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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...
...Calpers’ allocation for [public] equity will go to 37 per cent of the fund and fixed income will be reduced to 28 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...
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...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...
...At the time, this was greater than the official estimate of the entire private sector pension system’s asset base. It was greater even than the stock of outstanding public debt....
...The growing reliance on illiquid assets has also introduced new challenges in terms of cash flow for defined benefit style funds, such as Calstrs and others public retirement systems, which must pay regular...
...“Widespread defaults have not yet occurred,” said the $105bn Ohio Public Employees Retirement System in a board meeting agenda last month, “however, indications point towards trouble ahead”....
...Donald Mackenzie, one of CVC Capital Partners’ co-founders and most successful dealmakers, is stepping back from Europe’s largest buyout firm ahead of its long-awaited public listing....
...New York-based buyout group KKR says that billions of dollars in equity have been shared between more than 60,000 employees at its portfolio companies since 2011....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...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 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....
...PensionBee, a pension consolidator, was one of the few pension providers to express public support for a system shake-up....
...On the plus side for employees, each participant gets a personal account and can opt for a lump sum at retirement instead of a regular payment....
...Institutional investors that sided with the activist proposals include Norway’s sovereign wealth fund, the Canada Pension Plan Investment Board, California Public Employees’ Retirement System and the California...
...At the University of Mississippi, in nearby Oxford, Catarina Passidomo, a professor who studies food systems, says that the problems that give rise to food deserts run deep in the US....
...The 37 partners have agreed to accelerate their retirement as part of the latest overhaul. PwC’s staff were told of the cuts during a call on Wednesday morning....
...“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....
...The lower house of Chile’s Congress has provisionally approved a reform of its private pension system presented by leftist President Gabriel Boric, in a rare breakthrough for the country’s polarised politics...
...“The Department for Work and Pensions has a vast amount of work on its to-do list already,” said Tom McPhail, director of public affairs with the Lang Cat, a corporate consultancy....
...At only 3.4 per cent of salary, companies’ median contributions to the DC pensions of their employees, scarcely eclipse the legal minimum....
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
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