February 2020

07Feb

Nigeria. Investing pension funds

Money saved by public and private sector workers in Nigeria for their pension under the National Pension Commission (PenCom) reached the N10 trillion mark in 2019, that is, after 15 years of consistent saving. The National Pension Commission, the regulatory body watching over private-sector pension entities that are the Custodians of the money and Pension Fund Administrators that operate like fund retailers, are the ultimate trustees of the pension money owned by about nine million Nigerians. The N10 trillion...

February 7, 2020
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January 2020

09Jan

Inside a Pension Fund’s Search for a Risk Management System

The LACERA investment team recommended MSCI’s risk analytics over competitors including BlackRock’s Aladdin system and FactSet. After a lengthy search, the investment team at the Los Angeles County Employees’ Retirement Association has settled on a new risk analytics provider. The investment team has recommended that its board hire MSCI Analytics to provide total fund analytics for the $59.6 billion pension fund, according to the agenda from a LACERA investment board meeting held on Wednesday. MSCI beat out rivals including FactSet and...

January 9, 2020
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08Jan

UK. Pension reform: Reckless bosses who plunder staff pensions to face seven years in jail

Reckless company bosses who plunder staff pension schemes will be jailed for up to seven years under proposed new laws introduced in Parliament last night. The Pension Schemes Bill will also trigger major reforms revolutionising retirement planning and boosting incomes by up to seven percent a year. Ministers said the package of measures would make Britain the “best place in the world” to retire. “With this Bill, we’re pushing ahead with our revolutionary pensions agenda and delivering for the millions of...

January 8, 2020
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03Jan

Pension Actuarial Mathematics

By Philip Martin McCaulay This 40-page publication on pension actuarial mathematics covers topics such as (I) interest and mortality, (II) cost methods, (III) amortization and contributions, and (IV) Duration and Convexity. Part I on interest and mortality includes mortality rates and survival functions, the theory of interest, commutation functions, and life annuity factors. Part II on cost methods includes the Unit Credit (UC) Cost Method, the Projected Unit Credit (PUC) Cost Method, the Entry Age Normal (EAN) Cost Method,...

January 3, 2020
Books, Investment, Pension design, Savings,
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03Jan

Ghana. SSNIT To Pay ¢243m Pension In 2020

The Social Security and National Insurance Trust (SSNIT) has announced it will pay pensions in excess of GH¢ 243 million this yearp. The amount represents an indexation rate of 11℅ for the year under review. Chief Actuary of SSNIT, Stephen Yeboah, made this known at a press conference on Thursday, January 2, 2020, in Accra. Read also Africa’s Biggest Fund Manager Needs CEO for $150 Billion Assets According to him, the 2020 indexation rate was determined using the percentage change...

January 3, 2020
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December 2019

18Dec

Pension Schemes in EU Show Big Shortfalls in Stress Test

A stress test of pension schemes across the European Union wiped out 270 billion euros ($298 billion) or almost a quarter of investments at funds that took part, the EU's insurance and pensions watchdog said on Tuesday. Many of the schemes were also not considering the impact of environmental, climate and social risks on their investment decisions, the European Insurance and Occupational Pensions Authority (EIOPA) said in a statement. Investments by the tested schemes in shares also showed a...

December 18, 2019
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10Dec

Asset & Wealth management Revolution

By PwC The world’s Asset & Wealth Management (AWM) industry has turned its eyes to the Latin American (LatAm) region, with many fund managers looking for growth in the burgeoning market. However, the fabric underlying the industry is set to be upended in the coming years as new clients enter the space and the existing, bank dominated, distribution model begins to face challenges as clients look for new, and cheaper, ways of buying products. While economic uncertainty in the region is...

December 10, 2019
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10Dec

Canada’s second largest pension fund gets deadly serious about climate crisis

As world leaders converge at this week’s climate summit in Madrid to debate how best to shift to a net zero-economy, Michael Sabia is leaving the helm of Canada’s second-largest pension plan having firmly placed Quebec’s retirement savings at the forefront of the global movement for low-carbon investing. Sabia, who recently announced he’s stepping down from the Caisse de dépôt et placement du Québec (CDPQ) in early 2020, ushered in a fundamental change in how the $326 billion Quebec...

December 10, 2019
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10Dec

UK. What does 2020 hold for pensions?

By Andrew Tully Many changes will be taking place in the world of pensions as we move towards the end of 2019 and into 2020. Ongoing regulatory developments seem inevitable, but nonetheless it is important for firms to be aware of what changes are due and what they will mean to clients. Wake-up packs New requirements to provide wake-up packs to clients were introduced on 1 November. Traditionally, these packs were issued between four and six months before the selected...

December 10, 2019
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09Dec

KPMG agrees to management buy-out of UK pensions division

KPMG has agreed a deal for the buy-out of its UK pensions division, which will continue to serve clients under the ownership of its current management team. The management buy-out is understood to have been backed by Exponent Private Equity, the private equity firm which entered into exclusive talks with KPMG for the purchase in October. In recent months, KPMG has been conducting a continuous restructuring of its UK operations. The Big Four firm sunk a £45 million investment...

December 9, 2019
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