By Apolinari Tairo Tanzania’s pension funds are targeting agro-industries to raise the annual production of sugar. The government has directed social security providers with a strong capital base to invest in the sugar industry to plug a shortage in the country. Meeting in Arusha last week, pension funds managers resolved […]
Pension
Illinois teachers’ pension fund eyes 14.5 percent payment hike for state
Illinois’ biggest public worker pension fund said on Friday its board gave initial approval to a state contribution of $4.56 billion in fiscal 2018, a 14.5 percent increase over the current fiscal year. Teachers’ Retirement System (TRS) said the higher payment would still fall $2.31 billion below what the state […]
Kazakhstan to hire managers for part of $20 bln pension fund
Kazakhstan’s central bank plans to start hiring foreign asset managers next year to run the foreign-currency denominated part of the Central Asian nation’s $20 billion pension fund, a bank official said on Friday. Nurzhan Tursunkhanov, head of the pension asset management division at the central bank, said that about 21 […]
Labour unions give govt 21-day ultimatum over second-tier pension funds
Isaac Addo CHARLES ANDOH Twelve labour unions have given the government a 21-day ultimatum to pay their second-tier pension funds into their custodian account lodged with the Bank of Ghana (BoG). They have, therefore, threatened to embark on a nationwide strike, if the government fails to accede to their demands […]
Ambode promises review of retired Perm Secs pension
Lagos State Governor, Akinwunmi Ambode on Wednesday said his administration would initiate a process of an upward review of pension of retired Permanent Secretaries in the State, just as he expressed the readiness of the State Government to commence massive training of civil servants starting from 2017. Governor Ambode, who […]
S.Korea’s $476 bln pension fund eyes infrastructure, medical sectors
By Cynthia Kim and Joyce Lee South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, sees infrastructure and the medical industry as good prospects for returns in a low interest rate environment, its chief investment officer said. The NPS, with 540.7 trillion won ($476.27 billion) in assets as […]
PFAs stake N3.99trn in Fed Govt securities
Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have invested N3.99 trillion out of the N5.90 trillion pension assets in Federal Government securities as at August 2016, Inspen can report. The National Pension Commission (PenCom) said this in the summary of pension fund […]
TUC endorses use of mobile phone for pension transactions
Bobboi Kaigama, TUC President Mr Bobboi Bala-Kaigama, the President of Trade Union Congress (TUC), says the union has endorsed the use of mobile telephone for pension transactions. Bala-Kaigama disclosed this on Friday in Abuja in an interview with the News Agency of Nigeria (NAN). He said that the union endorsed […]
‘Nigeria’s GDP main contributors still outside CPS’
Akande Leave a comment and share Chuks Udo Okonta The move by the National Pension Commission (PenCom) to launch micro pension scheme would help move bulk of the nation’s Gross Domestic Product (GDP) contributors into the Contributory Pension Scheme (CPS), Inspen can report. According to the Executive Director, Business Development […]
Canadian pension fund buys into TVS Logistics
TVS Logistics Services has reached an agreement with CDPQ, a North American pension fund manager, whereby the investor will buy out two existing PE investors — Goldman Sachs and KKR — for nearly $155 million, or Rs 1,000 crore, for a minority stake. Goldman invested nearly Rs 125 crore in […]
