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...The union is one of the largest, representing around 185,000 employees in the tech, telecoms, banking and financial services industries, Some union member data was held within the targeted systems, they...
...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...
...But there are reasons to doubt it, from shifts in the balance of savings and investment to higher levels of government debt....
...Sogavare has touted the deal on the campaign trail as having “put Solomon Islands on the map”. He has also praised China’s system of government and questioned the merits of democratic values....
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...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...
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...The trustees in charge of Social Security, the government retirement programme, estimated last year that it would have to start cutting benefits in 2033, unless Congress raised the retirement age or levied...
...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...
...While the current government has run out of time for legislation, the next government must tackle this thorny issue....
...The BlackRock chief also warned that the rise of defined contribution pension plans had combined with the growing strain on the social security government retirement programme to leave the US particularly...
...The company had both “lost the trust of business” and that of its own employees, she added....
...Unless you have a yacht and a lot of time, or your own plane, the only way to the Cocos (Keeling) Islands is a twice-weekly Virgin flight out of Perth in Western Australia....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...The California Public Employees’ Retirement System has named a new chief investment officer to replace the former CIO, who in 2023 left the job after less than two years....
...Almost all other government employees don’t. As such, the Treasury’s largest cohort of creditors include nurses, teachers, civil servants and soldiers....
...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....
...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’...
...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...
...State Teachers Retirement System....
...The change is aimed at reducing the proliferation of pension pots in the system when workers change jobs but experts said the government appeared to be pulling back on the proposal....
...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”....
...Mick McAteer, a former board member of the Financial Conduct Authority, said if the government wants to meet dual goals of “pot for life” and improving retirement outcomes, the best model would have been...
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...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....
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