Two of the UK’s largest pension schemes will vote against the renewal of top directors at BP Plc (BP.L) and Shell Plc (SHEL.L) at their annual meetings unless both companies strengthen commitments to tackling carbon emissions, the Financial Times reported on Sunday. The plan by Britain’s Universities Superannuation Scheme (USS) and Borders to Coast, which…
Tag: pension funds
VEA Vice Chair Quoted on Despicable DOL/EBSA Proposal Limiting Proxy Voting Financial Times
Trump administration targets ESG. (Yet) again. The US Department of Labor has taken another swipe at ESG investments by moving to make it more difficult for retirement plan fiduciaries to vote on shareholder proposals that are not explicitly linked to company performance. With the proposed rule released on Monday, the DoL (led by Eugene Scalia)…
Work and Pensions Committee to examine impact of pension freedoms and protecting pension savers – News from Parliament – UK Parliament
We have been skeptical and critical of the shift from defined benefit to defined contribution pension plans. The entire idea of pension plans was to protect the retirement income security of working people by having their savings managed by expert professionals subject to the highest requirements of diligence and loyalty. What has been characterized as…
Federal Workers Profit From Tobacco and Oil, Even If They Don’t Want To – The New York Times
When the Federal Thrift Savings Plan (a sort of 401(k) for federal employees) replaced the defined benefit plan, a big concern was the potential conflicts of federal workers making regulatory and enforcement decisions that might affect portfolio companies. And so the solution was an index fund, where they would own the market as a whole…
Pension and Investment News: Best and Worst Systems in the World – Bloomberg
The Netherlands and Denmark have the best pensions systems in the world, according to a global study that shines a light on how nations are preparing aging populations for retirement. The countries took the top two slots in the Melbourne Mercer Global Pensions Index published Monday, both earning an A grade for the level of…
Shareholder Rights Directive II fact sheet – GOV.UK
New guidelines for UK fund managers: Occupational pension schemes are required to document and disclose online their policy on engaging with investee companies, their investment strategy and their arrangements with asset managers. The Pensions Regulator will update their guidance with regards to engagement, investment strategy and asset manager arrangements. Trustees have an important role to…
How Pension Funds Can Survive Volatile Markets | Newsmax.com
Former CalPERS trustee Dana Hollinger, writing with Jackson Eisenpresser, tells pension fund managers to begin with making sure they have enough liquidity for their projected payouts, and then think about alpha. Private-market returns have never been more critical in meeting future liabilities. The yield must come from real assets, infrastructure, and private credit and extending…
US government pension fund urged to reverse China investment | Financial Times
Senior US senators are demanding that one of America’s biggest government pension funds reverse a decision that is set to channel billions of US dollars into funding Chinese companies that they say support Beijing’s military, espionage and domestic security efforts.The demand shows how the US-China rivalry, which has thus far focused mainly on trade war…
New Maryland Law Requires State Pension to Reveal All Fees | Chief Investment Officer
A new law passed by Maryland will force its state retirement system to reveal the true amount it pays outside managers in fees.The bill, which was passed unanimously by the state legislature and signed into law by Gov. Larry Hogan, requires the Maryland State Retirement and Pension System (SRPS) to begin reporting annually the amount…
Rescuing Retirement: A Bold New Proposal
VEA Vice Chair Nell Minow attended a meeting on Capital Hill to discuss a new proposal for a portable retirement account available to all workers. Some of the highlights: By 2050, if we make no changes, 1/3 of the elderly will be living in poverty. This is “an issue for everyone,” said Randi Weingarten, President…
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