September 2022
02Sep

US. Florida Retirement System returns -6.3% for fiscal year

Florida Retirement System, Tallahassee, returned a net -6.3% for the fiscal year ended June 30. The $180 billion pension fund's return exceeded the benchmark return of -9.1% for the period, according to a performance report on the website of the Florida State Board of Administration, which oversees the pension fund's investments. For the three, five and 10 years ended June 30, the pension fund returned an annualized net 7.7%, 7.7% and 8.6%, respectively, above the respective benchmarks of 5.7%, 6.2% and...

September 2, 2022
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01Sep

U.S. corporate pension buyouts hit record $12.3 billion in Q2 – LIMRA

U.S. corporate pension plan buyout sales totaled $12.31 billion in the quarter ended June 30, the highest volume for a second quarter ever recorded, a LIMRA survey found. The second-quarter total in buyout sales represented an increase of 148% from the year-over-year quarter, which saw a total of $4.97 billion in combined buyout and buy-in sales during the three months ended June 30, 2021. The exceptionally high volume in the second quarter of this year is especially significant since the vast...

September 1, 2022
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01Sep

UK. Pensions dashboards standards need ‘extensive user testing’

Respondents to the pensions dashboards standards consultation have warned that user testing and experience will be required before a full assessment can be provided. The Department for Work and Pensions intends for the dashboards’ legislative framework to come into force from April 2023. The Pensions Dashboards Programme’s consultation, launched on July 19, sought input from the pensions industry on areas including operational, security and design standards. The Pensions and Lifetime Savings Association and the Society of Pension Professionals were among respondents...

September 1, 2022
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August 2022
29Aug

Technology can turn Asia’s ageing population problem into a longevity dividend

The Covid-19 pandemic has prompted a fundamental shift in attitudes towards technology in the workplace. Concerns that computers would render workers obsolete are giving way to the appreciation that technology could free humanity from mundane tasks and enable more flexible ways of working and interaction. Crucially, digital technology will help keep older workers in employment and bring retirees back by permitting more flexible work arrangements and reducing the physical or cognitive demands of certain jobs. If mindsets can change, these...

August 29, 2022
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July 2022
07Jul

YuLife picks up $120M at an $800M valuation for gamified, wellness-focused life insurance

YuLife originally made a name for itself in its home market of the U.K. for its new approach to the provisioning of life insurance: yes, sell a policy that provides financial security to your people in the event of your death; but do so with a focus on improving the policyholder’s current life with wellness opportunities, and encourage use of that with gamification — a model that not only is aimed at benefitting the policyholders more, but increases engagement...

July 7, 2022
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05Jul

China Turns to Automation and Robotics to Solve Aging Problem

The impact of an aging population has taken a toll on China’s economy. Industrial automation and robotics could be the solution. We believe that China is at the beginning of a structural shift thanks to the country’s policy support, demographic trends and technological progress. Furthermore, the ongoing trend of domestic substitution will likely provide a fertile breeding ground for local champions to be born and thrive – and our portfolio companies Shenzhen Inovance Technology Co., Ltd Class A (“Inovance”) (0.64%...

July 5, 2022
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June 2022
30Jun

India. PFRDA to go fully digital in operations, invites bids from IT vendors to launch tech project

Pension fund regulator PFRDA has initiated steps to digitise its operations through the 'Technology Architecture (TARCH) Project', inviting bids from IT solutions providers to launch the project. PFRDA's most of the operations are currently manual in nature, and digitisation is partial. PFRDA has decided to digitise and automate its operations through Technology Architecture (TARCH) Project, which is envisioned to be a modular and API (Application Programming Interface) based platform, PFRDA said in a bid document seeking interest from reputed IT...

June 30, 2022
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24Jun

The Aging Readiness & Competitiveness Report 2021. Enabling Innovation for Healthcare and Wellness

By AARP As the world enters the UN’s Decade of Healthy Ageing, amid global covid-19 vaccination efforts, the need to increase support for the wellbeing of older adults has never been so clear. Older people comprise a growing share of the global population. This trend will persist over the coming decades, and not just in high-income countries. By 2050 an estimated 80% of older adults will be living in low- and middle-income countries. Yet disparities for older adults are ubiquitous,...

June 24, 2022
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16Jun

India. Government to launch AI-driven portal for distributing pension payments

In order to seamlessly process, track and disburse pensions, the Department of Pension and Pensioners' Welfare will soon launch an Artificial Intelligence (AI) enabled the common portal for the benefit of pensioners and elderly citizens. Union Minister Jitendra Singh said that the AI-supported portal, 'Bhavishya', will send automatic alerts to pensioners and superannuated senior citizens, including retired paramilitary personnel. Apart from enabling constant contact with pensioners and their associations across India, the portal will also receive their inputs, suggestions as well...

June 16, 2022
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13Jun

UK. FCA: Technology is both a risk and an opportunity

The Financial Conduct Authority’s chief data, information and intelligence officer Jessica Rusu has said technology can be “a force for good” but comes with many risks. Speaking at the Money 2020 Amsterdam event last week (June 8), Rusu explained that the increase in firms suffering from cyber-attacks demonstrates the risks that arise through innovation. “Looking through the lens of a regulator, having spent many years in big tech, fintech and traditional banking roles – I see that innovation and the role...

June 13, 2022
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