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...But thousands of former Debenhams employees subsequently suffered cuts to their expected retirement benefits under the Pension Protection Fund’s reduced compensation terms....
...In another plan, ByteDance last month offered to purchase employees’ stock at about $171 each, or $145 based on the stockholder’s “employment or service relationship with the company”, according to a separate...
...public-sector pension funds....
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...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...
...Topping up a pension plan is also a tax efficient way to induce departures....
...Starting about 40 years ago, they essentially transferred responsibility for funding retirement from employers to employees....
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...This only leaves the issue of how to persuade the civil service and others to forego their current benefit structure to join the majority of private sector employees in defined contribution arrangements....
...Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets by more than $30bn and reduce its allocation to stock markets and bonds in an effort to improve returns....
...were put on some form of performance management plan or facing dismissal....
...She has argued that all companies should be required to enrol workers in a savings plan that will create a substantial pension pot, rather than leaving it up to individuals to opt in....
...Calpers From the Financial Times’ intrepid pensions guru, Josephine Cumbo, yesterday: Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets . . ....
...Almost 4mn people in the UK, or more than one in eight employees, work on some form of flexible contract that could be viewed as “precarious”, the think-tank noted....
...Private equity executives need to “share the wealth” they create with workers at the companies they buy, according to the investment head of Calstrs, the giant US pension fund that is one of the world’s...
...The move follows the departures of more than 20 of its employees to Corinthia. Barings also filed complaints against former employees Ian Fowler and Kelsey Tucker for leading the defections....
...Khosrowshahi has defended Uber’s buyback plans in a letter to FT. It is not alone in handing out big stock awards. These can be useful....
...There are no current proposals to shake up the rules so that workers get to choose their own workplace pension provider, as employees in Australia do....
...plans of public employees — has already scored wins this proxy season at two big Wall Street banks....
...Ailman’s departure means two of the biggest pension plans in the US are searching for new investment chiefs....
...But he conceded that China-based employees at ByteDance may have access to some US data from the app....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...Despite the concerns, some pension plans continue to bet heavily on private credit....
...“For these employers, the proposed changes may make little or no impact on the contributions paid to their employees’ pension pots, though they should still check that their pension design would continue...
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