November 2024
19Nov

Ghana blocks pension funds from offshore investment on currency concerns, sources say

Ghana is clamping down on private pension fund managers who want to invest in offshore assets on concerns it could worsen pressure on its cedi currency, three industry sources told Reuters. After pension reforms in 2010, workers' retirement contributions in the world's number two cocoa producer enjoyed strong growth, buoyed by a tiered scheme that allow private firms to manage some contributions. Assets under management by the pension fund industry were 78.2 billion Ghanaian cedis ($4.93 billion) in June, of which...

November 19, 2024
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19Nov

N.Y. State Common Retirement Fund makes $4.6 billion in alternative investment commitments

The New York State Common Retirement Fund, Albany, has made 15 commitments totaling $4.6 billion to alternative investments, according to a notice posted on the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $267.7 billion pension fund. All commitments were made in September. The pension fund made five opportunistic absolute return strategy commitments for a total of $1.8 billion. The commitments are: TPG Solutions (A), managed by TPG Capital, for $500 million. This fund “invests exclusively”...

November 19, 2024
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19Nov

Danish pension fund targets Asian clean energy bets

By Hugo Cox   PensionDanmark, Denmark’s $51 billion pension fund, has identified clean energy solutions, including many in Asia, as its number one sustainability priority for 2025. It is aiming to build on existing direct allocations in the region, which include wind and solar projects in India, South Korea, Vietnam and Taiwan. “We are now heavily involved in green energy infrastructure development projects throughout the region," Jan Kæraa Rasmussen, head of ESG and sustainability at PensionDanmark in Copenhagen told AsianInvestor. "It’s a very important market...

November 19, 2024
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19Nov

Pension funds will have to invest more in UK assets under government plans

Pension funds will be ordered to invest more money into UK assets if changes announced last week by The Chancellor don’t see an increase in money flowing into Britain. Emma Reynolds, UK pensions minister, told the FT that while last week’s changes had avoided forcing pension funds to invest in British assets, such “mandation” would be considered if they don’t do enough. “We’re not talking about it for now, but let’s see where we get to,” Reynolds said, in an interview with...

November 19, 2024
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13Nov

México. El SAR y el desarrollo de infraestructura

Hace un par de semanas se publicó la última actualización del régimen de inversión al que deben sujetarse las Administradoras de Fondos para el Retiro (Afores). Más allá de la recurrente renovación de la normatividad financiera del Sistema de Ahorro para el Retiro (SAR), en esta ocasión se modificó algo sustantivo: se incrementó el límite de inversión en estructurados en México. ¿Por qué es importante esto en la actualidad? Ya en una entrega anterior había comentadoen estas líneas  sobre la...

November 13, 2024
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13Nov

República Dominicana. República Dominicana podría aumentar hasta un 20 % las pensiones solidarias al 2030, señala la Cepal

La República Dominicana tiene oportunidad para incrementar hasta en un 20 % las pensiones no contributivas –o pensiones solidarias– al 2030, debido a que cuenta con un crecimiento económico sostenido que le permitiría asumir esta inversión social, señala la Comisión Económica para América Latina y el Caribe (Cepal). El secretario ejecutivo de la Cepal, José Manuel Salazar, indicó que el aumento de las prestaciones para las personas mayores que cuentan con esta pensión implicaría destinar alrededor de un 0.3 % del producto interno bruto (PIB), un gasto que es "financieramente viable"...

November 13, 2024
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13Nov

Panamá. Así funcionaría la reforma de las pensiones para los trabajadores independientes

Ejemplo del cálculo con las reformas Bajo el sistema actual, si el trabajador declarase $800 dólares, los aportes destinados expresamente a la jubilación se calcularían sobre $416. De acuerdo con lo explicado, esto sigue siendo así. La cuota que debería realizar partir de la reforma es del 18% sobre los $416, es decir, $74.88 cada mes. El aporte del 18% de los trabajadores independientes ( por el 52% de sus ingresos) es una contribución equivalente al 9.75% que se...

November 13, 2024
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13Nov

Danish pension fund pushes for Japan, Korea to abandon coal

PensionDanmark, Denmark’s $51 billion pension fund, is calling on Japan and South Korea to completely wean themselves off coal-generated power by 2030. “We have decided not to finance new coal power planned after 2023 anywhere in the world," Jan Kæraa Rasmussen, head of ESG and sustainability at PensionDanmark told AsianInvestor. "Our ask for utilities in developed countries, including in Japan and South Korea, is that they present comprehensive plans to phase out coal as soon as possible. And that should be closer...

November 13, 2024
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13Nov

UK. Pensions to be key focus of Chancellor’s first Mansion House speech

Pensions are expected to be a key focus of Rachel Reeves’s first Mansion House Speech, due to be delivered this Thursday. Many in the industry are expecting the new Chancellor to set out bold pension reforms, setting out how DC and DB funds will be used to boost investment into UK infrastructure and private business over the next five years. This Mansion House speech is a key economic speech given by the Chancellor to senior City and banking representatives, outlining broad policy...

November 13, 2024
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13Nov

Australia. Government urged to transform Disability Support Pension after its ‘lacklustre’ response to Senate report

A coalition of disability and social services groups has called for further reform of the Disability Support Pension (DSP) and condemned the federal government for its official response to a Senate inquiry into the payment. In 2021, a months-long Senate inquiry into the purpose, intent and adequacy of the DSP received 134 submissions and held four public sessions. The inquiry reported early the following year while the Morrison government was still in power, and heard "overwhelming evidence" the DSP was inadequate and that...

November 13, 2024
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