June 2017

26Jun

Thailand. State pension fund sees strong upside in local stocks

The Government Pension Fund will give more weight to the Thai shares in the second half, citing ramped up big-ticket infrastructure investment and the high price of foreign equities. Yingyong Nilasena, chief investment officer at the GPF, said Thai stocks have an upside potential as state spending in infrastructure projects will boost the country's GDP. This expanditure will increase local consumption and private sector expansion. Moreover, Thai stocks are laggards in the region, while stock prices in developed markets have skyrocketed. The...

June 26, 2017
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26Jun

US. High Police and Fire Pension Rates Send Lawmakers Scrambling

A group of Arizona House lawmakers is launching an effort aimed at cutting the soaring costs to communities of police and fire pensions, with its leader warning that cities could end up declaring bankruptcy if legislators fail to act. The new committee announced by House Speaker J.D. Mesnard comes just over a year after 70 percent of voters approved changes to the state's public safety pension plan designed to return it to solvency in 20 years. The voter approval and separate...

June 26, 2017
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26Jun

UK. New solutions needed for defined benefit pension schemes

The Cass Pensions Institute says new solutions are needed in stressed defined benefit pension schemes to prevent intergenerational inequities. The Institute has responded to the Department of Work and Pensions Green Paper, Security and Sustainability in Defined Benefit Pension Schemes. The Greatest Good 2 paper follows up and reconfirms the findings of an 2015 Pensions Institute discussion paper which found that 1,000 occupational defined benefit (DB) pension schemes are stressed as a result of having financially weak sponsors. Professor David Blake, Director,...

June 26, 2017
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23Jun

UK. ‘Triple lock’ is unsustainable, says new Pensions Secretary David Gauke

The pension triple lock is no longer a sustainable policy, the new Work and Pensions Secretary has insisted. David Gauke said the mechanism would remain until 2020, but would then be "reflected" on. The Conservative manifesto pledged to abandon the triple lock on state pensions rises, which sees the state pension rise in line with either wages, inflation or earnings - whichever is highest. However, the flagship pledge was not mentioned in the Queen Speech after the Prime Minister failed to secure...

June 23, 2017
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23Jun

EBRD pioneers private pension management in Bosnia and Herzegovina

The EBRD is pioneering the development of private pension management in Bosnia and Herzegovina with an equity investment in the European Voluntary Pension Fund Management Company (EPF) together with Skupna pokojninska družba and the Pension Reserve Fund of Republika Srpska. The EBRD and Enterprise Expansion Fund (ENEF) will jointly invest BAM 1,452,000 (€742,500 equivalent) to purchase 33 per cent of the capital and voting rights in the joint stock company. The investment will allow the fund management firm to become the...

June 23, 2017
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22Jun

Nigeria. NLC asks Cross River to account for N31b bailout fund

The Nigeria Labour Congress (NLC) has asked the Cross River State Governor, Ben Ayade, to account for the N31.1 billion bailout fund the state received from the Federal Government. The Organised Labour in the state had on Monday resumed a total strike it suspended on May 30 demanding the payment of arrears of gratuity, release of promotion letters and many others, saying the Paris fund refund and the bailout funds were meant for payment of salaries, pensions and gratuities and...

June 22, 2017
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