NEWS


US. Group of senators urge finalization of DOL fiduciary rule

Nine senators urged the Labor Department and Office of Management and Budget to quickly finalize the DOL’s proposed rule amending the definition of a fiduciary. The Labor Department proposed the Retirement Security Rule, commonly referred to as the fiduciary rule, in late October. The rule would make changes to the definition of an investment advice […]

UK. Data shows public concern about pensions adequacy and climate change

Most of the public want the government to do more to address pensions adequacy and to ensure the industry is tackling the climate crisis, research from ShareAction, Make My Money Matter and Finance Innovation Lab finds. The research from the responsible investment organisations – which polled 2,000 UK adults this month – found three quarters (77%) of […]

Kenya. Treasury Unveils New Retirement Policy With Enhanced Benefits

The government wants to revise the pensions scheme to enable Kenyans save for a retirement home and pay for medical care after retirement. According to the draft National Retirement Benefits Policy released by the National Treasury, a significant number of Kenyans are facing challenges in accessing housing and healthcare services after retirement. The Treasury pointed […]

Surge in China personal pension accounts, contributions lag

The number of personal pension fund accounts surged last year, but the scheme designed to shore up China’s pension system remained hamstrung by low contributions and a lack of investment, reports Caixin. More than 50 million people had set up personal pension accounts as of the end of last year, Zhai Yanli, director-general of the Social […]

Little planning for looming retirement crisis, BlackRock chief warns

The chief executive of the world’s largest asset manager is warning of a future “retirement crisis”, as pension savings fail to keep up with life-extending medical breakthroughs. In his annual letter to investors, the BlackRock chief executive, Larry Fink, said that establishing “a secure, well-earned retirement” would be one of the greatest economic challenges to face […]

Australia. New Law Boosts Affordable, Accessible Financial Advice

Today, the Albanese Government has introduced the first tranche of legislation to deliver its comprehensive package of reforms to ensure Australians have access to quality and affordable financial advice. There are over five million Australians at or approaching retirement who need assistance to navigate the pension and superannuation systems. Unfortunately, the average cost of financial […]

Funded Status of Largest 100 US Public Pension Funds Rises to 78.6%

Public pension funded status increased to 78.6% at the end of February, up from 77.7% the month before, according to the monthly Milliman Inc. 100 Public Pension Funding Index, which tracks the funded status of the largest 100 public defined benefit plans in the U.S. Public plan funded status rose in February to the highest level […]

Majority of U.K. DB plans looking for buy-in or buyout

More than half (53%) of the U.K.’s large defined benefit plans are planning for an insurer buy-in or buyout within the next three years, according to research by insurance and asset management firm Legal & General. In 2023, around £50 billion of U.K. retirement income was secured with insurance companies through pension buy-ins and buyouts. […]