September 2018

20Sep

UK. Pension funds shifting towards more complex investment portfolios

The majority of institutional investors like pension funds are increasing overhauling their portfolios in search of greater returns, with two-thirds having added at least one new asset class over the last three years. That is according to a global study of investors with around £6trn in assets by consultancy firm bfinance, which finds that private debt, infrastructure and real estate are among the most popular new additions to portfolios. Almost half of investors have increased their allocations to private markets, although...

September 20, 2018
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20Sep

Australia. Superannuation’s multimillion-dollar problem

Very few superannuation systems the world over can hold a candle to Australia’s, but one key flaw leaving certain Australians at risk of poverty has persisted through its 25-year history. The average Australian can expect to retire with hundreds of thousands of dollars in savings, taking pressure off the government pension and improving retirees’ quality of life – but it’s most effective for Australians who work full time for their entire adulthood. Taking a career break is punished severely by the...

September 20, 2018
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20Sep

UK. Industry demands mandatory pension dashboard

More than 20 pension providers and administrators are demanding ‘a firm stance on compulsion’ from the government on the pension dashboard after coming together to discuss the project. In the meeting hosted yesterday (18 September) by fintech provider Origo, providers agreed the government will need to legislate to "ensure the whole industry is fully compelled to participate". The plan behind the pension dashboard, which is due to launch in 2019, is to create the technology to allow savers to see all...

September 20, 2018
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20Sep

Greece. Pensioners body accuses Labour ministry, EFKA of delaying pensions

A Greek pensioners’ body has accused the leadership of the Labour Ministry, the Single Social Security Entity (EFKA) and the auxilliary pensions fund of delaying on purpose the issuing of new pensions to secure the record surplus the government is presenting to its creditors. The Unified Pensioners’ Network filed a request for an investigation to an Athens prosecutor on Wednesday asking him to investigate whether criminal offences have been committed against pensioners. The network claims a total of 180,000 pensions are...

September 20, 2018
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20Sep

South Africa’s state pension fund invests $100 million in Afreximbank

South Africa's state pension fund said on Thursday it would invest $100 million to buy shares in African Export-Import Bank (Afreximbank) as part of the pension fund's plan to invest in the rest of the continent. The Public Investment Corporation (PIC), which manages roughly 1.9 trillion rand ($130 billion) of civil servants' pensions and is Africa's biggest pension fund, said it would acquire Class B shares in Afreximbank. The PIC said the investment was part of its plan to invest 5...

September 20, 2018
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19Sep

Ireland. One in five will still pay mortgage in retirement

Large numbers of cash-strapped householders expect to be still paying off their mortgages in retirement. A third of people are also concerned about having enough money to live on when they give up work, according to research into pensions commissioned by Zurich Life. The survey found that one in five of those with a mortgage is so heavily indebted they expect to be still paying off the home loan when they cease working. An even higher proportion of renters have given up...

September 19, 2018
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19Sep

Corporate governance key to pension’s growth

The concept of sustainable investment is becoming more essential daily as an effective means of achieving desired impact on the global environment. The sustainable investment approach considers Environmental, Social and Governance (ESG) factors, as well as the long-term health and stability of the economy as a whole. These were the assertions of the Pioneer Director-General, the National Pension Commission (PenCom), Muhammad Ahmad, at the conference of Directors of Licensed Pension Operators in Nigeria, in Lagos. Read more Guardian

September 19, 2018
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19Sep

Pensions in Bulgaria will Rise by 5.7% from 1 July Next Year

Current estimates show that the upgrading of pensions from July 1 next year will be higher than in recent years. All pensions are expected to be raised by 5.7%, Labor and Social Policy Minister Biser Petkov told bTV on Tuesday. He explained that this was a direct consequence of the increase in income. According to Petkov there is no discussion of new growth of the minimum pension and promotion other than the annual indexation of pensions. Every year, from July 1,...

September 19, 2018
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19Sep

UK. Regulator to monitor 60 pension schemes ‘one to one’

The Pensions Regulator (TPR) is to launch a new approach to its workplace pension regulation which will see it provide 'one to one' supervision of 60 pension schemes. The new range of interventions aim to address risks sooner, clarify the regulator's expectations and take action where necessary. It will include the introduction of a supervision regime to monitor schemes more closely, with higher and lower intensity interventions dependent on the risks identified. From next month, TPR will implement one-to-one supervision for...

September 19, 2018
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19Sep

India. PFRDA caps MF investment by NPS; Kotak Pension most hit

A recent circular from PFRDA says pension fund managers of NPS can invest only 5% of corpus in mutual funds The pension regulator has finally taken cognizance of the fact that pension fund managers (PFMs) under the National Pension System (NPS) shouldn’t outsource fund management to mutual fund companies. A circular issued by the Pension Fund Regulatory and Development Authority (PFRDA) on 20 August puts a cap on the amount of corpus the PFMs can invest in MFs to manage...

September 19, 2018
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