No Country for Old Men (or Women): The Impact of Migration on Pension Funding Adequacy and Sustainability
10/09/2022 Retirement security is of paramount importance to working people. Adequate retirement income is also a leading concern for private and public pension systems.

Changes in Retirement Savings During the COVID Pandemic
19/08/2022 This paper documents changes in retirement saving patterns at the onset of the COVID-19 pandemic.

COVID-19 Private Pension Withdrawals and Unemployment Tenures
08/07/2022 This is the first study to evaluate the effects of early pension withdrawal policies on tenures on unemployment payments in the COVID-19 context. 

Informalidad laboral y Covid-19: vulnerabilidad o flexibilidad
06/07/2022 A finales de abril de 2020 el número de infecciones por Covid-19 había superado los 2,8 millones de casos en todo el mundo, con un número de muertos cercano a 195 000 y 210 países y territorios afectados

Labor Migration in Asia. COVID-19 Impacts, Challenges, and Policy Responses
26/05/22 International migration is a difficult megatrend to predict. Yesterday, the COVID-19 pandemic; today, the Ukrainian refugee crisis; these have had and will have unpredictable long-lasting impacts on the international cross-border movements of tourists and migrant workers. 

The post-pandemic prognosis for pension systems
04/05/22 Pension systems around the world faced a “stress test” during the pandemic—what you might call the “pension pandemic paradox.”

UK. TPR to issue fresh dashboards guidance in May
28/04/22 The Pensions Regulator will publish new guidance on pensions dashboards to support trustees and scheme managers in early May, it has revealed.

Changes in Retirement Savings during the COVID Pandemic

11/04/22 This paper documents changes in retirement saving patterns at the onset of the COVID-19 pandemic. We construct a large panel of U.S. tax data, including tens of millions of person-year observations, and measure retirement savings contributions and withdrawals

Report on the economic impact of coronavirus disease (COVID-19) on Latin America and the Caribbean
10/03/2022 On 26 March 2020, the Government of Mexico convened a virtual ministerial meeting on health affairs for response and follow-up to the COVID-19 pandemic in Latin America and the Caribbean, which was attended by foreign ministers and health representatives from 30 countries of the Community of Latin American and Caribbean States (CELAC), as well as regional organizations.

The Early Impacts of the Coronavirus Pandemic on Americans’ Economic Security
10/03/22 The COVID-19 pandemic has had enormous effects on the U.S. economy and may have had serious negative repercussions for many Americans’ financial stability. We use longitudinal survey data from a nationally representative internet panel, the Understanding America Study, to examine the early impacts of the pandemic and policy responses to it, on Americans’ financial stability, financial well-being, and financial behavior (as of May 2020).

Exponential Growth Bias and the Law: Why Do We Save Too Little, Borrow Too Much, and Fail to React on Time to Deadly Pandemics and Climate Change?

10/03/2022 Many human decisions, ranging from the taking of loans with compound interest to fighting deadly pandemics, involve phenomena that entail exponential growth. Yet a wide and robust body of empirical studies demonstrates that people systematically underestimate exponential growth. This phenomenon, dubbed the exponential growth bias (EGB), has been documented in numerous contexts, across different populations, using both experimental and observational methods.

Allowing Early Access to Retirement Savings: Lessons from Australia
03/03/22 In response to the COVID-19 pandemic, many governments around the world introduced policies aiming to provide citizens with financial relief through early access to their retirement savings. In Australia, the Early Release of Super (ERS) scheme allowed eligible citizens to withdraw up to A$20,000 in funds between April and December 2020.

How the Pandemic Altered Americans’ Debt Burden and Retirement Readiness
24/02/22. This paper analyzes Americans’ perceptions of being debt constrained. We focus on which population subgroups reported feeling most debt constrained, how this perception was impacted by the COVID-19 pandemic, and how it relates to financial literacy and retirement readiness

Overpaying and Undersaving? Correlated Mistakes in Retirement Saving and Health Insurance Choices

24/02/2022. Not everyone makes wise financial choices. A large body of research documents behavior inconsistent with well-informed consumers maximizing their expected utility of consumption. It remains unknown, however, whether such behavior is correlated across domains.

Pandemics: Insurance and Social Protection
26/01/22 This open access book collects expert contributions on actuarial modelling and related topics, from machine learning to legal aspects, and reflects on possible insurance designs during an epidemic/pandemic.

​Virus has created different economic system, says Finnish pensions chief
01/02/22 The chief executive officer of the State Pension Fund of Finland (Valtion Eläkerahasto, VER), said the economic conditions brought about by the pandemic will stay with us, and with digitalisation and medicine as the key drivers of this new system, that is where governments need to allocate resources.

UK. DWP publishes draft dashboard regulations
01/02/22 The Department for Work and Pensions (DWP) has launched a consultation on the draft pensions dashboards regulations.

Australian Pension Seeks to Double Its Assets to $108 Billion by 2025
20/01/22 Australia’s Construction & Building Unions Superannuation Fund expects to double assets to A$150 billion ($108 billion) in three years by snapping up rivals as regulator scrutiny forces smaller firms to exit.

The elephant in the room: Bringing sustainable investment to Africa
19/01/22 The coronavirus pandemic has renewed interest in sustainable investing strategies that allow investors to both protect the financial value of their assets and contribute to solutions to global problems such as climate change.

China. Plan focuses on affordable elderly care
12/01/22 China is taking steps to make affordable nursing services available to more elderly people in the next four years to meet the needs of its aging population and improve the quality of their lives.

US. The clock is ticking on retirement security bills, industry experts say
10/01/22 Lawmakers on both sides of the aisle are motivated to pass another major retirement security package in 2022, but with midterm elections looming in November, time is of the essence, retirement industry sources said.

India’s jobs crisis is more serious than it seems
07/01/22 Jitendra Maurya was one of more than 10,000 jobless young people who turned up for interviews for 15 low-skilled government jobs in the central state of Madhya Pradesh.

US. Pandemic’s impact on retirement savings varies by geography, gender and age
07/01/22 Nearly every American has felt the impact of the pandemic on the ability to save for retirement.

Racial Inequality in Unemployment Insurance Receipt and Take-Up
06/01/22 This paper studies differences in receipt and take-up of unemployment insurance (UI) benefits among white and Black individuals. We combine state-level UI regulations with data containing detailed information on individuals’ work history and UI receipt.

Did Pandemic Unemployment Benefits Reduce Employment? Evidence from Early State-Level Expirations in June 2021
06/01/ 22 The generosity of Unemployment Insurance (UI) benefits was expanded during the pandemic (FPUC), along with the groups of workers eligible for benefits (PUA). These two programs were set to expire in September 2021, but 18 states opted out of both in June 2021.

The great population growth slowdown
06/01/2022 At the stroke of midnight on January 1, New York City welcomed its first new inhabitant of 2022: Leyla Gessel Tzunun Garcia, born as the new year began at Coney Island Hospital in Brooklyn.

Can China’s creaky health insurance scheme withstand its ageing population and coronavirus?
03/01/22 For two decades, 65-year-old farmer Che Xiuyue had been troubled by osteophytes, bony lumps that grew on her knees, causing her unbearable pain and stiffness.

Germans see pandemic, pensions as biggest topics for 2022-poll
03/01/22 Germans want their new government to focus on fighting the coronavirus pandemic and safeguarding pensions in 2022, with fewer people wanting them to prioritise the climate crisis, an opinion poll showed on Sunday.

US. Rising Inflation Viewed as Biggest Threat to Retirement in 2022
29/12/21 While Americans worried most about the impact of the COVID-19 pandemic in 2021, they now see rising inflation as the biggest risk to their retirement plans.

UK. Platforms must help advisers reduce carbon footprints
30/12/21 Platforms must explore ways to support advisers in their digital and sustainable goals, M&G Wealth’s sales director has said.

US. Rising Inflation Viewed as Biggest Threat to Retirement in 2022
29/12/21 While Americans worried most about the impact of the COVID-19 pandemic in 2021, they now see rising inflation as the biggest risk to their retirement plans.

US. With Pandemic Lessons Learned, Institutional Investors Gear Up for 2022
28/12/21 Recently, the Massachusetts Mutual Life Insurance Co. (MassMutual) announced it had finalized the consolidation of Barings’ mutual funds with MassMutual funds onto the MassMutual investments platform.

Record returns notched in pandemic head list
27/12/21 A global pandemic in its second year, historically strong equity markets and a new occupant in the White House dominated headlines during the past year, while the return of inflation and regulatory and legislative changes were also among Pensions & Investments’ top 10 stories of 2021.

UK. Workplace pensions bounce back after Covid-19 effects
22/12/21 On the go: Workplace pension contributions grew by more than 15 per cent in the second quarter of 2021, when compared with the previous year, due to contribution levels recovering after the pandemic, according to the Office for National Statistics.

US population growth in first year of Covid was lowest in history
22/12/21 The US recorded the lowest rate of population growth in its history in the first year of the coronavirus pandemic, according to the US Census Bureau.

UK. WPC launches inquiry into saving for later life
16/12/21 The Work and Pensions Committee (WPC) has launched the third and final part of its inquiry into the impact of the pension freedoms and protection of savers, focusing on what needs to be done to help people plan and save for retirement.

US. Record Returns Not Enough to Ensure Public Pension Stability
16/12/21 Despite logging average returns of 27.5% during fiscal year 2021, state pension plans still face a large funding shortfall and might have billions more in unfunded liabilities not yet recognized on their books, according to a recent report from nonprofit Equable Institute.

Retirement trends: Customizing planning post-pandemic
15/12/21 Retirement may seem like table stakes in the benefits landscape, but we’ve entered a new era where many employees are thinking about their retirement plans differently.

UK. Pension risk settlement market set to pass £45bn by end of 2021
15/12/21 The UK pension risk settlement market is expected to exceed £45bn by the end of 2021, representing the third year in a row that activity has reached this level, according to analysis from Aon.

IMF warns that Chile’s $173bn pension industry is at risk
14/12/21 A joint investigation by the International Monetary Fund (IMF) and the World Bank has found that Chile’s AFP pension fund industry is facing long-term structural issues as a result of a policy allowing pensioners to withdraw large portions of cash from their accounts.

E.U. Plan to Boost Gig Economy Workers Is Latest Blow to Apps
13/12/21 European Union plan to improve conditions for the growing number of gig economy workers could mean millions more of them are classified as employees entitled to benefits, the latest setback for digital platforms that rely on independent contractors to deliver food and offer rides.

US. For a workforce in flux, retirement plans and benefit options may be increasingly important
19/11/21 The tight labor market shows no signs of easing in the coming year, likely making benefits and retirement plan options an important part of employee recruitment and retention.

India’s informal economy more than halved
09/11/21 The Reserve Bank of India’s digital payments index also captures the spread of digital, taking into account growth in the payments infrastructure. Of the four key objectives of demonetisation, India appears to have done well on three. There has been a rise in digital transactions.

US. Newly Flush With Cash, Retirement Funds Struggle to Find Appealing Investments
08/11/21 State and local pension funds are reaping a historic windfall thanks to billions of dollars in record market gains and surplus tax revenues. Now they need to decide what to do with the money.

UK. House of Lords votes for changes to pension triple lock freeze
03/11/21 The government has been defeated in the House of Lords over its one-year suspension of the “triple lock” formula to increase the state pension.

The COVID Retirement Boom
29/10/21 As of August 2021, during the COVID-19 pandemic, slightly more than 3 million people likely retired earlier than they would have otherwise.

How Chile’s Pension System Became a Covid Piggy Bank
29/10/21 Chile’s love-it-or-loathe it private pension system has long served as a pillar of the nation’s capital markets. Since the pandemic hit, it’s been serving another role, that of national piggy bank. 

Pandemic Offers This Silver Lining For Retirement Savers
28/10/21 From doctors visits to business meetings, the COVID-19 pandemic has shifted so many of our everyday interactions from in person to online.

UK: Pension top-up for 1.2m low earners
28/10/21 Around 1.2m low earners currently missing out on tax top-ups on their pension contributions are to receive payments from the government under measures outlined in the Budget.

Chile’s Fourth Run on Pension Funds Heads to Senate After Committee Approval
27/10/21 Chile’s Senate Constitution Committee approved a proposal for a fourth round of early pension withdrawals that would pump as much as $20 billion into one of the world’s fastest-growing economies.

Firms Are Shaking Up Benefits To Keep Workers From Quitting. The Retirement Plan Could Be Next.
27/10/21 As resignations soar and the war for talent heats up amid a tight labor market, companies are turning to any tool at their disposal—even the normally staid retirement plan—to attract and retain workers.

COVID caused more than 3 million Americans to retire early, a new Fed analysis finds
26/10/21 More than 3 million Americans decided to retire earlier than they would have due to the COVID-19 pandemic, according to a new analysis.

Canada. LifeWorks releases the results of its Performance Universe of Pension Managers’ Pooled Funds
26/10/21 LifeWorks (TSX: LWRK) has released the results of its Performance Universe of Pension Managers’ Pooled Funds for the third quarter of 2021.

‘We are worried!’ Number of EU citizens claiming benefits doubled during pandemic
25/10/21 The number of EU citizens claiming benefits has doubled during the pandemic, with around 780,000 EU citizens receiving working-age benefits, according to new data from the Department for Work and Pensions.

Canada. Uber drivers, gig workers pressure Ontario government for employee status
21/10/21 Tens of thousands of people in the province drive and deliver for apps such as Lyft, DoorDash

Ghana. NPRA to target informal sector as it holds Pensions Week in Western Region
21/10/21 Mr Stanley Ogoe, Western Regional Director of the National Pensions Regulatory Authority (NPRA) has hinted that the Authority is taking steps to enlighten the informal sector workers on the benefits of having a retirement plan and becoming members of pension schemes to enable them to start their retirement plans early.

Pension, health costs to dwarf COVID debt legacy in long term -OECD
20/10/21 The costs of repaying debt raised to help households and businesses through the COVID-19 crisis will be dwarfed by those from long-term trends like funding pensions and health services as societies age, the OECD said in a report on Tuesday.

Kenya. Pension funds participation in market drops
19/10/21 Pension schemes cut investment in securities on Covid-19 disruptions, blunting local investor stake in the economy and making Kenya slip four positions in an index that ranks countries’ financial market attractiveness.

South Africa. Millennials hardest hit financially in 2020, study shows
18/10/21 Young people employed in medium to large companies and belonging to a retirement fund were harder hit financially by the pandemic than their middle-aged colleagues, with higher retrenchment rates and higher levels of financial stress, as measured by their credit scores and their default rates on debt.

China to encourage development of pensions, insurance for delivery sector
15/10/21 China’s top banking and insurance regulator said it would encourage insurers to accelerate the development of commercial pension products and accident insurance for gig-economy workers such as couriers and takeout deliverymen.

DC execs think U.K. government should raise mandatory contribution rates
12/10/21 U.K. executives that oversee defined contribution plans think the government should increase mandatory contribution rates and did not change their approach to running their plans as a result of the coronavirus pandemic.

Employers offering retirement benefits report greater productivity during COVID, cite reduced employee stress: New research from HOOPP and Maru/Matchbox
11/10/21 Employers that offer retirement savings benefits report higher levels of employee productivity over the past year and have greater optimism for the future, according to the Canadian Employer Pension Survey, a survey of 845 Canadian employers by HOOPP and Maru/Matchbox.

