January 2024
10Jan

UK. Morningstar expects up to 300 funds to opt for sustainability label

Up to 300 funds are expected to assign themselves a sustainability label this year, as part of new rules from the UK’s financial regulator. In November, the Financial Conduct Authority (FCA) unveiled a labelling regime for investment products wishing to market themselves as considering environmental and social issues. It identifies four legitimate approaches, including targeting real-world impact and supporting companies that are transitioning to more sustainable practices. A report published today by research house Morningstar predicts that “about 300 UK open-...

January 10, 2024
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10Jan

Why Retirement Gets Better With Annuities

Everyone aspires to have a steady source of income after retirement that replaces as much as possible of their pre-retirement earning. But for many people, one big challenge in saving for that goal is to find the right financial product that accommodates their specific requirements, such as when they want to retire or how much more they need over and above their Social Security benefits. A new research paper by experts at Wharton and elsewhere solves that challenge with a...

January 10, 2024
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09Jan

UK Gov Aids Clients to Balance Pensions

Experts at the Government Actuary's Department (GAD) have been supporting clients as they work towards fully equalising pensions for their members. We have devised a modeller to assist in the process. Legal rulings The issue of guaranteed minimum pension (GMP) equalisation dates to May 1990 when the Barber judgment ruled on the matter. This applies to pensions including GMP accrued between 17 May 1990 and 5 April 1997. The 2018 legal case in Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank PLC and others, provided...

January 9, 2024
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December 2023
15Dec

Priorities for social security Global 2022 Trends, challenges and solutions

By International Social Security Association The report Priorities for social security – Global 2022: Trends, challenges and solutions presents a global perspective on social security developments and trends, challenges and innovations, based on the series of reports for Africa, the Americas, Asia and the Pacific, and Europe. The global report is presented in a new and interactive format, a digital, web-based publication that allows members of the International Social Security Association (ISSA) to easily navigate between sections of interest. The...

December 15, 2023
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15Dec

Annuities Are Back in Favour

"In an environment of high market volatility and high interest rates, life annuities are an option to consider again," says Spencer Look, director at the Morningstar Center of retirement and policy studies in Chicago. "Interest rates, he continues, are allowing annuity income levels not seen since the mid-2000s." The figures in Quebec confirm this, showing an increase of 17.7% between 2021 and 2022. Of the six main product categories listed in the 2022 Annual Report on Financial Institutions and Credit...

December 15, 2023
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07Dec

Could the retirement pension be making a comeback?

Why news from IBM and talk of 'lifetime income' may lead to alternatives to traditional 401(k)s Remember the "three-legged stool?" That phrase was used for decades to describe Americans' chief sources of retirement income: Social Security, private pensions and personal savings. But in the 1990s and early 2000s, employers started freezing or eliminating defined-benefit pensions they funded and replacing them with 401(k) retirement plans requiring employee contributions. As a result, the stool got wobbly. Today, just 15% of private employers offer...

December 7, 2023
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06Dec

UK. Decumulation-only CDC could provide ‘new possibilities’ for retirees – PPI

Decumulation-only collective defined contribution (CDC) pensions could offer new opportunities in the retirement income market and to retirees, but faces challenges in being successful, according to a new report from the Pensions Policy Institute (PPI). It noted that decumulation-only CDC schemes should be able to fulfil their objectives while operating under the current design constraints. CDC schemes were introduced in the Pension Schemes Act 2021 and the PPI believed the legislation was flexible enough to support other applications for CDC schemes. However,...

December 6, 2023
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November 2023
24Nov

Population Aging and the Generational Economy: A Global Perspective

By Ronald Lee & Andrew Mason Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result...

November 24, 2023
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17Nov

The National Landscape of State Retirement Benefits

By Jonathan Moody & Anthony Randazzo   Retirement security is ultimately about retirement income. Families and individuals want to know that during their retirement years they will have enough weekly, monthly, or annual income to live comfortably and meet their basic needs. Of course, many people aspire to more than just the basics. Ask even a handful of individuals about how they want to live in retirement, and you’ll hear a wide range of preferences. Expenses can vary from family-to-family, too,...

November 17, 2023
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17Nov

AI and Retirement – How It Will Affect Your Retirement Savings

By Carolyn Young  Artificial Intelligence (AI) is impacting humans more than any of us realize. It’s being used by marketers to gain customer insights, by manufacturers to automate processes, and by many businesses to analyze data and improve efficiency. AI’s ability to rapidly analyze large amounts of data has also given it a huge role in the financial industry, and thus can impact your retirement savings in a variety of ways. In fact, AI is being used most by the banking...

November 17, 2023
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