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Related Special Reports
...of EnnisKnupp, a consultancy that works with pension plans....
...More than 10,000 members of the Debenhams pension plan were transferred to the UK’s pension protection scheme in 2019, following the collapse of the 240-year-old retail group....
...The $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...These have sharply reduced the estimated cost of providing future payments, leaving many plans with a surplus that can only be used for pension benefits, on pain of hefty penalties....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...Highlights Shohei Ohtani’s former interpreter was charged with bank fraud by the US Department of Justice, which accused him of wiring more than $16mn from the Los Angeles Dodgers baseball star’s bank account...
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...Our plan is that workplace pensions would be attached to a worker and go with them when they change job....
...The head of the UK’s National Infrastructure Commission has said he does not believe the government should tell pension schemes where to invest their members’ money....
...The appointment of Gilmore, who will manage more than 300 investment professionals, came after two of his predecessors at the pension plan, Nicole Musicco and Ben Meng, stepped down within two years of becoming...
...As part of the reforms, the government gave further details about its plan announced in November to create a public pension consolidator by 2026, which could help channel billions of pounds of pooled pension...
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Stephen Poloz, who led the Bank of Canada from 2013 to 2020, has been given the task of convincing Canada’s pension funds, which manage more than C$4tn (US$2.9tn), to allocate more capital at home....
...Canada’s federal government wants its largest pension funds to invest more in domestic companies, and is hiring the former governor of the central bank to entice them....
...The pension system, in which workers pay into individual accounts managed exclusively by private investment funds, forms the backbone of capital markets that have helped the country become one of Latin America...
...Analysis from The Pensions Regulator suggests that more than 3,750 of the UK’s defined benefit-style retirement plans have assets in excess of their liabilities or are in surplus. Read more here...
...Local government workers, MPs, and those working for the Bank of England see their monthly pension contributions invested in assets like equities, bonds and infrastructure....
...Bank of America cut the compensation of its top executive Brian Moyniahn by 3 per cent, or $1mn to $29mn in 2023, a year when the company’s bottom line shrunk and its stock lagged rivals....
...Poorly performing pension plans will be banned from taking on new business as part of a major shake-up of Britain’s £120bn workplace retirement market, under government plans unveiled ahead of next week’...
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...“We know that as we live for longer, we need to work for longer,” she said, adding, “we’ve got no plans to lower the state pension age.”...
...That the US pension system is a complicated failure (“Move to solve ‘Rubik’s Cube’ of US pensions”, Report, April 1) is beyond dispute....
...The sell-off only abated when the Bank of England intervened in the bond market....
...Employers are not obliged to pay into a pension plan chosen by their workers....
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