Chilean bill to allow for fourth pension withdrawal advances in Congress
29/09/21 Chile’s lower congressional chamber on Tuesday approved a bill that would allow citizens to make a fourth withdrawal from their pension funds, and sent it to the Senate for a vote, despite opposition from the government.

US. Bridging The Retirement Readiness Gap With Focused Financial Literacy
29/09/21 Most Americans are behind the curve when it comes to their retirement readiness. However, there’s a significant racial gap in retirement readiness — especially between white and non-white individuals

US. Stock Market Helps State Pension Debt Hit 10-Year Low, But Crisis Still Looms Large
24/09/21 Thanks to historic investment returns over the last year, state public pension plans are in their best shape since the Great Recession.

Nigeria: Challenging Times for PFAs
23/09/21 The Contributory Pension Scheme administered by the PFAs has since inception, 17 years ago, recorded some achievements as well as met obstacles. In this report, Ebere Nwoji takes a look at the performance of the

UK. Dipping into pension could cost savers their benefits
20/09/21 People using pension freedoms to dip into their retirement pot at 55 could end up losing their benefits, Sir Steve Webb, partner at LCP and former pensions minister, has warned.

Saving govt pensions by encouraging citizens’ savings
20/09/21  All Arab countries, except for three, have deficits in their pension funds exceeding 50%. As for the three countries, two recapitalize its fund early last decade. Likewise, these three countries are not immune from deficits of similar proportions during the next to decades if they end up doing the same thing.

UK watchdogs team up to gauge value for money in DC pensions
17/09/21 The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have published a joint discussion paper on developing a common framework for measuring value for money in defined contribution (DC) pension schemes.

US. The State Pension Funding Gap: Plans Have Stabilized in Wake of Pandemic
15/09/21 The nation’s state retirement systems finished the 2021 fiscal year in their best condition since the Great Recession of 2007-09. According to projections by The Pew Charitable Trusts, the gap between the cost of pension benefits that states have promised their workers and what they have set aside to pay for them dropped in 2021 to its lowest level in more than a decade. Pew estimates that state retirement systems are now over 80% funded for the first time since 2008.

Korea’s aging population to sap fiscal health: Fitch
13/09/21 The fast-paced aging of South Korea’s population is likely to undermine the fiscal health of Asia’s fourth-largest economy in the long run amid soaring debt, credit ratings agency Fitch Ratings said Monday.

Millions of older people in the U.S. live on the economic edge—evictions will send them into homelessness
13/09/21 In late August, the Supreme Court ruled that evictions can resume, despite an effort by the Biden administration to temporarily ban them due to the pandemic. The impact of this ruling could have dire consequences for many older adults already on the financial brink.

Germany. Pensioners can expect significantly higher pensions
13/09/21 Pensioners in Germany can expect a significant increase in their pay next year, according to the pension insurance fund. “I assume that the missed increase will be made up for to a certain extent next year and that pensioners will get a decent plus in 2022,” Gundula Roßbach, President of the German Pension Insurance Association, told the newspapers of the Funke Media Group

Private pension plans in Latin America and sustainable finance
09/09/21 The private pension plan (PPP) market in Latin America is the region’s largest institutional client segment, with more than USD 900 billion in assets under management (AUM) at the end of 2020.

Sustainable investing gaining ground in Asia
07/09/21 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.

Biggest funds increase 11.5% to hit $21.7 trillion in 2020
06/09/21 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.


UK. Pension contributions hold up well despite Covid
02/09/21 Workers kept up with payments into their pension funds last year, confounding fears that many people might scrap or cut their contributions because of pandemic pressures, according to government data.


More Than 4 Billion People Have No Social Protection as COVID-19 Wreaks Havoc

02/09/21 The International Labor Organization reports more than 4 billion people globally have no social protection at a time when the COVID-19 pandemic is wreaking havoc upon their lives and livelihoods.

US. Suburban residents risk losing homes over rising pension costs
02/09/21 Patricia Hill grew up in Chicago’s Hyde Park neighborhood dreaming of one day owning a home. She and her husband accomplished that dream in 2003 when they moved to the suburb of Matteson to raise their two daughters

Sustainability Gains In Asset Management, Led By Marketing
01/09/21 Asset managers are paying more attention to ESG — environmental, social and governance — concerns, according to a recent report from Northern Trust.

Does the U.S. have a retirement crisis?
31/08/21 At the end of a recent conference, the perennial question arose — once again — as to whether the United States faces a retirement crisis.

Zimbabwe. NSSA closes accounts for widows
31/08/21 The National Social and Security Authority (Nssa) has closed accounts for widows and widowers, triggering an outcry.

Plan for early pension access in South Africa could do more harm than good, authorities warn
30/08/21 Financial authorities have warned that the proposed Pensions Funds Amendment Bill could have a harmful impact on financial savings in South Africa.

UK. 10m pensioners risk running out of money — poll
08/27/21 Nearly 10m British pension savers risk running out of money in retirement because they do not know how to make their savings last, according to new analysis which sheds fresh light on the complex choices facing retirees.

US. How to Plan for Retirement in a Gig Economy
08/27/21 Being your own boss. Making your own schedule. Taking control of your career. Those perks and others—including not worrying about being downsized by your company—drive professionals into self-employment all the time. In fact, the gig economy keeps growing year after year.

US. Retirement Tax Benefits Exacerbate Racial Inequities
08/26/21 In a recent report co-authored with University of Chicago Professor Daniel Hemel, I described how our retirement tax system favors the rich disproportionately.

Sweden’s biggest pension manager cuts stocks on inflation concern
08/25/21 The specter of accelerating inflation is prompting the biggest pension manager in Sweden to cut its holdings of stocks and bonds.

Ireland. Pensions gap widens as pandemic deepens the divide
08/25/21 Psychologists say we have very little appreciation or concept of ourselves in the future.

Why The Decline In Life Expectancy Shouldn’t Affect Your Retirement Plans
08/25/21 Average life expectancy in the U.S. declined by 1.5 years in 2020, according to a recent report from the Centers for Disease Control and Prevention.

US. Companies Find It’s a Good Time to Push Pension Obligations Off Balance Sheets
08/24/21 Finance chiefs are stepping up their efforts to move pension obligations off company balance sheets through annuity purchases and other financial tools, taking advantage of well-funded plans and a respite from the scramble over the past year to deal with the Covid-19 pandemic.

US. Despite the pandemic, 401(k) balances and savings rates are higher than ever
08/24/21 Even with climbing Covid-19 case numbers and ever-increasing inflation, employed retirement savers have been socking away record amounts of cash in their retirement investment accounts.

China’s pension funds post surge in investment returns in 2020
08/19/21 Chinese pension funds posted an investment return rate of 15.84% last year, nearly doubling the 20-year average of 8.51%, a report from the National Council for Social Security Fund showed on Wednesday, partly due to a jump in domestic stock markets.

UK. 4 million under-40s missing out on pension investment returns due to low risk appetite
08/17/21 Around four million workers under 40 could be losing out on investment returns as they are in low-risk pensions that do not have potential for higher growth, according to research from Interactive Investor (II)

UK. I Don’t Want My Pension Funding Sunak’s Big Bang
08/16/21 The U.K. government is calling on the nation’s pension funds to participate in an “investment big bang” by allocating more capital to domestic and long-term illiquid investments. It’s a proposal that’s short on detail and fraught with difficulties, and one that pension fund trustees should treat with an abundance of caution.

Warning over major retirement change for South Africa
08/16/21 National Treasury has published further details around a new retirement system proposed for South Africa that will allow people to access a portion of their savings early in times of a financial emergency.

Why it is important to start pensions early
08/12/21 Young savers and the self employed saw the largest proportional increases in financial vulnerability during the pandemic, rising by more than 40 percent, according to the Financial Conduct Authority.

US. Pandemic Puts Secure Retirement at Greater Risk for Many
08/11/21 The COVID-19 pandemic has had an outsize effect on people 50 and older: Not only did it impact older adults’ health more severely than younger ones, but it also forced many into early retirement and prompted others to take withdrawals from their savings earlier than they had planned.

How COVID-19, politics have impacted Latin America’s private pension fund industry
08/11/21 Assets under management held by Latin America’s private pension fund managers have trended higher, reaching US$659bn last year.

UK. Pandemic widens pensions pot gender gap
08/11/21 The gender pensions gap grew to nearly £200,000 this year as the Covid-19 pandemic took a heavy toll on women’s finances, according to new analysis.

Asia vast savings can bring on an ‘age of sustainability’
08/10/21 Insurance companies, pension funds, and other institutional investors in Asia and the Pacific can pave the way to a resilient and sustainable future.

Nigeria. N12trn pension assets investment sidelines infrastructure
08/09/21 Federal Government’s dream of ramping up pension assets for investments into infrastructure development seems floundering as most recent report shows a stagnation in funds allocation to the sector.

US. Pandemic not stopping workers from contributing to retirement plans
08/06/21 An overwhelming majority of U.S. workers are still saving for retirement despite the adverse economic, health and employment impact of the coronavirus pandemic, the Transamerica Center for Retirement Studies said Thursday.

Uganda allows early, partial pension withdrawals to cushion economy
08/06/21 Uganda’s President Yoweri Museveni has agreed to legislation allowing some workers early access to 20% of their savings held by the state pension fund, to help them absorb the economic blow from the COVID-19 pandemic, he said.

UK pension funds urged to back investment ‘big bang’
08/05/21 Boris Johnson has called on British pension funds to plough more retirement savers’ cash into UK assets to spark an “investment big bang” to support the economic recovery.

US. Government to pilot online retirement application
08/05/21 Federal employees planning to retire may soon have the option to complete the requirements using an online system, rather than through the paper format most widely used across the U.S. government.

It’s time to give essential workers the protections they deserve
08/03/21 The world’s essential workers have kept things running during the pandemic.

Europe’s Pension Funds Still Don’t Know How to Treat a Key Risk
08/03/21 The main organization representing European pension funds says it’s still not clear how the industry should balance financial returns against a desire to do more environmental and social investing.

UK. We need more retirement products to help DC savers
07/29/21 In its first nine years, auto-enrolment’s incredible success has been built on how much people have been able to save into their pension pots.

Chileans tapped into pensions to survive the pandemic – now what?
07/28/21 Carolina Zillmann, 59, owns a small plot of land near La Serena in northern Chile. She lives by herself and takes on jobs as a landscaper to make ends meet. She also has a small cabin that she rents out for $527 to add to her monthly income.

UK. Consultation risks taking DC pension consolidation ‘too far, too fast’
07/28/21 The Department for Work and Pensions’ (DWP) most recent consultation on further consolidation in the defined contribution (DC) pension market risks taking consolidation “too far, too fast”, according to Hymans Robertson.

US. Ohio Pensioners May Hold The Key To Finally Fixing America’s Struggling Public Pensions
07/26/21 It’s no secret that America’s struggling public pensions are a hot mess. Lack of comprehensive state regulation; the failure of legislative oversight; lay boards lacking investment experience; Wall Street donations to corrupt influential politicians and law enforcement indifference, all contribute to the morass.

Ghana. GSE boss asks pension funds to boost equity holdings
07/26/21 The Ghana Stock Exchange (GSE), which is experiencing a bull market this year, provides enormous opportunities for pension funds to invest and realise good returns, Ekow Afedzie, Managing Director of the exchange, has said.

Coronavirus exposes cracks in Hongkongers’ retirement planning as health care costs and weak savings dominate worries, EIU survey finds
07/26/21 The Covid-19 pandemic has left most working adults in Hongkong fearing for their financial position and readiness for retirement, according to a survey by the Economist Intelligence Unit commissioned by HSBC Life Insurance.

India. Want to give more options to pension funds, so opening up IPO investments: PFRDA chairman
07/22/21 Pension Fund Regulatory and Development Authority (PFRDA) will soon allow pension fund managers (PFMs) to invest in initial public offerings (IPOs), follow on public offers (FPOs) and offer for sale (OFS).

US. Federal government’s rescue plan for multiemployer pensions falls flat, critics say
07/21/21 Earlier this year, Congress threw a lifeline to troubled multiemployer pension plans. But the rescue effort is getting tangled in regulations that may ultimately sink many of the retirement plans, pension experts say.
Australia. Spend your money before you die, Treasury urges retirees
07/20/21 The Morrison government wants retirees to draw down their superannuation balances before they die, and has asked super funds to develop a strategy to make it easier for members to take money out of their super in retirement.

Spain inches ahead with pension reform
07/19/21 Spain will pay workers to postpone retirement as part of a pensions reform strategy that analysts warn does not go far enough to cut a huge deficit in the system.

Fewer women than men will regain employment during the COVID-19 recovery says ILO
07/19/21 The inequalities between women and men in the world of work that have been exacerbated during the COVID-19 pandemic will persist in the near future, according to the International Labour Organization (ILO).

UK. Pension tax change proposals branded ‘tragic’ and ‘crazy’
07/16/21 On the go: Rumours that the Treasury is planning to raid pensions have been branded “tragic” and “crazy” by speakers at a Hymans Robertson webinar, who warned that any reforms harming incentives to save could undo the work put in to boost retirement standards.

How geopolitics impact global public investors
07/16/21 In the world of institutional investing, geopolitical risk has emerged as a pressing concern. While some asset owners contend that they are fully capable of analysing and managing such risk, they appear to be in the minority. 

Jamaica. Dead or alive? Pension payments continue
07/14/21 The Accountant General’s Department (AcGD) is struggling to ascertain if some of its high-risk pensioners — aged 90 and over — are actually alive as it continues to make monthly payments to them.

He runs the worst-funded public pension in the country. Here’s his ‘good news’ story
07/14/21 It’s a safe bet that many people, seeing their work described in print as “among the worst in the country,” might cringe and try to avoid the media.

France. Macron confirms he will pursue Pension Reform
07/13/21 French President Emmanuel Macron has announced a series of economic measures, looking beyond the pandemic, although the much-anticipated pensions reform will be delayed until Covid is “under control”.

US. Biden’s Pension Rescue Seen as Bigger Help for Corporate Bonds
07/13/21 U.S. President Joe Biden’s planned pension rescue could result in even more money being shunted into investment-grade corporate bonds than previously thought, according to Citigroup Inc. strategists.

Nigeria. Avoiding A Future Of Retired Destitute
07/13/21 NIGERIA’S Population has grown from 45.1 million in 1960 to the current 211.4 in 2021. By the United Nations estimates, the population grew by 2.5 per cent from its 2020 figure.

Emerging markets pushed to the sidelines for now
07/12/21 Emerging markets have become a victim of China’s success in 2020, with money managers and investors now underweight and pulling assets from equity and debt allocations as they watch and wait for better times to resume.

Australia’s Biggest Pension Fund Posts Record Annual Return
07/05/21 Australia’s biggest pension fund notched a record return in fiscal 2021 as strong market performance in the wake of the pandemic lifted assets under management.

Corporate France Urges Macron to Delay Contentious Pension Reform
07/05/21 France desperately needs pension reform, just not right away.

UK. Women’s pensions ‘would gain over £106k on average’ if new fathers did half of unpaid care work, report finds
07/02/21 Women are losing out on over £100,000 in their pension pots on average due to men not taking on an equal share of unpaid care work in the early years of child-rearing, a new report has found.

