August 2022
31Aug

UK. Pensions industry urged to join forces to address adequacy concerns

The pensions industry has been urged to work together to reach a consensus on how to deal with the issue of under saving, after a report from B&CE found that 61 per cent of households and nearly two thirds (63 per cent) of individuals aren’t saving enough for retirement. The analysis, based on data from the ONS Wealth and Assets Survey, found that 68 per cent of Generation X workers aren’t saving enough, rising to 76 per cent amongst Millenials,...

August 31, 2022
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30Aug

Vanguard moves a third of $25.4 billion high-yield fund in-house

Vanguard Group has shifted management of one-third of the assets of its Vanguard High-Yield Corporate Fund to its internal fixed-income group from Wellington Management, which will continue to manage the remaining two-thirds. The High-Yield Corporate Fund had $25.4 billion in total net assets as of July 31, according to Vanguard's website. Wellington previously managed the entire fund. Jessica Schifalacqua, a spokeswoman for Vanguard, said by email that the fixed-income group's "long-term and disciplined approach is a natural complement to Wellington Management...

August 30, 2022
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29Aug

Nigeria. PenCom to provide health insurance for micro pension contributors

The National Pension Commission (PenCom) says it is planning to provide incentives to contributors under the micro pension plan (MPP). The commission said incentives such as health insurance would increase participation in the scheme. Aisha Dahir-Umar, director-general of PenCom, said this at a recent workshop for journalists in Abuja. Dahir-Umar said the MPP was implemented to curb old-age poverty by assisting informal sector workers, including small-scale businesses, entertainers, professionals, petty traders, and others. Also you may interesting in Japan’s GPIF joins GRESB as infrastructure...

August 29, 2022
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26Aug

Mercer’s Asia Retirement Survey Report

By Mercer Conducted over 2019 to 2021, this series leverages our client base across Asia, and aims to bring together common issues in retirement security that Asia business leaders, HR and Finance partners can take action on. In combination, we have surveyed views from more than 700 employers from all industries, with responsibility for the well-being of over 120,000 employees. Get the report here

August 26, 2022
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24Aug

What we can learn from the world’s largest sovereign wealth fund

IF you’re cautious about where stock markets are headed next, you’re in good company. Norway’s sovereign wealth fund - the largest in the world - has reported it had a challenging time in the first half of the year and its chief executive Nicolai Tangen is unconvinced the bear market for shares is over quite yet. So what can we learn from this? Norway’s sovereign wealth fund was started in 1996 in order to invest the proceeds of a burgeoning...

August 24, 2022
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23Aug

New York City pension fund returns plunge in difficult year

The five pension funds within the $239.5 billion New York City Retirement System each posted negative returns for the fiscal year ended June 30, ranging from -7.17% to -9.77%, according to data posted on the website of Brad Lander, the city comptroller and fiduciary for the five pension funds. The individual pension fund results are in sharp contrast to the returns for the fiscal year ended June 30, 2021 when all posted net results ranging from 24.8% to 28%. Mr. Lander reported...

August 23, 2022
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19Aug

Canadian pension fund CDPQ explores legal options over failed crypto firm

Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) is exploring legal options over bankrupt crypto lending firm Celsius and will no longer invest in crypto firms, it said on Wednesday. CDPQ's statement came as the fund recovers from its failed investment in New Jersey-based Celsius, which filed for bankruptcy in July less than a year after it received an investment of $150 million from the fund. "We will preserve our rights and explore legal options," CDPQ Chief...

August 19, 2022
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17Aug

UK. Transfer volumes could hit £600bn as insurers post strong results

A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector. Read more Older people face losing €1,532 in spending power by end of year Of those that have released their results so far, Aviva saw bulk annuity sales increase by 15 per cent, rising to £1.9bn, which compares with £1.6bn...

August 17, 2022
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16Aug

Tough Times Ahead Warns CEO of Australia’s Largest Pension Fund

Consumers and businesses will continue to struggle as global policy makers battle to get inflation under control, the head of Australia’s largest pension fund told a media forum. “Our view is that there are some pretty tough times ahead,” Paul Schroder, chief executive officer of the A$260 billion ($182 billion) AustralianSuper Pty, said on Tuesday. “We think we are in a continually tight environment. The question now is what is the rate of that tightening and is there a pivot around...

August 16, 2022
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15Aug

Japan’s GPIF eyes more alternatives after promising returns

After joining alternatives investment rush relatively late, Japan’s Government Pension Investment Fund (GPIF) is now speeding up its allocation to the asset class after solid initial performances. As of end June 2022, alternative investments made up 1.32% of the ¥193 trillion ($1.5 trillion) portfolio, amounting to ¥2.548 trillion. The alternatives portfolio was up from ¥1.456 trillion a year before, an increase of about 75% in one year. While growth might not continue to be as rapid, GPIF is advertising for new...

August 15, 2022
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