November 2024
22Nov

Cardinal appointed for ‘urgent’ Vatican pensions overhaul

Pope Francis said he had taken an “essential step” by naming Cardinal Kevin Farrell “sole administrator” of the pension fund. Pope Francis appointed Cardinal Kevin Farrell to oversee “new and unavoidable” reform to the Vatican’s pension system as it faces a “serious prospective imbalance” that means changes can no longer be postponed. In a letter to cardinals, dicastery prefects, and managers in the Roman Curia on 21 November, the Pope emphasised the gravity of the unsustainability of the Vatican’s pension fund...

November 22, 2024
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15Nov

2024 Top 40 Money Managers Report: To divest or engage?

By Blake Wolfe With 15 different client organizations, including nine public sector pension plans, the Alberta Investment Management Corp. has opted to engage, rather than divest, from certain investments, particularly those in the energy sector. “One of the things we were very clear on, both for ourselves and in talking to clients, is that divestment wasn’t the way we wanted to go,” says Carmen Velasquez, the investment organization’s managing director of sustainable investing. “One of the things we talk a lot...

November 15, 2024
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15Nov

Lessons on strengthening pensions and social insurance for sustainable development

By Gustavo Demarco, Gonzalo Reyes, Diego Wachs & Aaron Buchsbaum In today's rapidly evolving world, robust pension systems and social insurance programs are vital for ensuring economic stability, financial inclusion, and the well-being of citizens, particularly in the face of aging populations. Understanding the multifaceted benefits of these systems, as well as the challenges in implementing sustainable pension systems, is crucial for informed policymaking. The World Bank is responding by revitalizing its in-depth training courses for government officials. In a recent course, experts...

November 15, 2024
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14Nov

Brazil. Military pensions post largest deficit among retirement systems

The segment is also the one with the most retirement benefits, according to a TCU report Targeted by the fiscal reforms under consideration by the government, Brazil’s military pension system (SPSMFA) recorded a deficit of R$49.73 billion last year, placing it as less sustainable than the General Social Security System (RGPS) and generating a per capita deficit 17 times higher. This data appears in a separate report by Walton Alencar of the Federal Court of Accounts (TCU), presented during the review...

November 14, 2024
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04Nov

Pension warning: Britons withdrawing £500 a month face ‘very real threat’ of running out of money in retirement

Britons are warned they could run out of money in retirement if they withdraw £500 a month from their pension. The warning comes from the Retirement Income Market data from the City watchdog, the Financial Conduct Authority (FCA) which showed that well over 220,000 pension pots had a withdrawal rate of more than eight per cent in 2023/24. This surge in high withdrawal rates has raised alarms among financial experts as pension drawdown continues to be the most popular option. Almost 280,000 savers...

November 4, 2024
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October 2024
16Oct

Mercer CFA Institute Global Pension Index 2024

By Mercer, CFA Institute, Monash Business School The Mercer CFA Institute Global Pension Index benchmarks 48 retirement income systems around the world, highlighting challenges and opportunities within each. Vietnam was added to the mix this year. We used updated data from the OECD and other international agencies and added some new questions to the integrity sub-index. The index is made up of three sub-indices, namely adequacy, sustainability and integrity, to measure each retirement income system against more than 50 indicators. This...

October 16, 2024
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16Oct

Higher Contributions, Net Replacement Rates Make World’s Best Pensions

Which countries have the best retirement systems? The Netherlands, Iceland and Denmark are the top three, according to the 2024 Mercer CFA Institute Global Pension Index. The top three were unchanged from last year’s report. The 16th annual survey benchmarked and compared the retirement systems of 46 countries, with a secondary purpose of highlighting shortcomings in each system and suggesting areas of reform. Among the characteristics present in the top-rated plans, the researchers identified: A public pension for the aged poor of at...

October 16, 2024
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04Oct

The Sustainable Investment Report 2024

By Dan Wills We are delighted to present the latest in our IFA Annual Report Series; The Sustainable Investment Report 2024. There are many facets of sustainability and companies are having to change their processes and behaviours to work towards our sustainable future. Researched and written by leading Compliance Consultant Tony Catt, this report is intended to provide a snapshot of the current situation and thinking from across the industry, in relation to the matter of sustainability in investment solutions. Get the report...

October 4, 2024
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03Oct

UK. FCA: ‘We’ve raised the bar, we never expected all funds to get SDR label’

There is a “healthy pipeline” of funds applying for SDR investment labels, in line with where the regulator expected the market to be at this stage, the Financial Conduct Authority has said. Alicia Kedzierski, head of sustainable finance at the FCA, told delegates at the UKSIF Good Money Week conference 10 labels had been awarded as of yesterday (October 2) and many more were in the pipeline. Though she could not say how many labels the regulator expects to authorise before...

October 3, 2024
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01Oct

UK. Industry must work to improve communication on sustainable pensions

There is an “enormous amount of work” to do to improve communication with savers about sustainable pensions, Harmonics founder and CEO, John Dithfield, has argued. Speaking at a Good Money Week event yesterday (September 30), Dithfield discussed the complexities of sustainable pensions and how difficult it can be for savers to fully understand them. “What should savers look for in a pension? I think it is very difficult really,” he said. “The real problem for people is the complexity of understanding what’s...

October 1, 2024
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