March 2020

10Mar

What the coronavirus market fall means for UK pensions

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. The stock market rout means someone who had accumulated £250,000 in their pension scheme at the start of this year will have seen it shrivel to about £225,000 on Monday. Holders of final salary-style pensions, mostly in the public sector, lose nothing...

March 10, 2020
News, Slider, , , ,
Read more...
10Mar

Norway’s Pension Giant Calls for Improved ESG Metrics

Norway’s $1.07 trillion Government Pension Fund Global, which owns stakes in more than 9,200 companies and owns 1.5% of all listed stocks, is pressing the companies it invests in to provide more tangible data regarding environmental, social, and governance (ESG) issues. The fund said it’s no longer enough to hear promises of responsible investing, and that it’s time for companies to start providing hard data to show they’re being true to their word. “In recent years, we have...

March 10, 2020
News, Slider, , , ,
Read more...
09Mar

Growing Coronavirus Epidemic Is Straining Europe’s Health-Care System

Doctors say the continent is ill prepared to face a worsening coronavirus outbreak, with shortages of equipment including protective gear and hospital beds. 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. The Italian government on Sunday started to enforce a lockdown of some northern regions including the cities of Milan and Venice in a bid to...

March 9, 2020
News, Slider,
Read more...
09Mar

Climate: pension schemes are policy change enablers

The Private Pensions and Arm’s Length Bodies and The Pensions Regulator have set out how climate change risk should be incorporated into their work, following the publication of the UK government’s Green Finance Strategy in July 2019. The Pensions Regulator has an important role to play within the UK Government’s Green Finance Strategy to help pension funds deal with the material financial risks arising from climate change. This was the subject of correspondence between the Director of Private Pensions and Arm’s...

March 9, 2020
News, Slider,
Read more...
07Mar

Employee Representation and the Risk of Corporate Pension Plans

By Nicola Heusel We analyze the effect of direct labour representation in supervisory boards on the risk of corporate pension plans.We exploit employee representation requirements mandated by German labour law and find that firms with parity employee representation reduce pension plan risk both in terms of funding as well as in terms of investment risk. Source: SSRN

March 7, 2020
Articles, Labor Market, , ,
Read more...
06Mar

Romania adds fourth pillar in the legal framework for pensions

Until February 2020, the Romanian legal framework regarding pensions followed the three-pillar model generally promoted by the World Bank. However, a recent enactment (i.e. Law no. 1/2020 on occupational retirement provisions) that entered into force on 7 February 2020, transposing Directive no. 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision, has introduced a fourth pillar into Romania’s legal framework on occupational retirement provisions....

March 6, 2020
News, Slider, ,
Read more...
06Mar

UK. PLSA Calls for Pensions to Hold Companies Accountable for Climate Change

In its updated annual stewardship and voting guide, the UK’s Pensions and Lifetime Savings Association (PLSA), whose members are responsible for approximately £1 trillion ($1.28 trillion) in pension assets, said plan investors need to hold the directors of the companies they invest in accountable for the way they manage climate change risks. The guidelines are intended to be a resource to provide pension trustees with practical guidance when considering how to exercise their votes at annual general meetings. The...

March 6, 2020
News, Slider, , , ,
Read more...
06Mar

BBC coronavirus UK warning: Pensioners face ‘rapid increase’ in risk of death from illness

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". The Government chief scientific adviser stated that this was due to the likelihood of people over the age of 80 to have co-existing illnesses in comparison to any other demographic. Sir Patrick Vallance said: "Older people are vulnerable to all sorts of...

March 6, 2020
News, Slider, , , , ,
Read more...
05Mar

Gender pay gap in Europe: facts and figures

This year marks 25 years since the adoption of the UN’s Beijing Declaration aimed at the advancement of women around the globe, the 10th anniversary of UN Women - dedicated to gender equality and the empowerment of women - and five years since the adoption of the Sustainable Development Goals, one of which is gender equality. So where do we stand? Progress has been made, but inequality between men and women persists, including on the labour market. On average,...

March 5, 2020
News, Slider, ,
Read more...
05Mar

UK. Record Numbers Saving into Workplace Pensions

More than three-quarters of British employees are now members of a workplace pension scheme, according to new figures from the Office for National Statistics. And for the first time, occupational defined contribution (DC) pensions have overtaken all other types of pension, including defined benefit (DB) or final salary schemes. The proportion of employees in a workplace pension hit 77%, the highest since comparable records began in 1997 – it marks a huge advance on the 47% in these schemes...

March 5, 2020
News, Slider, , , ,
Read more...