SOUTH KOREA - The National Pension Service (NPS) has confirmed it is to invest almost US$22bn over the next ten years as it seeks to buy into energy and mineral resources.
It is understood that the NPS has entered into contracts with three of Korea's state-run energy and mineral developers to provide the necessary funds to invest in natural resource opportunities.
The NPS is interested in proven sources which will deliver stable and reliable returns rather than high-risk exploration of new fields.
Kim Ho-shick, president of the NPS, said to reporters in Seoul: "In the past the pension fund usually only invested in stocks and bonds, but this is not enough to generate the level of profits needed."
The Korean economy has one of the world's most advanced electronics industries, with companies such as Samsung and LG reliant on nickel and other minerals to manufacture hi-tech devices.
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.
Supermarket giant Asda's plans to reform its pensions have been decried as "unfair, unreasonable and unnecessary" as the workers' union began talks with the employer.
The Pensions Administration Standards Association (PASA) has launched a checklist to help trustees with the rectification process for guaranteed minimum pensions (GMP).