March 2022
02Mar

UK firms rush to dump Russian assets amid efforts to isolate Moscow

British firms are scrambling to dump Russian assets amid efforts by the US, EU and UK governments to deepen Moscow’s economic isolation after the invasion of Ukraine. Read also More U.K., European investors move away from Russia Legal & General, Abrdn and state-backed pension scheme Nest have said they will try to sell their holdings in Russian stocks, while British Gas owner Centrica on Tuesday became the third big British energy firm to cut ties with Russia within a week, echoing...

March 2, 2022
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01Mar

U.S. funds reviewing next steps in light of sanctions against Russia

Federal mandates for sanctioning Russian financial institutions are prompting several U.S. public pension funds to assess their portfolios. Brad Lander, New York City Comptroller and fiduciary of the $266.7 billion New York City Retirement Systems, said in a statement Monday that while the system's five pension funds make individual investment decisions, including those related to divestment, he plans to present to trustees a list of assets to consider divesting. Read also US. NYPD pension fund to divest $42M of Russian-issued securities...

March 1, 2022
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01Mar

Canada. Public servants calling for B.C. public sector pension fund to divest Russian investments

B.C. public servants and opposition political parties are calling on the province’s public sector pension fund to divest in investments in Russian companies. In 2021, BC Investment Management Corporation holdings showed more than $450 million in Russian-owned companies. This includes $103.9 million worth of shares in the Russian state-owned bank Sberbank, $83.85 million in Lukoil, $32.3 million in Rosneft Oil, and $19.16 million in Gazprom. An online petition from pension plan members states they “don’t want to be bankrolling (Vladimir) Putin’s...

March 1, 2022
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February 2022
28Feb

U.S. asset owners react, mull responses to Ukraine invasion

U.S. asset owners, their supervisors, and state legislative bodies are grappling with the impact of Thursday's Russia's invasion of Ukraine. In Illinois, state Rep. Jim Durkin announced Thursday he would introduce legislation that would require the state's five pension funds to divest from any holdings in Russian companies. "This morning, we woke up to shocking images crossing our TV screens. People in cities throughout Ukraine huddled in subways and shelters while explosions shake their cities as Russian soldiers begin an invasion...

February 28, 2022
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25Feb

Russian actions vs. Ukraine have European investors on alert

Geopolitical conflict between Russia and Ukraine is making institutional investors in Europe nervous, with some pension funds reducing their Russian holdings, and others watching closely. Read also Investors, governments act on Russia’s escalation in Ukraine The political situation that has been brewing since late 2021 escalated dramatically Feb. 24, when Russian troops invaded Ukraine. That prompted other countries, including the U.S. and the U.K. to impose increasingly strict sanctions against Russia, and the prospect of more from Canada, Japan and Australia. European...

February 25, 2022
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Assessing the Macroeconomic Impact of Structural Reforms in Ukraine
24Feb

Assessing the Macroeconomic Impact of Structural Reforms in Ukraine

By Anil Ari & Gabor Pula Ukraine’s economic performance has been anemic since the early 1990s. A major impediment to productivity growth has been low investment, held back by lack of strong and independent institutions. This paper aims to assess the major areas of institutional weakness in Ukraine and quantify the long-term growth impact of catching-up to Poland in terms of the quality of major economic institutions and market development. Our analysis identifies the legal system as the area where...

February 24, 2022
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24Feb

Investors, governments act on Russia’s escalation in Ukraine

AkademikerPension, Gentofte, Denmark, is halting some Russian investments as the situation with Ukraine escalates, the pension fund said in a statement Tuesday. The evolving situation in Ukraine prompted several government moves. U.K. Prime Minister Boris Johnson informed Parliament Tuesday that sanctions will be imposed on five Russian banks and three high-net-wealth individuals. Mr. Johnson described it as "the first tranche" of sanctions. U.S. President Joe Biden announced Tuesday the U.S. is imposing sanctions targeting Russia’s sale of sovereign debt abroad...

February 24, 2022
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January 2022

Pensions will continue to grow in Ukraine in 2022 - Shmyhal
13Jan

Pensions will continue to grow in Ukraine in 2022 – Shmyhal

Pension payments will continue to grow in Ukraine in 2022, Prime Minister Denys Shmyhal has said. He said this at a government meeting on Wednesday, January 12, according to an Ukrinform correspondent. "An increase [in pensions] is expected this year. There are quite a few stages. In particular, the indexation of pensions is planned from March, including for working pensioners, and the program of additional payments will be extended to persons over 70 years of age. Recalculations will be made for...

January 13, 2022
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December 2021

Low Pension Savings in Ukraine: Ahead of Reform?
07Dec

Low Pension Savings in Ukraine: Ahead of Reform?

Ukraine took the penultimate place in the ranking of pension savings among the countries of the world. Despite the work of non-state pension funds in the country, people are reluctant to use their services. There are several quite simple reasons for this. But the low place of Ukraine in the rating can accelerate the introduction of a mandatory funded pension. Poverty and Mistrust According to the Organization for Economic Cooperation and Development (OECD), Ukraine is ranked second to last in terms...

December 7, 2021
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July 2021
08Jul

The slow-burn crisis inside Ukraine’s pension system

Adramatic situation with state pension provision is unfolding in Ukraine. In autumn last year, Ukrainian prime minister Denys Shmyhal stated that if “decisive measures” are not taken, then in 15 years the state will not be able to pay pensions. With the collapse of the Soviet Union, Ukraine inherited a so-called “solidarity pension system”: current pensioners are supposed to receive payments from pension contributions made by the working population. However, today the number of people employed in the Ukrainian economy...

July 8, 2021
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