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...One example is the $137bn New York State Teachers’ Retirement System, which sold 34 private equity holdings with $3.5bn in total commitments on the secondary market at the end of last year....
...One day after April Fools’, the $495bn California Public Employees’ Retirement System has announced that another sucker has decided to subject themselves to what might be the worst job in the entire global...
...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...
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...Fink’s letter raised issues more than it suggested concrete solutions, but he wrote that Japan had found ways to encourage people to stay in work longer and that Australia’s national retirement savings system...
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...The world faces a looming “retirement crisis” that requires a rethink of pensions and working patterns as medical breakthroughs boost longevity, BlackRock chief executive Larry Fink has warned in his annual...
...In its announcement of the change, Calpers said that Private equity will increase from a target of 13 per cent of the fund to 17 per cent while private debt will increase from 5 per cent to 8 per cent ....
...The portfolio shake-up, which was confirmed after a scheduled asset allocation review, will bring the California-based plan into line with other big retirement systems in the US, including Calstrs, which...
...The Texas Retirement System incorporated leverage within its individual asset allocations in 2019 to improve the “risk return profile” of the fund....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...But lawyers warn that much of the rest of the justice system is facing a crisis....
...Germany has written to dozens of countries including Gulf Arab states to plead for more air defence systems for Ukraine, saying Kyiv needed urgent help to protect its cities, troops and critical infrastructure...
...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 lifetime provider model as a solution to the build up of small pension pots in the system....
...And at retirement a single large pot will attract better annuity rates and access to a wider range of post-retirement options....
...systems....
...The ECB puts housing wealth at around 350 per cent of GDP. The present value of pension entitlements under current social insurance systems are in the same ballpark....
...Yet they all reflect profound long-run changes in the role and structure of the world’s financial system. In the immediate postwar period, the central task of this system was simple....
...Steven Meier, chief investment officer of the $264bn New York City Employees Retirement Systems, said his fund was expanding into private credit when “everyone else has pulled back”....
...You scrub graffiti off walls, fix appliances and chat with eccentric crewmates before returning home via an odd tube system that literally flushes you out....
...Now the BoE plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, as concerns mount about the risk posed by offshore arrangements to UK retirement savers...
...City of London cash into UK infrastructure....
...The advent of assisted-living accommodation for the generally better-off has changed the retirement prospects for many fortunate to be able to afford it....
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