December 2025
22Dec

Mexico Retirement Funds Log Record MX$1.12 Trillion Returns

Retirement savings for Mexican workers posted historic returns in 2025, as Administrators of Retirement Funds (Afores) recorded total gains—or plusvalías—of MX$1.12 trillion from January through November. According to data from the National Commission for the Retirement Savings System (CONSAR), this represents the highest level ever recorded for the period. Despite the record cumulative performance, the pace of growth in Afores’ returns moderated in November compared with previous months. Positive returns for the month totaled MX$32.608 billion, a 77% decline from...

December 22, 2025
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19Dec

UK. ‘Clarity and fresh uncertainty’: Pensions in 2025

UK pensions policy rarely stands still but 2025 delivered a flurry of reforms, consultations and political interventions. From the revival of the Pensions Commission to sweeping changes in the Budget, this year brought both clarity and fresh uncertainty for advisers. By the time we had reached December, it was clear that the big story of 2025 wasn’t one specific reform but the sheer volume of moving parts. One thing is clear: the pace of pensions reform is accelerating In May, 17 of the...

December 19, 2025
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16Dec

Big pension funds make progress on climate but much more needed, report shows

Major pension funds are increasingly adopting climate targets and shifting their strategy to respond to global warming, according to a new report on the sector. However, many still invest in fossil fuel companies and more regulation is needed so the industry contributes further to the net zero transition. The proportion of pension funds with at least one climate target jumped to 63% in 2024 from just 9% in 2020, according to the Climate Policy Initiative (CPI) thinktank. The CPI report...

December 16, 2025
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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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