February 2022
18Feb

39% of Canadians are confident in their retirement plan: survey

Almost two in five (39 per cent) Canadians are confident in their retirement plan, according to a survey conducted by Pollara Strategic Insights for the Bank of Montreal Financial Group. The survey, which polled 1,500 adult Canadians, found while respondents said they need $1.6 million to retire securely, just under half (44 per cent) were confident they’ll have enough money saved to retire as planned. Indeed, 42 per cent of respondents who are widowed, divorced or separated said they don’t...

February 18, 2022
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18Feb

Protests grow in Puerto Rico amid demands for higher wages

Four men walked to the parking lot before dawn, then sat down blocking the entrance and linked their arms to await the arrival of hundreds of federal and state employees for the work day. Protesting years without pay raises, the four employees of Puerto Rico’s Authority of Roads and Transportation refused to budge. A specialized police unit finally moved in to remove them, and as they were put in handcuffs, one of the men yelled: “Fair salary! Give us what...

February 18, 2022
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18Feb

Kenya’s pension industry eyes partnership with Chinese firms to spur investment returns

Kenya's pension industry said Thursday it plans to partner with Chinese firms in order to boost returns on investments. Sundeep Raichura, chairman of Kenya Pension Fund Investment Consortium (KEPFIC), told Xinhua in Nairobi, the Kenyan capital, that they are keen to collaborate with foreign firms that have the expertise to undertake viable infrastructure projects such as roads, rail and energy plants. Read also Ghana. GH¢10bn private pensions funds available for investment in GSE securities – Deputy MD "As the Kenyan pension industry,...

February 18, 2022
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18Feb

Japan. World’s Top Pension Fund GPIF to Reassess Stock-Lending Halt

Japan’s Government Pension Investment Fund is set to review the impact of its decision more than two years ago to stop lending shares, and intends to put the controversial move up for debate. The world’s biggest pension fund, which manages nearly 200 trillion yen ($1.7 trillion) in assets, should have enough data to determine what impact the move has had on its investments, GPIF President Masataka Miyazono told Bloomberg News in an interview in Tokyo on Wednesday. Read more @Bloomberg 565 views

February 18, 2022
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18Feb

Italy makes another attempt at pension reform as debt worries mount

Italy is working on a reform to make it easier for workers to retire early without bloating Europe’s second-highest pensions bill as rising borrowing costs fuel concern about the country’s huge public debt. Officials said that Mario Draghi’s government wants to inject more flexibility into the system while avoiding the fate of the unpopular 2011 reform that  raised the retirement age steeply but was suspended in 2018 after a backlash. Read also French Prime Minister Castex: pensions to be adjusted to...

February 18, 2022
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17Feb

UK. Pension chiefs encourage company stakeholder engagement

A group of pension executives has challenged companies to engage with their stakeholders and intensify their efforts to reach net zero emissions. The statement came in a letter to the Financial Times, signed by leaders from across the defined benefit and defined contribution spaces, Local Government Pension Scheme funds and private plans who are collectively responsible for more than £675bn in assets. Brunel Pension Partnership’s chief responsible investment officer Faith Ward, Nest’s chief executive Helen Dean and BT Pension Scheme Management’s...

February 17, 2022
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17Feb

Nigeria: LASG Pays Over N1 Billion to 222 Retirees’ RSA, Promises to Clear Backlog of Pensions

The Director-General of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana has said that the Lagos State Government has paid the sum of N1.04 billion to its retired workers. Obinala, who disclosed this at the 91st Batch Retirement Bond Certificate presentation Ceremony held in Lagos revealed that the state has cleared its pension contributions of 2018 - 2020 retirees under the contributory pension scheme. He assured the retirees that their contributions have been paid into their RSA. According to him, "despite the...

February 17, 2022
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17Feb

Australian market praised in latest pension study

Global pension fund assets have doubled in the last decade, with Australia's pension assets growing by 11.6% in 2021 and seeing it described as "the most successful pensions market". The latest Global Pension Assets Study from Willis Towers Watson's Thinking Ahead Institute shows global pension assets in the world's 22 largest markets now sit at US$56 trillion. This shows year-on-year growth of 6.9% in 2021. Interestingly, Australia has the largest growth rate of any country in the study over the past...

February 17, 2022
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17Feb

New pension changes coming for South Africa before the end of February

The National Treasury will introduce new pension fund regulations for South Africa before the end of February, says deputy finance minister David Masondo. The changes are aimed at ‘unlocking’ new investment in infrastructure by the private sector and form part of the process to amend Regulation 28 of the Pensions Fund Act to enable retirement funds to invest in infrastructure, Masondo said in his State of the Nation debate in parliament this week. “These amendments introduce more effective maximum limits for...

February 17, 2022
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16Feb

Global retirement assets hit $56.6 trillion in 2021 – Thinking Ahead Institute

Global institutional retirement assets set a new record in 2021, reaching $56.6 trillion by the end of the year in the 22 largest markets, according to a study released Wednesday by the Thinking Ahead Institute in London. Read also US. A monumental year pushes assets up 17% In the largest markets, 54% of those assets are in defined contribution funds, the study found. Retirement asset totals by the end of 2021 were up 6.9% from a year earlier, when they first surpassed...

February 16, 2022
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