Despite rising household incomes for retirees, many are still struggling and could benefit from the support provided by Pension Credit. Applicants could get additional income every week. Recent data from the Department for Work and Pensions showed that in 2021 pensioners had an average income of £361 after housing costs,Read More →
The Ethos Foundation, along with seven other Swiss pension funds, are pressuring Credit Suisse to set up a special audit to look into the Greensill case and the information leaks that revealed the bank had suspected criminals, autocrats and war criminals as clients. Separately, ShareAction, which coordinates a climate change-focusedRead More →
Pension credit applications need to be “de-cluttered” and in future automated to help older people facing soaring bills, according to an influential financial industry veteran. Take-up is currently “low” with around 850,000 eligible households without pension credit, says Henry Tapper, who is setting up a task force to reduce pensionerRead More →
Dutch pension funds that want to make the transition to the new defined contribution (DC) system can immediately increase investment risk as they will no longer be required to hold buffers, according to the latest version of the new Dutch pension law. pensions. Pensions Minister Carola Schouten presented the revisedRead More →
© Reuters. (Bloomberg) – As tempting as it is to attribute the stock market’s meteoric rise to expectations that the economy will prosper despite war and inflation, other forces are at work in the rally. How much they are responsible for is a serious question for traders and central bankRead More →
(Bloomberg) – As tempting as it is to attribute the stock market’s meteoric rise to expectations that the economy will prosper despite war and inflation, other forces are at work in the rally. Bloomberg’s Most Read How much they are responsible for is a serious question for traders and centralRead More →
Nigerian contributors often wonder where their pension contributions are invested and whether their funds are in safe hands. Therefore, it becomes imperative to explain the contributory pension scheme and how the pension contributions are invested by the administrators of the pension funds, PFAs. The Contributory Pension Scheme (CPS) is aRead More →
UK pension fund managers write off billions of pounds of frozen Russian assets held for their members as they run out of options to sell them safely, adding to risks to their invasion funding positions of Ukraine by Russia. The funds have in many cases written down the value ofRead More →
Band Carolyn Cohn and Iain Withers LONDON, March 28 (Reuters) – UK pension fund managers write off billions of pounds of froze Russian assets held for their members when they had no options to sell them safely, adding to the risks to their funding positions from Russia’s invasion of Ukraine.Read More →
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Most pension funds wrote down Russian assets – regulator Companies supporting the funds also face the economic blow of war Funds deflect divestments for fear of selling to oligarchs Some “do not buy” policies for companies with Russian operations LONDON, March 28 (Reuters) – British pension fund managers are cancelingRead More →
There are a number of changes from the Department for Work and Pensions (DWP) that will come into effect in April for millions of benefit claimants. This will include increased payments for those claiming Universal Credit, Personal Independence Payments (PIPs) and Pension Credit. As well as an increase in payments,Read More →
Sweden’s financial watchdog, Finansinspektionen, is urging the country’s insurance and pension companies to check their solvency levels regularly amid the war between Russia and Ukraine, despite low exposure to the region. The watchdog said a recent survey it conducted, due to “the troubled economic situation created by Russia’s invasion ofRead More →
Sascha Lavin examines the extent to which British advice supported companies linked to Vladimir Putin’s war effort At least a quarter of UK city council pension funds have recently held shares in Russian banks and companies that have been sanctioned by the West following Vladimir Putin’s invasion of Ukraine, theRead More →
The Minnesota House voted unanimously on Wednesday to withdraw state pension funds from Russia, joining US states in putting financial pressure on the country over its war in Ukraine. The Minnesota Public Employees Pension Fund had about $53 million in investments in Russia before its invasion of Ukraine. The valueRead More →
Nordic pension funds appear to be maintaining their exposure to Chinese equities at a time when some of their Australian counterparts are reducing theirs due to political risks, according to comments from four major pension funds in the region. Australian pension funds were reported by the Financial Times on MarchRead More →
New York’s top financial stewards have welcomed the Securities and Exchange Commission’s proposed rule to require companies to disclose climate-related financial risks. State Comptroller Thomas DiNapoli and City Comptroller Brad Lander welcomed the SEC’s proposal, saying environmental transparency is good for state and city pension plans. “This proposed rule willRead More →
