December 2022
16Dec

US. Republicans introduce SEC oversight bill

As Republicans prepare to take control of the House next month, a trio a GOP lawmakers introduced a bill signaling added oversight and scrutiny coming to the Securities and Exchange Commission. The Review the Expansion of Government Act, or REG Act, introduced Wednesday by Rep. Young Kim, R-Calif.; Rep. French Hill, R-Ariz.; and Rep. Bill Huizenga, R-Mich., would require the SEC to review every final rule it promulgates every three years after implementation. The agency would be required to create a...

December 16, 2022
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13Dec

México. Sanciones a Afores van a la baja en 2022

Las sanciones impuestas por la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) a las 10 Afores que operan en el país ha ido a la baja en el presente sexenio. En los primeros 10 meses de 2022, estas multas disminuyeron 28.3 por ciento en número y 36.7 por ciento en monto, esto en comparación con el mismo periodo del año pasado. Afores: competencia financiera, no comercial Dichas amonestaciones derivan de acciones como entregar información financiera fuera de los tiempos...

December 13, 2022
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October 2022
14Oct

Mercer CFA Institute Global Pension Index 2022

By Mercer & CFA Institute Mercer and the CFA Institute released its 14th annual Mercer CFA Institute Global Pension Index (MCGPI). Iceland’s retirement income system has once again topped the list, with The Netherlands and Denmark retaining second and third places respectively in the rankings. As more employers have stepped away from defined benefit (DB) plans, the study also investigates the challenges and opportunities with the global shift towards defined contribution (DC) plans where individuals bear increased financial responsibility. The MCGPI...

October 14, 2022
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September 2022
26Sep

Officials Quit $137 Billion Pension Fund in Kuwait Shakeup

A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign. Director General Meshal Al-Othman and three of his deputies, including Raed Al-Nisf, were asked to quit Kuwait’s Public Institution for Social Security (PIFSS). The officials had spent years revamping the roughly $137 billion fund, which owns a quarter of US private equity firm Stone Point Capital LLC. The shift comes ahead of parliamentary elections in the OPEC member state...

September 26, 2022
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22Sep

UK Pension Schemes Under Pressure for Climate Impact Reporting

The mid-sized and smaller pension schemes in the UK are under tighter rules as new reporting regulations are requiring more detailed information. The UK has been one of the fastest countries to adopt the Taskforce on Climate-related Financial Disclosure (TCFD) reporting requirements into law. This covers corporates, regulated financial institutions, and pension schemes. Large pension schemes in the country have to report climate risks in line with TCFD guidance since last October. This is also part of the Occupational Pension Schemes...

September 22, 2022
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21Sep

UK. Guy Opperman ends role as Pensions Minister

Longest serving pensions minister Guy Opperman has lost his role after being in the post for the past five years. In a statement released today (September 20), Opperman said he had been relieved of his duties on September 8, but delayed the announcement to respect the period of mourning for Queen Elizabeth II. “It has been the honour of my life to serve as a government minister for the last seven years,” he said, thanking his parliamentary and civil service colleagues...

September 21, 2022
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August 2022
04Aug

Perú. Mujer pierde S/39,000 de su AFP porque otra persona hizo el retiro: “Mi cuenta está en cero”

Una madre de familia denunció que le robaron los S/ 39,000 que tenía ahorrado en su cuenta de AFP Integra durante largos años de trabajo. En la denuncia, la mujer señaló que intentó acceder a su solicitud pero se dio cuenta que alguien más había hecho el trámite. Se trata de Ruth, quien dejó pasar todos los retiros de la AFP hasta el último. Sin embargo, al verse en la necesidad del dinero, decidió sacarlo todo pero ya no tenía...

August 4, 2022
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04Aug

Sensitive data of Indian pension fund holders exposed online

A huge cache of data containing the full name, bank account number and nominee information of pension fund holders in India has surfaced online. Security researcher Bob Diachenko found two separate IP addresses storing more than 288 million records — with some 280 million records available under one IP address and about 8.4 million a part of the second IP address. Both IP addresses were publicly exposing the data to the internet but were not protected by passwords, the researcher...

August 4, 2022
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July 2022
19Jul

Africa Pension Supervisors Sign Agreement With FSD Africa

The forum brought together pension supervisors from different African countries to deliver a harmonized approach for interventions and reforms in the pensions sector across the continent. The theme of the conference was “Resilience and sustainability of the pension sector amid the crisis- The case of covid 19 pandemic”. Pension supervisors in Africa, relevant stakeholders, experts and partners in the pension industry shared experiences, discussed opportunities, challenges faced by the pension industry and new developments in the industry. The challenges include lower investment...

July 19, 2022
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18Jul

UK. Pair of ‘advisers’ jailed over £20mn pension fraud

Two “advisers” who convinced hundreds of pension holders to transfer their pots into self-invested personal pensions, and then unknowingly put them into risky investments as part of a £20mn fraud, have been jailed. Mark Kelly and Rikki Nicholls were each sentenced to six years’ imprisonment for conspiracy to defraud and money laundering at Southwark Crown Court on July 15. According to the Crown Prosecution Service, both men devised a plan to persuade pension holders, predominantly Equitable Life customers, to transfer their...

July 18, 2022
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