US. Public Retirement Benefits Not What They Used to Be
07/02/21 Defined benefit (DB) pension plans are a valuable benefit for employees—offering the option of guaranteed retirement income that is lacking in most defined contribution (DC) plans.

Spain. Escrivá Advances A Small Adjustment In Pensions Of The Baby Boomers
07/01/21 Escrivá advances a “small adjustment” in the pensions of the ‘baby boomers’. According to the minister, they will be able to choose between adjusting or delaying retirement. The new equity mechanism will replace the sustainability factor. Escrivá indicates that the pension reform will come into force “at the end of the year”.

Germany. Pension increase rolls out in July
07/01/21 Just in time before the grand coalition government ends for this legislative period, one of its prestige projects is reaching citizens, or more precisely pensioners.

US. Now Is The Time To Re-Think Retirement Plan Conventional Wisdom
07/01/21 Retirement plan design can make or break an employee’s ability to maintain their standard of living in retirement. Over the past several decades, many private sector companies implemented a complete overhaul in retirement plan design, shifting from defined benefit pensions to 401(k)-style defined contribution accounts.

Women and Retirement in a Post Covid-19 World
06/25/21 Women on average live longer than men and are more likely to live alone or be widowed. In spite of their greater needs, they are more likely to arrive at retirement without secure housing, to have saved less because of caring duties and lower wages, and thus to experience greatly restricted lifestyles in retirement.

US. Secure Act 2.0 Is Popular, but Not Perfect, Retirement Experts Say
06/25/21 The Secure Act 2.0 provides important benefits to help boost Americans’ retirement savings, but the huge retirement bill does have drawbacks, retirement experts told House lawmakers.

Kuwait’s $134 Billion Pension Fund Has Record Gain in Turnaround
06/24/21 Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country.

US. Pandemic Magnifies Demand for Retirement Income
06/24/21 The COVID-19 pandemic has increased demand among retirees for retirement income solutions, according to BlackRock’s annual “DC Pulse” survey, which also found that nearly half of defined contribution (DC) plan participants’ finances were negatively impacted by the pandemic.


How flexible working could affect pension savings
06/24/21 As the UK continues to ease Covid-19 lockdown restrictions and more employees return to work, the debate about the future of work goes on. If the move to more flexible arrangements continues, the impact on retirement planning could be greater than expected.

East Africa’s countries race to form inclusive, affordable pension schemes for informal sector
16/23/21 East African Community partner states are in the process of creating micro-pension schemes for employees in the informal sector to address the low pension coverage in the region, estimated at less than 10 percent.

China. Rising pension levels to ensure senior citizens have no tension
16/23/21 Seventeen provincial-level regions in China, such as Beijing, Tianjin and Shanghai, and Shaanxi, Henan, Hebei and Liaoning provinces have issued notices raising local pensions. Other regions are expected to follow suit.

Canada. New CPPIB Head Graham Says Inflation Will Stay Muted in Long Run
16/23/21 Strong demand, particularly from the U.S. consumer, may fuel higher inflation in the short term, but there is little risk of runaway price growth, according to the head of Canada’s $403 billion national pension fund.

World Bank : The costs and benefits of making pension funds a target for financial repression
16/22/21 Financial repression is not new topic, but the striking amount of new debt taken on by governments to support their economies in the wake of the COVID-19 crisis has made the issue ever more relevant.

UK Rules Out Ditching ‘Triple Lock’ Pledge on State Pension Increases
16/22/21 British newspapers have reported that the government was looking at suspending the promise to increase pensions by whichever is higher of consumer price inflation, average earnings growth, or 2.5%. They said it could help pay for the cost of the government’s COVID-19 response.

UK. State pension: Warning as ‘low’ sum leaves millions at risk of ‘inadequate’ income
06/21/21 The State Pension is made available to individuals who have put forward a set number of National Insurance contributions throughout their lifetime. Many people will have worked for decades to ensure their state pension reaches the full sum as outlined by the Department for Work and Pensions (DWP). At present, the most someone can receive through the basic state pension is £137.60 per week.


Euro area pension fund statistics: first quarter of 2021
06/21/21 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

Canada. The Public Sector Pension Investment Board Gains 18.4% in FY2021
06/18/21 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.


UK. Why investment pathways matter more than you think
06/18/21 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.

US. The Death Of Public Pension Transparency
06/17/21 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.


UK. Industry fears customers are still not getting enough support with pension withdrawals
06/17/21 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.

US. Despite Market Rebound, Rising Unemployment Hurt Public Pensions
06/17/21 Although cuts to state and local employment in response to the COVID-19 pandemic had only a minor impact on public pensions’ funded ratios, they did cause a rise in the required contribution rates, according to a recent report from the Center for Retirement Research (CRR) at Boston College.

US. Pension Worries Ease for States, Localities on Stimulus, Stocks
06/16/21 Public pensions performed better than anticipated during the pandemic, easing the financial strain on state and local governments sponsoring the plans, thanks in part to U.S. aid and stock market gains.

A preservation ‘revival’ will supercharge South Africa’s retirement outcomes
06/16/21 South Africa’s retirement outcomes will improve radically if all retirement funding contributions are kept invested when fund members change jobs.

UK. TPR secures £730m insolvency protection for Sanofi Pension Scheme
06/16/21 Sanofi’s defined benefit (DB) pension scheme has additional insolvency protection of up to £730m for 20 years, following intervention from The Pensions Regulator (TPR).

APAC pensions industry and recent trends in Japan
06/15/21 Pension assets across the largest pensions’ markets increased 11% in 2020, according to the Global Pensions Assets Study 2021 by Willis Towers Watson.

US. Lost 401(k) accounts and pensions: How lawmakers want to fix the problem
06/15/21 For workers who lose track of their 401(k) savings accounts, help may be on the way.

Impact investing grows to address problems raised by pandemic
06/14/21 Sometimes a crisis can help bring positive change. For impact investing, the COVID-19 pandemic and the inequities it exposed are boosting its outlook.

UK. Watchdog warns of imbalance in pension schemes
06/14/21 Almost two thirds of pension schemes’ liabilities of €64 billion have been accumulated to pay the pensions of the one third of members who have already retired.

Chile. Diputado Alessandri ingresó proyecto de retiro del 100% de los fondos de las AFP
06/11/21 Hasta La Moneda llegó el diputado Jorge Alessandri (UDI) para ingresar su proyecto de retiro del 100% de los fondos de pensiones, con el objetivo que los trabajadores tengan una cuenta blindada de sus ahorros.

US. Public pensions lose on hedge funds — again
06/11/21 One of these days I’m going to write about a bunch of retirees and future retirees who have just made a ton of extra money thanks to the financial brilliance of elite, exclusive, high-fee hedge funds.

GE to freeze U.K. pension plans
06/11/21 General Electric Co said on Thursday it would freeze pension benefits for about 2,700 employees in the United Kingdom from January and take a related charge.

US. Pensions Are Almost Fully Funded and Coming for Your Bonds
06/09/21 A “massive rotation” into corporate bonds from equities may be on the horizon for U.S. pension funds as they become fully funded, according to strategists at Bank of America Corp.

Pensions industry should use tech to sustain the savings boom
06/09/21 It has been a tough year for many, and experts agree that the economic fallout of 2020 has hit the self-employed particularly hard.

US. 401k Savings, Account Balances Grew During Pandemic
06/03/21 Closed restaurants and movie theaters meant more disposable income for retirement savings during the pandemic.

UK. Pensions Regulator Urges Robust Liquidity Risk Analysis
06/02/21 Trustees of retirement saving schemes have improved their understanding of the liquidity risks facing their programs, but they should be more robust when they analyze those dangers, a director at the pensions watchdog has warned.

German court rejects complaints against double taxation of pensions
05/31/21 Germany’s federal fiscal court on Monday rejected as unfounded a retired couple’s objection to their retirement benefits being double taxed.

China. ‘Third pillar’ of pension cover can help aging society
05/31/21 Two important documents－this year’s Government Work Report and the 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035－put forward that the so-called third pillar of endowment insurance will develop in a well-regulated way.

US. Market Rebound Spurs Record 33.55% Return for NY State Pension Fund
05/28/21 The New York State Common Retirement Fund (NYSCRF) reported a 33.55% investment return for the fiscal year ending March 31, the largest one-year investment return in the fund’s history. It easily beat its long-term expected rate of return of 6.8%.

UK. Covid fails to inject interest in pensions
05/27/21 The pandemic has failed to spark interest in pensions according to a survey from Canada Life.

US. One Way To Promote Financial Literacy: Teach How The Scammers Work
05/27/21 In a nation more deeply divided than ever about every conceivable issue, a broad consensus has surprisingly emerged that financial literacy is broadly lacking and the need for a financial education for every American is urgent

How Far Could Pension Funds Drive Sustainable Investing?
05/26/21 Pension funds could be a formidable force in getting companies to embrace environmental, social, and governance (ESG) values such as combating climate change or advancing employment equity. 

The Future of Public DC Programs Includes a Focus on Financial Wellness
05/26/21 There is a movement among private-sector employers to offer not just a retirement plan, but a program of benefits that addresses all aspects of employees’ finances. But employees in the public sector—including those in public defined contribution (DC) plans—need holistic financial wellness help, too.

US. New York City Pensions to Fund $250 Million Apartment Venture
05/25/21 For New York City’s pension funds, there’s no time like now to invest in new apartments.

UK. Pension fee shake-up
05/25/21 Proposals include introducing a threshold of £100 or below which a person cannot be charged a flat fee by their pensions provider, helping limit the erosion of small pot pensions and protect savers.

Bulgaria. Average Salary shows significant growth and pensions with it
05/24/21 The average salary registered over 10 percent growth year-on- year.On the other hand, the share of remuneration from work in the overall household budgets has shrunk, while the share of incomes from pensions and social benefits has grown.

UK. Top British companies forced to pump £200bn into pension schemes to prop them up, figures reveal
05/24/21 Top British companies have been forced to pump £200billion into their pension schemes to avoid a drop in funding,

UK. Regulators ask industry for help on improving pension saving
05/19/21 The City watchdog and the Pensions Regulator have teamed up to investigate how people make decisions about their pension at key points throughout their working lives, in order to better support savers through future regulation.

US. What a Year Without Retirement Savings Can Do to Participant Outcomes
05/19/21 As americans faced financial hits related to the COVID-19 pandemic, their retirement savings might have suffered. Many employees were laid off or furloughed, and the Coronavirus Aid, Relief and Economic Security (CARES) Act made it possible for retirement plan participants to tap into their savings through increased distribution and loan amounts if they needed the money to make ends meet.

Managing a Retirement Plan Doesn’t Have to Be a Headache
05/18/21 COVID-19 wreaked havoc on our economy. Customers vanished and supply lines evaporated, as employees adjusted to a new paradigm of working from home.

Chileans drain $10 bln more from pension funds as pandemic drives withdrawals
05/14/21 Chileans flocked for a third time to withdraw money from their retirement funds this week, draining nearly $10 billion from the country’s privatized pension system in a move some billed as a lifeline amid a fierce second wave of the coronavirus pandemic.

US. Biden’s $86 Billion Pension Rescue Set to Boost Corporate Bonds
05/14/21 U.S. President Joe Biden’s pension bailout might do more than just support troubled retirement plans. It could also spur tens of billions of dollars in demand for corporate bonds with the lowest investment-grade ratings, according to Citigroup Inc.

UK. Pensions Dashboard Programme publishes updated timeline with breakdown of next six months
05/14/21 The Pensions Dashboard Programme (PDP) has published an updated timeline outlining steps and timings for data providers to enable the industry to prepare for connecting with the dashboard ecosystem.

US. In Reversal, Retirements Increased During the Pandemic
05/12/21 After decades in which it decreased, the retirement rate rose during the pandemic, according to the latest government data. This makes retirement one exception to the many ways that the pandemic accelerated pre-existing trends, such as toward suburbanization and online shopping.

Kenya. Civil servants mass departure pushes pension to Sh150bn
05/12/21 Mass retirement of civil servants has pushed pension payouts to more than Sh150 billion, underlining the burden of a fast-aging public service to taxpayers on the back of delays in implementing reforms in the past.

Chicago Boys’ Free-Market Pension Model Is Unraveling in Chile
05/12/21 Chile’s privately run pension funds are in a battle for survival, reeling under the impact of billions of dollars of withdrawals as politicians and social movements attack a system once viewed as a model for the world.

US birth rate falls 4% to its lowest point ever
05/06/21 The American birth rate fell for the sixth consecutive year in 2020, with the lowest number of babies born since 1979, according to a new report.

Almost half of Swiss workers choose early retirement
05/06/21 On Tuesday, the Federal Statistical Office (FSO) reported External linkthat in 2019 between 40-50% of people started receiving their pension from their so-called second pillar before the legal retirement age – 65 for men and 64 for women.

U.S. corporate pension funding inches up in April – 3 reports
05/06/21 Funding ratios for U.S. corporate pension plans increased in April, according to reports from Wilshire Associates, Legal & General Investment Management America and Mercer.

Pension changes for South Africa under the spotlight
05/04/21 Parliament’s Standing Committee on Finance has invited interested parties to submit written submissions on the Pensions Funds Amendment Bill.

Surging Stocks Improve Pension Funding Levels, But De-Risking Isn’t at Risk
05/04/21 A strong stock market delivered the goods and then some for pension funding levels, both public and corporate, in the first quarter. But don’t expect companies to pull back from their campaign to shift into safer (if low-paying) bonds from stocks.

Japan. GPIF looks to study private equity replication
05/03/21 Japan’s Government Pension Investment Fund may be mulling changes to an alternatives investment program that’s been cautiously deliberate until now.

Biggest Pension Fund in Denmark Takes a Hit on Its Bond Exposure
04/29/21 Denmark’s biggest pension fund, ATP, lost almost $200 million on its investment portfolio after its exposure to bond markets backfired.

Pension reform throws harsh light on Irish retirement savings
04/29/21 It was fitting somehow that the biggest regulatory reform of Irish pensions was announced with no fanfare. Just a press release issued without notice at the end of the working day – after 5:30pm.

Perú. El Ejecutivo observó la norma que autorizaba acceder hasta S/ 17.600
04/28/21 El Poder Ejecutivo observó la ley que iba a permitir el retiro de hasta S/ 17,600 a los aportantes de las administradoras de fondos de pensiones (AFP) al considerar que es inconstitucional, además de que “altera y deteriora los objetivos de la seguridad social”.

Chile. Piñera derrotado en intento por bloquear retiros de AFP en Chile
04/28/21 El presidente chileno, Sebastián Piñera, promulgará un proyecto de ley que permitirá que los trabajadores retiren anticipadamente miles de millones de dólares de sus fondos de pensiones, después de que el Tribunal Constitucional desestimó su intento de bloquear la propuesta.

Chile’s president will sign into law third drawdown on pensions
04/28/21 Chilean President Sebastian Pinera on Tuesday abandoned his challenge to an opposition-led bill allowing citizens to draw down a third tranche of their pensions, saying he would sign it into law.

A Graying China May Have to Put Off Retirement. Workers Aren’t Happy.
04/28/21 For Meng Shan, a 48-year-old urban management worker in the Chinese city of Nanchang, retirement can’t come soon enough.

