Pension Management Archives - Page 50 of 112 - Pension Policy International

24MayMay 24, 2023

UK. Savers miss out on £70,000 at poorly performing pension funds

Thousands of poorly-performing pension funds have been placed on notice by regulators as analysis reveals that savers are missing out on nearly £70,000 in lost investment returns. Nausicaa Delfas, the new boss of The Pensions Regulator (TPR), vowed on Tuesday to go after the trustees of struggling funds that are letting down their members. The Telegraph can separately disclose that average savers are missing out on tens of thousands of pounds in lost investment returns at conservative British pension funds, after...

May 24, 2023

NewsPension Management, savings, UK

24MayMay 24, 2023

Asset owners, managers sign biodiversity pledge

Stichting Pensioenfonds ABP, Heerlen, Netherlands, joined 14 asset owners and managers signing the Finance for Biodiversity Pledge Monday to commemorate World Biodiversity Day. The pledge calls for signatories to commit to map their biodiversity impact, set goals and targets, and disclose the results before 2025, along with collaboration and engaging with companies to halt and reverse nature loss. The €480 billion ($528.9 billion) pension fund is now one of 140 signatories representing a collective €19.7 trillion in assets from 23 countries. Other...

May 24, 2023

NewsESG, Pension Management

23MayMay 23, 2023

US. Major pension funds are steering big dollars to infrastructure

Major U.S. pension funds are increasingly turning to infrastructure for its solid risk-adjusted return profile and strong performance resilience. Since 2011, Pensions & Investments has tracked more than 950 infrastructures hires totaling more than $134 billion committed, paced by 148 hires and $17.7 billion committed in 2021. Maine Public Employees Retirement System, Augusta, is also drawn to infrastructure due to its ability provide diversification from the plan's public and private equity and fixed-income assets, said William Proom, managing director of investments...

May 23, 2023

NewsInvestment, Pension Management, US

23MayMay 23, 2023

Nigeria. PenCom registers 95,000 informal sector operators on CPS

The National Pension Commission (PenCom) said it has registered 95,045 participants on the Micro Pension Plan (MPP) of the contributory pension scheme (CPS) and recorded a total contribution of over N435.6 million as of last month. Head of the Micro Pensions Department, National Pension Commission (PenCom), Dauda Ahmed, said this in Lagos, at a workshop organised for Labour Writers’ Association of Nigeria (LAWAN). Ahmed, who spoke on ‘Facilitating Financial Inclusion in the Informal Sector through the MPP’, said the total withdrawals...

May 23, 2023

NewsNigeria, Pension Management, savings

22MayMay 22, 2023

US. Divesting fossil fuels looms larger for more funds

As the race toward renewable energy and away from fossil fuels to address climate change heats up, more pension funds may look at divestment, willingly or otherwise. According to a divestment commitment database maintained by Stand.earth, a climate action advocacy group, 1,591 organizations worldwide with a collective $40.51 trillion in assets have publicly committed to some level of fossil fuel divestment. Pension funds represent 11.7% of those commitments, compared with 35.8% from faith-based organizations, 15.7% from educational institutions and 11.9%...

May 22, 2023

NewsESG, Investment, Pension Management, US

19MayMay 19, 2023

UK. British Steel forges $3.4 billion buy-in to fully insure plan

British Steel Pension Scheme, Glasgow, Scotland, insured £2.7 billion ($3.4 billion) in liabilities through a buy-in with Legal & General Assurance Society, securing a buyout, according to a news release. The latest deal, which was the plan's fourth risk transfer deal since November 2021, covered the remaining 40% of liabilities and the benefits of all 67,000 plan participants. In 2017, the British Steel Pension Scheme was restructured after its plan sponsor, Tata Steel U.K., experienced financial difficulty. "Since the new scheme was...

May 19, 2023

NewsFunding, Pension Management, UK

18MayMay 18, 2023

US. Pension Funds Appear Unfazed by Potential US Default

With the X-date looming for when the U.S. government could default on its bonds and welch on paying other obligations due to the standoff over raising the federal debt ceiling, there is scant panic among pension plans. While they have little to say publicly about the prospect of a default, one CIO said, “We have enough liquidity to get through this, and we think [the impasse in Washington] will be resolved quickly.” Typically, plans exude an outward calm. A spokeswoman for...

May 18, 2023

NewsPension Management, Risk, US

17MayMay 17, 2023

US. Pension risk transfer market off to strong start this year

The U.S. pension risk transfer market had a very strong first quarter, with an estimated $6 billion in total volume, according to a report from Legal & General Group. The estimate exceeds the previous record for a first quarter set last year at $5.3 billion. Legal & General noted that PRT activity has traditionally been the slowest during the first half of the year and projects a total of $23 billion in volume for the first half of 2023. The...

May 17, 2023

NewsPension Management, Risk, US

16MayMay 16, 2023

UK Pensions Regulator refreshes its guidance for trustees on being prepared for sponsor distress

The UK Pensions Regulator has updated and re-issued its guidance for trustees of defined benefit pension schemes, urging them to be prepared for signs of sponsor distress. If trustees are ready to take protective action at an early stage, more options will potentially be available to them, which should maximise their ability to protect members’ interests. The guidance was first issued during the Covid-19 pandemic in November 2020, and we previously reported on it here. The revised version appropriately moves...

May 16, 2023

NewsPension Management, Regulation, UK

11MayMay 11, 2023

US. Senate passes bill banning state’s pension, investment funds from ESG considerations

The Ohio Senate sent to the House on Wednesday a bill that would prohibit managers of the state’s five pension systems and other investment funds from choosing investments based on their social, environmental and corporate governance goals. ESG principles consider companies’ and funds’ policies affecting the environment and climate. Social goals include how a company treats its employees, suppliers and customers. Governance policies require an examination of corporate leadership, executive pay, shareholder rights and internal controls. Recently, Republicans across the country...

May 11, 2023

NewsESG, Pension Management, US

May 2023