November 2024
07Nov

The evolving climate change investing strategies of asset owners

Asset owners who control substantial capital in the financial system through pension funds, endowments, foundations, and individual holdings can play a crucial role in driving investments in climate change mitigation, according to a new Yale School of the Environment study. The study, led by Emil Moldovan ’24 MESc, found that owners of large asset portfolios are recognizing the need to consider the environmental impacts of  investment decisions and aligning portfolio goals with global efforts to limit climate change. However, perceived...

November 7, 2024
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06Nov

US. What Changes Might a Trump Presidency Make to Retirement Regulations?

Given the results of the U.S. Presidential Election, certain regulatory items at the Department of Labor will likely be modified or abandoned altogether. These include DOL initiatives on environmental, social and governance (ESG) investing, investment advice fiduciary standards, qualified professional asset manager (QPAM) eligibility, and the definition of independent contractor; while others, such as efforts to promote employee stock ownership plans (ESOPs) will likely continue. ESG Factors Most industry observers agree that the Biden ESG rule is in trouble, but there is...

November 6, 2024
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06Nov

Top Global Pension Funds Allocated $708bn to Private Equity

Global pension funds continue to increase their allocation to private equity, with the top 20 global pension funds with the largest dollar allocation to private equity devoting a total of $707.6 billion to the asset class so far in 2024. S&P Global Market Intelligence data revealed that the Canada Pension Plan Investment Board (CPPIB) has the largest allocation at $143.9 billion, representing more than 24% of its total assets. This was followed by the California Public Employees’ Retirement System with a $83.5...

November 6, 2024
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06Nov

First UK pension scheme dives into Bitcoin, but don’t expect a stampede

The first UK pension fund has invested in Bitcoin according to the pension specialists Cartwright with the scheme reportedly allocating 3% of its assets to the cryptocurrency. Laith Khalaf, head of investment analysis at AJ Bell, comments: “It was only a matter of time before a UK pension scheme bought into Bitcoin, but this isn’t likely to spark a stampede into the asset class. Bitcoin is notoriously volatile, and pension scheme trustees are just as notoriously risk averse. Why wouldn’t you be when...

November 6, 2024
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06Nov

86% of Americans say all workers should have a pension, not just public workers

Americans' views on retirement are shifting. Many employees are increasingly worried about retirement and they see a return to pension as a way to restore the American Dream of retirement, according to the National Institute on Retirement Security's (NIRS') new survey, What Do Americans Think About Pensions for Public Employees? NIRS finds strong support among Americans for retirement benefits provided to state and local government employees: 86% of Americans say all workers, not just those employed by state and local governments, should...

November 6, 2024
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05Nov

US. Boeing workers vote to accept deal, end strike

Striking workers at embattled plane maker Boeing voted Monday to accept the company’s most recent offer, ending the costliest strike in the United States in more than 25 years. The International Association of Machinists (IAM) said rank-and-file members voted by 59% to approve the deal. IAM members had voted almost unanimously against Boeing’s first offer on the eve of the start of the strike, and then 64% voted against the second offer less than two weeks ago, extending the strike. “I’m...

November 5, 2024
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05Nov

UK. Pensioners Affected by Winter Fuel Payment Changes Prompt Union’s Legal Challenge

The UK government's plan to scrap universal Winter Fuel Payment for around 12.7 million pensioners has prompted trade union Unite to threaten legal action. In a bid to save money, the Labour government has said that only people over the age of 66 and in receipt of means-tested benefits such as Pension Credit would be eligible, meaning that around 10 million pensioners will no longer receive this one-off annual payment of up to £300. Implications for Pensioners and Government Justifications Ministers claimed...

November 5, 2024
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05Nov

China. Recommendations made for strict implementation of China’s Social Insurance Law

The Standing Committee of the National People's Congress, China's top legislature, urges more sound and scientific regulations and law on the nation's social insurance operation after it sent an inspection team to review the implementation of the Social Insurance Law in recent months. The inspection team, consisting of 19 members, visited 16 cities and prefectures in six provinces from June to July, including Shanghai, Heilongjiang and Guangdong, to review the implementation of the social insurance law. The team also authorized...

November 5, 2024
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05Nov

CPF unveils new fund to support Kenya’s unpensionable workers

CPF Financial Services has introduced the Taifa Pension Fund, a new pension scheme targeting Kenya’s unpensionable workforce across both private and public sectors. The fund, managed by Standard Investment Bank, provides flexible retirement solutions for those without traditional pension access, such as informal sector workers. Taifa Pension Fund offers a range of benefits including high returns, global market exposure, and diversified investment opportunities. It serves as an umbrella fund, allowing participating employers to pool resources, thus reducing the overall cost per member...

November 5, 2024
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04Nov

Pension warning: Britons withdrawing £500 a month face ‘very real threat’ of running out of money in retirement

Britons are warned they could run out of money in retirement if they withdraw £500 a month from their pension. The warning comes from the Retirement Income Market data from the City watchdog, the Financial Conduct Authority (FCA) which showed that well over 220,000 pension pots had a withdrawal rate of more than eight per cent in 2023/24. This surge in high withdrawal rates has raised alarms among financial experts as pension drawdown continues to be the most popular option. Almost 280,000 savers...

November 4, 2024
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