholders. Read also US. Pension Worries Ease for States, Localities on Stimulus, Stocks Predictably, billions that could have been used to pay government workers retirement benefits have been squandered. Read also US. Despite Market Rebound, Rising Unemployment Hurt Public...

June 17, 2021
News, Slider, , ,
Read more...
17Jun

German Pensionskassen call for rule easing to improve outlook – WTW survey

German Pensionskassen are calling for more relaxed regulatory requirements with a view to a more optimistic outlook, taking into account the current challenging environment. Read also Air France–KLM Completes De-Risking of Pension Plans According to a survey conducted by Willis Towers Watson (WTW), 62% of surveyed Pensionskassen support regulatory changes to improve future prospects. Read also UK. Why investment pathways matter more than you think However, only 14% of the respondents consider Pensionskasse an “interesting way” to run company pension schemes, the survey...

June 17, 2021
News, Slider, ,
Read more...
17Jun

UK. Industry fears customers are still not getting enough support with pension withdrawals

Withdrawal behaviours are among the top concerns of a third of pension providers, whilst two thirds fear this concern will only grow in the future as more and more people start to rely solely on a defined contribution pension. A new report from the Association of British Insurers (ABI), 'Future Proofing the Freedoms: Supporting customer decisions about pension withdrawals ', published today found pension industry experts fear that many people are withdrawing from their pension without any advice or guidance,...

June 17, 2021
News, Slider, ,
Read more...