November 2024
06Nov

Top Global Pension Funds Allocated $708bn to Private Equity

Global pension funds continue to increase their allocation to private equity, with the top 20 global pension funds with the largest dollar allocation to private equity devoting a total of $707.6 billion to the asset class so far in 2024. S&P Global Market Intelligence data revealed that the Canada Pension Plan Investment Board (CPPIB) has the largest allocation at $143.9 billion, representing more than 24% of its total assets. This was followed by the California Public Employees’ Retirement System with a $83.5...

November 6, 2024
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05Nov

Pension Funds Market Report 2024

By Research and Markets The pension funds market size has grown strongly in recent years. It will grow from $63.8 trillion in 2023 to $69.41 trillion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed in the historic period was driven by several factors, including increasing aging populations, improving economic conditions and growth rates, fluctuating long-term interest rates, evolving legislative and regulatory frameworks, enhanced performance in stock and bond markets, varying inflation rates, and changes...

November 5, 2024
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October 2024
31Oct

South Korea: Pension subscribers allowed to change pension fund managers starting today

Financial institutions in South Korea, including insurance companies, have been busy with plans to attract customers who wish to switch the companies managing their pension accounts. Starting today (31 October), pension subscribers are allowed to shift their accounts to other financial companies without having to terminate the pension plans with the pension fund manager they wished to move from. According to the Financial Supervisory Service, as of 30 September 2024, total pension funds amounted to KRW400.79tn ($290bn). Of this total, insurance companies accounted for KRW93.27tn...

October 31, 2024
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28Oct

Uruguay Elections: majority rejects pension reform and two candidates move on to the second round.

Early exit polls suggested opposition centre-left candidate Orsi had secured 44% of the vote, followed by Delgado's 27% for the ruling coalition and 16% for young conservative social media expert Andres Ojeda. Early exit polls in Uruguay's election suggest centre-left opposition candidate Yamandu Orsi is ahead of conservative rival Alvaro Delgado and a run-off vote is likely to be needed for a direct duel. Orsi had obtained 44% of the votes, according to an exit poll by Cifra, followed by Delgado's...

October 28, 2024
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24Oct

Pensionbee’s strategic US expansion backed by £20m funding as fintech eyes global pension market

Pensionbee, the online retirement savings provider, reported positive adjusted earnings in the last quarter and raised £20m for its US expansion. The London-based fintech firm saw a revenue increase in the third quarter, jumping to £9m from £6m the previous year. The company anticipates breaking even on an adjusted EBITDA basis by 2024. For the third quarter, it recorded its second consecutive quarter of positive adjusted EBITDA at £1m, as reported by City AM The firm also reported £5.5bn in assets under...

October 24, 2024
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23Oct

New pension longevity model launched by Oliver Wyman and Mercer

Oliver Wyman and Mercer, businesses of Marsh McLennan, has launched a new pension risk transfer (PRT) longevity model that will enable pension plan sponsors, direct insurers and reinsurers to better price and manage longevity risk. Drawing on Mercer’s US longevity dataset of over one million pension lives, the model leverages the combined actuarial strength and longevity expertise of Oliver Wyman and Mercer. It also incorporates socioeconomic and demographic factors to generate a granular view of longevity risk. The underlying technology of the...

October 23, 2024
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22Oct

$1.5 Trillion U.K. Pension Fund Eyes Entry into Crypto Tokenization

Legal & General (L&G), a major UK-based pension and investment management firm, is considering entering the blockchain tokenization market. With $1.5 trillion in assets under management, the company is considering how it can package its Legal & General Investment Management (LGIM) liquidity funds in a tokenized manner. Tokenization is the process of transforming tangible assets such as property, natural resources such as oil and gas and even paintings into digital tokens. This makes it possible for the average investor to own...

October 22, 2024
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15Oct

UK. Govt launches National Wealth Fund to drive pension fund investment

The government has officially launched the National Wealth Fund and announced reforms to other public institutions to encourage additional pension fund investment into high-growth UK companies. The UK Infrastructure Bank is to be overhauled and rebranded as the National Wealth Fund. The announcement was made by chancellor Rachel Reeves at the government’s International Investment Summit in London yesterday (14 October). The fund is to receive £27.8bn and an expanded investment remit to support the government’s new industrial strategy, also announced yesterday. Its remit...

October 15, 2024
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15Oct

UK. PASA launches pensions dashboards toolkit

PASA today published the first content in its new ‘Dashboards Toolkit’. The Toolkit will be updated over time and the first releases include: A questionnaire for trustees to issue to their AVC providers in advance of connecting their scheme AVCs to dashboards A checklist and suggested list of activities for administrators to connect to and maintain AVC data A list of AVC providers and their connection methods Geraldine Brassett, Chair of the PASA Dashboards Scheme Configuration sub-group, commented: “PASA has...

October 15, 2024
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14Oct

30% of young Koreans support abolition of national pension system: poll

About 30 percent of Koreans, aged between 18 and 49, support the abolition of the national pension system amid waning public trust in the fund, a recent poll shows. According to a survey, released on Sunday, people in those age groups share a distrust of the sustainability of the fund, which is expected to be depleted around 30 years in the future. Asked to choose one of four options to improve its financial soundness — increasing the premium rate, focusing on...

October 14, 2024
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