Latin America. What Comes After the Commodity Super Cycle and the Pandemic? Policies to Tackle Poverty and Inequality in Latin America
04/28/21 Latin America entered the pandemic as one of the most unequal regions in the world. And like much of the rest of the world, it will come out of the pandemic poorer and more unequal. Early estimates suggest that 19 million more people in the region have fallen into poverty and inequality increased by 5 percent compared to pre-crisis levels.

US. Multiple Employer Pension Plans May Need to Brace Themselves for Lawsuits
04/28/21 Multiple employer pension (MEP) plan sponsors should brace themselves as a potential target for litigation as the plans continue to emerge as a provider-based alternative to single-employer 401(k) plans, according to consulting firm October Three.

 

Chile’s Pinera counters opposition pensions withdrawal bill with own initiative
04/26/21 Chilean President Sebastian Pinera on Sunday announced the government will launch its own bill to allow citizens to draw more from their private pensions in a last-ditch attempt to kill off a similar move led by the opposition.

UK. Private sector DB disappearing ‘more rapidly than thought’
04/26/21 Private sector defined benefit schemes are closing more rapidly than realised, meaning the incomes of newly retired workers are set to fall at a much more dramatic rate in the coming decades than had previously been thought, according to consultancy LCP.

 

Senado chileno aprueba proyecto de ley sobre retiro de pensión
04/23/21 El Senado chileno informó a través de nota de prensa, que fue aprobado con 31 votos a favor y 11 en contra, el proyecto de ley donde se autoriza a los afiliados del sistema de pensiones a retirar parte de sus fondos acumulados.

Perú. Entidades financieras alistan alternativas de ahorro para compensar el retiro de CTS
04/23/21 Consultamos con protagonistas del sistema financiero para que den su primera impresión sobre la ley y el impacto que generará en sus carteras. Mario Guerrero Corzo, subgerente de Estudios Económicos de Scotiabank, comentó que el monto de CTS en el sistema financiero alcanza a S/.21,7 mil millones (2,9% PBI). Pero aún no está claro que porcentaje se retiraría.

Chile: al menos nueve detenidos tras noche de protestas por tercer retiro de pensiones de las AFP
04/23/21 Al menos nueve personas fueron detenidas en la noche de este miércoles durante las protestas contra el requerimiento que el Gobierno de Chile ha presentado ante el Tribunal Constitucional para frenar el proyecto de ley que permite retirar fondos provisionales de las Administradoras de fondos de Pensiones (AFP).

 

Chile Pension Furor Grows Over Third Round of Withdrawals
04/23/21 Chile’s senate on Thursday approved legislation allowing early pension fund withdrawals, just days after President Sebastian Pinera challenged the bill’s legality in the Constitutional Court.

Comfortable retirement still on track for most Americans despite pandemic – survey
04/23/21 The coronavirus pandemic did little to shake the retirement confidence of most American workers and retirees, according to the 2021 Retirement Confidence Survey released Thursday by the Employee Benefit Research Institute and Greenwald Research.

A $120 Billion Danish Pension Manager Loses Faith in Bonds
04/23/21 In one of the world’s best-run pension markets, the biggest commercial manager says it’s time to dump bonds.

China’s Coming Pro-Natalist Campaign
04/21/21 Birth rates in China are crashing. Last year, they fell to the lowest level since Mao Zedong founded the modern Chinese state in 1949.

UK. Retirement app Pensionbee valued at £365m in London listing
04/21/21 Online pension management app Pensionbee (PBEE.L) has joined the London Stock Exchange in an IPO that values the business at £365m ($507m).

UK. Industry tightens up on pension scams as losses hit £10bn
04/20/21 Pension schemes face tougher due diligence requirements on transfer requests as new figures show the amount lost to pension scams and fraud has hit £10 billion five years after the introduction of the pension freedoms.

US. DOL Issues Cybersecurity Best Practices for Retirement Plans
04/20/21 The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) on April 14 issued much-anticipated cybersecurity guidance for employee retirement plans. The essence of the guidance is that responsible plan fiduciaries have an obligation to ensure proper mitigation of cybersecurity risks.

A Fintech Revolution: How The Pandemic Accelerated The Adoption Of Digital Solutions
04/20/21 I don’t know about you, but I haven’t used the cash in my wallet since the onset of the lockdowns in March 2020. And I don’t miss it at all. I’ve found that the digital financial life is fast, safe and provides easy ways to track.

Asia Is Increasing Its ESG Asset Appetite
04/19/21 Sustainability funds explode onto the global financial scene, and the momentum is not stopping anytime soon.

Vanguard launches price war in UK pensions market
04/19/21 Vanguard has launched its financial advice service in the UK, charging an ‘all-inclusive’ ongoing fee of 0.79 per cent.

Fintech but make it eco-friendly.
04/19/21 Green finance has long been becoming more and more popular as the race to save our planet is increasingly important.

Four Ways Covid-19 Has Changed Retirement
04/16/21 The Covid-19 pandemic is triggering a retirement rethink for many Americans.

India. National Pension System: PFRDA to extend entry age to avail benefits
04/16/21 Senior citizens who have not yet got into the National Pension System (NPS) bandwagon may have some cause for cheer. Pension regulator PFRDA plans to soon extend the maximum entry age for availing NPS benefit to 70 years from the current 65 years, its Chairman Supratim Bandyopadhyay said on Thursday.

EU insurance regulator cracks down on unit-linked policy costs
04/14/21 Insurers face stricter rules on selling products linked to the performance of stock or bond markets, in a bid to cut high costs for consumers, the European Union’s insurance regulator said on Tuesday.

US. Florida Senate Passes Bill to Move Most State Workers to DC Plan
04/14/21 The Florida state Senate has passed a bill that would eliminate the option for nearly all new state employees to participate in a defined benefit (DB) plan, instead requiring them to join a defined contribution (DC) plan.

Zimbabwe. NSSA targets US$60 equivalent monthly pension payouts
04/14/21 The National Social Security Authority (NSSA) says it expects the minimum pension to be equivalent to US$60 by the end of the year payable at the interbank rate.

Spain. The Silent Reform Of Pensions
04/13/21  Spain has a critical and essential employment problem: high chronic unemployment and job insecurity. Both of these are amongst the key causes of an embarrassing inequality, one of the worst in Europe.

UK. Pension Superfunds: Bright Future or Flash in the Pan?
04/13/21 The Pension Superfund is an interesting development for employers and employees in the United Kingdom and is beginning to become relevant in all of Europe. Insurers have recently been given the green light to offer the superfund and several insurers are already putting this in place for their customers. 

World’s Top Pension Fund Treads Water as ESG Picks Up Pace
04/12/21 After taking over the helm of the world’s biggest pension fund in 2015, Hiromichi Mizuno helped chart a course that not just made sustainable investing big in Japan, but also raised the strategy’s global profile.

Zimbabwe. 100% payout hike, grocery vouchers for pensioners
04/12/21 Pensioners and widows are set to get a 100% increase to their monthly stipends, as well as grocery vouchers worth $3 000 from the National Social Security Authority (Nssa), NewsDay reported.

Climate change worse than pandemic: UK regulator
04/08/21 The chief executive of the UK’s Pensions Regulator believes climate change will be more catastrophic to populations’ way of life than the COVID-19 pandemic if no action is taken.


The pandemic has shown that workers in the informal economy need a safety net, too
04/08/21 The coronavirus pandemic has hit the developing world’s informal economy hard. Existing on the margins, with no access to social safety nets such as unemployment insurance and pensions, many of the 2 billion informal workers around the world were already barely keeping their heads above water before the lockdowns.

Engaging young people to tackle the pensions and climate crises
04/08/21 They may well have checked their bank accounts on their phone in the last 24 hours, but I bet they haven’t checked their pension online. Perhaps they can’t do that, even if they wanted to.

Canada pension speeds up renewables push with new sustainable energy group
04/07/21 Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will create a new investment group that focuses on sustainable energy, in a bid to boost its portfolio of renewable energy investments.

Europe’s New ESG Rules Create an Opportunity for US Investors
04/01/21 American asset managers with little connection to Europe might dismiss the European Union (EU)’s new sustainable finance regulations as irrelevant to their business. They would be mistaken to do so, however.
Latin America: A Growing Appetite for Alternative Assets
04/01/21 Preqin has launched its first Latin America-focused report. “Preqin Markets in Focus: Latin America’s Growing Appetite for Alternative Assets” explores the emerging market and trends paving the region’s future in the alternatives industry.

Canada’s Largest Federal Pension Plan Divests From US Private Prisons
03/30/21 Government pension plans provide a sense of security to millions of workers globally — allowing workers to sleep more soundly knowing they will have money to support themselves and their families. But most pensioners have no idea where their money is actually being invested.

US. Pension relief paves way for more de-risking
03/29/21 The $1.9 trillion American Rescue Plan Act signed by President Biden contains the most important changes in single employer pension funding relief rules since the introduction of the Pension Protection Act in 2006.

Chile begins debate on third pension withdrawal amid second wave of the pandemic
03/26/21 The Constitution Committee of the Chamber of Deputies will analyze five legislative initiatives, opposed by the Government and presented by parliamentarians and pro-government members, and will decide whether to merge them into a single one, since they have similar characteristics.

US. Single-Employer Plans Can Lower Target Returns to 4% and 5%
03/26/21 What can corporate allocators expect now that the pension relief bill has passed? For starters, they can target lower returns and pursue less risky investment strategies.

Pensions savings can fund Africa eco-plans
03/25/21 According to the Global Impact Investing Network (GIIN), the fastest-growing and largest category of impact investing assets under management by investment source is from pension funds and insurance companies. 

US. 82% say Covid affected their retirement plans
03/24/21 A year after the Covid-19 pandemic first ravaged the world’s societies and economies, more than 80% of Americans say the events of the past year have affected their retirement plans, according to a new study from Fidelity Investments.

Cryptocurrency called next great investing opportunity
03/24/21 While the U.S. Securities and Exchange Commission has yet to weigh in on the March 1 filing from Cboe BZX Exchange to approve listing and trading of the VanEck Bitcoin Trust, the weight of the water behind the regulatory dam appears so great at this point that le deluge is inevitable.

Australia. Pensions Giant Says Treasury Yields at 3% Will Change Everything
03/24/21 If there’s one core view at the heart of the investment strategy at Australia’s biggest pension fund, it’s that yields still have a long way to rise.

Exclusive Coverage: CIOs Assess How Pension Fund Investors Can Be Successful After COVID-19
03/24/21 Strong governance, flexibility over benefit structures, clever investment strategies, and maintaining savvy relations with investment trustees are among the best practices that can help pension funds do well in the post-pandemic era.

Sweden wants to tax pensioners in Portugal
03/24/21 Swedish Parliament is set to vote on unilaterally ending an agreement with Portugal to not tax citizens receiving their pensioners here

ESG Disclosure Rules From Europe Challenge U.S. Fund Managers
03/23/21 Scores of U.S. fund managers are being forced to comply with sweeping new European rules on climate and other sustainable-finance issues, requiring them to disclose the potential harm their investments could do to the environment and society.

UK. Pensions dashboard roll-out in 2023 ‘under threat’
03/23/21 The target date of 2023 for the roll-out of the pensions dashboards is under threat from a lack of clarity, the Society of Pension Professionals has warned.

Lessons defined benefit plans can learn from last year
03/23/21 The 2020 funded status of the 100 largest corporate defined benefit (DB) plans by assets rose only slightly as double-digit equity returns were offset by a decline to record-low discount rates, according to a proprietary analysis conducted by J.P. Morgan Asset Management.

US. Small employers have new federal incentives to offer worker retirement benefits
03/23/21 There has been a dizzying array of major legislative programs passed by Congress over the last few years that have impacted small and midsize businesses, particularly in response to the coronavirus pandemic.

UK. PensionBee cuts gender pay gap to 4%
03/23/21 PensionBee has reduced its median hourly gender pay gap to 4 per cent, in line with its aim of achieving equality with a variance of 5 per cent permitted due to the overall size of the employee base.

US. Covid-19 Makes Racial And Class Status Longevity Gaps Worse
03/22/21 Everyone knows the poor die sooner than the rich. Some humans can live past 90, but many don’t have access to the health and wealth that lets humans live a normal human life span.

UK. Emerging passive investing risks a new concern
03/22/21 Investment consultants around the globe are asking their pension fund clients to think carefully about two very real concerns that have emerged in passive investing: ESG-related and concentration risks.

Colombia govt presents capital markets bill
03/22/21 The government of center-right Colombian President Iván Duque has presented a capital markets bill.

UK. Pension longevity risk transfers reach record-breaking £55.8bn in 2020
03/19/21 Longevity risk transfers by UK pension schemes reached a record level of £55.8bn in 2020, rising above the £51.6bn completed the year before, analysis from LCP and Mercer has shown.

US. $35 Trillion in Retirement Savings Tells a Tale of Two Economies
03/19/21 New data published by the Investment Company Institute (ICI) shows total U.S. retirement assets grew to $34.9 trillion as of December 31, which is up 7.5% from the end of the third quarter of the year and up 9.3% overall for last year.

Kenya: Former Telkom Workers Wallow in Poverty As Pension Scheme Holds On to Payout
03/18/21 On a bright Wednesday morning, Agnes Ouma sits on a blue plastic chair outside her neighbour’s house, in Jamhuri estate on Ngong road.

U.K. Pensions Regulator seeks to streamline codes of practice
03/18/21 The U.K. Pensions Regulator is consulting the retirement industry on its proposal to create a new online-based code of practice, the regulator said Wednesday.

Too much, or not enough: the risks of drawdown
03/18/21 For many people approaching retirement, there is a sense of dread when it comes to navigating the rules about accessing their pensions.

Uber Grants Vacation Pay, Pensions to U.K. Drivers in Change of Job Status
03/17/21 Uber Technologies Inc. said it will grant its U.K. drivers an employment status entitling them to vacation pay and pension contributions, a costly shift in one of its largest overseas markets amid a global debate over the treatment of gig-economy workers.

Virus exacts toll on women’s retirement savings, workplace diversity efforts – panel
03/17/21 The issues facing women in saving for retirement dominated discussions at Pensions & Investments’ Defined Contribution Spring Virtual Series held March 8-11.

What Is The Pension Provision In The Stimulus Package? An Explainer
03/17/21 Included in the $1.9 trillion stimulus bill signed by President Biden on Thursday is an $86 billion aid package for participants of about 185 to over 300 employer-union pension plans.

US. House Passes $1.9 Trillion Covid-19 Stimulus Package; Biden Plans to Sign Friday — Update
03/11/21 The House passed a $1.9 trillion coronavirus-relief bill and sent it to President Biden for his signature, with Democrats muscling an expansive round of new spending and antipoverty measures through Congress just as America begins to emerge from a year of pandemic-related shutdowns.

Responsible investing in different cultural contexts – Latin America
03/11/21 Last week, we began with an investigation of how different geographies are engaged in Responsible Investment and Sustainable Finance practice. We kicked off with Europe and North America and today we continue with this series, focusing on Latin America before moving on to Africa and then ending with Asia Pacific.

India. NPS Scheme: PFRDA empowers National Pension System subscribers by offering this facility – Check benefits
03/11/21 NPS Scheme: The National Pension System (NPS) subscribers have been given Immediate Payment System (IMPS) facility enabling them with an instant money transfer from their bank account to their NPS account. This will help them avail of the benefit of the same day investment provided by the NPS contributions.

