October 2020

16Oct

UK. What the amendment to the Pension Schemes Bill could mean in the battle against fraud

During the maelstrom of seven months of Covid-19, we’ve grown used to hearing about a select number of reoccurring concerns, one of which is the menace of pensions fraud. Although pensions fraud is not a new phenomenon, there has been growing concern that the environment of uncertainty created by the global pandemic is enabling ruthless scammers even more freedom to wreak their misery. Barely a week has gone by without there being a round of headlines relating to the...

October 16, 2020
News, Slider, , , ,
Read more...
16Oct

India. Regulator Plans To Hike Fee Charged By NPS Fund Managers

Fund managers of the National Pension Scheme will soon be able to charge a higher fund management fee. Read also Canada. Commission on Aging to hear about COVID-19 impact on elderly at Oct. 21 meeting A committee, comprising members of the Pension Fund Regulatory & Development Authority as well as representatives of the mutual fund industry, is finalising a proposal for a new fee structure for the fund managers of the NPS, Supratim Bandyopadhyay, chairman at the regulator, said at...

October 16, 2020
News, Slider, , ,
Read more...
15Oct

OECD tells UK: Ditch pensions triple lock

The British government is being urged to abandon its pensions “triple lock” or face growing pressure on the public purse. The Organisation for Economic Co-operation and Development (OECD) said in a report published on Wednesday that the practice of indexing annual pension increases to the maximum of earnings growth, interest rates or 2.5% would put growing pressure on the UK at a time when public debt is already above £2tn ($2.6tn). Read also Half of UK pension funds seek...

October 15, 2020
News, Slider, , , ,
Read more...
13Oct

Portuguese schemes now required to report ESG investment

A new law has been introduced for Portuguese occupational pension funds requiring them to prepare a statement of investment policy principles detailing their approach to risk and to environmental, social and governance (ESG) factors. The law, which took effect last August, said the statement must include the methodology for assessing investment risk; risk management processes applied; and the asset allocation strategy followed, taking into consideration the type and duration of pension liabilities, as well as ESG factors. The statement...

October 13, 2020
News, Slider, , , ,
Read more...
08Oct

Canada. The Minister of Finance tables Bill 68 to allow the establishment of target benefit pension plans

Minister of Finance Eric Girard today tabled in the National Assembly Bill 68, the Act mainly to allow the establishment of target benefit pension plans (TBPP). In addition to offering Québec workers an additional savings option, the bill satisfies the needs of employers and employees, especially from the standpoint of sharing financial risks. A target benefit pension plan includes the characteristics of a defined-benefit pension plan and a defined contribution plan: the plan guarantees participants the payment of an...

October 8, 2020
News, Slider, , ,
Read more...
07Oct

UK. Pension bill amendment to give trustees power to halt transfers

Trustees of pensions schemes could soon be getting more powers to halt suspicious pension transfers, according to the Pension Scams Industry Group. Read also More sponsors in U.K. embrace outsourcing The group said an amendment restricting the statutory right to a transfer is to be tabled to the pension schemes bill by two MPs, in an attempt to combat pension scams. Read also Ireland. State’s pension scheme for public servants ‘more sustainable’ It had proposed the amendment in its submission to...

October 7, 2020
News, Slider, ,
Read more...
01Oct

US. Trump Plan Would Restrict Retirement Plans from Sustainable Investments: Viewpoint

Interest in sustainable investing is soaring, as more people become convinced that making a positive impact can be profitable as well as good for the planet and society. Unfortunately, the Labor Department doesn’t think these investments belong in your 401(k). In June, the federal regulator proposed a rule that would restrict workplace retirement plans from investments that include environmental, social and governance considerations. Popularly known as ESG or socially responsible investing, this approach considers the sustainability of a company’s...

October 1, 2020
News, Slider, , , ,
Read more...
01Oct

EIOPA sets up its key priorities in the light of the pandemic

The European Insurance and Occupational Pensions Authority (EIOPA) has set out its priorities for 2021-2023 taking into account the current market situation in the light of the COVID-19 pandemic, as well as the political priorities defined by the European Commission. COVID-19 crisis management, risk mitigation and active support to the recovery of the European economy will be the main focus for the future. Consumer protection will remain a key strategic priority in light of increasing risks emerging from the...

October 1, 2020
News, Slider, , ,
Read more...

September 2020

23Sep

EU financial regulators asses risks to the financial sector after the outbreak of COVID-19 and call for enhanced cooperation

The impact of the crisis on EU banks’ asset quality is a key concern as significant uncertainty about the timing and size of a recovery persists. The ESAs see a risk of decoupling of financial market performance from the underlying economic activity, and , a prolonged lower for longer interest rate environment which is expected to weigh on the profitability and solvency of financial institutions, as well as contributing to the build-up of valuation risks. Directly following the COVID-19...

September 23, 2020
News, Slider, , ,
Read more...
22Sep

Canada. OSFI launches discussion on tech risks to pensions, other federal financial institutions

The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks and other considerations regarding technological advancements impacting Canada’s financial sector. Along with a discussion paper, the consultation’s objective is to ensure federally regulated financial institutions and pension plans have solid strategies to manage non-financial risks. According to the agency, while rapidly advancing technology and digitization have been helpful to Canadian financial institutions, their swift adoption can be risky if not properly managed and understood....

September 22, 2020
News, Slider, ,
Read more...