While defense companies are excluded from some investment portfolios for ethical and other reasons, the war in Ukraine has led to expectations of increased government spending in the sector and therefore a spike in share prices for Lockheed Martin, Leonardo and others. Despite their responsible investment policies, some large pensionRead More →
We have recently seen an increase in the number of people applying for pension credit. However, as the cost of living increases, there are still hundreds of thousands of retirees who may be eligible and who are not – including the readers of this document. They miss out on thatRead More →
“Both AustralianSuper and HOOPP are high caliber shareholders and their decision to invest in our business is an affirmation of the quality of our team, our strategy and our long-term vision,” Wahby told staff. He said Greencross sales have grown 18.5% per year based on a compound annual growth rateRead More →
Nordic pension fund investment managers say they expect the European Central Bank (ECB) to tighten monetary policy as its US and UK counterparts have already hiked rates, after the outbreak of war in Ukraine exerted upward pressure on inflation. In a blog posted on March 13, Jesper Rangvid, professor ofRead More →
Millions of people depend on state benefits to help them make ends meet. Issued by the Department for Work and Pensions (DWP), these vital payments are usually paid at the same time each month. However, dates may change when it comes to public holidays such as Christmas and Easter. ThisRead More →
PENSION Credit claimants will receive larger payments within days as the benefit is increased. The standard amount will increase by £436 per year for couples, while individuals will receive an additional £286 per year. 1 Anyone who gets a pension credit or any of the additional items will see theirRead More →
SOFIA (Bulgaria), March 17 (SeeNews) – The number of Bulgarians switching between supplementary pension insurance funds increased by 12.2% quarter-on-quarter in the last quarter of 2021, with contribution transfers totaling 349.1 million levs ($196.3 million/€178.5 million), the country’s financial watchdog said. In the last three months of 2021, a totalRead More →
Pension Credit claimants can claim a free TV license worth £159 a year – a significant saving amid rising household bills. A Statista survey found that 93% of people aged 56 and over in the UK watch ‘linear’ TV every week. This means they watch programs at their scheduled timeRead More →
Pension credit claimants can claim a free TV license and save hundreds on their bills. Television licenses are important for older generations and the traditional style of watching the normal television program is much more common among older viewers. A Statista survey found that 93% of UK viewers aged 56Read More →
Italian pension funds have been caught in the crossfire of current geopolitical tensions, suffering the consequences of the war in Ukraine on global stock markets. Assets under management at Inarcassa, the Italian pension fund for independent engineers and architects, fell below 13 billion euros at the end of February dueRead More →
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Two Dallas pension funds that manage billions of dollars in retirement benefits for city employees have at least $7 million in Russia-related investments. But the fund managers made no formal request to dispose of the assets after the city council voted last week to suspend the city’s ties with Russia.Read More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
New York City Comptroller Brad Lander appears to be gearing up for alternative investments. Lander, which is the custodian of $274.7 billion in assets held by New York’s five public pension funds, recently called on state lawmakers to update a law and increase the amount that City pension funds canRead More →
Pensioners can claim a free TV license each year, saving them over £100 a year. Pensioners who receive a pension credit benefit may qualify for a free license. A color TV license currently costs £159 per year. However, some retirees can obtain their permit completely free of charge by claimingRead More →
As people struggle to cope with the cost of living amid rising inflation and rising energy bills, Britons are being urged not to suffer in silence. Millions of people with certain benefits could save money on things like NHS prescriptions. As the cost of living crisis continues to dominate theRead More →
Although pension funds have come a long way in their use of ETFs, “ETF adoption in the pension industry is still in its infancy,” according to Adam Schenck, Managing Director and Managing Director of Milliman Chicago-based Financial Risk Management LLC, which underadvises approximately $6.6 billion in ETF assets for TransamericaRead More →
The term tracks the funding gap which deprives UK SMEs of the finance they need to grow. Above all, this gap can widen in times of crisis, such as the economic uncertainty of the past two years caused by the Covid-19 pandemic. Currently, it is estimated that there is upRead More →
