September 2022
14Sep

Prudential and MetLife entrusted to fulfill $16B in pension obligations for 100,000 IBM retirement plan participants and beneficiaries

Prudential has been selected to participate in a $16 billion pension risk transfer transaction with International Business Machines Corporation (IBM), the second-largest pension risk transfer ever in the U.S. market. Under the terms of the agreement, The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), and Metropolitan Life Insurance Company (MLIC), a subsidiary of MetLife, Inc. (NYSE: MET), will each insure 50% of the pension benefit payments for each of the approximately 100,000 IBM...

September 14, 2022
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14Sep

UK. Communications around pensions branded ‘as dull as dishwater’

Business magnate Deborah Meaden urges companies to up their game Poor communications that fail to engage people with their pension savings are hampering both the uptake of greener pension options and companies’ willingness to promote them, says Deborah Meaden. Speaking at a Make My Money Matter (MMMM) event yesterday (12 September) the entrepreneur and businesswoman said companies "need to open about their definition of sustainability". Meaden appeared alongside MMMM co-founder and film producer Richard Curtis where she discussed her long-standing commitment to...

September 14, 2022
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09Sep

Dutch pension funds sell $92.3 billion in assets, partially related to interest-rate hedges

Dutch pension funds sold €88 billion ($92.3 billion) in assets in the first six months of the year, in part to meet payments required under derivatives contracts, De Nederlandsche Bank said. Pension funds using derivatives contracts to hedge against interest rate rises have faced increased collateral calls due to rising rates, since the price of bonds has fallen in tandem. DNB said in an update Thursday that pension funds contributed €82 billion to margin accounts in the first six months of...

September 9, 2022
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09Sep

South Africa. EPPF confirms repayment of R30m in Brian Molefe pension order

Molefe is applying for leave to appeal the high court judgment requiring him to return R10m to the fund, possibly delaying resolution of the matter: Lorato Aphiri – Legal Advisor, Eskom Pension and Provident Fund. FIFI PETERS: Let’s shift on to the latest happenings coming out of the Eskom Pension and Provide Fund. They’ve said that the former Eskom boss, Brian Molefe, is still not paying back the money that is owed to the pension and provident fund. This relates...

September 9, 2022
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09Sep

Designing Successful Target Date Strategies for Defined Contribution Plans

By Schaus, Gross The ultimate guidebook for navigating the new world of pensions and retirement plans In the wake of the explosive growth of defined contribution (DC) plans invested with target date strategies, and the understanding of how important these strategies can be in effectively meeting retirement income goals, plan sponsors are seeking more optimal target date approaches. This timely book provides you with in-depth answers from the nation's most qualified and experienced experts to pressing questions about DC plan design. Read...

September 9, 2022
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07Sep

Reducing portfolio volatility is top priority for European pension funds

European pension funds say reducing absolute portfolio volatility is their top risk management priority, as geopolitical tensions and high inflation continue to impact global investment markets. This is according to new research from Alpha Real Capital. Nearly half (46%) of European pension fund professionals interviewed, who collectively manage €324 billion in assets under management, say increasing portfolio diversification is their top strategic asset allocation priority. Meanwhile, more than a quarter (28%) of respondents say their priority is to increase expected...

September 7, 2022
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06Sep

Strong dollar boosts some plans, but hurts others

A stronger dollar made U.S. funds the standout performers in Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute's latest tally of the world's 300 largest retirement funds, and made itself felt across a range of key survey results. For example, in prior surveys, bigger retirement funds consistently outperformed smaller funds. And for the five years ended Dec. 31, the 20 biggest retirement funds had annualized gains of 8.8%, ahead of the broader 300's 8.5% gains. But with currency...

September 6, 2022
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06Sep

The world’s largest retirement funds: 2022

Ranked by total assets, in millions. U.S. fund data are as of Sept. 30, 2021, from the P&I 1,000, published Feb. 14; non-U.S. fund data are as of Dec. 31, unless otherwise noted. Defined benefit and defined contribution breakouts were not available or applicable to all non-U.S. funds. Rank Fund Country Assets DB assets DC assets 1 Government Pension Investment Japan $1,730,900 $1,730,900 2 Government Pension Fund Norway $1,437,111 3 National Pension South Korea $797,968 $797,968 4 Federal Retirement Thrift U.S. $774,176 $774,176 5 ABP Netherlands $630,358 $630,358 Read More @Pionline 565 views

September 6, 2022
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05Sep

$23.6 trillion in assets sets record for plans

World's largest retirement plans grow 8.9% as the era of easy money ends Assets of the world's 300 largest retirement plans rose 8.9% last year to a record $23.6 trillion, in what could prove a bittersweet end to an unprecedented era of easy money, according to the latest annual survey by Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute. Last year's healthy gain was smaller than the 11.5% surge logged in 2020, when policymakers around the world put...

September 5, 2022
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August 2022
31Aug

US. Pension officials want Visa and Mastercard help track suspicious gun purchases

Top New York City and California pension officials want payments processors Visa Inc, Mastercard Inc and American Express to create a new tool to track suspicious gun purchases. Staff for New York City Comptroller Brad Lander, who oversees pension funds, said he has filed shareholder resolutions at Mastercard and American Express asking their boards to explain their views on whether to add a new "merchant category code" for firearms stores. Lander and a California State Teachers' Retirement System portfolio manager made...

August 31, 2022
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