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...The £342bn Local Government Pension Scheme (LGPS) — which serves around 6mn council workers in England and Wales — invests in a wide range of assets, including in the UK and globally....
...Just $830mn of domestic institutional and banking capital in Africa is invested in climate solutions and clean energy, a fraction of the $1.4tn assets managed by local institutions including pension funds...
...The plan by the UK universities’ pension scheme and Border to Coast, which invests the retirement pot of 1mn local authority workers, was part of efforts to push oil companies and banks to make faster progress...
...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....
...For personal retirement savers, the chancellor also confirmed plans to consult on sweeping changes to the pension market, to give workers the right to choose their own workplace pension fund....
...and Keva, the Finnish local government pensions institution....
...This would range from private sector defined contribution (DC) and defined benefit schemes to local authority pensions....
...Pensions Hunt unveiled a shake-up of the pensions system aimed at giving workers greater control over where they build their retirement funds....
...Such funds should not be forced to invest in the UK. But they should be able to see — and seize — local opportunities far better than outsiders....
...The decision of SoftBank to favour New York with the initial public offering of subsidiary Arm, a UK-based chip designer, also hurt local pride....
...Related: Bond fund giant Pimco told the FT it was holding a smaller than usual position in US Treasuries and preferred the bonds of countries such as the UK and Canada. 2....
...In 2023, some 292,000 people arrived in the EU irregularly, without permission to enter or stay — the highest figure since 2016, according to the UN International Organization for Migration....
...Local government pension schemes are funded through contributions from local authority workers and employers, with pension savers and taxpayers sharing the risk if investment returns are not as expected....
...There is talk of consolidation of local authority pension plans, too, but this plan is also not very radical....
...Fiscal policy: Is the state pension really ‘a Ponzi scheme’? Labour markets: UK wages: which sectors are driving up pay?...
...She hopes the money she earns will be enough to fund their education and give them a chance of one day becoming engineers or doctors....
...The government is to lower the discount rate used to value the cost of pensions for more than 5mn public sector workers in “unfunded” retirement schemes....
...“The union pays everything, 130 per cent of wages to cover pensions. Nobody should lose a cent because of the strike. We have funds to last years.”...
...The administration intends to fund extra spending with increased revenue collection....
...By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over £30 billion and by 2040 all local government pension funds will be invested in pools of £200 billion or...
...In the UK, the closest equivalents to Canada’s public pension plans are the Local Government Pension Schemes....
...The UK is only 10 years into the auto-enrolment of most workers into pension savings. The idea that there is an overnight-success version of Australia’s model is for the kookaburras....
...Travelling with Kennedy are Thomas DiNapoli, comptroller of the State of New York who has committed $56mn of public pension funds to investments in Northern Ireland since the 1998 Good Friday Agreement....
...A deal between the philanthropic community, the state of Michigan and businesses led to a 2013 debt restructuring plan that gave the city a holiday from paying certain pensions....
...While all workers will benefit from the 2p cut to national insurance contributions, many will be poorer overall because of the continued freezing of the personal tax thresholds....
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