April 2024
05Apr

UK: FCA to examine asset management fees, pensions

The UK’s Financial Conduct Authority is to launch a market study on asset management to examine charges paid by investors, the regulator said on Tuesday, as it laid out its business plan for the coming year. Other areas of focus include examining whether pension firms are helping consumers make the right choices, following an overhaul announced in 2014 which eased requirements on people to buy annuities as part of their pension. “The business plan is set against the backdrop of the...

April 5, 2024
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March 2024
27Mar

Global top 300 pension funds

By Thinking Ahead Institute The global top 300 pension funds is an annual study conducted by the Thinking Ahead Institute, in conjunction with Pensions and Investments. The research highlights high-level trends in the pension fund industry and provides information on how the characteristics of these top funds have changed. Get the report here

March 27, 2024
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27Mar

Report on long term investing of large pension funds and public pension reserve funds 2023: Annual Survey of Large Pension Funds and Public Pension Reserve Funds

By Organization for Economic Co-operation and Development This is the tenth edition of the OECD survey of large pension funds and public pension reserve funds that collects long-term investment data since it was first published in 2011. The scope of this report covers 87 public and private pension funds from 34 countries. This survey is based on a qualitative questionnaire sent directly to large pension funds and public pension reserve funds. It covers the infrastructure investments made by large pension...

March 27, 2024
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27Mar

UK. Data shows public concern about pensions adequacy and climate change

Most of the public want the government to do more to address pensions adequacy and to ensure the industry is tackling the climate crisis, research from ShareAction, Make My Money Matter and Finance Innovation Lab finds. The research from the responsible investment organisations – which polled 2,000 UK adults this month – found three quarters (77%) of the public were concerned about adequacy, while two thirds (65%) wanted the pensions industry to address climate change. As part of its work, the group put...

March 27, 2024
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26Mar

Majority of U.K. DB plans looking for buy-in or buyout

More than half (53%) of the U.K.’s large defined benefit plans are planning for an insurer buy-in or buyout within the next three years, according to research by insurance and asset management firm Legal & General. In 2023, around £50 billion of U.K. retirement income was secured with insurance companies through pension buy-ins and buyouts. When it came to investment strategy, three quarters of respondents affirmed that they were decreasing allocations to illiquid assets. Insurers have previously expressed caution in engaging...

March 26, 2024
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25Mar

South Africa. Two-pot system: how the state is dealing with its own funds

There are three pension funds in the country, including South Africa’s largest fund, that are not governed by the Pension Funds Act, and National Treasury needs to deal with these separately in implementing its famous two-pot retirement system. I refer to three government pension funds, in particular the Government Employees Pension Fund (GEPF), which holds more than R2.3 trillion in assets and has almost 1.3 million active members and another 475 000 pensioners and beneficiaries. This fund is constituted under...

March 25, 2024
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22Mar

U.S. Pension Risk Transfer. 2023 Reflections and Looking Ahead

By AON The U.S. pension risk transfer (PRT) market saw another record-breaking year in 2023. After setting record highs for total premium in 2021 and 2022, the market set a new high-water mark for the total number of transactions in 2023 with 773 deals closing during the calendar year. These transactions resulted in $45 billion of premium transferred. Since 2012, $318 billion of pension obligations have transferred from plan sponsors to insurance companies. On the other side of the equation, insurer...

March 22, 2024
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22Mar

Pension funds and fossil fuel phase-out: historical developments and limitations of pension climate strategies

 By Clara McDonnell Despite the decades of international climate negotiations and several landmark agreements, global efforts to date to restrict fossil fuel production in line with climate targets have been unsuccessful. As national and international policies continue to fall short of phasing out fossil fuels, increasing attention has been paid to non-state actors, like pension funds, as a potential source of more ambitious climate action. As major asset owners, large shareholders in fossil fuel companies, and historically activist investors, pension...

March 22, 2024
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22Mar

U.S. PRT transactions hit all-time high in 2023 – Aon

U.S. pension risk transfer transactions totaled $45 billion and set a new record for number of transactions for 2023, according to a new report from Aon. There were a total of 773 transactions, which include pension buyouts as a result of retiree liftouts and terminations, along with a small number of buy-ins in which liabilities are insured but remain with a plan sponsor, according to the report. Of that total, there were 453 terminations, 310 liftouts and 10 buy-in transactions, accounting...

March 22, 2024
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22Mar

Chief Risk Officers Say Cybersecurity Most Pressing Risk: Survey

In an inaugural EY/Institute of International Finance (IIF) global insurance risk management survey, cybersecurity was ranked as the highest concern for chief risk officers. CROs surveyed said the top five risk types or risk management types for the coming year were: 53% – Cybersecurity risk 35% – Insurance risk (e.g., underwriting risk, including lapses, catastrophic (CAT) and longevity risk) 32% – Business model change/transformation 26% – Credit risk (including country, sovereign and concentration risk) 24% – Tied between capital allocation, interest...

March 22, 2024
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