pension Archives - Page 12 of 16 - DR News

Undervalued Korean Stocks to Get $8.2 Billion Boost from National Pension Service

Seoul, South Korea – South Korea’s National Pension Service (NPS), known as the world’s third-largest pension fund, is gearing up to inject up to 11 trillion won ($8.2 billion) into undervalued Korean stocks. This move comes as part of a broader initiative by the government to elevate the country’s sluggish stock market. According to sources within the investment banking industry, discussions are underway between the Korea Exchange (KRX) and NPS to establish a new index …

Pension Increase: GB News Viewers Share Their El Dorado Comments

London, United Kingdom – Britons are expressing mixed feelings about the recent pension increase, with some viewing it as a much-needed boost while others remain skeptical about the long-term impact. On GB News, viewers are engaging in lively discussions about the topic, highlighting various perspectives on the matter. Some individuals on the show refer to the pension increase as if it were the mythical city of El Dorado, emphasizing its significance in securing financial stability …

Triple Lock State Pension Formula Under Scrutiny: Experts Call for Change to Ensure Sustainability

London, UK – The debate over the future of the state pension in the UK has sparked discussions regarding the triple lock formula. Some argue that changes are necessary due to the sustainability of the pension system, while others vow to retain the triple lock to support pensioners. Recent discussions have highlighted concerns over the financial implications of the state pension and the mechanism by which it is funded. Critics of the current system argue …

Pension Funds in Canada Falling Short on Climate Commitments, New Report Reveals

Montreal, Canada – A recent report by the advocacy group Shift Action for Pension Wealth and Planet Health has shed light on Canada’s largest pension funds’ slow progress in shifting away from fossil fuel investments. The report evaluated 11 of the country’s most significant pension managers against global greenhouse gas emission reduction targets and international best practices. While some improvement has been noted since the previous assessment, the overall pace of progress is deemed insufficient …

Pension Funds Make Progress in Fossil Fuel Exclusions, but Lag Behind U.S. and European Peers in Climate Change Action

Toronto, Canada – In a recent report, Canadian pension funds are increasingly implementing exclusions on oil and gas investments as part of their sustainable finance efforts. SHIFT Action for Pension Wealth and Planet Health (SHIFT) revealed that nearly half of the 11 Canadian pension funds reviewed included partial exclusions on fossil fuels in 2023. However, while there has been progress, the report indicates that Canadian pension managers still lag behind their U.S. and European counterparts …

Pension Crisis: Supreme Court Demands Equitable Solution for Retired District Judges

New Delhi, India – The Supreme Court in India has expressed concern over the pension amount received by retired district judges, prompting the Chief Justice of India DY Chandrachud to question how these individuals would survive on amounts as low as Rs 19,000-20,000 after years of service. The issue arose during a hearing of a petition from the All-India Judges Association, where it was highlighted that some High Court judges faced salary payment issues due …

Retirement Savings at Risk: Avoid this Common Pension Mistake in Divorce

Houston, TX – Divorce can often have far-reaching financial consequences, and a mistake in handling pensions during divorce proceedings could significantly impact an individual’s retirement savings. The mishandling of pension division can potentially lead to a much poorer retirement, leaving individuals without the necessary financial security in their later years. When couples divorce, assets such as pensions must be divided fairly and in accordance with the law. Failure to do so could result in one …

Pension Funds Underpaid by Jeannette City Reversed by Audit Findings and Fiscal Office Turnover

Jeannette, Pennsylvania – The city of Jeannette is facing a financial dilemma as it was revealed that its three pension funds were underpaid by $189,356 in 2021. According to the state auditor general’s office, turnover within the fiscal office in 2020 and 2021 played a role in this costly error. A recent compliance audit of Jeannette’s fire, police, and nonuniformed pension plans highlighted the need for the city to add the underpaid amount, along with …

Pension Fund Manager Preference and Asset Allocation: Key Decisions for NPS Subscribers

Mumbai, India – National Pension System (NPS) subscribers have the responsibility of choosing their Pension Fund Manager (PFM) and scheme preference upon registration with the Central Recordkeeping Agency (CRA) system under NPS. With various PFMs available within the NPS framework, subscribers have the option to choose between investment options, namely Auto or Active, and allocate their investments among four asset classes: Equity, Corporate Debt, Government Bonds, and Alternative Investment Funds. In the compulsory Tier-1 account, …

Illinois Governor Proposes $52.7 Billion Budget with Major Plans for Pension Overhaul and Migrant Crisis

SPRINGFIELD, Illinois – Gov. J.B. Pritzker revealed a $52.7 billion budget, outlining plans to reform the pension system, allocate funds for newly arriving migrants, and introduce a child tax credit. During a 52-minute joint State of the State and budget address before the Illinois General Assembly, Pritzker highlighted his administration’s focus on early education, social services, and healthcare. He defended the state’s response to the migrant crisis, while also criticizing former President Trump and the …