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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....
...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...
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...
...Starting about 40 years ago, they essentially transferred responsibility for funding retirement from employers to employees....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...The trend is more pronounced for higher-income workers, while lower paid employees’ mobility patterns have barely altered....
...That fairy tale ending disappeared for many Americans in the 1980s, when most new employees started to be shunted into a new retirement option....
...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....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...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....
...But faced with the opposition Labour party’s consistent polling lead of about 20 points, the Tories are trying to broaden their appeal with tax cuts targeting middle-earning employees, as well as childcare...
...Aegon has previously calculated that the reforms would mean millions of employees across the UK would see an extra £499 put into their pension each year....
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...Almost all other government employees don’t. As such, the Treasury’s largest cohort of creditors include nurses, teachers, civil servants and soldiers....
...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”....
...arrangement called “transit financing”....
...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...
...The Living Wage Foundation, a charity, in March launched a new “living pension” standard to increase minimum employer contributions to 7 per cent from 3 per cent now, on top of the 5 per cent paid in by employees...
...Under the proposals, regulators will be given powers to stop poorly performing retirement funds from taking on new workplace pension business....
...Practising now as a careers and retirement counsellor, I often see this workplace clash between facts and emotions, and the bewilderment of managers dealing with it....
...Instead, the employer chooses a retirement plan on behalf of the workforce....
...“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....
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