Pensioners can save hundreds of pounds by claiming their free TV license under a DWP scheme. Recipients of pension credit may be eligible for a free license, which currently costs £159 per year for the color TV license. Pension Credit is a benefit paid by the Department for Work andRead More →
Pension funds should increasingly invest with impact, according to a survey by the Impact Investing Institute and EY, the professional services firm. The UK impact investing market had approximately £58 billion in assets under management at the end of 2020. Only 1% of this was attributed to pension fund managers.Read More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s big pension funds said their investment managers bought Russian assets before RussiaRead More →
Australian pension funds are pulling out of Chinese stock markets amid fears that President Xi Jinping’s “common prosperity” policy has increased the risk of government interference in the private sector. Senior pensions executives told the Financial Times they fear that under the policy launched last year by Beijing in anRead More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
(Photo by OZAN KOSE/AFP via Getty Images) AFP via Getty Images As economic sanctions against Russia for its invasion of Ukraine spread, state and local public pension plans are considering selling their Russia-related assets and some are already doing so. Lawmakers in at least a dozen states are pressuring theirRead More →
Minnesota lawmakers are pushing to sever all state financial ties to Russia following its attack on Ukraine, including withdrawing millions from state pension funds and indefinitely banning government agencies to conclude contracts with companies having ties with the Russian Federation. “We stand with Ukraine and free democracies around the worldRead More →
When climate change activists lobby council pension funds, they often prioritize one action over all others: divestment from fossil fuel stocks. But while climate change is a central concern for the Local Government Pension Scheme and recognized as a significant risk to its investments as well as the environment, mostRead More →
ST. PAUL, Minnesota (WCCO) – A bipartisan proposal unveiled Thursday would target Russia with economic sanctions to further punish its government for invading Ukraine by banning public investment in the country. The bill would direct the State Board of Investment over the next few months to divest Minnesota state pensionRead More →
J he boss of savings and investment giant Legal & General wants the government to overhaul investment rules to make it easier for UK pension funds to back fast-growing tech companies. Nigel Wilson told Standard: “If we’re not careful, [investment] will just come from America, from the 401K people [theRead More →
LANSING, Mich. (FOX 2) – The Michigan Investment Board announced on Wednesday that it had unanimously approved moves to divest all state-owned assets in Russian and Belarusian businesses, following the invasion of Ukraine that sparked a wave of anger and condemnation towards President Vladimir Putin. According to the Treasury Department,Read More →
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The Caisse de depot et placement du Quebec and other pension fund managers have acknowledged or disclosed that they have invested around $100 million or more in Russia, mostly through publicly traded stocks.Christinne Muschi/Christinne Muschi/The Globe and The derussification of Canada’s largest public pension plans is nearly complete. The country’sRead More →
Just over 50% of UK pension funds hold some form of impact investing, a survey by Pensions for Purpose has found. The survey, sponsored by Big Society Capital, showed UK pension funds are increasingly considering impact investing, with 90% of respondents looking to make impact investments in the UK. SocialRead More →
UK pension schemes appear to be increasingly considering impact investing, particularly social infrastructure and affordable housing. According to a survey conducted by Pensions for Purpose and sponsored by Big Society Capital of UK pension funds with total assets under management of around £150 billion (€180 billion), more than 50% ofRead More →
THE TOP 10 LARGEST PENSIONS IN THE WORLD 10.PFZW MARKET: Netherlands TOTAL ASSETS: $306,893 (as of March 31, 2021) (Photo from Amsterdam: Yasonya/Shutterstock) 9. CENTRAL PROVIDENCE FUND MARKET: Singapore TOTAL ASSETS: $349,787 (Photo: Central Provident Fund Board via Wikipedia) 8. CANADIAN PENSION MARKET: Canada TOTAL ASSETS: $390,503 (as of MarchRead More →
Swiss pension funds are facing the prospect of selling undervalued Russian assets, which still make up only a small part of their portfolio allocations, and are experiencing market corrections following the war in Ukraine. The question of the sale of Russian shares has not yet arisen for Compenswiss, the publicRead More →
register here for The 74’s daily newsletter. Donate here to support The 74’s independent journalism. Less than two weeks into Russia’s war in Ukraine, the geopolitical ripples of the conflict are heading in unexpected directions. Some are even felt by active and retired teachers, via their pension funds. Many publicRead More →