Nigeria. PenCom Approves N5.33bn as More Contributors Withdraw Pension Funds
03/10/21 Pension Fund Administrators(PFA) are under stress as a result of continuous demands for withdrawals by contributors into the Contributory Pension Scheme.

Puerto Rico debt-restructuring plan filed amid criticism
03/10/21 A framework that outlines how Puerto Rico will restructure at least $35 billion in public debt and more than $50 billion in public pension liabilities threatens a 10% cut to certain public pensions if no agreement is reached with retirees.

Australia. Age Pension increase for mid March
03/10/21 This announcement follows the Royal Commission into Aged Care Quality and Safety’s Final Report, tabled into Parliament on 26 February 2021, which outlined the necessary changes needed in the aged care sector

Many over-55s could be heading for retirement income shortfall, says survey
03/10/21 Many over-55s who are approaching retirement risk exhausting their pension savings early, a survey suggests.

Banks, pensions, and sovereign funds fail to achieve gender balance, finds OMFIF
03/09/21 Less than 1 per cent of central banks, sovereign funds, public pension funds and commercial banks have achieved gender balance within their workforces, according to a comprehensive survey by Official Monetary and Financial Institutions Forum (OMFIF).

Pension challenges women face will impact on their retirement
03/09/21 March 8 marks International Women’s Day and celebrates the social, economic, cultural and political achievements of women.

Ghana. Low financial literacy responsible for low patronage of pensions by women and informal workers
03/09/21 A Compliance officer with the National Pensions Regulatory Authority (NPRA) says low financial literacy is the cause of low patronage of the pension scheme among women and people in the informal sector.

Why SFDR is a gamechanger for the ESG landscape03/09/21 Requirements emanating from the EU’s Sustainable Finance Disclosure Regulation (SFDR), which are broad in scope, impacting not only asset managers but also other financial market participants including the likes of insurers, pension providers, as well as qualifying venture capital and social entrepreneurship managers. Julian Ide explains the significance of the SFDR

Taking a workforce break to raise children hurts retirement savings – economist
03/09/21 Taking time off from the workforce to take care of children can put a serious dent in workers’ long-term retirement savings.

ClearGlass Analytics: UK fintech that aims to disrupt pensions world picks up £2.6M
03/08/21 ClearGlass Analytics, a digital intermediary between asset managers and pension funds, has closed a £2.6 million funding.

UK. Women would have to work 40 years longer to close the gap.
03/08/21  Mothers face more insecure and lower-paid work after having children, official figures suggest.

OECD proposes revision of its DC ‘good design’ roadmap
03/05/21 The Organization for Economic Cooperation and Development wants public input on a new roadmap for good design in defined contribution plans.

Chile pension reform: The big bone of contention hampering progress
03/05/21 The Chilean government has amended its pension reform proposals.

Fraudsters prey on the fears of China’s aging population.
03/04/21 Shady retirement home and investment schemes have cheated China’s rapidly aging population out of hundreds of millions of dollars, spurring more than a thousand criminal cases in recent years.

UK Budget: Sunak freezes lifetime allowance for pensions contributions
03/04/21 Britain’s finance minister, Rishi Sunak, has frozen the lifetime allowance (LTA) for pension contributions at just over £1m for the remainder of this Parliament, and will be keeping IHT at the current level for a further five years.

South Africa. The battle for pension savings: Between secure retirement and survival
03/03/21 The retirement savings industry keenly follows Finance Minister Tito Mboweni’s speech every year, if not for anything else, to advise savers how to maximise their tax benefits when tax rates and bracket adjustments are announced.

US. Pandemic Prompts Many to Take More Notice of Retirement Plan
03/03/21 Major retirement plan recordkeepers have found that the COVID-19 pandemic prompted many Americans to take better stock of their retirement and emergency savings. Many even increased their 401(k) contributions, and only a small percentage took out a coronavirus-related distribution (CRD).

US. Pension Relief Plan in COVID-19 Stimulus Bill That Passes House
03/02/21 On Saturday, a measure to give troubled multiemployer pension plans assistance from the Pension Benefit Guaranty Corporation (PBGC) passed the House of Representatives, as part of a larger $1.9 trillion coronavirus relief package from President Joe Biden.

Covid-19 Is Most Certainly A Retirement Story
03/02/21 The Covid-19 recession, like all recessions, threatens the wealth and retirement security of millions of workers. Job loss prompts people to stop saving, raid their nest eggs or go into debt by falling behind on their rent and mortgage payments.

Canada. Pensions seek clear strategies, lower costs through in-house management
03/02/21 Canadian pension funds are shifting asset management in-house, new research from CIBC Mellon says, and managers want lower fees and greater transparency on funds managed externally.

‘Markets Are Wrong’: $2 Trillion of Pension Funds Skip Bond Rout
03/01/21 As interest-rate jitters supercharged a meltdown in the world’s biggest bond market, Sam Sicilia barely blinked.

China’s aging population is a bigger challenge than its ‘one-child’ policy, economists say
03/01/21 China’s decades-old one-child policy gained renewed attention in the last few weeks, after authorities gave mixed signals on whether they were closer to abolishing limits on how many children people can have.

UK. Pension risk settlements reached record high of over £54bn in 2020
03/01/21 The UK pension scheme risk settlement market hit a new record-high figure of over £54bn in 2020, and 2021 could be even bigger, according to analysis from Aon.

Latin American Sovereigns Are at a Pension Reform Crossroads
02/26/21 Fitch Ratings-London/New York-25 February 2021: Fiscal challenges and social grievances are adding urgency to a new wave of pension reforms in Latin America that could be relevant for sovereign ratings, Fitch Ratings says in a new report.

US. With lower returns on the horizon, public pensions will turn to riskier assets, Moody’s says
02/26/21 State and local government pension systems are increasingly dependent on investment returns, and at risk of increasingly volatile results, as funding levels remain depressed and systems increasingly start to pay out more than they take in, according to a new report from Moody’s.

Protecting people working through platforms: Commission launches a first-stage consultation of the social partners
02/26/21 Today, the Commission launches the first-stage consultation of European social partners on how to improve the working conditions for people working through digital labour platforms. Platform work is developing rapidly in the EU across a growing number of business sectors.

Emerging Europe strong on women’s economic opportunities but dragged down by low pensions
02/25/21 Countries from the emerging Europe region performed well on the latest global survey of women’s economic opportunities from the World Bank.

Is COVID-19 a preview of what retirement will be like?
02/25/21 The pandemic has given many folks a taste of what retirement could be like. An abrupt end to work. A loss of social connection. Trying to make ends meet on a much lower income. Many haven’t been happy with the experience.

UK pension fund fossil fuel investments laid bare
02/25/21 Despite more than 75% of the UK’s local councils declaring a climate emergency, their pension funds are still pouring billions into fossil fuels the world over.

Take-home pay in South Africa falls due to COVID-19 lockdown
02/24/21 The average take-home pay in South Africa has declined compared with the same period last year as businesses struggle to cope under national lockdown rules.

Italy. Pension funds pull positive returns in 2020 despite pandemic
02/24/21 The pension fund for management staff of oil and gas company ENI has recorded positive results for all its investment options last year. 

S.Korea’s state-run pension fund posts 9.7% return in 2020 – health ministry
02/24/21 South Korea’s state-run pension fund posted a provisional annual return rate of 9.7% in 2020, Health Minister Kwon Deok-cheol said on Wednesday, as the COVID-19 pandemic drove volatility in global financial markets.

US. Women’s Retirement Savings Especially Affected by the Pandemic
02/24/21 The pandemic has aggravated financial insecurity for millions of American workers, but data shows it’s affected women more severely than men.

British Airways defers £450m of pension payments as Covid cuts flights
02/23/21 British Airways has struck a deal to delay £450m of pension deficit contributions as the company struggles through Covid travel restrictions that have left most of its planes grounded during the pandemic.

Jamaica. $81 Million To Support Social Protection Strategy Project
02/23/21 A sum of $81 million has been allocated in the 2021/22 Estimates of Expenditure, currently before the House of Representatives, towards the continuation of the Integrated Support to the Jamaica Social Protection Strategy project.

US. 3 Retirement Myths, Debunked: Social Security, The Stock Market And Savings
02/23/21 Retirement should inspire thoughts of mixed drinks on the beach and long afternoons with the grandkids. But for many people, just mentioning the word spurs anxiety.

Forget bitcoin — fintech is the ‘real Covid-19 story,’ JPMorgan says
02/23/21 Bitcoin is an “economic side show” and fintech innovation is the story that will dominate financial services, according to JPMorgan.

U.S. Retirement Crisis Hits Black Americans Hard
02/22/21 Kimberly Owens doesn’t know if retirement will ever be a reality for her. A well-educated project coordinator in her late 40s, she has pulled from her retirement funds for emergencies twice in 20 years. Her 401(k) balance is in the low-five figures.

Albania. Deficit in State Pension Scheme Deepening
02/22/21 The decit in the state pension scheme reached Dollar 506 million at the end of 2020, reaching the highest level since the start of the implementation of the new reform in this area.

Rwanda: ‘Rising Cost of Living’ Worries Pensioners
02/22/21 Pensioners have appealed for a rise in pension benefits, citing the rising cost of living.

Underfunded and Under Pressure, U.S. Pensions to Keep Investing in China
02/19/21 U.S. state pension funds that invested in Ant Group Co. were stung when the financial technology firm’s initial public offering was suddenly pulled on orders of China’s president. But few of these investors are swearing off Chinese private markets, where they still hope to reap big returns.

The ongoing sustainability journey for UK pension schemes
02/19/21 With over £1.3trillion of investments held in the occupational pension arrangements of over 24 million of its citizens, it’s easy to see why pension schemes are an essential part of the UK government’s drive to net-zero.

Ten degrees of sustainability
02/18/21 In November, when COP26 takes place in Glasgow, the eyes of the world will be looking at what progress the UK has made towards delivering sustainability targets to support net zero and the tackling of climate change.

US Corporate Pension Funded Ratio Climbs to 89.8% in January
02/18/21 The funded ratio of the 100 largest corporate defined benefit (DB) pension plans improved to 89.8% at the end of January from 88.1% at the end of December as their aggregate deficit fell below $200 billion for the first time in more than a year, according to consulting firm Milliman.

International retirement, savings plans grow in popularity
02/18/21 International retirement and savings plans for participants working outside their home country have continued to grow in popularity around the globe, with assets increasing 8.9% in 2020 to $17.2 billion.

ESG-Conscious Money Managers Are Pension Funds’ Top Consideration
02/17/21 Pension funds and insurers are now looking for more socially responsible money managers.

Canadian Pensions Adapt Investment Strategies for Post-COVID-19 World
02/17/21 Canadian pension funds are adapting their investment strategies for a post-COVID-19 world by shifting their investments away from infrastructure to private equity, and by moving more of their asset management in-house, according to a new report from CIBC Mellon.

US. To Plug a Pension Gap, This City Rented Its Streets. To Itself.
02/17/21 The City of Tucson, Ariz., decided last year to pay rent on five golf courses and a zoo — to itself. In California, West Covina agreed to pay rent on its own streets. And in Flagstaff, Ariz., a new lease agreement covers libraries, fire stations and even City Hall.

Global retirement assets to GDP ratio hits record 80% in 2020
02/16/21 Total assets in the 22 largest major retirement markets reached a record 80% of GDP in 2020, up 11.2 percentage points for the year.

​EC’s sustainable governance play: Asset owners wary of potential snags
02/16/21 The idea of drawing up EU rules to ensure companies embed sustainability into the way they operate has met with steady applause from pensions and asset management industry representatives – as well as warnings of potential unintended consequences.

UK. Govt urged to conclude net pay review in Spring Budget
02/12/21 The government should support the retirement incomes of lower paid workers by concluding the net pay review in this year’s budget, according to Now Pensions.

Ireland. Pensions timebomb waiting to go off unless we take action now
02/12/21 As we battle our way through the Covid-19 pandemic the Government has had to deal with an extraordinary crisis with no advance warning or time for preparation. However, there is another major issue that has been gathering pace for some time and which also affects everyone in this country – and that is the “pension crisis”.

U.S. Signals Policy Shift on California State Retirement-Savings Program
02/12/21 Signaling a shift in retirement policy, the U.S. Labor Department has dropped its support for a lawsuit that seeks to invalidate a California state retirement-savings program for people who lack access to 401(k) plans at work.

Ageing can be cured—and, in part, it soon will be
02/12/21 ld age is a massacre,” wrote Philip Roth, long before the pandemic underscored its hazards. Even those who count as young must often watch the ineluctable drift of loved ones into decrepitude. Andrew Steele has a hopeful message for all those facing this prospect (ie, everyone). Old age needn’t be a massacre; in fact, old age needn’t even be old.

Danish pension giant ATP makes first investment in social bonds
02/12/21 Denmark’s ATP, one of the first pension funds globally to buy green bonds, has made its first investments in so-called social bonds as part of its sustainable portfolio, it said on Thursday.

US. House Includes Pension Reform Plan in COVID-19 Relief Bill
02/12/21 The House Ways and Means Committee has included a pension reform provision in a COVID-19 relief bill that would create a special financial assistance program to help multiemployer pension plans and extend amortization periods for single-employer plans.

UK roundup: £1trn of DB pension risk to be insured by 2031, says Hymans
02/12/21 Recent analysis by Hymans Robertson shows that £1trn (€1.13trn) of risk from defined benefit (DB) pension schemes is expected to have been insured by the end of 2031.

India. Will WhatsApp Thrive In Micro-Pension Space, A Road Not Taken By Indian Fintech?
02/11/21 WhatsApp is on its way to rolling out micro-pension products for the Indian masses

Ireland. State pension liabilities rising 10% a year, CSO study finds
02/11/21 State pension liabilities are rising at a rate of 10 per cent a year, according to the latest study of Ireland’s pensions, which says pension schemes across the State have total liabilities of €607.9 billion.

Puerto Rico Board Strikes Tentative Debt Deal With Creditors
02/11/21 Puerto Rico’s financial oversight board reached a tentative agreement with investors on how to reduce $18 billion of bond debt and is seeking additional time to file a formal adjustment plan to the court.

China. Green finance gets newfound incentivization
02/10/21 China will make it easier for international investors to access the country’s green finance market by promoting the harmonization of domestic and global green standards as part of its efforts to achieve net-zero emissions by 2060, central bank officials said on Tuesday.

Dutch pensions federation wants auto-enrolment for self-employed
02/10/21 The new pensions law proposed by the Dutch government provides insufficient room for pension funds to cater for self-employed workers, the Dutch branch organisation of pension funds, Pensioenfederatie, has warned. It has called for a “significant change” to the draft legislation, including the option of auto-enrolment.

Peru court scraps law allowing withdrawals from state-run pension system
02/05/21 Peru’s Constitutional Court on Thursday tossed out a law that would have allowed the partial withdraw of savings by citizens enrolled with state pension fund, a measure that had prompted fierce opposition from interim President Francisco Sagasti.

Latvian pensioners most at-risk of poverty in European Union
02/05/20 Latvian pensioners are the most at risk of suffering poverty among all European Union member states, according to data published by Eurostat February 3.

Asia needs pension reforms for sustainable growth
08/02/21 ASIA is in a good starting position to thrive during the 2020s as it weathered the pandemic crisis in relatively good shape.

