August 2026

South Africa. Why Treasury’s unclaimed assets plan has retirement funds worried

Several financial industry representatives have welcomed proposals for centralised record management of South Africa’s nearly R90 billion in unclaimed financial assets, while raising concerns about the proposed transfer of unclaimed retirement benefits to the Corporation for Public Deposits (CPD). The CPD, a subsidiary of the South African Reserve Bank, manages deposits from public-sector entities. Industry experts have warned that retirement assets transferred to it may no longer enjoy the protections that currently apply under retirement fund legislation. The National Treasury discussion paper...

African Pension Funds shift more capital into private equity

Ghana is increasingly being recognised as one of Africa’s most credible examples of how domestic pension savings can be invested in more diverse alternatives and channelled into assets such as private equity, venture capital and SME growth financing. Ghana has spearheaded notable pension industry initiatives focused on shifting domestic capital pools towards the real economy, including GVCA’s 5% Pension and Insurance Industry Compact, launched in April 2025, Impact Investing Ghana’s Pension Industry Collaborative, and the $70m SME Fund of Funds...

BlackRock overhauls $1bn high-yield ETF duo for Nordic pension fund

BlackRock has switched the indices of euro and US dollar high yield corporate bond ETFs in favour of softer ESG credentials to suit the updated sustainability targets of a Nordic pension fund. The $582m iShares € High Yield Corp Bond ESG Paris-Aligned Climate UCITS ETF (HYPE) and the $423m iShares $ High Yield Corp Bond ESG Paris-Aligned Climate UCITS ETF (HYDP) will switch from tracking their respective versions of the Bloomberg MSCI Corporate High Yield Climate Paris-Aligned ESG Select index...

Look beyond funded ratios for hidden pension risks

Pension funding risk has evolved into a structural debt obligation — akin to an obligor's bonded indebtedness from a secondary credit consideration — having minimal impact on yield levels. Public pension fund risk assessment stands at the intersection of investment management practices and a municipal credit evaluation process for governments and revenue enterprises that prioritizes funding discipline and fiscal capacity. While funded ratios remain a key barometer of pension funding risk, they do not tell the full story. Beyond simply...

UK. Standard Life launches £2bn pension risk transfer partnership

Standard Life announced Thursday a pension risk transfer partnership backed by investments of up to £2 billion ($2.72 billion) with a consortium led by CVC and Prudential Financial to target large UK pension schemes. The partnership, called Standard Life PRT Solutions, will be funded through capital commitments of up to £2 billion over five years. Standard Life will contribute £500 million, while CVC committed £400 million. Other consortium members will provide the remaining funds. The consortium includes Goldman Sachs (NYSE:GS), MS&AD...

Malaysia’s pension fund investment income jumps 48 pct in H1

Malaysia's state-owned pension fund, the Employees Provident Fund (EPF), recorded investment income of 57.50 billion ringgit (14.16 billion U.S. dollars) in the first half of 2026, up 48 percent from a year earlier, helped by strong global equity markets, the fund said Monday. Investment income for the second quarter also rose 44 percent year-on-year to 29.77 billion ringgit, the retirement fund said in a statement. EPF Chief Executive Officer Ahmad Zulqarnain Onn said the fund benefited from strong global equity markets...

US. Milliman analysis: Multiemployer pensions’ aggregate funding level reaches 106% at midyear 2026, highest in study history

Milliman, Inc., a premier global consulting and actuarial firm, today released the midyear 2026 results of its Multiemployer Pension Funding Study (MPFS), an interim update to its annual study, which analyzes the funded status of all U.S. multiemployer defined benefit pension plans based on assumptions and data in the latest Form 5500 filings. As of June 30, 2026, Milliman estimates that the aggregate funded percentage of all multiemployer plans has reached 106%, up from 103% at year-end 2025. This is...

Canada. Nova Scotia Pension Services Corp. assets increase to $15.2 billion

The Nova Scotia Pension Services Corp. — which administers the investment assets of the Public Service Superannuation Plan and the Teachers’ Pension Plan — reported an increase in combined assets under management to roughly $15.2 billion, reflecting a year-over-year increase of about $800 million, according to the investment organization’s 2025/26 report. It noted the PSSP reported a net investment return of 6.55 per cent for the 2025/26 fiscal year, exceeding its 6.25 per cent actuarial assumed rate of return but...

State of Pensions 2026: 7th Annual Edition

By Equable Institute State of Pensions is Equable Institute’s annual report on the status of statewide public pension systems, put into a historic context. Governments face a wide range of challenges in general – and some of the largest are growing, and often unpredictable, pension costs. State of Pensions analyzes trends in public pension funding, investments, contributions, cash flows, and benefits for 253 of the largest statewide and municipal retirement systems in all 50 states to illuminate the scale and...

U.S. Public Pension Funds Consider AI for Productivity Uses

As artificial intelligence influences more day-to-day operations across investment organizations, public pension fund sponsors report being cautious about its use for investment functions and plan administration, according to a recent National Conference on Public Employee Retirement Systems study. The NCPERS research brief, “AI Adoption and Strategy in Public Pension Administration,” found that 58% of DB plan sponsor respondents reported being “optimistic or very optimistic” about AI’s impact on DB administration over the next decade. Some 63% of respondents cited a...