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...The writedown is also more than double the cut taken in percentage terms on Thames Water in 2022 by the utility’s biggest investor, the Ontario Municipal Employees Retirement System, one of Canada’s biggest...
...Shortly after, some staff across the businesses stopped receiving wages, something the company initially blamed on a faulty payroll system....
Past performance does not guarantee . . .
...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....
...Some private equity managers have taken steps to ensure that employees at companies they own can share in the profits, if the firm performs well....
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...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”....
...If imperative, they should be addressed in the design of the tax system....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...It added that the transition board would help support affected employees and the local economy, and would be chaired by Welsh secretary David Davies....
...State Teachers Retirement System....
...The chancellor said he would modernise the rules by replacing the “non-dom” system, replacing the concept of domicile in tax with a residence-based system....
...“British workers deserve to get the most out of their pensions, so we will make it easier for employees to keep track of their hard-earned savings,” said a Treasury insider....
...Instead, the employer chooses a retirement plan on behalf of the workforce....
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...Despite the success of auto-enrolment of employees into retirement funds over the past decade, nearly a third of the UK workforce are not saving for a pension at all, and most people are not saving enough...
...Earlier this month, tens of thousands of employees at some of Britain’s biggest companies had their personal data compromised by a Russian-speaking criminal gang behind the MOVEit hack....
...On the February day I meet Palmer Luckey at Anduril’s sprawling campus in Costa Mesa, Orange County, there has been an escalation in the Middle East....
...The almost 50-person in-house investment management team at BAE Systems is set to join GSAM towards the end of this year to continue managing the two DB schemes, which promise to pay employees’ pensions...
...Big reforms to the UK pension system, expected to boost the retirement pots of young workers by tens of thousands of pounds, may not be implemented until 2025, warn experts....
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