March 2022
10Mar

US. Corporate pension buyouts record second-highest year in volume

U.S. corporate pension plan buyout sales totaled $34.2 billion in 2021, the highest volume since 2012, a LIMRA Secure Retirement Institute survey found. Volume should only increase as more U.S. corporate pension plans are showing interest in completing such deals, the institute said. For the fourth quarter, single premium buyout sales volume was $12.8 billion, down 19% from the $15.8 billion in volume in the third quarter and down 7.2% from the $13.8 billion in volume in the fourth quarter of...

March 10, 2022
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03Mar

Valmex steps up efforts to grow in Mexico’s stagnant private-pension segment

After 14 years at Principal, Luis Lozano, a champion of open architecture, joined Valmex in February 2021. Since then, the institutional-investments head has been working to enhance the pension segment of Valmex’s business, as he told Fund Pro Latin America in an exclusive interview. “It is necessary to develop the voluntary pension market, especially for those with higher income who are not fully covered under the traditional and obligatory pension market (via the Afores). In this segment, replacement rates are...

March 3, 2022
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February 2022
24Feb

GEPF Annual Report 2020/2021

By GEPF Economic environment The financial year ending 31 March 2021, was a ‘tale of two worlds’, with strong recovery from developed financial markets being contrasted by weak economic growth in most emerging markets. This effect was also mirrored by the divergence in vaccination rates between developed and emerging markets. Locally, the picture has been familiar. There was very strong growth in financial markets, however, this needs to be contrasted by the stark economic climate in South Africa. The impact...

February 24, 2022
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08Feb

AstraZeneca moves to terminate U.S. pension plan

AstraZeneca Pharmaceuticals LP, Wilmington, Del., has announced plans to terminate its U.S. defined benefit plan. The company informed participants in its AstraZeneca Defined Benefit Plan on Jan. 25 of its intention to terminate the plan, according to a statement emailed by AstraZeneca's media relations team. The termination "involves transferring the responsibility for payments, recordkeeping and asset management to a qualified, carefully selected insurance company with expertise in the long-term management of pension benefits," according to the statement. The U.S. defined benefit plan...

February 8, 2022
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03Feb

U.S. corporate pension plan funding rises slightly in January – 2 reports

The estimated funding ratio of U.S. corporate pension plans inched upward in January as a drop in liabilities offset sluggish investment returns, two new reports from Wilshire Consulting and Legal & General Investment Management America show. Wilshire's monthly report noted that the aggregate funding ratio for U.S. corporate plans increased by 0.4 percentage points to 95.8% as of Jan. 31 from Dec. 31. The slight increase in funding resulted from a 5-percentage-point decrease in liabilities that was partially offset by...

February 3, 2022
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January 2022
31Jan

UK. Millions of people miss out on pension cash due to strict rules

The Pensions and Lifetime Savings Association found that 47 percent of working individuals cannot afford to save for retirement. The current workplace pension criteria leaves young workers and low income earners “absolutely” forgotten about. The effects of the pandemic are starting to slam savers pockets, and with the gradual return to normality whilst inflation skyrockets will likely mean paycheques won’t go as far as they used to. Additionally, NOW: Pensions shared that the total number of people missing out on workplace...

January 31, 2022
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27Jan

Ghana. Some retirees under Second Tier receiving less than what is due them – Haruna Iddrisu

Minority Leader in Parliament, Haruna Iddrisu, has revealed that some retirees who are under the Second Tier pensions scheme are receiving less than what is due them at the moment. He described this as a disturbing situation that must be addressed immediately. The Second Tier is a defined contributory Occupational Pension Scheme mandatory for workers with 5% contribution made on behalf of members. The contribution is managed privately by approved Trustees. Speaking on the New Day on TV3 with Johnnie...

January 27, 2022
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24Jan

Companies’ U.S. Pension Plans Are More Overfunded Than They Have Been in Years

Companies’ U.S. pension plans are more overfunded than they have been in years amid strong equity markets. Those surpluses will likely go up further if long-term corporate bond yields continue to rise, as many of these plans use those yields to value their liabilities. That could prompt finance chiefs to revise their pension strategies. An estimated 40 of the largest 100 U.S. pension plans were funded at 100% or more in 2021, the most since 2007, and up from 16 in...

January 24, 2022
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14Jan

Occupational pensions statistics

By EIOPA About Occupational Pensions Statistics EIOPA provides statistical data on how institutions for occupational retirement provision in the EU and the European Economic Area (EEA) perform. The statistics contain aggregated country level information about the basic information, balance sheet, asset exposures, expenses, member data, contributions, benefits, and transfers. Data refers to the latest information available for each reference date. Our statistics are based on quantitative pensions data reports. Occupational pension institutions in the EU and the European Economic Area (EEA) provide...

January 14, 2022
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Jamaica launches historic tourism pension scheme
14Jan

Jamaica launches historic tourism pension scheme

Jamaica’s tourism industry made history on Wednesday with the launch of the long-awaited Tourism Workers Pension Scheme (TWPS). Read also Estonia. State to provide option of increasing second pension pillar deposits The scheme is expected to, directly and indirectly, benefit hundreds of thousands of people employed in the industry. Read also Wages and pensions fall in Uruguay due to economic policy A defined contributory plan supported by legislation, the pension scheme will require mandatory contributions by workers and employers. Read also Jamaica. Informal Sector...

January 14, 2022
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