October 2024
31Oct

Pensions Minister set out Government’s objectives to boost UK investment and improve saver returns

In a keynote speech at a recent pensions conference, Emma Reynolds set out two key objectives: to improve the level of pension fund investment in the UK economy and to improve savers’ returns. Notable points in the speech to the Pensions and Lifetime Savings Association’s annual conference included: Building on the Mansion House Compact and confirming an interim report on the first phase of the government’s Pensions Review would be published before Christmas, with a final report next year. Commenting...

October 31, 2024
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31Oct

South Korea: Pension subscribers allowed to change pension fund managers starting today

Financial institutions in South Korea, including insurance companies, have been busy with plans to attract customers who wish to switch the companies managing their pension accounts. Starting today (31 October), pension subscribers are allowed to shift their accounts to other financial companies without having to terminate the pension plans with the pension fund manager they wished to move from. According to the Financial Supervisory Service, as of 30 September 2024, total pension funds amounted to KRW400.79tn ($290bn). Of this total, insurance companies accounted for KRW93.27tn...

October 31, 2024
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31Oct

Would a ‘lost decade’ derail your retirement plans? Not necessarily.

'If you feel like you're behind if you don't get 12%-plus returns every year, then maybe you need to re-evaluate your plan' If the U.S. stock market drifted into a "lost decade" in which returns stagnated in comparison with the stellar run of recent years, would retirees and those nearing retirement be doomed? The market has been very kind to workers' 401(k) plans in recent years. This year, the S&P 500 SPX is poised to post returns of more than 20%,...

October 31, 2024
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30Oct

The U.K.’s fertility rate is at its lowest level in 90 years, far below the ‘replacement rate.’

A brewing demographic crisis in the U.K. might add another layer of complication to the country’s ebbing productivity rates, which the Labour government hopes it can tackle. Parts of the U.K. are seeing their lowest birth rates in about 90 years, or since World War II. With a productivity crisis looming large, a stubbornly low number of births could mean more problems for the U.K. than just an aging population. England and Wales are seeing fertility rates plummet to 1.44 children...

October 30, 2024
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30Oct

Striking Boeing workers may have leverage, says pension expert Teresa Ghilarducci

Machinist workers striking against Boeing Co., Chicago, may have the leverage to potentially set a precedent in their demands for the company to restore its defined benefit plan, says Teresa Ghilarducci. Ghilarducci, professor of economics at The New School for Social Research and the director of the Schwartz Center for Economic Policy Analysis and The New School's Retirement Equity Lab, is a longtime advocate for retirement security. She said that companies like Boeing, where reliability and consistency are essential in high-stakes...

October 30, 2024
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30Oct

8.1 Million Ghanaian workers not covered by pension scheme – Prof. Abdallah Mashud

The Executive Director of the Africa Centre for Retirement Research (ACRR), Professor Abdallah Mashud, has disclosed that as of last year, 2023, approximately 8.1 million Ghanaian workers were not covered by any form of pension scheme. Speaking on Joy News’ AM Show on Tuesday, October 28, 2024, with Benjamin Akakpo, the renowned social security expert described the situation as problematic. He was discussing the 2024 pension manifesto of the two major political parties: the National Democratic Congress (NDC) and the New Patriotic Party...

October 30, 2024
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30Oct

‘Companies are not listening to us’: DC schemes’ net zero challenges

Progress towards achieving net zero carbon emissions by 2050 is being hampered by some companies failing to engage with pension schemes or backtracking on previous commitments, according to research. A new report from the Defined Contribution Investment Forum (DCIF) has highlighted stewardship and engagement issues being faced by some of the country’s largest defined contribution (DC) master trusts. Katharina Lindmeier, senior responsible investment manager at Nest, told the DCIF that much of the “low hanging fruit has been plucked” as schemes...

October 30, 2024
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30Oct

What Are the Top Retirement Planning Questions Among Boomers?

Not surprisingly, “how much money will I need to retire comfortably” and “is it possible I could outlive my savings” were the top responses among Baby Boomers who were asked to select their top three “burning questions,” but another important issue was also on their minds. And that is the issue of long-term care, according to the latest findings from Northwestern Mutual’s 2024 Planning and Progress Study. Perhaps because of their proximity in age to retirement, Boomers included long-term care concerns...

October 30, 2024
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30Oct

UK Budget and US election hot topics at pension seminar

The impact of the upcoming UK Budget and US election on pensions and investment markets was a key focal point at Quantum Advisory’s latest event. Finance, HR and pension professionals came together on 22 October to hear exclusive industry insights and market updates at the firm’s pension and investment breakfast seminar at the Celtic Manor Twenty Ten Clubhouse. Dan Redwood, a senior investment consultant and actuary at Quantum Advisory, opened the event with an overview of macroeconomics, gilts and equity markets...

October 30, 2024
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29Oct

UK. Research reveals ‘clear need’ for greater DB support at retirement

More than a third (38 per cent) of pre-retiree defined benefit (DB) pension scheme members do not feel confident about planning their retirement, according to research from Just Group, which highlighted a "clear need" for greater support at retirement. In addition to this, the survey found that one in five pre-retired DB members over the age of 50 are yet to start planning for life after work. Given this, Just Group argued that there is a "clear need" to help private...

October 29, 2024
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