December 2025
16Dec

November Delivers Mixed Results for Pension Finances

Pension finances experienced a modest pullback in November, marking the first negative month since March, according to October Three Consulting’s “November Pension Finance Update.” Meanwhile, some measures reported a small increase in funding levels over the same period. Both model plans October Three tracks lost ground last month. Plan A, a traditional 60/40 equity/bond allocation, lost almost 1%, ending November up 6% for the year. The more conservative Plan B, comprised of 80% bonds, lost a fraction of 1% last...

December 16, 2025
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12Dec

UK. Willis Towers Watson to acquire pensions and savings provider Cushon

Global advisory, broking and solutions firm Willis Towers Watson (WTW) has announced that it will acquire workplace pensions, savings and financial wellbeing provider Cushon from Natwest Group. The acquisition is subject to regulatory approval and is anticipated to close in the first half of 2026. It will add 730,000 members to WTW’s portfolio and see an additional £4 billion in assets under management from Cushon. The deal will bolster WTW’s position in the UK defined contribution (DC) master trust space, enhance capabilities and...

December 12, 2025
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03Dec

UK. People’s allocates £3.6bn to emerging markets with new mandate

The People’s Pension has awarded a £3.6bn emerging markets mandate to Robeco – the latest in several investment strategy changes as it gears up for a period of growth. The £38bn master trust has shifted to an active, quantitative investing approach as part of the move, it said in a press release. The allocation was previously passive and run by State Street. People’s said the new mandate ensured “greater alignment with the scheme’s evolving responsible investment policy”, as well as aiming for...

December 3, 2025
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01Dec

UK pension schemes ignoring climate change responsibilities

That vast majority of the UK's largest pension schemes are failing to directly engage with large investee companies on their role tackling climate change. After analysing the 16 largest pension schemes, managing over £34bn in assets, ShareAction found that only Nest and TPT Retirement Solutions directly engage with big companies on climate risks. This is despite new regulations requiring pension funds to publish policies on how they incorporate environmental, social, and governance (ESG) issues in their investments. It was also found that the majority...

December 1, 2025
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November 2025
21Nov

Enhancing Efficiency of Pension Schemes through Effective Risk Governance: A Kenyan Perspective

 By Sylvester Willys Namagwa The efficiency of pension schemes in Kenya invites elevated interest owing to the increasing pension contribution amounts and the expectation that benefits paid out of these schemes would protect members from old age poverty. The study investigates the intervening effect of risk management on the relationship between corporate governance and the efficiency of pension schemes in Kenya. The study employs panel data consisting of 896 observations from 128 schemes in a sample period from 2015 to...

November 21, 2025
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19Nov

Milliman analysis: Competitive pension risk transfer cost declines to 100.1% during October

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). During October, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.5% to 100.1% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO). That means the estimated retiree PRT cost is now 100.1% of a plan’s ABO. During the same time period, the average annuity purchase cost across all insurers...

November 19, 2025
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14Nov

The Nucleus UK Retirement Confidence Index 2025

By Nucleus Retirement is one of the most significant milestones in life, yet for many people across the UK it carries as much uncertainty as it does anticipation. Our Retirement Confidence Index offers a unique, in-depth look at attitudes, expectations, and concerns surrounding retirement across the UK at different life stages. Whether you're refining your client communications or shaping your advice proposition, these insights can help you stay ahead of your clients' expectations and build deeper trust. Surveying over 4,300 UK adults,...

November 14, 2025
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11Nov

Mexico. Retirement Savings Consolidate Their Weight in the Economy: They Now Amount to 22% of GDP

The AmAfore 2025 meeting will take place on November 12 and 13, and its program confirms the growing prominence of retirement savings in the global conversation on investments, private credit, and infrastructure. With the participation of international leaders such as Scott Kleinman (Apollo), Michael Rees (Blue Owl), Michael Smith (Ares Credit Group), and Kirk Smith (GTCR), the event highlights Mexico’s role as a bridge between local institutional capital and major global asset managers. The presence of the AFOREs, along with Banxico, Hacienda, and CONSAR, reflects the interest in strengthening the sophistication...

November 11, 2025
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07Nov

Hidden in Plain Sight: Physical Risk in Asset Owners’ Portfolios

By Xinxin Wang, Jascha Lehmann, Russ Bowdrey & Lisa Eichler Corporate asset locations are a critical source of financial-risk intelligence for investors. More so when coupled with powerful overlays related to physical climate risk. MSCI’s new study, conducted in collaboration with Swiss Re Risk Data Solutions, analyzed more than 11,000 companies and 500,000 physical assets underpinning the listed-equity portfolios of 18 leading asset owners, representing USD 4 trillion in AUM. Location isn’t just geography, it’s financial risk exposed. The location of companies’...

November 7, 2025
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07Nov

US. Federal Guarantees Should Continue After Pension Risk Transfers

Nationally recognized ERISA attorneys Kevin O'Brien and Spencer Walters of Ivins, Phillips & Barker (IPB) have released a new white paper, "The Forgotten Promise: Why PBGC Retirement Benefit Guarantees Should Continue After Pension Risk Transfer Transactions."  Their paper challenges the Pension Benefit Guaranty Corporation's decades-old position that retirees lose federal protection once pensions are converted to annuities – a stance the authors argue contradicts the statute, legislative history, and the PBGC's own original interpretation. The paper traces how, in 1981, the PBGC took the...

November 7, 2025
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