June 2022
07Jun

UK. Work and Pensions Committee to question Pensions Regulator, FCA, MaPS and former pensions ministers

The Work and Pensions Committee will question former pensions ministers and representatives from the Pensions Regulator, Financial Conduct Authority (FCA) and Money and Pensions Service (MaPS) as part of its inquiry into saving for later life. The inquiry is examining whether households have adequate pension savings for retirement and how the Government can improve outcomes for savers. Purpose of the session The first panel will feature former ministers Sir Steve Webb and Baroness Ros Altmann along with Baroness Jeannie Drake, a former member of the...

June 7, 2022
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07Jun

US. Bitcoin Or Bulls For My Pension Plan?

In the long run, tokenisation is going to change everything. I suppose, like most people, the most important financial decisions that I make are with respect to retirement savings. Therefore I try to stay abreast of developments in the sector. Hence I note with interest that one of the serious players in this space, Fidelity (the largest retirement plan provider in the U.S.), are launching a 401(k) cryptocurrency product. Roughly 23,000 companies use Fidelity to administer their retirement plans, and...

June 7, 2022
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07Jun

Kosovo war veterans clash with police, want higher pensions

Hundreds of Kosovo war veterans clashed with police Monday at a protest to demand higher pensions, leaving at least three people injured, police said. Police kept members of the War Veterans’ Organization of the Kosovo Liberation Army (KLA) away from the parliament in Pristina, where lawmakers were discussing proposal to raise the minimum salary from 170 euros ($182) to 250 euros ($268) per month. More than 30,000 war veterans get 170 euros per month for their pensions but were not included...

June 7, 2022
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07Jun

Iranian pensioners protest against high living costs — reports

Pensioners protested in Iran on Monday against soaring living costs, according to Fars news agency and social media reports, in a further challenge to authorities grappling with weeks of unrest. Demonstrators shouted “our expenses are in dollars, our income in rials” in the northwestern city of Tabriz, the semi-official agency reported. “About 1,000 retirees gathered to protest peacefully and were escorted by the police” in the city, Fars added. Social media posts also purported to show crowds in Qazvin, Shiraz, Shushtar and...

June 7, 2022
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06Jun

Investors put new weight behind ESG mandates

Institutional investors have focused on ESG for many years, but the industry may be reaching a tipping point in terms of the specificity and sophistication of ESG mandates. Against a backdrop of increasingly hard to ignore climate risks and social unrest brought on by the Covid-19 pandemic, the death of George Floyd and the war on Ukraine, institutions are moving away from passive exclusion strategies and leveraging new data to engage with management teams, set specific goals and measure...

June 6, 2022
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06Jun

UK. Pension policy dissatisfaction rises; majority sceptical of triple lock future

Over three quarters (81 per cent) of pension professionals are sceptical about the future of the state pension triple lock and doubt it will exist in its current form in five years’ time, according to the latest Pensions Management Institute (PMI) Pulse survey. The research also revealed a broader dissatisfaction over the handling of pensions policy, as fewer than half (49 per cent) of pension professionals were satisfied with its direction over the past six months, marking a 12 percentage...

June 6, 2022
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06Jun

People in Germany retired earlier with slightly higher pensions in 2021

For years, the average retirement age in Germany has been increasing, but 2021 saw a little blip in the trend, with employees retiring a little earlier and with slightly higher pension benefits than in previous years. People retired earlier with higher pensions in 2021 On average, people working in Germany retired a little earlier last year and with slightly higher pensions, according to new figures from the Deutsche Rentenversicherung, which were made available to Bild. In total, 1,435 million employees retired in...

June 6, 2022
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06Jun

US. Pension Funds Push for More Disclosure Rules for Private-Equity, Hedge Funds

Pension plans and other institutional investors are embracing a federal proposal that would force hedge funds and private-equity funds to provide more disclosures to investors. University endowments, insurance funds and retirement funds serving teachers and firefighters are urging the Securities and Exchange Commission to move forward with a proposed rule that would ensure private-fund investors receive annual audits and quarterly statements. The rule, which has been heavily criticized by the private funds and Republicans, would also prohibit fund managers from...

June 6, 2022
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03Jun

Reporting on a Greener Future

By Maggie Williams As climate change and ESG stewardship become a central part of pension schemes’ investment strategy, identifying suitable performance measures and devising frameworks to report on them has also risen in importance. The Pensions Regulator and Department for Work and Pensions now requires schemes to use the Task Force on Climate-Related Disclosures framework (TCFD) to report on their portfolios – and from April 2022, large companies in the UK will also be subject to mandatory climate risk reporting, based...

June 3, 2022
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03Jun

Markets and Mandates: Retirement in Chile and the United States

By Manisha Padi Ordinary Americans are accustomed to a strict separation between private markets and public-benefits programs. Government programs, such as Social Security for retirees, disburse benefits to households without regard to the private options available to them. Conversely, private-market regulators, including the Securities and Exchange Commission, make rules about private retirement savings without accounting for public retirement benefits. The result is a disjointed experience for American retirees, whose public benefits are restricted by the Social Security Administration but whose...

June 3, 2022
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