US. Public Pensions and the COVID-19 Fiscal Dilemma
07/07/20 The COVID-19 pandemic has crushed the world economy, yet global stock markets have recovered much of their March sell-off. For pension funds, stock portfolios are trading close to the levels of 12 months ago.

 

Greece. Main and auxiliary pensions to be paid together
07/07/20 Starting next month, Greek pensioner will be receiving their main and auxiliary pensions at the same time, Labor and Social Security Minister Yiannis Vroutsis told Skai TV on Saturday, adding that more changes to improve the pensions and the social security system are in the pipeline.

 

Canada. Department of Finance Announces Additional Relief Measures Amidst the COVID-19 Pandemic
07/07/20 The Department of Finance announced the release of proposed amendments to the Income Tax Regulations (Canada) that would assist registered pension plan (RPP) administrators and sponsors to manage and maintain their benefit obligations through the COVID-19 pandemic.

 

The coronavirus crisis is pushing 13 UK universities towards insolvency, study says
07/07/20 Thirteen universities, or colleges, in the U.K. are at risk of going bankrupt as the coronavirus pandemic hits their finances and challenges the entire sector, a study by Institute for Fiscal Studies warned Monday.

 

Nigeria. Edo govt spends N25bn on pension, clears arrears with N4.3bn
07/06/20 The Edo State Government has expended over N4.3 billion in clearing the backlog of outstanding pension arrears owed about 3,128 pensioners in the state.

 

US. States Take Aim at People With No Retirement Plan
07/06/20 Don’t have a retirement plan? You aren’t alone. But the state you live in might be working on solving that problem.

 

World’s Largest Pension Fund Loses $165 Billion in Worst Quarter
07/03/20 The world’s biggest pension fund posted a record loss in the first three months of 2020 after the coronavirus pandemic sparked a global market rout in the period. Japan’s Government Pension Investment Fund lost 11%, or 17.7 trillion yen ($164.7 billion), in the three months ended March, it said in Tokyo on Friday.

 

Morocco to extend social protection to 2.5 million handicraftsmen
07/02/20 Some 2.5 million handicraftsmen and their dependents will finally have access to social protection after the government approved a law to enlist them in the private sector pension fund CNSS.

 

US. Manager of $240 billion pension fund says the market is absurd – he’s selling stocks
07/02/20 The manager of one of the country’s biggest pension funds said Wednesday that he wants to be underweight in stocks for the rest of the year because of the massive swing in markets so far in 2020.

 

Australian regulator imposes new conditions on Suncorp, CBA pension arms
07/02/20 Australia’s prudential regulator said on Thursday said it has imposed new licensing conditions on the pension units of Commonwealth Bank of Australia and Suncorp Group following directions by a government-ordered enquiry.

 

UK. Regulator to focus on protecting savers amid Covid 
06/30/20 The Pensions Regulator has said it will prioritise protecting savers during the coronavirus pandemic, as well as schemes continue to deliver benefits. 

 

WeBank, Huawei and KPMG Share Insights on Fighting COVID – 19 with FinTech
06/30/20 As part of their efforts to promote fintech solutions in the post-pandemic era, the Financial Services Blockchain Consortium Shenzhen (FISCO), Singapore FinTech Association, FinTech Association of Hong Kong and Shenzhen FinTech Association organized the “Financial Digitalization & Fintech Evolution in the Wake of COVID-19” webinar on June 23.

 

Raiding the pot: how the pandemic has deepened the pensions crisis 
06/29/20 The arrival of coronavirus in Australia in March left Marie Piggo struggling to put food on the table 

 

US. Coronavirus puts company match under pressure
06/29/20 For the employers that suspended or reduced their matches in defined contribution plans, the coronavirus — which caused the economic havoc leading to cost-cutting — also looms over their efforts to reinstate these benefits.

 

Changes To Social Security Insurance In China 
06/29/20 China has updated their social security insurance policies with some noteworthy changes. 

 

Pension funds expect more focused passive approach
06/24/20 The current COVID-19 downturn and maturation of traditional indexed investments is pushing pension fund investors to consider more focused passive investments. This “theme investing,” as it is referred to in a recent study from DWS and CREATE-Research, should gain traction as investors look to invest passively, albeit more selectively.

 

Milliman analysis: Estimated cost of retiree pension risk transfer drops significantly, from 105.5% to 103.9% in May 
06/24/20 Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. 

 

European Parliament Approves CRR “Quick Fix” to Mitigate Economic Consequences of COVID-19
06/23/20 The measures grant relief for EU banks to enhance bank lending to companies and households.On 18 June 2020, the European Parliament approved the so-called CRR “quick fix” to Regulation (EU) 575/2013 (Capital Requirement Regulation (CRR)) and Regulation 2019/876 (Capital Requirement Regulation 2 (CRR2)) to mitigate the economic consequences of COVID-19.

 

How COVID-19 is impacting Nigeria’s pensions industry 
06/23/20 Monthly data from Nigeria’s pensions industry shows that the country’s total pension fund assets stood at 10.6 trillion naira as at April this year with Federal Government Securities weighing 66.25 per cent of the total pension fund assets.  

 

COVID19 impact on the pension risk transfer market
06/23/20 This has had a compounding impact on the premium rates insurers charge for BPA policies.The strong demand from trustees and sponsors of pension schemes to purchase BPAs during 2019 gave insurers a strong negotiating hand to choose which counterparties they would engage with. Consequently, insurers’ focus has gravitated towards larger transactions (where the prize was worth the risk of being unsuccessful).

 

Impact of COVID-19 on the FinTech Industry 
06/23/20 In a matter of months, the COVID-19 pandemic has forever changed our world. What started as a global standstill is quickly turning into a race to adapt as new data pours in, and we get a better vision of our new reality. With global productivity still in recovery, we are facing an unprecedented economic downturn that will impact the financial stability of individuals and businesses for months and even years to come. 

 

India. Govt may restrict foreign investment in pension funds
06/22/20 Amid LAC tension, the Finance Ministry has proposed restrictions on pension fund investments from any bordering country. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority is capped at 49 per cent under the automatic route.

 

Lawmakers Offer Help to Japanese Banks Battling Fintech Firms
06/22/20 Japanese ruling-party lawmakers are looking to make it easier for banks to expand into different industries, a step that could help traditional lenders push back against tech rivals.

 

UK. Coronavirus: Why the pension triple lock is back in the spotlight 06/19/20 At present, the state pension increases each year in line with the rising cost of living seen in the CPI measure of inflation, increasing average wages, or 2.5%, whichever of those three is highest. 

 

Boris Johnson Has ‘No Plans’ to Scrap Key U.K. Pension Pledge
06/18/20 British Prime Minister Boris Johnson has “no plans” to abolish a politically sensitive election pledge he made to the U.K.’s pensioners, despite fears among government officials that the policy could be at risk in the pandemic fallout.

 

Covid-19 pandemic: Africa is outperfoming the rest of the world 
06/18/20 Obscured by the myriad stories of coronavirus global devastation are three headlines from the continent with no shortage of epidemics, man-made and natural disasters. That would be Africa. Of its 54 countries, six are among the top 10 fastest-growing economies in the world this year.  

 

US. Trump SEC Chairman Urges 401ks To Gamble Away Coronavirus Losses 06/18/20 Trump SEC Chairman Jay Clayton urges 401k plan sponsors and investors to gamble on private equity funds as a means of recovering coronavirus losses. Since when is it the job of the Chairman of the world’s premier securities regulator to encourage reckless risk-taking by American workers already reeling from pandemic losses?

 

UK. Sustainable Investment And The Race to Zero Emissions During The Covid-19 Pandemic 
06/17/20 The coronavirus disease (COVID-19) threw the world’s health, economic and financial systems into disarray, but the pandemic did little to distract the U.K. from the climate crisis. A recent survey by Ipsos shows two-thirds of Britons consider climate change to be as serious as the pandemic, and the majority support a green economic recovery. 

 

UK. Pensions triple lock at risk from Covid-19 fallout
06/17/20 Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could soon become unaffordable because of the fallout from the coronavirus crisis.

 

The future of aging in the US 
06/16/20 What does the future of aging in America look like? For answers, every year we ask some of our newest Influencers in Aging to offer their views at the American Society on Aging’s Aging in America conference. 

 

Top US pension fund aims to juice returns via $80bn leverage plan
06/15/20 Calpers is to move deeper into private equity and private debt by adopting a bold leverage strategy that the $395bn Californian public sector pension fund believes will help it achieve its ambitious 7 per cent rate of return. In a presentation to the Calpers board, Ben Meng, chief investment officer, said the giant fund would take on additional leverage via borrowings and financial instruments such as equity futures.

 

World’s Worst Stock Market Risks More Pain From Pension Selling 
06/12/20 The world’s worst-performing stock market this year is at risk of an even steeper drop from a proposal to let Colombians tap pension savings during the coronavirus crisis. 

 

9.5 Million Americans Are Raiding Retirement Accounts Amid Covid-19 06/11/20 The Covid-19 pandemic has crippled economies all around the world. From healthcare disasters to black swan financial events, it has been quite some time since the future has seemed so bleak. According to a story originally published by CNBC, this widespread financial strife has caused more than one in four Americans to raid their retirement savings.

 

Virus Exposes ‘Systemic Risk’ in Australia Pensions Industry 
06/11/20 The coronavirus crisis has exposed structural weaknesses in Australia’s retirement savings system and shown the urgent need for the pensions industry to consolidate, according to the government. 

 

Colombia may allow partial withdrawals from pensions during crisis
06/11/20 Colombia’s government could allow people to make partial withdrawals from their pension funds during the economic crisis caused by measures to halt the spread of coronavirus, finance minister Alberto Carrasquilla said on Wednesday.

 

World economy to contract at least 6% in 2020: OECD 
06/10/20 The global economy will contract at least six percent this year, with the unprecedented loss of income and "extraordinary uncertainty" caused by measures to contain the coronavirus outbreak, the OECD said Wednesday. 

 

U.K. deficits rise as coronavirus continues to hit markets
06/10/20 The total deficit of U.K. defined benefit funds covered by the Pension Protection Fund’s 7800 index worsened 37% in May to £176.3 billion ($217.6 billion).

 

US. Pandemic creates pension plan tension: Take the lump sum or trust lifetime payments 
06/09/2020 One of the risks that comes with pension plans may be looming larger than usual.As many companies work to regain their financial footing in the midst of continuing economic uncertainty caused by the coronavirus pandemic, a retiring worker’s decision to take either a lump sum or lifetime payments from their pension could boil down to one factor: whether they think the employer will be able to meet its long-term commitments. 

 

US. The Reason COVID-19 Might Destroy 22% of Workers’ Retirement
06/08/2020 Ever since U.S. cases of COVID-19 started multiplying back in March, the economy has been in shambles. Millions of workers have lost their jobs, while countless small businesses have closed their doors, perhaps forever.

 

US. Why you may wind up relying more on social security in retirement than you expect to 
06/08/2020 The median amount that U.S. workers have saved for retirement is just $50,000, according to a recent report from the Transamerica Center for Retirement Studies. Even among baby boomers -- the generation that is currently in the midst of retiring -- the median worker only has about $144,000 socked away. For many, that amount of money likely will be depleted after just a few years in retirement. 

 

South Africa. Investors could be hit by uneven stock markets
06/05/20 Investors could be hit by uneven global stock markets. The waring comes as stock markets around the world extend their remarkable rallies despite a continuing global public health emergency, economic downturns and financial upheaval, political uncertainty and widespread social unrest.

 

U.S. clears private equity as investment option for retirement plans 05/04/20 The U.S. Department of Labor issued guidance on Wednesday that allows private equity investments to be offered to U.S. retirement plans as part of diversified investment funds, a move that the leveraged buyout industry has long called for. 

 

UK. Covid-19: pension scheme guidance
05/04/20 The new guide is relevant to private sector occupational defined benefit (DB) and defined contribution (DC) trust-based pension schemes in the UK, including hybrid schemes and DC master trusts, applying the pensions SORP.

 

"The COVID-19 crisis is an opportunity to reimagine human mobility" 05/04/20 COVID-19 continues to devastate lives and livelihoods around the globe — hitting the most vulnerable the hardest. 

 

Coronavirus impact improves sustainability of Spanish pension system 06/03/20 Spain saw a rare improvement in the long-term sustainability of its pension system in May, but the data gave no cause for celebration because it was mainly the result of the coronavirus crisis and increased deaths among the elderly.

 

COVID-19 shows super is failing older Australians 
06/03/20 An inter-generational war began last week when retiree groups floated the idea of a universal pension. By scrapping the means test, anyone aged over 66 could then receive $472 per week, regardless of their assets. 

 

Pandemic Shines a New Light on Climate Change and ESG Investing
06/02/20 Scientists and environmentalists have reported a drop in daily carbon dioxide emissions as a result of the pandemic, and the connection between the pandemic and its effect on climate change has spurred plan sponsors and companies to support environmental, social and governance (ESG) investing, says Matt Seymour, chief executive officer at RiskFirst. “The pandemic is really going to emphasize the rationale and need for people to look at ESG investments in an integrated and fundamental way,” he notes.

 

US pension plans warned they will run out of money by 2028 
06/01/20 The weak financial condition of seven US public pension plans threatens to deplete their assets by 2028, leading to severe risks for the living standards of thousands of American employees and retired workers. 

 

China to raise pensions, among other social protection measures to reduce impact of COVID-19 crisis
05/29/20 Beijing, May 28 (PTI) China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said on Thursday.

 

Pension Fund Managers dump Nigerian Treasury Bills 
05/29/20 Analysis of the recently released summary of Pension Fund Asset data for the first two months of 2020 by the Pension Commission of Nigeria has shown that pension fund managers are no longer in love with Treasury Bills like they used to be in the past. 

 

The Game of Pension Risk Transfers Continues
05/28/20 fsi Many employers with defined benefit pension plans would love to put responsibility for the plans in the hands of a life insurer, by buying a large group annuity contract.

 

Will COVID-19 usher in a 'new normal' in pensions?  
05/28/20  Or will it accelerate trends that were already evident before the crisis? Some sectors and industries will see entirely new ways of working. This is unlikely to apply in pensions. Instead, our view is that the COVID-19 crisis will lead to an 'accelerated normal'. 

 

Bitwage and Gemini Partner to Launch Bitcoin-Based Retirement Plan for Employees
05/28/20 Cryptocurrency payroll service Bitwage has announced the launch of a Bitcoin 401 (k) plan, allowing companies to give their employees a BTC-based retirement plan.

 

South Africa. Odds stacked against investment industry as Covid-19 hits pension contributions 
05/27/20 The investment industry could face one of its toughest years to date in 2020 as people are losing their jobs and cashing out their pensions to survive, while companies are giving those who remain employed options to save less for retirement. 

 

Spain: Pension Payouts And Registrations Fall After Coronavirus Crisis Hits Elderly
05/27/20 The coronavirus crisis has triggered an historical drop in the number of state pensions paid out in Spain in May, in part because of two months of high mortality caused by coronavirus.

 

The Future Of Fintech: The New Normal After The Covid-19 Crisis 
05/27/20 OBSERVATIONS FROM THE FINTECH SNARK TANK The “new normal” in banking and fintech is best understood by starting with a look back at what the “old normal” was. 

