March 2022

OECD adopts revised good DC design messages as recommendation
17Mar

OECD adopts revised good DC design messages as recommendation

The OECD has published a 10-point plan for the good design of defined contribution (DC) pension plans, elevating the updated “roadmap” to the status of an OECD Council recommendation. The initial guidelines were published in 2012, with the OECD’s working party on private pensions (WPPP) deciding to revise the report to incorporate all the work conducted over the years since and “to maintain its relevance given current contextual realities and the cumulated experience observed in OECD jurisdictions”. “It’s a comprehensive update...

March 17, 2022
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Inflation is causing some older Americans to delay retirement plans, survey shows
17Mar

US. Inflation is causing some older Americans to delay retirement plans, survey shows

As inflation rises, many Americans are shifting life milestones, including retirement. Some 13% of Gen Xers and baby boomers say they have postponed or considered delaying plans to leave the workforce due to soaring costs. Read also US. The Smart Way for Public Pensions to Divest from Russia That’s according to a survey from the Nationwide Retirement Institute, showing a cross-generational wave of Americans canceling or postponing major events due to rising prices. Read also Global Pension Asset Values Grow to Record $56...

March 17, 2022
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Research reveals shortcomings in retirement preparedness in the UK
17Mar

Research reveals shortcomings in retirement preparedness in the UK

Berkshire and Buckinghamshire residents are most prepared for retirement, despite only 52.3 per cent of residents being on track for a moderate income, the Hargreaves Lansdown Savings and Resilience barometer has revealed. The research showed that around 50.6 per cent of residents in Surrey, East and West Sussex were on track for a moderate retirement income, defined by the PLSA as around £20,800 per year for a single person and £30,600 per year for a couple. In addition to this, around...

March 17, 2022
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17Mar

Malaysia needs an all-encompassing national pension system

AS Malaysia joins the rest of the world in becoming an ageing society, it has become imperative for the government to address the challenges that increasing life expectancy pose to social security arrangements. Increasing life expectancy brings with it sweeping changes in population needs and capacities. The most evident sign is the strain on the pension system as the number of people requiring protection and support is on the rise. There are growing concerns that many are not prepared for a...

March 17, 2022
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US. G.O.P. Senate Hopeful Faces Scrutiny Over Handling of Teacher Pensions
17Mar

US. G.O.P. Senate Hopeful Faces Scrutiny Over Handling of Teacher Pensions

Before he entered Pennsylvania’s Senate race, David McCormick oversaw a giant hedge fund that invested billions of dollars for the retirement plans of the state’s teachers. But Mr. McCormick’s company, Bridgewater Associates, delivered such middling profits and charged such high fees that the Pennsylvania teachers’ retirement fund moved to sell off its Bridgewater holdings beginning two years ago. Overall, Bridgewater’s performance was a contributing factor in nearly a decade of poor returns for the retirement fund, trustees of the fund said...

March 17, 2022
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16Mar

US. The Smart Way for Public Pensions to Divest from Russia

With Russia’s brutal invasion of Ukraine demanding a response from freedom-loving peoples everywhere, the NATO nations and other countries around the world have embarked on a wide range of economic sanctions. Some of them are far more extensive than anybody had previously imagined possible, such as the freezing of Russian central bank assets and its global interbank access, and now the U.S. oil boycott. Amid this global expression of scorn, American state and local politicians are jumping on the...

March 16, 2022
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16Mar

UK. What impact could the Russian invasion of Ukraine have on pensions?

The terrible atrocities in Ukraine have had major consequences on the world from creating a large-scale humanitarian crisis to unnerving global stock markets. But platform Interactive Investor (II) said that the latter has “implications for the value of pension pots and by extension, retirement plans”. Read also China markets in turmoil as Russia ties add to list of risks Initially, the concern among pension savers was that they did not want to be invested in Russian companies. A number of pension providers...

March 16, 2022
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16Mar

Ghana. Peoples Pension Trust partners SCBF to introduces new Pension Scheme to support women

Peoples Pension Trust (PPT) has partnered the Swiss Capacity Building Facility (SCBF) to introduce new a pension scheme. The new programme; Scaling Gender-Focused Financial Resilience (SGFR) was launched to commemorate this year’s International Women’s Day. Read also Does Informal Sector Size Impede Economy Growth in Developing Countries? SGFR will support informal, marginalized, and excluded female workers and entrepreneurs to secure their future through micro-pensions. Globally 1.8 billion people are working in the informal sector, and in Ghana, this represents approximately 80% of the...

March 16, 2022
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UK pension schemes have little direct exposure to Russia, regulator says
15Mar

UK pension schemes have little direct exposure to Russia, regulator says

British pension schemes have very little investment in Russian securities, The Pensions Regulator's policy director said on Monday, though he added there were practical difficulties in selling them. Moscow's invasion of Ukraine has led to many firms rushing to offload Russian assets, though Western sanctions and counter-measures by Russia have made it hard to do so. "Russian stocks do make up a very small proportion of some global indices," David Fairs, The Pensions Regulator's executive director of regulatory policy, analysis and...

March 15, 2022
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Incorporating ESG into retirement strategies
15Mar

Incorporating ESG into retirement strategies

Environmental, social, and governance (ESG) has come to the forefront of policymaking within the financial services sector throughout the last the decade. Indeed, many industry leaders are keen to introduce ESG into their operations. A mixture of changing laws, regulatory rules, and growing demand from investors has influenced this push in collective conscientiousness that only took hold in the mid-2000s. In 2004 then UN Secretary-General Kofi Annan wrote to 50 CEOs within major financial institutions, inviting them to join an initiative...

March 15, 2022
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