December 2024

How would a U.S. government shutdown affect Social Security pensions?

Pensions are one of the major concerns of citizens around the world. From retirement, permanent disability or even in the tragic reality of receiving a widow’s benefit for the death of a spouse. Therefore, these retributions granted by the State are, without a doubt, one of the main reasons for society to pay taxes and enjoy an income that balances its purchasing power with increases in goods and services. Therefore, in the matter of the United States, despite hopes that a funding agreement would...

Empowering the Next Generation: Adapting Hong Kong’s Workforce for Tomorrow

As we look toward the future of work in Asia, understanding the evolving dynamics of the workforce is crucial, particularly in the Hong Kong market. Mercer’s 2024 Global Talent Trends survey reveals that generational shifts, especially the influence of Gen Z, are reshaping workplace expectations and strategies. With a strong emphasis on flexible work arrangements, well-being, and technological engagement, companies in Hong Kong must adapt to meet the needs of this emerging workforce. By fostering a work environment that aligns with...

Nigeria. PenCom to remodel micro-pension scheme – DG

The Director-General of the National Pension Commission, Omolola Oloworaran, has revealed that the micro pension scheme would be remodelled to boost participation. Oloworaran said this on Thursday at the 2024 PenCom Media Conference held in Lagos. Micro pensions are specifically designed for individuals in the informal sectors. She said, “What we are doing with a micro pension is treating it a little differently from how we were doing it before. As we know, the micro pension doesn’t resonate with everyone within the...

Pensioners of Radio Pakistan in Gilgit-Baltistan demand overdue benefits

Last week, a determined group of retired employees from Radio Pakistan marched through the streets of Pakistan-occupied Gilgit-Baltistan (PoGB), voicing their frustrations over delayed retirement benefits and pensions that remain unpaid despite years of service. The demonstrators, a coalition of former staff who dedicated decades of their lives to the national broadcaster, gathered to demand immediate action from the government, shedding light on the financial hardships they currently face. Organised by a committed faction of people who have retired, the lively...

2024 is a record year for ETFs in Latin America, especially among pension funds

According to a report by ETFGI, this year will be historic for the global ETF sector. By the end of August, the industry reached a new all-time high of $13.99 billion in assets under management, surpassing the previous record of $13.61 billion. In the emerging markets of Latin America, the trend is similar, driven by increased liquidity in the region. This is particularly evident among the largest pension funds, whose managers have long used ETFs as one of their preferred...

UK Government denies compensation to Waspi women

Prime Minister Keir Starmer has defended the decision to reject compensation for women hit by changes to the state pension age, arguing that the taxpayer "simply can't afford the tens of billions of pounds" in payments. He added that "90% of those impacted knew about the changes that were taking place". However, during Prime Minister's Questions, Sir Keir was repeatedly pressed on the government's decision, with one MP calling for a vote. The Women Against State Pension Inequality (Waspi) campaign group say that...

US Pension Plans Set to Increase Contributions in 2025

Approximately 58% of pension funds in the U.S.—including public, corporate and multi-employer plans—reported that their funded status increased in 2024, according to a survey of pension fund professionals commissioned by Ortec Finance. Approximately 30% of plans reported that their funding status is unchanged, while 12% said their funding status decreased this year. While funded status is generally increasing, more than two-thirds (68%) of respondents said they will or are likely to increase contributions this year. According to Ortec Finance, of the...

US. Indiana to Replace BlackRock in Pension Funds Due to ESG Investing Policies

The Indiana Public Retirement System (INPRS) voted to replace BlackRock as a manager in its portfolio, due to the investment giant’s alleged use of ESG investment policies and its engagement using “an ESG focused agenda.” In a press release from Indiana State Treasurer Daniel Elliott, who also serves as a member of the INPRS Board of Trustees, Elliott said lauded the board’s decision to remove BlackRock, describing the firm as an “ESG violator.” Elliott said: “Today, I and other INPRS board members...

How the place where people live influences aging in Spain

As the population ages and grows in our cities, the question arises of whether this environment is truly a suitable space for older people to live fully, with health, comfort, and quality of life. Although cities offer access to medical services, social activities, and amenities that are often lacking in rural areas, they also present barriers that limit the quality of life. Are our streets and services really adapted to their needs? Are we making enough progress? Are rural...

AI and machine learning to help pension plan governance, says CFA report

The CFA Institute Research and Policy Center has released new research exploring how AI and machine-learning technology can address critical issues facing the global pensions industry. Demographic shifts, underfunding of defined benefit pension plans, inflation, rising inequalities, and gaps in financial literacy, are creating an increasingly complex pensions environment and more risk of pension inadequacy for retirees. The research, ‘Pensions in the Age of Artificial Intelligence’. explores whether technology can offer solutions to address key issues across various parts of the value...