NYC pension examiner pleads guilty to stealing $624K from retirees
BROOKLYN, NY — A former New York City retirement system employee pleaded guilty on Wednesday to stealing more than $624,000 from two retirees over a nearly three-year span, using his position to…
South Korea to reactivate FX swap between pension fund, cenbank
By Yena Park and Jihoon Lee SEOUL (Reuters) -South Korea’s finance minister said on Thursday foreign exchange authorities were in talks to reactivate market stabilizing measures, including a foreign exchange swap programme…
‘Bring The Economy To Its Knees’: Protestors Blockade Western Nation’s Oil Refineries Over Pension Reform
‘Bring The Economy To Its Knees’: Protestors Blockade Western Nation’s Oil Refineries Over Pension Reform John Hugh DeMastri on March 7, 2023 Striking union workers blockaded all eight oil refineries in France,…
Exclusive-S.Korea pension fund ready to revive FX swap with cenbank
By Jihoon Lee and Yena Park SEOUL (Reuters) – South Korea’s National Pension Service (NPS), manager of the world’s third-largest public pension fund, will collaborate with foreign exchange authorities when needed to…
California pension fund asks to meet Norfolk Southern after Ohio derailment
By Isla Binnie and Simon Jessop NEW YORK (Reuters) – Major U.S. pension fund CalPERS is seeking a meeting with rail operator Norfolk Southern at which it plans to ask about the…
Pension schemes’ share of hedge fund investments hits lowest in 5 years – Goldman
By Nell Mackenzie LONDON (Reuters) – Investments by global pension schemes fell to the smallest proportion in five years of overall hedge fund assets at the end of last year, a Goldman…
Bucco: Murphy Passes the Buck on Public Employee Pension & Health Benefit Costs to Property Taxpayers
Sen. Anthony M. Bucco said Gov. Phil Murphy is passing the buck to property taxpayers after his mismanagement led to surging costs in public employee pensions and health benefits for local governments.…
Strikes against pension reforms to disrupt French rail and air traffic on Tuesday
PARIS (Reuters) – French train and air services are expected to be heavily disrupted on Tuesday by a nationwide strike against pension reforms, the national railway and civil aviation authorities said on…
UK passing $23 billion pension reform bill to workers, unions tell London court
LONDON (Reuters) – Two British trade unions challenging changes to public sector pensions told a London court on Tuesday that the government was unlawfully passing the 19-billion-pound ($23 billion) cost of discriminatory…
Factbox-Later retirement, income guarantees: What’s in France’s pension reform?
PARIS (Reuters) – President Emmanuel Macron’s plan to reform France’s costly pension system, including raising the retirement age, has infuriated trade unions who are calling for a second day of nationwide strikes…
South Korea pension fund will deplete faster than expected, report says
SEOUL (Reuters) – South Korea’s huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low economic growth,…
Trains, flights cancelled in France on Thursday in strike against pension reform
PARIS (Reuters) -Most trains will be cancelled in France on Thursday, with flights also affected and Paris’ subway heavily disrupted, as part of a nationwide strike against the government’s plan to make…
Ghana says debt exchange talks with local pension funds continuing
ACCRA (Reuters) – Ghana’s finance ministry on Wednesday said negotiations on the terms of a domestic debt exchange agreement with local pension funds were continuing and that they would be made public…
There’s A Massive Red Flag That Could Spell Disaster For Americans’ Pension Plans
There’s A Massive Red Flag That Could Spell Disaster For Americans’ Pension Plans Laurel Duggan on December 27, 2022 U.S. government pension funds currently have the lowest cash holdings since the 2008…
South Korea pension fund opens up FX hedging limit to maximum 10%
By Jihoon Lee SEOUL (Reuters) -South Korea’s mammoth state pension fund will hedge foreign exchange risks for up to 10% of its overseas investment compared with zero up to now, the welfare…
JPMorgan, UBS and others vie for bigger share of China’s pension market
By Selena Li and Jason Xue HONG KONG (Reuters) – Chinese ventures of foreign asset managers including JPMorgan, Warburg Pincus and UBS are gearing up to expand their retirement offerings, as the…
Rapidly ageing China rolls out private pension scheme in 36 cities
SHANGHAI (Reuters) -China launched its first private pension scheme in 36 cities on Friday as it grapples with a rapidly ageing population, allowing individuals to open retirement accounts at banks to buy…
Singapore’s gig workers to get work injury, pension coverage
By Chen Lin SINGAPORE (Reuters) – Singapore will extend work injury insurance and pension coverage to food delivery and ride-hailing workers under proposed legislative changes that it aims to implement as early…
China broadens private pension scheme with new participants, products
SHANGHAI (Reuters) -China broadened its private pension scheme on Friday, allowing qualified banks and wealth companies to start individual pension businesses, and published a list of mutual fund products eligible under a…
Vanguard launches Australian pension fund in bid for $2 trillion savings pool
SYDNEY (Reuters) – The world’s second-largest fund manager Vanguard launched a pension fund in Australia on Friday, the first new fund licence approved in six years as it bets a reputation for…
Canada’s No. 2 pension fund Caisse sees opportunities in battered bond market
By Divya Rajagopal TORONTO (Reuters) – Canada’s second largest pension fund Caisse de dépôt et placement du Québec sees opportunities in global fixed income assets after a recent sell-off, and expects global…
Senior KFC executives opt for retirement as interest rates hit pension payouts -WSJ
(Reuters) – Three senior KFC executives have notified the U.S. fried chicken chain’s parent company Yum Brands Inc that they will take early retirement as rising interest rates threaten to dent lump…
Texas Teachers’ Pension to cut China target allocation
(Reuters) – The $184 billion Texas Teachers’ pension fund is set to settle on a new emerging markets stock benchmark, a move that will cut its exposure to Chinese stocks by half.…
BoE’s repo facility to ease pension pain is no silver bullet, sources say
By Sinead Cruise and Tommy Wilkes LONDON (Reuters) – A Bank of England fix to ease pension schemes’ cash crunch by getting banks to assume the role of rescue lender is being…
U.S. pension rebalancing could boost bonds, international stocks, banks say
By David Randall NEW YORK (Reuters) – U.S. fixed income and international equities could benefit from quarter-end rebalancing as pension funds square their books after a brutal three months for most asset…
Explainer-Why are Britain’s pension schemes dumping gilts?
LONDON (Reuters) – A dramatic upswing in British government bond yields this week triggered calls for cash from defined benefit pension funds, forcing them to slash positions and prompt the Bank of…
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