Pension Management Archives - Page 43 of 92 - Pension Policy International

27SepSeptember 27, 2022

UK. Pension schemes and inflation

In the 12 months to August 2022, RPI has increased by 12.3% and CPI 9.9%. With this recent significant rise in inflation, employers and trustees have been asking what the impact of this is upon their defined benefit pension schemes. Members are also concerned that, against high inflation and a 'cost of living crisis, their pensions will maintain their value in real terms. Impact on benefits Defined benefit schemes The rapid rise in inflation means that members of defined benefit pension schemes...

September 27, 2022

NewsPension Management, UK

27SepSeptember 27, 2022

Ghana. Total pension funds increased by 18% to ¢39.6bn in 2021

Total pension funds of the Three-Tier Pensions Scheme increased by 18% in 2021 to ¢39.6 billion, the latest Financial Stability Review by the Bank of Ghana has revealed. This is however lower than the 27% recorded in 2020. The decreased growth rate was attributable to the ongoing lump sum payments under the private pension schemes and a marginal growth of the Basic National Social Security Scheme (BNSSS). Also, private pension funds continued on a positive growth track in 2021. Total private pension funds...

September 27, 2022

NewsGhana, Pension Management

20SepSeptember 20, 2022

African Women Impact Fund launches with USD$60 million commitment to drive an inclusive investment environment

The Economic Commission for Africa (ECA) and Standard Bank Group, with the support of the Arab Bank for Economic Development in Africa (BADEA), the Motor Industry Retirement Funds (MIRF) and Copartes Pension Fund and the African Union Commission (AUC), have announced the African Women Impact Fund (AWIF) Initiative's achievement of its first commitment of USD$60 million. The announcement was made at the inaugural The Global Africa Business Initiative, held from 18 – 19 September during the week of the United...

September 20, 2022

NewsAfrica, Equality, Gender Gap, Pension Management

20SepSeptember 20, 2022

The U.S. retirement system gets a ‘C+’ grade, experts say — even though it’s worth $39 trillion. Here’s why

The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment Company Institute. However, the U.S. places well outside the top 10 on various global retirement rankings from industry players, such as the Mercer CFA Institute Global Pension Index and Natixis Investment Managers 2021 Global Retirement Index. According to Mercer’s index,...

September 20, 2022

NewsPension Management, System sustainability, US

15SepSeptember 15, 2022

US. State treasurers, NYC react to ESG backlash

An open letter signed by 13 state treasurers and New York City's comptroller Wednesday takes aim at what they call the "political backlash" against ESG investing by public pension and related funds. "Several states in our country have started blacklisting financial firms that don't agree with their political views," said the letter signed by state treasurers from California, Colorado, Delaware, Illinois, Maine, Massachusetts, Nevada, New Mexico, Oregon, Rhode Island, Vermont, Washington and Wisconsin, and New York City Comptroller Brad Lander,...

September 15, 2022

NewsCorporate Governance, ESG, Pension Management, Regulation, US

14SepSeptember 14, 2022

Florida pension fund report shows support for ESG proposals, including at Exxon

Pension fund supported more than 40% of social-related proposals amid anti-ESG resolution Florida State Board of Administration, Tallahassee, voted in favor of more than 40% of social-related shareholder resolutions and nearly 30% of environmental-related shareholder resolutions during the fiscal year ended June 30, according to a report included with materials for the board's investment advisory council on Tuesday. The board, which oversees $228 billion in assets including the $180 billion Florida Retirement System, supported 50.1% of shareholder-proposed ballot resolutions at Russell...

September 14, 2022

NewsCorporate Governance, ESG, Pension Management, Regulation, US

14SepSeptember 14, 2022

Prudential and MetLife entrusted to fulfill $16B in pension obligations for 100,000 IBM retirement plan participants and beneficiaries

Prudential has been selected to participate in a $16 billion pension risk transfer transaction with International Business Machines Corporation (IBM), the second-largest pension risk transfer ever in the U.S. market. Under the terms of the agreement, The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), and Metropolitan Life Insurance Company (MLIC), a subsidiary of MetLife, Inc. (NYSE: MET), will each insure 50% of the pension benefit payments for each of the approximately 100,000 IBM...

September 14, 2022

NewsPension Management, Risk transfer, UK, US

14SepSeptember 14, 2022

UK. Communications around pensions branded ‘as dull as dishwater’

Business magnate Deborah Meaden urges companies to up their game Poor communications that fail to engage people with their pension savings are hampering both the uptake of greener pension options and companies’ willingness to promote them, says Deborah Meaden. Speaking at a Make My Money Matter (MMMM) event yesterday (12 September) the entrepreneur and businesswoman said companies "need to open about their definition of sustainability". Meaden appeared alongside MMMM co-founder and film producer Richard Curtis where she discussed her long-standing commitment to...

September 14, 2022

NewsPension Management

09SepSeptember 9, 2022

Dutch pension funds sell $92.3 billion in assets, partially related to interest-rate hedges

Dutch pension funds sold €88 billion ($92.3 billion) in assets in the first six months of the year, in part to meet payments required under derivatives contracts, De Nederlandsche Bank said. Pension funds using derivatives contracts to hedge against interest rate rises have faced increased collateral calls due to rising rates, since the price of bonds has fallen in tandem. DNB said in an update Thursday that pension funds contributed €82 billion to margin accounts in the first six months of...

September 9, 2022

NewsNetherlands, Pension Management

09SepSeptember 9, 2022

South Africa. EPPF confirms repayment of R30m in Brian Molefe pension order

Molefe is applying for leave to appeal the high court judgment requiring him to return R10m to the fund, possibly delaying resolution of the matter: Lorato Aphiri – Legal Advisor, Eskom Pension and Provident Fund. FIFI PETERS: Let’s shift on to the latest happenings coming out of the Eskom Pension and Provide Fund. They’ve said that the former Eskom boss, Brian Molefe, is still not paying back the money that is owed to the pension and provident fund. This relates...

September 9, 2022

NewsPension Management, South Africa

September 2022