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January 2024

26Jan

Public Pension Funding Index January 2024

By Rebecca A. Sielman & Richard L. Gordon  Two consecutive months of positive market performance in November and December 2023 pushed the funded status of the 100 largest U.S. public pension plans to its highest point of 2023. The plans’ estimated funded status increased from 72.4% as of October 31, 2023, to 75.9% as of November 30, 2023, and further increased to 78.2% as of December 31, 2023, as measured by the Milliman 100 Public Pension Funding Index (PPFI). Get the...

January 26, 2024
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26Jan

Planning for a pension scheme buyout

By Katherine Russell, Melissa Wongand & Alice Fletcher The bulk annuity market has seen an increase in full scheme buy-ins, which is a significant milestone for any pension scheme. However, there are still lots to do before the buy-in is converted to a buyout and the pension scheme can be wound up. Katherine Russell, Melissa Wong and Alice Fletcher highlight the key steps and considerations following a full scheme buy-in. Get the report here

January 26, 2024
Books, Books, Pension design, Reports,
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26Jan

Asset Manager, Pension Fund & ESG

By René Maatman & Kleis Broekhuizen  When it comes to sustainability, much is expected of pension funds. Of course, they must ensure value-proof pensions. They are also expected to contribute to the environment, climate, human rights, social justice, and corporate governance. ESG must be factored into investment policy. But how and to what extent? There are varying preferences within the population of pension participants. Politicians, action groups and NGOs have their own beliefs. Pension fund boards must make complex trade-offs. How...

January 26, 2024
Articles, Pension Management, ,
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26Jan

Sustainable Finance and ESG: From Policy Concerns to Transformative Tools

By Peer C. Zumbansen  This article provides an in-depth summary of the inaugural Fall conference on ESG and Sustainable Finance at McGill University, November 2023. The conference was hosted by the SGI CIBC Office for Sustainable Finance (OSF) and the Business Law Platform at McGill’s Faculty of Law. OSF was established under the auspices of McGill’s Sustainable Growth Initiative, a cross-departmental research and collaboration platform committed to cutting-edge scholarship and training on sustainable finance, decarbonisation, green mobility, climate change and...

January 26, 2024
Articles, Pension Management, , ,
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26Jan

Collective Defined Contribution Pension with Stochastic Age-structured Models

By Fan Zhang We have reconfigured the Age-structured Model(ASM) model, leveraging its mathematical underpinnings rooted in cohort dynamics. This paper applies the novel ASM framework to the issue of Collective Defined Contribution Pension(CDC) pensions, providing a profound characterization of population dynamics and asset fluctuations at each time-age point within the pension context. This serves to substantiate the novel ASM framework as the key mathematical model for addressing CDC-related challenges. Furthermore, we have illustrated the distinct advantages of ASM through this...

January 26, 2024
Articles, Pension design,
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24Jan

Evolución de los recursos federales destinados al Sector Protección Social 2012-2023

Por Gabriela Morales Cisneros  En el Presupuesto de Egresos de la Federación 2023 se aprobó un presupuesto de 1 billón 757,252.3 millones de pesos para la Protección Social, este monto representa el 45.0% del gasto programable destinado a Desarrollo Social y el 29.5% del gasto programable del Sector Público. Libro completo aquí

January 24, 2024
Libros, Libros, Reportes, Sostenibilidad del Sistema, Sostenibilidad del Sistema, , , ,
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24Jan

Reforma Pensionaria

Por Enrique Díaz-Infante Chapa La reforma de 1995 creo el Sistema de Ahorro para el Retiro (SAR). Fue muy positiva en cuanto a que, a través de las Afores, dio propiedad y transparencia a los trabajadores sobre su jubilación. También en cuanto a que hizo financieramente viable un sistema pensionario que fiscalmente era insostenible y generó ahorro necesario para invertir en muchos proyectos de infraestructura, con impacto favorable en crecimiento y desarrollo del país. Fuente Centro de Estudios Espinosa Yglesias

January 24, 2024
Artículos, Sostenibilidad, , ,
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24Jan

Seguridad social y sistemas de pensiones: una valoración desde la óptica de la justicia distributiva

Por Pablo Sandoval Cabrera Cualquier sistema de pensiones viable, adecuado y sostenible debe fincarse, necesariamente, en la existencia de condiciones de equidad en la distribución de la riqueza generada por la sociedad; esto es, presupone condiciones mínimas de justicia distributiva, así como la prevalencia de oportunidades con sentido de inclusión. Partiendo de esta premisa, se establece un marco de reflexión en la búsqueda de propuestas de solución al problema pensionario y de seguridad social desde el enfoque de la justicia...

January 24, 2024
Artículos, Caracterización del Sistema, , ,
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19Jan

PPF 7800 Index

By Pension Protection Fund The PPF 7800 Index tracks the level of underfunding risk in the PPF-eligible universe using the latest scheme return information provided to The Pensions Regulator and the roll- forward methodology used for PPF levy purposes. There are certain simplifications within the levy calculation, as described in note 4 on page 7 of this document, that should be borne in mind when interpreting these results. In particular, the assets and liabilities have not been reduced for benefit...

January 19, 2024
Books, Books, Pension Management, Reports, ,
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19Jan

Pension Funding Index January 2024

By Zorast Wadia The funded status of the country’s 100 largest corporate pension plans, as measured by the Milliman 100 Pension Funding Index (PFI), experienced a modest improvement in 2023, driven by annual investment returns of 9.94%. Declining discount rates, particularly in the fourth quarter, and the corresponding liability (i.e., the projected benefit obligation) increase of 8.33% served to partially offset the asset gains, resulting in a funded status improvement of $4 billion for the year. This gain paled in...

January 19, 2024
Books, Books, Reports, System Characterization, , , ,
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