 

Virus Turmoil Wipes Out Year’s Growth for Australia Pensions
05/26/20 Global market turmoil caused by the coronavirus has wiped out a year’s growth for Australia’s pensions industry, the world’s fourth-biggest pot of retirement savings.

 

The Arrival Of The 'Unavoidable Pension Crisis' 
05/26/20 I wrote an article in 2017 discussing the “Unavoidable Pension Crisis.” At that time, most did not understand the risk. 

 

US. The No.1 reason people make early withdrawals from retirement funds may surprise you
05/26/20 Retirement is the prize at the end of the work marathon. Any financial advisor or accountant will tell you it’s a good idea to start saving for retirement as early as possible, and the average working adult spends decades adding money, little by little, to his or her retirement fund. When the time comes, that money will be spent on leisure, fun, and everything else we can’t do while working full time.

 

U.K.’s Largest Pension Fund Urges Total to Clamp Down on CO2 
05/25/20 The U.K.’s biggest pension fund said it will back a climate resolution asking for France’s Total SA to adopt a tougher stance on climate change at its annual shareholder meeting next week. 

 

South Africa. Eskom must tackle the cost of its coal contracts
05/25/20 The lockdown is imposing additional financial strain on Eskom and necessitates urgent solutions to get the company on a sustainable path beyond Covid-19.

 

UK. How will the current financial climate affect UK pensioners? 
05/25/20 Pension saving often involves a lot of forward planning, with key decisions having to be made at particular times within a person’s life. 

 

US pension funds approach point of no return
05/22/20 The issues facing public pension funds in the US are widely known, and while it’s not clear how exposed to the recent market correction funds were, analysis from Wirepoints of 2018 data shows some may have reached the point of no return.

 

Working In Retirement: What You Need To Know Now 
05/22/20 It’s common to assume that once you’re retired, your working days are over. But that’s not always the case. Whether it’s financially necessary or just a way to stay busy, a lot of people end up with a post-retirement career. 

 

Large European companies fall short on ESG disclosure – report
05/21/20 Many of Europe’s largest public companies are not adequately disclosing their environmental and climate-related risks. Many of Europe’s largest public companies are not adequately disclosing their environmental and climate-related risks, according to a report being released Tuesday by the Climate Disclosure Standards Board.

 

Latvian prime minister admits need to review retirement pension system 05/21/20 State Audit has concluded the retirement pension system costs the state budget EUR 74 million annually, but the amount of commitments or the amount needed to pay retirement pensions in the future is estimated at EUR 4.5 billion. State auditor Elita Krūmiņa pointed towards problems uncovered in the retirement pension system, urging to review it. 

 

How COVID-19 impacts asset allocation strategy of pension funds
05/21/20 The National Bureau of Statistics is expected to release Nigeria’s pension asset data for the first quarter of the year, next week. Ahead of the release, we’ll take a look at how the global Covid-19 pandemic is impacting the asset allocation strategy for pension fund administrators. Joining CNBC Africa more is Niyi Falade, CEO of Crusader Sterling Pensions.

 

World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus) 
05/20/20 The World Bank Group today announced its emergency operations to fight COVID-19 (coronavirus) have reached 100 developing countries – home to 70% of the world’s population. 

 

Did Coronavirus Destroy The FIRE (Early Retirement) Movement? 
05/20/20 If you’re a member of the FIRE movement, you may be justifiably concerned about the economic and financial turmoil of the past few months. Most members of the movement have no experience with a serious downturn, at least not since retiring early. 

 

Canada. How are pension plan sponsors’ fiduciary duties evolving in the time of coronavirus? 
05/20/20 While the coronavirus pandemic certainly doesn’t change pension plan sponsors’ fundamental fiduciary duty to their plan members, the crisis is creating circumstances that will test how that responsibility manifests. 

 

US. How Lawmakers Can Raise Teacher Pay Without Decimating Pension Funds 05/19/20 When the pandemic hit, school districts across the country were in the process of giving their teachers a raise. But hiking teacher salaries now will strain state pension funds at a time when the economic fallout from the coronavirus is decimating public pension systems. In March, Moody’s Investment Service said U.S. public pension funds had already suffered nearly $1 trillion in investment losses.

 

European insurers face increased risk exposures due to Covid-19, but market perceptions and imbalances remained at medium level 
05/19/20 Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the fourth quarter 2019 Solvency II data. 

 

UK. Pension savers unable to move their cash as trustees use emergency powers
05/18/20 Savers who want to ditch defined benefit pensions as their employers struggle to survive may find themselves trapped by trustees using emergency powers to halt transfers.

 

India. World Bank to provide $1 billion loan for social protection 
05/15/20 After healthcare, the World Bank on Friday said it had cleared a $1 billion assistance for social protection and is in talks with the government for funding initiatives to assist micro, small and medium enterprises (MSMEs). 

 

Swiss pension funding levels recover after falling below 100% 
05/15/20 The funding ratio of Swiss Pensionskassen bounced back to 103% in April after declining to 99.8% for a short time at the end of March, according to Complementa’s latest “risk check-up” analysis report. 

 

UK. Govt told to scrap pensions triple lock to reduce virus debt 
05/14/20 The pensions triple lock could be scrapped in the near future as the government looks to recoup the hundreds of billions of pounds it has spent on Covid-19 support. 

 

COVID-19 Economy: Why Nigeria must develop digital economy, increase national savings
05/13/20 Foreign Investment Network (FIN) has listed a number of economic strategies Nigeria and other African countries could adopt, to avert the economic effects of the COVID-19 pandemic.

 

Some insights from the 'United Kingdom 2020: Workplace Pensions Consumer Study' 
05/13/20 The "Workplace Pensions Consumer Research Report 2020" report has been added to ResearchAndMarkets.com's offering.

 

Millennials step into caregiving roles for aging parents
05/13/20 Millennial women already caring for aging parents or planning to do so are much more stressed about the caregiving responsibility than men, a new poll reveals.

 

Stock market wipes out Kenyan pensioners’ $350m in just three months 05/12/20 Kenyan retirees lost over Ksh35 billion ($350 million) to falling stock prices and soaring inflation as the Covid-19 pandemic wreaked havoc on the country’s economy in the past three months. 

 

Covid-19 impact: Global pension funds pause India investment
05/12/20 Top global pension funds have suspended India investment plans until they come to grips with the damage Covid-19 does to global and local economies, and their portfolios stabilise amid extreme market volatility and uncertainty.

 

US. How COVID-19 Has Changed Retirement Planning 
05/12/20 The global COVID-19 pandemic has touched virtually every aspect of our lives, not least of which is how we save for retirement. Forbes Advisor commissioned a YouGov survey of 9,675 U.S. adults to get a deeper read on how coronavirus has impacted retirement planning. 

 

US. Public Pensions Could Suffer for Years from Pandemic Losses
05/11/20 US public pension plan sponsors and administrators are likely entering a period of fiscal stress, and rising pension obligations caused by the sudden pandemic-induced recession are expected to be felt for years by US state and local governments, according to a report from S&P Global Ratings.

 

Protecting financial consumers during the COVID-19 crisis 
05/11/20 Financial regulators around the world are struggling to deal with the impact of the COVID-19 pandemic. As consumers’ financial circumstances deteriorate as a result of the crisis, it is crucial to ensure that financial institutions treat consumers fairly and bad behavior does not add to consumer suffering. 

 

Australia. COVID-19 has killed 12% superannuation
05/11/20 For years MacroBusiness has argued that Australia’s superannuation guarantee (SG) should not be raised from the current level of 9.5% to 12%.

 

Covid-19, Longevity Risk & the Economics of Annuitization 
05/11/20 Although the dire medical situation and mounting economic toll of covid-19 is of immediate and first-order importance, the virus has also prompted many to ponder their own mortality. 

 

Pandemic Blots One Year’s Worth of Gains from Canadian Plans
05/08/20 The coronavirus pandemic has wiped about a year’s worth of gains from Canadian pension plans, BNY Mellon said Monday.

 

Egypt increases wages, pensions by LE 100B in 20/21: Prime Minister 05/08/20 "Egypt’s new budget draft for fiscal year 2020/2021 includes an article stipulating the increase of wages and pensions by LE 100 billion," Prime Minister Mostafa Madbouli said Thursday. 

 

US. J.P. Morgan report estimates pandemic’s impact on unfunded retirement benefits
05/08/20 Banking giant J.P. Morgan issued a report estimating the impact of the COVID-19 pandemic and economic downturn on states’ unfunded pension and retiree healthcare liabilities, noting Connecticut would have to pay nearly 40 percent of its revenue for the next thirty years to pay off nearly $70 billion in unfunded liabilities.

 

UK Corporate Pension Funding Hammered by Pandemic in April  
05/06/20 The accounting position of the defined benefit pension plans of the UK’s FTSE 350 companies plummeted in April as it swung from a surplus of £10 billion ($12.4 billion) at the end of March to a deficit of £52 billion at the end of the April due to the impact of the COVID-19 pandemic. 

 

What are the implications for pension funds coming out of coronavirus crisis?
05/06/20 Last August, I wrote about whether central banks were creating a financial bubble with their coordinated easing programs intended to spur economic growth and/or lift inflation. In January 2020, I wrote about the end of the economic cycle, the potential for a recession and what that might mean for positioning an investment portfolio.

 

COVID-19 Is Exposing the Holes in Latin America’s Safety Nets 
05/05/20 Governments around the world need to get cash into the pockets of families who lost their income due to the coronavirus, and Latin America might seem well-equipped for the task.

 

White House Makes Appointments That Could Impact Pension Fund Decision to Invest in China
05/05/20 The White House on Monday named three nominees to sit on a board that oversees federal employee pension funds, a move that could see the reversal of a decision to allow one of the funds to invest in Chinese companies under scrutiny from Washington.

 

Should UK millennials be worried about their   retirement savings over the coronavirus crisis?  
05/05/20 Experts weigh up whether job losses and stock market volatility from the coronavirus crisis has caused lasting damage to the retirement savings of British millennials.

 

Top US pension plans eye private credit.
04/05/20 Some of America’s largest pension funds are looking to pour money into private credit to capitalise on dislocations across the market stemming from the coronavirus pandemic.

 

Jamaica. The COVID-19 response: Beyond the crisis The Government's 
05/04/20 COVID-19 Economic Recovery Task Force very much duplicates the existing National Partnership Council that had been established to drive Jamaica's economic development long before the advent of the global pandemic. 

 

Before And After: FinTech vs. Healthcare Covid-19 Crisis Series
05/04/20 This is the first in a series of articles comparing the Covid-19 crisis in Healthcare to the financial crisis in 2008 that led to an industry-shaping boom in FinTech.

 

Australia. How financial planning around super will likely change 
05/04/20 Financial planning around superannuation may be forced to change as a result of the impact of COVID-19 and the efforts of superannuation funds to increase their cash holdings, according to actuarial research house, Rice Warner. 

 

US. How The Pandemic Is Making The Retirement Crisis Worse — And What To Do About It
05/01/20 The coronavirus crisis has torn the Band-Aid off the financial fragility of many Americans.

 

ATP, PFA assets plummet as coronavirus hits 
05/01/20 ATP, Hilleroed, Denmark, posted a -26% investment return for the three months ended March 31, as market fluctuations hit international equities and inflation-related securities. 

 

 

 

Canada. Pension plan regulatory relief and COVID-19 – additional measures announced 
05/01/20 In our most recent posts, we highlighted some of the regulatory relief available to administrators of Ontario registered pension plans and plans registered in jurisdictions other than Ontario as a result of COVID-19. 

 

How Has COVID-19 Affected Retirement Income Adequacy?
04/28/20 Considering the recent market volatility and related economic fallout, new research by EBRI finds that the impact still appears to be recoverable.

 

Australian Disability pensioners fight for COVID-19 supplement 
04/28/20 Disability pensioners claim they have been discriminated against by the federal government in its response to the coronavirus pandemic, with one young Sydney man saying he is on the verge of homelessness.

 

US. Coronavirus’ Impact on Retirement Money in the Market
04/27/20 The COVID-19 crisis has taken a major toll on the U.S. economy, and has been battering the stock market since the virus started spreading rapidly in March.

 

COVID-19 - an ageing world makes it harder to fight pandemics 
04/27/20 The global fight against COVID-19 has triggered a surge of interest in the 1918 to 1920 influenza pandemic that killed more than 50 million people around the world.

 

Dimensions of Human Resource Management Evolved with the Outbreak of COVID-19
04/24/20 The COVID-19 can be blamed for the greatest workplace transformations after 2020. This outbreak in this 21st century will break the existing system i.e. working, exercising, shopping, communicating, educating, and learning.

 

Labor Markets During the Covid-19 Crisis: A Preliminary View 
04/24/20 We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic.

 

Coronavirus will make US cities feel the pressure of pension debt
04/24/20 Municipal pension debt is among the many aspects of the economy that have been severely impacted by the coronavirus pandemic.

 

Ghana’s Social Protection And Public Choices In The Days Of Covid-19 04/23/20 We cannot know how society protects its weakest and vulnerable, those at the bottom of society from deprivation until a catastrophe such as COVID-19, the 'unseeable, undead, unliving blob', to use the words of Arundhati Roy, is unleashed on us. 

 

UK. Coronavirus crisis hits occupational pension schemes
04/23/20 Members of generous final-salary workplace pension schemes could see their guaranteed benefits jeopardised by the Covid-19 pandemic.

 

EBRI: Pandemic likely to worsen U.S. retirement savings deficit 
04/23/20 The impact of the coronavirus pandemic on U.S. retirement readiness using middle-of-the road risk assumptions appears to be manageable, according to projections by the Employee Benefit Research Institute.  

 

Kenya needs better social protection programmes during Covid-19
04/22/20 While scrolling through Twitter, it is likely that you will come across a post appealing for food aid.

 

Australia. 500 firms to stop pension top-ups over coronavirus 
04/22/20 Hundreds of companies are expected to abandon attempts to fill shortfalls in their pension schemes during the coronavirus crisis. 

 

PensionBee: Coronavirus will see greater engagement with pensions
04/21/20 Clare Reilly, head of corporate development at PensionBee, believes the current challenging economic conditions could lead people to engage with their pensions more closely.

 

US. We Need a New Social Contract for the Coronavirus 
04/20/20 Our collective behavior will be the primary determinant of whether we can keep this virus in check. 

 

India. No deduction in pension amid COVID-19 outbreak: Union Government
04/20/20 The Union government in its latest order has said that there will be no deductions in pension.

 

Income and Wealth Shocks and Expectations during the COVID-19 Pandemic 04/17/20 In early April 2020 we conducted a survey on a representative sample of more than 8,000 US households to study the effect of the coronavirus crisis on household income and retirement wealth, households' expectations about the recovery, and the impact of the shock on individuals' economic choices.

 

IMF warns of global social unrest amid coronavirus pandemic
04/17/20 The International Monetary Fund warned the economic havoc caused by the coronavirus pandemic could spark further social unrest around the globe and urged governments to take steps to prevent the disturbances, according to a report.

 

Milliman analysis: Public pensions hammered by COVID-19 economic volatility, shedding $419 billion in market value in Q1 
04/17/20 Milliman, Inc., a premier global consulting and actuarial firm, today released the first quarter 2020 results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans.

