May 2026
21May

Bulgaria. Regulator Proposes Higher Pension Fund Reserves, Stronger Safeguards for Insured Persons

Bulgaria's Financial Supervision Commission (FSC) has approved at first reading draft ordinances on higher reserve requirements for pension insurance companies and stricter rules for protecting insured persons' funds, the regulator said on Tuesday. The changes follow up on amendments to the Social Insurance Code and concern the introduction of multi-funds in supplementary pension insurance. Higher reserves to guarantee contributions The most significant change concerns higher capital coverage requirements due to the continued growth of assets managed by pension funds. Currently, the gross...

May 21, 2026
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13May

US. Labor unions oppose Senate crypto bill ahead of Thursday committee markup: report

Five labor organizations urged the U.S. Senate to oppose the pending crypto market structure bill, warning that the legislation would expose worker retirement accounts to cryptocurrency volatility. The opposing groups include the AFL-CIO, Service Employees International Union, American Federation of Teachers, National Education Association, and American Federation of State, County and Municipal Employees, CNBC reported Tuesday. According to CNBC, SEIU, AFT, NEA, and AFSCME wrote in a previously unreported May 9 letter that the bill “jeopardizes the stability of workers’ retirement plans, including...

May 13, 2026
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12May

Streamlining the risk transfer process: it’s harder than you might think

Ahead of a new research series from Pensions Expert into small scheme bulk annuities, members of the Endgame Perspectives Group explore how streamlined services have developed, their limitations, and how they can better serve pension schemes and members. Simplifying the risk transfer process isn’t as simple as it may appear. If we were to build the ideal risk transfer process for pension schemes now, without any baggage, what would it look like? Perhaps it’s a standardised process across insurers and advisers where contracts,...

May 12, 2026
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April 2026
29Apr

Market Turmoil Sparked by Iran War Wiped Out $233B in Public Pension Funding

A 3.5% aggregated investment loss spurred by war in the Middle East wiped $233 billion from the 100 largest U.S. public pension plans in March, dropping their funded levels to 83.7% from 87% in February, according to actuarial and consulting firm Milliman. It was the first time the dataset recorded investment losses in more than a year, and it halted the progress of the aggregate funded level’s steady rise from almost 80% funded 12 months earlier. Milliman estimated that individual...

April 29, 2026
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16Apr

UK. The birth of the buy-in: Reflections on 20 years of pension risk transfer

Buy-ins are now well-established and regularly dominate the headlines in the pensions press. But that has not always been the case. Take yourself back to March 2006. A small group of us at LCP was contemplating what the recent launch of a wave of new insurers seeking approval to write bulk annuities could mean for defined benefit (DB) schemes. We saw potential benefit for trustees and sponsors, and so our pension risk transfer practice was born. Today, we have a thriving...

April 16, 2026
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14Apr

UK. Longevity risk climbs agenda as DB schemes assess run-on strategies

Tackling longevity risk is becoming an increasing priority for UK defined benefit (DB) pension schemes, as more schemes reassess their endgame strategies amid a growing focus on run-on, according to Aon. The firm explained that improved funding levels in recent years have created both new opportunities and challenges for schemes, prompting trustees and sponsors to revisit their risk management approaches. This includes considering whether to run-on for a period before buyout, or to adopt a long-term run-on strategy, with longevity risk...

April 14, 2026
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March 2026
26Mar

​Climate risks ‘still mispriced’ despite $1.3trn corporate exposure

Financial markets may still be underestimating the investment impact of extreme weather, despite listed companies facing an estimated $1.3trn (£1trn) in losses over the next year alone, according to a new report from the Sustainable Markets Initiative (SMI). The report, developed by Marsh Risk along with Impax Asset Management’s Sustainability Centre, argues that physical climate risks are already affecting portfolios through asset damage, supply chain disruption, and impaired company performance – but are not yet being fully reflected in valuations. Its...

March 26, 2026
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20Mar

The Retirement System Is Breaking – 8 Risks Most Investors Still Ignore

In recent weeks, I have put a lot more focus on actionable ideas, including higher-yielding stocks (see this article). However, that’s just the start. Especially for income-focused investors, I want to provide more food for thought. That’s based on various reasons, including these ones: Many of my readers are retired or getting close to retirement. Heck, even many of my younger followers are looking to add some income to their portfolios. I believe that “value” stocks are a great place to...

March 20, 2026
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19Mar

Risks, returns and realism: Mapping the future of pension investment

By Nicolas Firzli and Nick Sherry  Former Australian pensions minister Nick Sherry and World Pensions Forum director M Nicolas J Firzli explain their new model for visualising the future of asset allocation as interest in private markets and productive finance increases. We are living in the Age of Geo-Economics – defined by the second Trump presidency, the accelerating Sino-American technological rivalry, and the weaponisation of trade, finance and central banking – shaping the Fifth Industrial Revolution – bringing us artificial intelligence, advanced...

March 19, 2026
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13Mar

Mortality Risk Valuation in Policy Assessment. A Global Meta-Analysis of Value of Statistical Life Studies

By OECD Policymakers are often faced with decisions affecting human health and mortality risk. For example, new vehicle fuel efficiency standards may lead to higher costs for consumers but could also save lives by improving air quality in urban areas, thus creating a trade-off between economic costs and the value of reducing mortality risk. Yet, too often, these economic trade-offs are not assessed in a systematic manner using a consistent methodology. This report aims to equip policymakers with the methodologies and economic...

March 13, 2026
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