January 2021

29Jan

Australia’s pension assets fall for first time since 2009- regulator

Australia’s pension assets decreased for the first time in a decade in the financial year ending June 2020, as workers withdrew on their savings to weather the coronavirus crisis, the sector regulator said in a report on Friday. Total assets in superannuation funds, as retirement funds are called in Australia, were A$2.9 trillion ($2.2 trillion) at June 30, down 0.41%, after growing every year since 2009 from A$1 billion, the Australian Prudential Regulation Authority (APRA) said. Lump sum payments...

January 29, 2021
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October 2020

26Oct

Chileans vote to change their constitution in hopes of better pensions and socioeconomic equality

Chileans have overwhelmingly voted to rewrite the South American country's dictatorship-era constitution, which its critics see as favouring deep levels of socioeconomic inequality that fuelled a wave of violent protests in 2019 and 2020. With 90.78 per cent of polling stations counted, 78.24 per cent voted in favour of a new constitution, while 21.76 voted against, according to figures released by the Electoral Service on Sunday night, (Monday AEDT). Read also Jamaica. Alternative investments a must for the modern...

October 26, 2020
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September 2020

18Sep

Revised Mercer U.S. Pension Buyout Index Methodology Shows That Costs of Annuity Buyouts Could Be Less Than Accounting Liability

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh & McLennan (NYSE: MMC), announces that the costs associated with annuity buyouts may be increasingly attractive, as Mercer data indicates that a hypothetical retiree buy-out transaction may cost 97.7% of the plan’s accounting obligations1. The discovery comes following enhancements introduced by Mercer to its U.S. Pension Buyout Index (the “Index”). Originally launched in...

September 18, 2020
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18Sep

COVID-19 and pensions in Latin America

By Ernesto Brodersohn In the last 2020 edition of “G7 Pensions LT Investment Summit. Modern Asset Allocation, ESG & Inclusive Growth” I was invited to deliver some remarks on the current situation of Pension Systems in Latin America in the juncture with the health and economic crisis of the COVID-19 pandemic. This sparked a quick updated stocktaking over the latest responses that different jurisdictions have been applying to pension schemes throughout the region. Over the past couple of months pension systems...

September 18, 2020
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April 2020

22Apr

Ireland. Over 1 MILLION people now claiming social protection payments

The number of people now claiming some form of social protection payment has exceeded 1m after another 50,000 people received the COVID-19 Pandemic Unemployment Payment. The Department of Employment Affairs and Social Protection has issued the €350 weekly payment to 584,000 people who have lost their jobs as a result of the coronavirus, adding to the 212,000 people in the Live Register. A further 46,000 employers have signed up to the newly expanded wage subsidy scheme, with over 281,200...

April 22, 2020
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July 2019

19Jul

EU Pension Law

By Hans Van Meerten EU pension law is a relatively new and rapidly growing field. The call for a broader practical understanding of EU pension law is growing, as pension markets are increasingly internationalized. The handbook EU Pension Law discusses the most important financial EU legislation (IORP and PEPP) and non-financial legislation (such as the Charter of Fundamental Rights of the European Union) and its consequences for pensions. The book contains a collection of relevant articles and offers necessary...

July 19, 2019
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July 2018

31Jul

Nigeria nets $26,6b in pension funds

The National Pension Commission (PenCom) said that the total pension fund assets stood at $26.6 billion (about N8.14 trillion) as at May, 2018.The Commission said in a statement signed by its spokesman, Mr. Peter Aghahowa, on Sunday in Abuja that the assets rose from $24.5 billion in December 2017, to $26.6 billion in May 2018. It also said that $16.9 billion had been invested in Federal Government Securities by the Pension Fund Administrators (PFAs). According to the statement, the investment represented...

July 31, 2018
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