October 2019

22Oct

IOPS Supervisory Guidelines on the Integration of ESG Factors in the Investment and Risk Management of Pension Funds

Published today, IOPS Supervisory guidelines on the integration of ESG factors in the investment and risk management of pension funds highlight a range of challenges to be met by pension funds governing bodies, asset managers and pension supervisors. Environmental, Social and Governance (ESG) factors are key and timely issues for the investment and risk management of pension funds, whose consideration is relatively new in the landscape of regulatory frameworks of pension funds worldwide. They are also dynamically evolving and...

October 22, 2019
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22Oct

Biggest public pension fund in U.S. dumps private prison firms that run ICE migrant detention centers

The largest public pension fund in the United States is divesting from the two major for-profit prison companies running migrant detention facilities for the federal government, the California Faculty Association announced following a meeting with the California Public Employees Retirement System (CalPERS) on Friday. Read also Where does retirement income come from in the US? The move by CalPERS is part of a larger trend by pension funds and businesses that have pulled their financial backing from GEO Group and...

October 22, 2019
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22Oct

Nigeria: AfDB Advocates Unlocking of U.S.$1.8 Trillion AUM for Investment

The President of the Africa Development Bank (AfDB), Dr. Akinwunmi Adesina, has stressed the need to mobilise mutual funds and other Assets Under Management (AUM) in the continent put at $1.8 trillion, to drive Africa's development. He also said commercial banks who desire to get credit lines from the AfDB would have to increase lending to women-focused businesses, saying the bank was set to launch a rating for women- focused lending. Adeshina, said this in an interview on the...

October 22, 2019
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22Oct

UK. FCA calls for pension policy simplification

The Financial Conduct Authority (FCA) has called on pensions policy to be simplified for consumers due to the overly complex nature of defined contribution schemes. Speaking at the Cicero event on the future of regulation, FCA executive director of strategy and competition, Christopher Woolard, said that choices that members may not understand can make a “huge difference” to their retirement outcomes. He outlined the importance of advice for consumers in making these decisions and helping them understand the...

October 22, 2019
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22Oct

Japan. No excuse for inaction on pension reforms

In Japan, which faces an accelerated aging of the population with ever fewer births, a vague sense of anxiety over the public pension system is spreading. Generally speaking, future pension finance greatly fluctuates depending on demographic composition and changes in socio-economic conditions. Accordingly, the government examines the health of pension finance every five years to assess its condition. The result of the latest checkup, disclosed at the end of August, shows that the level of pension benefits about 20...

October 22, 2019
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21Oct

Melbourne Mercer Global Pension Index 2019 (MMGPI)

Ageing populations continue to be a significant issue for many economies as we are living longer and fertility rates continue to decline. Pension systems are becoming more important than ever as households want to maintain their living standards throughout retirement. But how is this possible, especially within the economic environment of low interest rates and reduced economic growth? There are implications for employers, employees, governments, as well as the pension funds. Pension reform is being considered in many countries,...

October 21, 2019
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21Oct

Irish pensions need urgent reform, industry specialist says

Irish pensions, which lag in the international rankings when it comes to sustainability, need urgent reform as the ratio of workers to retirees is set to fall dramatically over the next three decades, according to human resources consultancy Mercer. While the 2019 Melbourne Mercer Global Pension Index (MMGPI) , published on Monday, has found that Ireland stands in first place for adequacy of expected pension benefits, given the “comparatively generous” State pension, it only ranks 27th when it comes...

October 21, 2019
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21Oct

Croatia: retirement without peace

Most retired people in Croatia receive the standard pension, which for July was 2,228 kuna (€300). 15,546 retired people receive a pension of less than 1,000 kuna. Adding those who receive pensions in between the two amounts we arrive at the number of 586,613 persons with an income lower than 2,228 kuna, or 55.31 percent of retired people. Peace in retirement clearly still needs to be fought for. There is a whole series of problems with the Croatian pensions...

October 21, 2019
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21Oct

South Africa’s PIC to Mull Options to Ease Eskom Debt: Times

South Africa’s Public Investment Corp., the continent’s largest fund manager, will meet in November to consider options on how to help embattled state-run power utility deal with its debt, Sunday Times reported, citing PIC Chairman Reuel Khoza. A strategy meeting would look at how the asset manager could “come to the rescue or assist” Eskom Holdings SOC Ltd., the newspaper cites Khoza saying. The PIC would make sure “value of pensioners doesn’t get frittered away” if it steps in...

October 21, 2019
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21Oct

European private pension industry hit by negative returns in 2018

Savers across Europe with private pension plans endured a miserable year for performance in 2018 with widespread negative returns raising more concerns about the health of retirement systems across the region. Voluntary privately funded pension plans, known in industry jargon as Pillar III schemes, delivered net real returns (after charges and inflation were deducted) in 2018 ranging from minus 9.8 per cent in Estonia to a whisker above zero in Austria, according to Better Finance, the investor rights campaign...

October 21, 2019
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