 

Canada’s Pension Funds Prepare for Post-Virus World
04/17/20 Ontario Municipal Employment Retirement System has put a team in place to analyze what the world will look like in the post-pandemic era. The C$109 billion ($77 billion) pension fund is weighing everything from what it’ll look like when people go back to work to how different companies in its portfolio will fare, Blake Hutcheson said in a Canadian Club of Toronto virtual roundtable.

 

Work after COVID: A new regime for independent workers 
04/16/20 A spectre is haunting the world – the spectre of COVID-19. The ability of nations to deal with the impact of this pandemic is the most important public policy challenge in decades. In addition to the ineludible health emergency, in a context in which productive lockdowns are reproduced on a global scale, governments face the double challenge of sustaining workers’ incomes and mitigating demand shortages that can deepen an economic depression. 

 

Pension pots around the world during COVID-19
04/16/20 Governments around the world are springing into action to leverage and safeguard pension pots during the COVID-19 economic and market turmoil.

 

Chile gives pension funds more firepower as virus batters growth 
04/16/20 Chile’s Central Bank agreed on Wednesday to increase the maximum investment limits on alternative assets for four of the country’s five public pension funds as it seeks to contain the impact of the coronavirus health crisis on the economy. 

 

Canada. The coronavirus has created a tremendous financial opportunity for workers with a pension 
04/15/20 Unique opportunities sometimes come in extreme times. The one detailed below on commuting the value of your pension won’t be an option for many, but for those with the ability to take advantage, it could meaningfully improve their retirement finances for years to come.

 

How Coronavirus Pandemic Is Affecting Fintech Companies
04/14/20 As the world evolves and becomes a lot more advanced, financial technology (fintech) companies have a bigger chance to solidify their positions.

 

Is quarantine like early retirement? These people think so 
04/14/20 Shelter-in-place orders have urged most Americans to stay home, freeing hours of time otherwise spent commuting or working at an office. 

 

US. Retirement planning during coronavirus pandemic: Here’s what to watch for
04/13/20 Retirement in the age of coronavirus isn’t going to be easy. True, seniors and pre-retirees can take advantage of some flexible and lenient new rules on retirement accounts.

 

Egypt. COVID-19 crisis likely to propel social protection reforms: Mashaat  04/13/20 The novel coronavirus (COVID-19) crisis is likely to accelerate the structural reforms as regards the social protection and the irregular workers alongside activating the financial inclusion as per the policies of the Central Bank of Egypt (CBE), said International Cooperation Minister Rania el Mashaat on Monday.

 

Jamaica. COVID-19 is opportunity in disguise – disaster risk expert
04/13/20 Dr Dennis Edwards, who was part of a panel organised by the Caribbean Sociological Association (CASA) to examine the social fallouts occasioned by the pandemic last week, said COVID-19 should be taken “as a sort of opportunity in disguise”.

 

Covid-19: Restrictions, Economic Losses And Incentives. European And Global Overview 
04/08/20 The viral epidemic COVID-19 started in December 2019 in a large city of China, Wuhan with a population of about 20 million, similar to that of Romania.

 

More Than 1 Billion Workers Face ‘Drastic’ Hit From Virus
04/08/20 The coronavirus outbreak is having a “deep, far-reaching and unprecedented” impact on employment, with more than 1 billion workers at high risk of a pay cut or losing their job, according to the International Labor Organization.

 

COVID 19: Emerging Investment Risks for Pension Schemes 
04/08/20 Daily policy initiatives by governments across the world who are desperate to avoid the worst ravages of an economic recession are fuelling a lot of the volatility in public markets with which investors are now sadly familiar.

 

Social protection responses to the COVID-19 lockdown in South Africa
04/07/20 Poor and vulnerable South Africans, including domestic, farm, service sector, and self-employed workers, face a double shock. COVID-19 is a major health risk that has already claimed tens of thousands of lives worldwide and is starting to claim lives in South Africa.

 

 
Irish Demand for Social Benefits Soars as Coronavirus Bites 
04/07/20 The number of people in Ireland dependent on social welfare income support amidst the coronavirus outbreak has soared to more than 700,000 based on numbers released on Monday by the Department of Employment Affairs and Social Protection.

 

US. Some companies are cutting 401(k) matches because of the coronavirus   04/06/20 Some companies hit hard by the coronavirus pandemic are suspending or reducing matching contributions to their employee retirement plans. Others are exploring their options.

 

How the coronavirus threatens Asia-Pacific’s $7tn pensions market 
04/06/20 The coronavirus outbreak has piled pressure on Asia-Pacific’s multitrillion-dollar pensions industry, with the pandemic raising fears that retirees could make a panicked dash to withdraw their investments.

 

US. Coronavirus Is Making the Public Pension Crisis Even Worse
04/02/20 For years, the country’s public pension plans have faced a yawning gap between what they owe and what they can pay. From the State of California’s public employees’ retirement plan, with more than 1.6 million participants, to tiny funds for employees of local mosquito-control programs in Illinois, public pensions are the time bomb of government finance.

 

Dutch pension funds invest in coronavirus bond 
04/02/20 Dutch pension funds invested a total €36 million ($38 million) in a new bond aimed at combating the coronavirus pandemic. Pension funds managed by APG and PGGM have invested in the Nordic Investment Bank’s €1 billion Response Bond, which matures in April 2023.

 

Useless Retirement Advice And Bad Government Policy In The Time Of COVID-19
04/02/20 The COVID-19 Recession is going to wreak havoc on older workers’ financial future. I am sure it will affect younger people, too, but I’m focusing on the people 50 and up, who will be less likely to get a second chance.

 

Kenya’s retirement benefits eroded by coronavirus 
04/01/20 Pension managers in Kenya project depressed growth of retirees’ funds due to the coronavirus pandemic that has negatively impacted the financial markets.

 

United Arab Emirates. Coronavirus: Private companies can postpone pension payments over next three months 
04/01/20 The Abu Dhabi Pension Fund on Tuesday announced that private sector companies in the emirate can apply to postpone paying pensions over the next three months. The decision, which was passed by the group’s board of directors, is open to 1,154 private entities that are registered to the fund, with those companies able to submit their application for postponed payments electronically through the fund’s online portal.

 

India. Migrant Workers Need Social Protection To Overcome COVID-19 Lockdown Trauma: Health Ministry
04/01/20 The Health Ministry today called for providing a social protection to migrant workers, saying they are prone to social, psychological and emotional trauma in lockdown situations.

 

Canadian pension scheme CDPQ to help coronavirus-hit firms with C$4 billion fund 
03/31/20 Caisse de dépôt et placement du Québec (CDPQ), one of Canada's biggest state pension investors, said on Monday it would create a C$4 billion fund to support companies in Québec adversely affected by the coronavirus pandemic. 

 

Coronavirus lockdowns and social-distancing fuel surge in use of fintech apps 
03/31/20 The coronavirus pandemic has fueled a 72% surge in the use of fintech apps in Europe in the past week as consumers adjust to social distancing, self-isolation and lockdowns, according to new research by deVere Group.

 

South Africa. Use pension funds for coronavirus relief efforts – unions 03/30/20 South Africa’s biggest labor-union federation and a key political ally of president Cyril Ramaphosa is pushing the government to tap state institutions for a stimulus plan to combat the fallout from the coronavirus outbreak.

 

EIOPA statement on actions to mitigate the impact of Coronavirus on the EU insurance sector
03/27/20 The European Insurance and Occupational Pensions Authority (EIOPA) issued on 17 March 2020 a statement addressed to the EU insurance sector acknowledging the significant consequences for financial services that the Coronavirus/COVID 19 situation may cause

 

Coronavirus and online solutions: Necessity the mother of invention
03/27/20 Contagion-control measures in Latin America have led to private companies and citizens heightening their dependence on, and increasing their use of, internet-powered solutions and apps.

 

Japan to give one-year tax grace period for virus-hit companies
03/27/20 Unprecedented payment delay to include corporate taxes, social insurance premiums.
The Japanese government will create a special system to provide a one-year grace period for companies to pay tax and social insurance premiums due to the spread of the coronavirus, the Nikkei has learned.

 

Kenya. Covid-19 test to our social protection system
03/25/20 As the world grapples with the Covid-19 global pandemic, the government has set in motion a raft of measures designed to not only arrest the spread of the coronavirus disease in Kenya but also ameliorate its negative financial and economic impact on the population.

 

Australia’s pensions industry in urgent talks on coronavirus crisis changes
03/24/20 Australia’s A$3 trillion ($1.72 trillion) pension industry was not consulted on the federal government’s decision to allow the unemployed and sole traders early access to retirement savings and is now in urgent talks about the move, sources said.

 

Fintech firms say new tech could speed recovery from COVID-19
03/24/20 Financial technology companies are working to improve behind-the-scenes market functions, such as exchanging securities and making lending decisions, saying the use of new technologies could help markets recover faster than they did in past financial crises.

 

A List Of Fintech Firms Providing Free Technology To Banks During The Coronavirus Crisis
03/23/20 To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment offers to financial institutions.

 

Australia. Social protection and viral recession
03/20/20 So far, Australia’s help for people displaced, self-isolating or ill has been far from generous.
If the Australian Financial Review is right, the federal government is considering a new transitional income support payment for workers who lose their jobs because of the coronavirus crisis.

 

Finnish unions, employers agree crisis proposals over coronavirus
03/19/20 Finnish trade unions and employers on Wednesday agreed measures to support the labour market and promote temporary changes in legislation to shore up the weakening economy, they said in a joint statement.

 

European regulator calls on insurers for business continuity amidst virus battle
03/18/20The independent European Union financial regulatory institution said it is monitoring the COVID-19 situation very closely in close communication and cooperation with the other European supervisory authorities and the European Systemic Risk Board as the outbreak continues to cause disruption to households and businesses.

 

How are Canadian pension plans responding to coronavirus?
03/18/20 Across the country, public pension plans are releasing statements to assure members that their defined benefit pensions are secure and that they’re taking measures to protect the health and safety of their own staff.

 

Antigua and Barbuda . COVID-19 puts thousands of pensioners at risk
03/18/20“That timeliness of the benefit payment is what will determine the quality of life for an elderly person that is perhaps afflicted by a COVID-19 infection,” said the Executive Director of the Antigua & Barbuda Social Security Board (ABSSB), David Matthias.

 

COVID19 checklist for pension schemes
03/17/20 As governments and central banks across the world introduce extraordinary measures to limit the damage of this pandemic to both health and the global economy, The Pensions Regulator has urged trustees to have appropriate contingency plans…

 

In Nagoya, scramble for hospital beds shows coronavirus challenge for aging Japan
03/17/20 Hospitals in Nagoya city in Japan’s industrial heartland have more coronavirus patients than they can treat, forcing transfers to nearby areas and offering a glimpse of the challenges the outbreak poses for a country with a huge elderly population.

 

Coronavirus: Stocks plunge despite global central bank action
03/16/20 Global stock markets have sunk despite central banks around the world announcing a co-ordinated effort to ease the effects of the coronavirus.

 

Coronavirus pushes big Dutch funds back toward pension cuts
03/16/20 The fall in interest rates caused by the global coronavirus outbreak has pushed the Dutch pension fund system back into crisis, with the largest fund, ABP, warning on Monday it would have to cut pensions in 2021 at current solvency levels.

 

Coronavirus: FTSE 100, Dow, S&P 500 in worst day since 1987
03/13/20 The main UK index dropped more than 10% in its worst day since 1987. In the US, the Dow and S&P 500 were also hit by their steepest daily falls since 1987. 

 

Feverish Stock Price Reactions to COVID-19
By Stefano Ramelli, Alexander F. Wagner
03/13/20 This paper studies how markets adjust to the sudden and rapid emergence of previously neglected risks. It does so by analyzing the stock price effects of the 2019 novel Coronavirus (COVID-19) outbreak.

 

Australia. Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces
03/12/20 The Federal Government has announced a $17.6 billion economic stimulus package in a bid to keep Australians in jobs as the economy takes a hit from the spread of coronavirus.

 

Dutch pension funds stick to rebalancing policy
03/12/20 Dutch pension funds and their asset managers are sticking to their rebalancing policies within their strategic asset allocations, despite market volatility and falling interest rates.

 

UK. Budget 2020: Coronavirus grants pensions Budget immunity
03/12/20 The temporary sticking plaster Rishi Sunak provided to patch the NHS pensions taper tax crisis turned out to be much bigger than expected — a £2.2bn giveaway that will benefit the pensions contributions of…

 

What the coronavirus market fall means for UK pensions
03/10/20 Savers are nursing losses approaching 10% in their pension schemes since the start of the coronavirus market panic, while holders of share Isas have lost as much as a quarter of all their money in some funds.

 

US. Retirement plans and the coronavirus: What moves do you make?
03/10/20 Linda is in a panic. She’s a 65-year-old divorcée who knew she had a very risky investment strategy for her age. She’s recently retired and receives about…

 

Stock Markets Plunge Across the World as Coronavirus Sparks Oil Price War
03/09/20 Global stock markets, already reeling from intense panic over the spread of the novel coronavirus, plunged on Monday as oil prices nose-dived by more than 30 percent—the biggest daily drop since the Gulf War in 1991—after Saudi Arabia shocked the world by launching a price war against Russia.

 

Growing Coronavirus Epidemic Is Straining Europe’s Health-Care System
03/09/20 Doctors in European countries where the coronavirus has just begun to spread are warning that their health-care systems aren’t prepared for an outbreak on the scale seen in China, South Korea or Italy.

 

Asset owners, managers turn to technology to combat COVID-19
03/09/20 The spread of COVID-19 across the globe and the potential threat it represents to human health and disruption to basic business practices in the U.S. have led to significantly curtailed travel and heavier reliance on remote meeting technology by both investors and managers.

 

BBC coronavirus UK warning: Pensioners face ‘rapid increase’ in risk of death from illness
03/06/20 Sir Patrick Vallance outlined that the mortality rate of COVID-19 cases for people over the age of 80 is around eight percent, he then contrasted this with the mortality rate for children under which is “essentially zero”.

 

US. Fragile Retirement Funds Tested by Market Volatility, Bond Yields
03/05/20 The list of institutions challenged by the impact of the coronavirus now includes America’s pension funds. State and local government retirement systems face the difficult task of trying to plug funding gaps while protecting against investment losses.

 

Global Economic Policymakers Scramble as Coronavirus Threatens Growth
03/04/20 Global policymakers moved to ease public anxiety over the coming economic hit from the coronavirus on Monday, as analysts warned of a severe slowdown in growth and a possible recession if the virus continued to spread.

 

Coronavirus fears wipe £200bn off UK firms’ value
03/02/20 London’s FTSE 100 share index has seen one of its worst weeks since the depths of the financial crisis in 2008 as markets continue to reel from the impact of the coronavirus.

 

UK. Pensions take hit as FTSE loses £152billion in four days due to coronavirus
02/28/20 Pension savings took a battering yesterday after billions of pounds were wiped off the stock market in the wake of the growing coronavirus outbreak.

 

Coronavirus, Global Aging & How Future Contagions May Affect Life In Retirement
02/27/20 Unfortunately, the fear factor around the current and future global contagions is likely to grow exponentially and is likely to disproportionately affect the lives and wellbeing of older people.

 

Coronavirus fears sink stock markets in Asia
02/25/20 Asian stock markets opened the week sharply lower Monday amid fears the coronavirus dogging the mainland this year is spreading more broadly now.