Regulation Archives - Page 34 of 81 - Pension Policy International

21JulJuly 21, 2023

How the 1963 Equal Pay Act and 1964 Civil Rights Act Shaped the Gender Gap in Pay

By Martha J. Bailey, Thomas E. Helgerman & Bryan A. Stuart In the 1960s, two landmark statutes—the Equal Pay and Civil Rights Acts—targeted the long-standing practice of employment discrimination against U.S. women. For the next 15 years, the gender gap in median earnings among full-time, full-year workers changed little, leading many scholars and advocates to conclude the legislation was ineffectual. This paper uses two different research designs to show that women’s relative wages grew rapidly in the aftermath of this...

July 21, 2023

Articles, Labor Market2023, Gender Gap, Regulation, US

19JulJuly 19, 2023

Hungary wants to curb pension rights of transgender women

From a hefty fine on a bookshop for selling a novel on which a hit Netflix series is based, to curbing the pension rights of transgender women, Hungary is toughening measures against the LGBTQ community, long a target of Prime Minister Viktor Orban. Meanwhile, a new government amendment is seeking to exclude transgender women from pension rules that allow women to retire earlier than men. "It is inconceivable that those who suddenly identify as women after 39 years of working as...

July 19, 2023

NewsEquality, Public Policy, Regulation

19JulJuly 19, 2023

US. ERISA Advisory Council Highlights Trends in Pension Risk Transfers

Shaun O’Brien, the chair of the ERISA Advisory Council, summarized many of the trends in the pension risk transfer market and commonly expressed concerns from pension fiduciaries and stakeholders at a hearing the council hosted Tuesday at the Department of Labor. The hearing was held to discuss possible changes to Interpretative Bulletin 95-1, which requires that pension fiduciaries select the safest annuity providers when executing pension risk transfers. Considering modifications to IB 95-1 was required by Section 321 of the...

July 19, 2023

NewsRegulation, Risk, savings, US

18JulJuly 18, 2023

US. New York City pension chief urges pay clawbacks at Bank of America

New York City's top pension official has urged Bank of America's (BAC.N) board to claw back pay from executives after the bank agreed to pay $250 million to settle regulatory claims that it double-charged customers and took other steps without authorization. Since the financial crisis of 2008, provisions to recover pay have been strengthened at top U.S. banks to limit risk-taking. Bank of America did not admit wrongdoing in its July 11 agreements with the Consumer Financial Protection Bureau (CFPB)...

July 18, 2023

NewsRegulation, US

12JulJuly 12, 2023

Britain’s £50 billion pensions gamble provides ‘no guarantees’ for savers

Britain’s financial services industry has broadly cheered fresh government proposals to jump-start the economy by channelling £50 billion (US$64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said. Finance minister Jeremy Hunt on Monday unveiled a raft of reforms aimed at redirecting a greater proportion of a £4.6 trillion pool of capital managed by Britain’s pensions and insurance sectors into unloved UK assets by 2030. The so-called Mansion House Reforms follow years of...

July 12, 2023

NewsInvestment, Regulation, UK

07JulJuly 7, 2023

Pensions for all. Proposals for more inclusive pension systems in Latin America.

Edited by David Tuesta y Gautam Bhardwaj One of the pending tasks in Latin America is the development of a pension system that is widely accessible, sufficient and financially sustainable over time. Beyond the different degrees of progress in each of the countries, they all face similar internal and global challenges. In particular, the problems of high informality of institutions and labor markets make the road even more uphill. The recent Covid19 pandemic scenario has highlighted the structural weaknesses of pension...

July 7, 2023

Books, Books, Pension design2023, Coverage, Financial Inclusion, Latin America, Public Policy, Regulation

06JulJuly 6, 2023

Kenya. Treasury plans to go after counties over pensions debt

The National Treasury and Kenya Revenue Authority (KRA) have trained their guns on counties that have failed to remit statutory deductions to pension schemes. With the non-remittances hitting Sh90.69 billion in May, Treasury is now mulling deducting the outstanding arrears directly from the counties equitable share of revenue and the taxman engaged to collect the debt. Appearing before the Senate’s County Public Investments and Special Funds Committee, Treasury Cabinet Secretary Njuguna Ndung’u said that in consultation with the Retirement Benefits Authority,...

July 6, 2023

NewsRegulation, supervision

26JunJune 26, 2023

EIOPA says national supervisors need more data on liquidity risks

Pension funds and insurers in Europe are holding up well in spite of higher financial stability risks, according to a new report from the European Insurance and Occupational Pensions Authority (EIOPA) – but the body also said national supervisors need more data on liquidity and other risks to make sure buffer requirements are adequate. Publishing its June 2023 Financial Stability Report today, Frankfurt-based EIOPA said the European economy was currently experiencing a new period of high uncertainty and elevated financial...

June 26, 2023

NewsEU, Regulation, Risk, supervision

22JunJune 22, 2023

UK. Pension policy risks being ‘stuck in a previous era’

Pension policy risks being 'stuck in a previous era' rather than reflecting the realities of scheme funding levels today, according to LCP partner Steve Webb. Giving evidence to the Work and Pensions Select Committee, Webb pointed out that back in 2014. the combined deficit of DB pension schemes stood at nearly £400bn. This is in stark contrast to the latest figures which show a surplus of over £400bn. "For many of our clients, the issues we are now discussing are about managing...

June 22, 2023

NewsPublic Policy, Regulation, UK

16JunJune 16, 2023

US. DOL working on updated fiduciary rule, SECURE 2.0 provisions

The Department of Labor's Employee Benefits Security Administration is aiming to release a rule proposal on fiduciary investment advice in the coming months and is working on a host of rules related to SECURE 2.0, according to its latest semiannual regulatory agenda. The agenda outlines EBSA's short-term and long-term priorities and notes it's working on seven items in the pre-rule stage, 10 in the proposed rule stage and three in the final rule stage. EBSA agendas in recent years have indicated...

June 16, 2023

NewsRegulation, savings, US

July 2023

June 2023