August 2023
07Aug

Engage teachers’ unions before making further NSSF deductions

The payment of pensions and other benefits to teachers and civil servants in Kenya was started by the colonial government, first for Europeans in 1927 and for non-Europeans from 1932. The Pensions Act (Cap.189), of the laws of Kenya, came into operation in its present form on January 1, 1946. Since then, it has been amended from time to time in order to accommodate the changing phases of work and the work environment of workers. The Pensions Act (Cap.189) makes provisions...

August 7, 2023
News,
Read more...
07Aug

How 5 Of the World’s Largest Pensions Funds Invest to Combat Climate Change

A number of the world’s largest pension funds have taken significant steps in recent years to make their portfolios greener, according to a study created by a team of students from Columbia University’s School of International and Public Affairs, in collaboration with the World Bank and the Sustainable Finance Institute. The study zeroed in on how five of them have gone about reducing the climate risk of their holdings. All invest in renewable energy and have measures to assess how environmentally sensitive...

August 7, 2023
News
Read more...

December 2022
19Dec

Top-rated retirement systems around the globe

A new report from Morningstar evaluates retirement systems in eight “highly educated and wealthy countries” often cited in independent studies as being among the best in their regions. In a recent webinar reviewing the report, authors Andy Pettit, director, policy research at Morningstar, and Lia Mitchell, senior analyst, policy research, discussed some of the more effective features that they found in the countries that they studied and some areas that would benefit from change in those countries, including the...

December 19, 2022
News,
Read more...

February 2022
24Feb

Investors, governments act on Russia’s escalation in Ukraine

AkademikerPension, Gentofte, Denmark, is halting some Russian investments as the situation with Ukraine escalates, the pension fund said in a statement Tuesday. The evolving situation in Ukraine prompted several government moves. U.K. Prime Minister Boris Johnson informed Parliament Tuesday that sanctions will be imposed on five Russian banks and three high-net-wealth individuals. Mr. Johnson described it as "the first tranche" of sanctions. U.S. President Joe Biden announced Tuesday the U.S. is imposing sanctions targeting Russia’s sale of sovereign debt abroad...

February 24, 2022
News, Slider, , ,
Read more...

October 2021
08Oct

Trans women granted backdated state pension in UK

The Department for Work and Pensions (DWS) has recognised that transgender women in the UK are eligible for backdated state pension. This follows a court ruling which states that a trans person who has had gender reassignment surgery and lived in their acquired gender for a “significant period” must be recognised in their acquired gender for state pension purposes. But the move will only apply to a small number of trans women. The DWP said that only those born between 31 October...

October 8, 2021
News, Slider, ,
Read more...
07Oct

Hong Kong Policy Address: MPF offsetting – allowing employers to dip into pensions – will be scrapped

Hong Kong’s controversial Mandatory Provident Fund (MPF) offsetting mechanism will be scrapped, Chief Executive Carrie Lam announced on Wednesday in her policy address. The mechanism allows employers to dip into workers’ pension funds to make long-service and severance payments, a system which has come under fire for years from unions and fundholders themselves. The offsetting will be fully scrapped as early as 2025, when the launch of an electronic management platform for the MPF (eMPF) is completed. According to a government source,...

October 7, 2021
News, Slider, , , ,
Read more...
07Oct

Ros Altmann: Could pensions be used to boost more sustainable investing?

As we rebuild the economy after Covid-19 and pursue the government’s aims to ‘Level up’ and ‘Build back better’, the greening of finance has become increasingly important. With the impacts of climate change ever more apparent, politicians seek to appeal to the ‘green vote’. The legislative measures to boost the battle against climate change include: mandating the UK’s main financial regulators to factor in climate-related issues; statutory requirements for pension schemes to address the international Taskforce on Climate-related Financial Disclosures...

October 7, 2021
News, Slider, , , , ,
Read more...
06Oct

German occupational pension execs call on next govt to ease rules

Executives of company pension schemes in Germany are calling on the country’s political parties, which are discussing to form a coalition for the next government, to tackle the complexity surrounding occupational pensions in favour of opting-out solutions, according to a survey conducted by Willis Towers Watson (WTW). The research – carried out last week during the annual WTW’s occupational pension conference bAV-Konferenz – showed that 44% of respondents believed the decision by the next government to simplify occupational pensions schemes...

October 6, 2021
News, Slider, , ,
Read more...
06Oct

Uk. Employers Be Aware – Big Changes To The Defined Benefit Pensions Landscape Come Into Force

Employers be aware – big changes to the defined benefit pensions landscape come into force Some of the biggest changes to the defined benefit pensions landscape in recent years come into force on 1 October 2021. Much has already been made of the provisions of the Pension Schemes Act 2021. Here is a rundown of what comes into force on 1 October (note that these provisions do not have retrospective effect): Getting money into schemes – the Pensions Regulator gains...

October 6, 2021
News, Slider, , , ,
Read more...
05Oct

Germany added to Sanofi pension fund in Belgium cross-border first

Sanofi European Pension Fund has become the first Belgium-based pension fund to begin operating cross-border activity in Germany, with two Hoechst companies coming on board. The development means that the liabilities associated with more than 5,000 pensioners of Hoechst GmbH and Hoechst Trevira Gmbh are being funded via Sanofi European Pension Fund. Hoechst AG was one of the three largest chemical and pharmaceutical companies in Germany before merging with Rhône-Poulenc in 1999 to form Aventis, which was subsequently taken over by...

October 5, 2021
News, Slider, , , ,
Read more...