June 2022
06Jun

US. Pension Funds Push for More Disclosure Rules for Private-Equity, Hedge Funds

Pension plans and other institutional investors are embracing a federal proposal that would force hedge funds and private-equity funds to provide more disclosures to investors. University endowments, insurance funds and retirement funds serving teachers and firefighters are urging the Securities and Exchange Commission to move forward with a proposed rule that would ensure private-fund investors receive annual audits and quarterly statements. The rule, which has been heavily criticized by the private funds and Republicans, would also prohibit fund managers from...

June 6, 2022
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May 2022
26May

Swiss regulator urges pension funds to check asset manager licenses

The Swiss occupational pension supervisory commission OAK BV is urging pension institutions including pension funds to check whether external asset managers still need the approval from the Financial Market Supervisory Authority (FINMA) to manage so-called collective assets. According to the Federal Act on Financial Institutions (FinIA), the two categories of managers of collective assets include asset managers of occupational pension schemes and of collective investment schemes. OAK BV is also recommending investment foundations, vested benefit foundations (Freizügigkeitseinrichtung) that receive the benefits...

May 26, 2022
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24May

Why ESG reporting needs to balance ‘purpose with profit’ for real impact

ESG investing is increasingly viewed as a lever for delivering value in a turbulent world. But there is a lack of transparency around reporting and companies aren't obliged to change their business practices. Companies need to go well beyond environmental regulatory requirements and drive social impact. The flow of capital towards ESG (environmental, social and governance) oriented funds has rapidly moved from a trickle to a deluge. In the third quarter of 2021 global sustainable funds hit a record high...

May 24, 2022
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23May

India. National Pension System: All NPS schemes will now indicate risk profiles

In order to enable National Pension System (NPS) subscribers to make informed decisions on allocating their contribution in various asset classes, pension funds will have to disclose risk profiling of all the schemes on their websites within 15 days from the close of each quarter. The Pension Fund Regulatory and Development Authority (PFRDA) has issued guidelines underlining six levels of risks—low, low to moderate, moderate, moderately high, high and very high. Based on the scheme characteristics, pension funds will have...

May 23, 2022
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19May

US. DoL Urged to Help Pension Plans Make Climate Impact

US pension plans should be required to disclose sustainable investment policies, according to the US Impact Investing Alliance. The alliance has called for mandatory action by the Department of Labor (DoL) in response to a request for input on potential new climate-related rules. It said providers of 401(k) pension plans should be subject to requirements to address the financial risks and impacts of climate change. In a letter to the DoL, Fran Seegul, president of the US Impact Investing Alliance, cited research...

May 19, 2022
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19May

UK. MPs urged to consider state auto-enrolment credits to combat gender pensions gap

State auto-enrolment (AE) contribution credits for career breaks could “radically change” the framework of occupational pensions and help reduce the inequality of the widening gender pensions gap, Hymans Robertson has said. In an open letter to the Work and Pensions Select Committee, Hymans Robertson partner, Chris Noon, argued that whilst the introduction of AE contribution credits would be a "significant cost" to government, time away from work is the biggest contributor to the gender pensions gap and needs to be...

May 19, 2022
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18May

UK. Perceptions of TPR’s performance quality deteriorate in 2021

The perception of the Pensions Regulator’s performance quality diminished last year, according to the watchdog’s ‘Perceptions of TPR’ report More than half (54 per cent) of respondents said TPR’s overall performance was good, while 15 per cent said it was very good. Read also UK. People with disabilities ‘have pension savings worth third of average pot’ Just over a fifth said the regulator’s performance was fair, while 1 per cent gave it a poor rating. The report is based on the 2021 perceptions...

May 18, 2022
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17May

US. Trade groups say DOL shouldn’t single out climate risk

Two high-profile trade associations have cautioned the Department of Labor from issuing new climate-specific regulations for retirement plan fiduciaries. The Labor Department in February issued a request for information on what it should do to "protect retirement savings and pensions from risks associated with changes in climate." The RFI follows a May 2021 executive order from President Joe Biden that directed federal agencies to assess and mitigate financial risks related to climate change. The RFI featured a host of questions on...

May 17, 2022
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16May

UK. Cost of living crisis could worsen pension scams

The cost of living crisis could worsen the number of pension scams according to wellbeing specialist People-tech. It warns people struggling with rising costs are likely to access their pensions and has relaunched a scam predictor tool. The pension scam predictor works as savers are asked a range of straight forward questions that a scammer might use to coerce them into transferring their pension. Once complete the predictor displays a likelihood of the pension transfer being a scam, listing the red flags...

May 16, 2022
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11May

UK. Queen’s Speech measures spark protests

There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said. Campaigners have promised to take to the streets to protest a bill aimed at tackling local boycott, divestment and sanctions campaigns by public bodies including the Local Government Pension Scheme. Meanwhile, pensions minister Guy Opperman has promised that a consultation into a new value for money framework...

May 11, 2022
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