November 2023
03Nov

Alberta pension plan: Analysis of costs, benefits, risks and considerations

By LifeWorks Alberta Treasury Board and Finance (ATBF) has engaged LifeWorks to prepare a detailed analysis of the costs, benefits and structure of a potential Alberta Pension Plan (APP). This analysis includes actuarial, economic, legal, and technical information regarding the establishment and ongoing operation of an APP. This analysis will give ATBF a clearer picture on what a future provincial pension plan may look like and help answer key questions that Albertans are asking about the costs and benefits of such a move. This report does...

November 3, 2023
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03Nov

ESG in China: A review of practice and research, and future research avenues

By Hongtao Shen, Honghui Lin, Wengi Han & Huiying Wu   This paper reviews the practice and research on environmental, social and governance (ESG) in China. It finds that (1) under China’s top-down framework, ESG practices have grown substantially in ESG disclosure, ESG rating and ESG investing; and (2) ESG research has focused on corporate ESG disclosure and performance as well as ESG investing. Although the topics of the ESG studies reviewed in this paper are similar to those of ESG...

November 3, 2023
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03Nov

The Impact of Population Aging on Financial Services and Economic Development

By Hongyu Fang With the increasing aging population, it has had a profound impact on the financial services industry and economy. This study aims to explore the effect of population aging on the financial service industry and economy and propose corresponding countermeasures and suggestions. The aging population has brought challenges to the financial services industry. The increase in the elderly population has led to a rise in demand for financial products and services. Financial institutions innovate and develop financial products...

November 3, 2023
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03Nov

CrusaderSterling Pensions bags Africa’s Most Innovative Pensions Fund Management Company of the Year 2023 award

CrusaderSterling Pensions Limited (CPL) has been honoured for its exceptional dedication and innovation at the 4th Africa Financial Technology Congress (AFTC), where it was awarded “Africa’s Most Innovative Pensions Fund Management Company of the Year 2023.” This recognition serves as a testament to CrusaderSterling Pensions’ unwavering commitment to delivering financial solutions that empower individuals to secure their financial futures. The company has consistently demonstrated its ability to embrace technological advancements, implement new strategies, and adapt to the evolving needs of its...

November 3, 2023
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October 2023
31Oct

UK trustees should challenge advisors but government needs to lead change

Around £1.2 trillion of UK pension fund assets lies in around 5,000 defined benefit schemes that primarily invest in Gilts and corporate bonds. With a suite of initiatives, the government is attempting to get the country’s fragmented DB (and DC) pension sector to invest more in illiquid assets and help fuel economic growth, as well as exploring how to consolidate these funds into larger pools. The biggest UK pension funds like Railpen, Nest and LGPS already invest in alternatives and nine...

October 31, 2023
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30Oct

How Nigeria’s Contributory Pension Scheme Grew 52% in Three Years

The Director General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has said pension assets under the Contributory Pension Scheme (CPS) surged by N5.94 trillion or 52.3 per cent over the last three years from N11.35 trillion in August 2020 to N17.29 trillion in August 2023. The CPS is an arrangement where both the employer and the employee contribute a portion of an employee’s monthly emoluments towards the payment of the latter’s pension at retirement. Speaking recently on the development...

October 30, 2023
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30Oct

Korea’s national pension fund logs over 10% return through October

Korea's state pension fund registered some 10 percent yield through October on the back of good performance in its investments in local and overseas stocks, its operator said Monday. The National Pension Service (NPS) said the national pension fund logged a 10.27 percent return in the January-October period, with the value of its assets under management reaching 997.38 trillion won ($739 billion) as of end-October. Last year, the pension fund logged its worst return at minus 8.28 percent amid jitters in...

October 30, 2023
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27Oct

UK. New charter calls on political parties for pension reform

The Building a Consensus for Better Pensions charter unifies voices from across the pension industry in calling on major political parties for reform. Organisations from across the pension industry signed a new charter last week calling for reform to the pension savings system. The Pensions and Lifetime Savings Association (PLSA), the Association of British Insurers (ABI) and Age UK were among signatories calling on major UK political parties to prioritise pension reform in their manifestos ahead of the next General Election. “It’s almost 20...

October 27, 2023
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27Oct

Canada. Finance ministers to meet on Alberta’s proposal to leave Canada Pension Plan

Finance Minister Chrystia Freeland has agreed to convene a meeting with provincial and territorial finance ministers to discuss Alberta’s proposal to withdraw from the Canada Pension Plan. The agreement comes after Ontario Finance Minister Peter Bethlenfalvy called for the meeting in a letter to Freeland, saying Alberta’s withdrawal could cause “serious harm.” Freeland says any province has the right to leave the program, but it’s important the decision “be based on facts and be clearly and well informed. “It is absolutely my...

October 27, 2023
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25Oct

World’s largest sovereign wealth fund loses $34 billion as all asset classes fall in third quarter

Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, on Tuesday reported losses of 2.1% in the third quarter, as all asset classes fell in value. The so-called Government Pension Fund Global returned a loss of 374 billion Norwegian kroner ($34 billion) in the third quarter, citing a weaker three-month period, compared with the first half of the year. The results were still 0.17 percentage point stronger than the return on the fund’s benchmark index. The fund last reported a quarterly loss...

October 25, 2023
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