The country united states of americaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, RepublicRead More →
Up to 850,000 families could miss a pension credit worth an average of £1,900 a year. A new report from the Department for Work and Pensions (DWP) has revealed that a total of £1.7billion in pension credit was unclaimed in the 2019/20 financial year. Here, which one? explains how theRead More →
Up to 850,000 families could miss a pension credit worth an average of £1,900 a year. A new report from the Department for Work and Pensions (DWP) has revealed that a total of £1.7billion in pension credit was unclaimed in the 2019/20 financial year. Here, which one? explains how theRead More →
The country united states of americaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, RepublicRead More →
Millions of people who receive state benefits including Universal Credit, Personal Independence Payments (PIPs) or Pension Credit are set to lose hundreds of pounds due to inflation. Campaigners warn that more than 24 million people will be affected and have urged the government to take action to prevent families fromRead More →
Understand the impact of the conflict in Ukraine from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict The Australian government has called on the country’s pension funds to review their investment portfolios and offload their holdings of Russian assets, Reuters reported. Russia’s ongoing invasion of Ukraine hasRead More →
Council pension funds are scrambling to divest millions of pounds of Russia-linked assets after its invasion of Ukraine, LGC research has found. Almost half of the 86 funds in the Local Government Pension Scheme in England and Wales have provided LGC with information on their response to the war, eitherRead More →
The Australian government said on Thursday it “strongly expects” the country’s pension funds to review their investment portfolios and take steps to divest themselves of any stake in Russian assets. Russia’s invasion of Ukraine led to severe Western sanctions and caused a number of companies to sever their ties withRead More →
Due to the increase in public debt held by Nigeria and other emerging economies, the IMF has warned that the sovereign debt crisis could spread to banks, pension funds, households and others. segments of the national economy. This was revealed by the International Monetary Fund in a report titled “SHININGRead More →
American pension funds want to do the right thing in light of Russian aggression and offload their investments there. But it’s not that easy, reports the Wall Street Journal. This is because stockbrokers avoid Russian stocks and bonds, making it difficult for investors to sell them. And the closing ofRead More →
The New Jersey state Senate is due to vote Thursday on a bill that would prevent New Jersey’s $98 billion pension fund, Trenton, from investing in a company ‘with an equity connection’ to Russia or Belarus or any government entity affiliated with these countries, depending on proposed legislation. The pensionRead More →
New data from Stand.earth shows more than $800 million of US pension funds have been invested in the Russian war chest Stand.earth research shows millions from California, Massachusetts, Washington, Alaska, New York and others have invested heavily in Russian oil and gas Traditional Lummi and Nooksack Lands and Unceded andRead More →
The banner read “so take a cold shower, turn off the gas taps”. Photo: DutchNews.nl Dutch pension funds have invested at least 2.5 billion euros in Russian companies and government bonds, the Nu.nl news site reported on Tuesday. The 10 largest funds have investments in companies such as Gazprom, LukoilRead More →
From Japan to the United States, sanctions threaten the assets of Russia’s main pension funds – Risk.net Drawer end navigation content Skip to main content Major global pension funds may dump Moscow-linked holdings in response to Ukraine invasion Norway’s announcement that it would divest its sovereign wealth fund’s Russian assetsRead More →
Investors with retirement savings in lifestyle funds that automatically transfer them into bonds have been warned to reconsider because faster-than-expected interest rate hikes will affect their value. The value of so-called lifestyle funds fell 13% in the two months to mid-February as persistently high inflation and rising interest rate expectationsRead More →
State Treasurer Scott Fitzpatrick wants Missouri to join other states that are dumping of Russian investments from pension funds. In a Tuesday press release, Fitzpatrick called for an emergency meeting of the board of directors of the Missouri State Employees Retirement System (MOSERS) to vote to block future purchases ofRead More →
Dutch pension funds have invested at least 2.5 billion euros in Russian companies and government bonds, reports NU.nl based on its own research. The ten largest pension funds in the Netherlands have a large portfolio of shares in Russian companies such as Gazprom, Lukoil and Rosneft, as well as inRead More →