INCLUDING: GLOBAL - PF adding to rising food prices, UK - Pension fund expense rising, UK - Women lose pension, NEW ZEALAND - KiwiSaver embraced, US - TRS add more property
Pension fund investment has contributed to higher food prices, according to the CEO of the Biotechnology Industry Organisation (BIO). Jim Greenwood, CEO, BIO, said a weak US dollar was driving up demands for American grain production, which was exacerbated by 'unprecedented levels' of pension fund investment in soft commodities. Greenwood was defending the use of agricultural land for biofuel production.
UK - Pension fund expense rising
Nearly a third of UK companies reported the cost of managing their pension scheme had grown at a faster rate than any other business overhead, according to a Capita Hartshead survey. Professional fees, costs of compliance and changes in long term assumptions, such as mortality rates and investment growth were cited as major factors, although schemes admitted third party administration helped lower these charges.
UK - Women lose pension
HSBC has said confusion over eligibility meant almost 2 million women were losing out on potential pension income in the UK. However, figures showed the number of women not planning for retirement has almost halved since 2005, coming in at under 6 million (32% compared to 62% in 2005).
NEW ZEALAND - KiwiSaver embraced
Mercer Wealth Solutions has found despite fluctuating world markets, many New Zealanders have embraced the KiwiSaver scheme, with participation in workplace savings programmes increasing significantly since the introduction of the programme. The proportion of Kiwis who have joined KiwiSaver has grown since October 2007 - from 14% to 25%.
US - TRS add more property
Parkway Properties has confirmed that the Teacher Retirement System of Texas (TRS) has approved a US$262.5m equity commitment to Parkway Properties Office Fund II, LP. The announcement follows a recent disclosure to an independent party by TRS as required under Texas law.
Despite improvements in investment manager attitudes towards responsible investment, research reveals there is a way to go before the majority deliver meaningful action. Victoria Ticha explores why
The Co-operative Bank is set to continue de-risking pension schemes after it mitigated further losses by switching from the retail prices index (RPI) to the consumer prices index (CPI).
A model aimed at reducing climate change-related financial risk exposure from corporate credit assets has been launched by Insight Investment.
Universities Superannuation Scheme (USS) members should be responsible for most of the cost of increased contributions if the scheme's defined benefit (DB) section remains open to accrual, Pensions Buzz respondents say.