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...Thousands of members of the pension plan of collapsed retailer Debenhams are to have their retirement benefits restored under a groundbreaking deal for the UK’s nascent “superfund” market....
...posed by offshore arrangements to UK retirement savers....
...British retirement funds hold more than £1tn in assets on behalf of tens of millions of savers but they have come under fire from policymakers and City asset managers for allocating more cash to global equity...
...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...
...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 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...
...A proposal to increase the $483bn fund’s positions in assets such as private equity and private credit from 33 per cent of the plan to 40 per cent was approved on Monday . . ....
...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...
...Starting about 40 years ago, they essentially transferred responsibility for funding retirement from employers to employees....
...The Indonesia Investment Authority (INA) is in talks over potential investment in the electric vehicle ecosystem and geothermal energy, and is providing financing for early retirement of coal-fired power...
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...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 rise of defined contribution pension plans combined with the growing strain on the social security government retirement programme had left the US particularly unprepared for a huge increase in the retiree...
...Making flexible withdrawals from your pension pot — or drawdown — remains the most popular retirement income option, according to new data from the Financial Conduct Authority....
...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....
...But at that stage every pension plan was an island, with no interconnections and no obvious mechanism for enabling the pension to follow the member. Ten years on that has all changed....
...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...
...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...
...The clauses, which prevent employees joining or setting up a rival organisation when they leave a job, are prevalent in all sectors and in both high and low-wage jobs, the Competition and Markets Authority...
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...Evidence for this comes from the numerous failures of local authorities (usually because of borrowing to invest) which have no impact on members’ benefits, regardless of investment returns....
...“If everything is on time and on plan, then we’ll have a few extra spares around for a couple of months,” he said....
...Almost all other government employees don’t. As such, the Treasury’s largest cohort of creditors include nurses, teachers, civil servants and soldiers....
...Fundraising for private credit has become “less rushed” because of the “more challenging” market conditions, said a spokesperson for the $50bn Connecticut Retirement Plans and Trust Funds....
...Funds such as the Pension Protection Fund, the UK’s £32bn-in-assets retirement scheme lifeboat, and Border to Coast Pensions Partnership, a £60bn local authority pool, are among those looking for bargains...
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