pensions News

UK’s Legal & General Partners with Amazon to Create Blockchain System for Pensions

British insurer Legal & General has teamed up with Amazon to establish what it said is the first blockchain system for corporate pension deals. The insurer said it would use a managed blockchain system launched by Amazon Web Services (AWS) …

China’s ‘Biggest Fiscal Risk Is Pension Risk’ from Aging Population

China’s pension shortfall is emerging as the next big challenge for policy makers as they intensify their years-long campaign to keep rising debt from derailing the economy. Aging in the world’s most populous country means pension contributions by workers no …

Declining Life Expectancy Shrinks Deficits of Corporate Pension Plans: Opinion

The Grim Reaper has some happy news, but if pension funds turn this into a party they’re dicing with death. Continuous Mortality Investigation Ltd., which produces longevity projections using data on lives that are insured or in pension plans, said …

EU Aims to Hike Old-Age Protection with Proposal for Pan-Europe Pension Product

The European Commission proposed on Thursday establishing a new pan-European pension product to increase private savings for old age and boost the growth of an EU industry currently worth some 700 billion euros ($800 billion). The measure is part of …

Actuaries Have Disappointing News for Americans Including Millennials

Death awaits all of us, but how patiently? To unlock the mystery of when we’re going to die, start with an actuary. Members of this 200-year-old profession who study risk and uncertainty pore over the data of death to estimate …

EU Needs Pan-European Pension Product to Cut Complexity, Costs: Regulator

The European Union needs a common pension product because existing long-term savings offerings are too complex and costly, the region’s industry regulator said. “There are too many products and people don’t really understand them,” Gabriel Bernardino, chairman of EIOPA, the …

Post-Brexit Market Rout Deepens UK Corporate Pension Deficits

Record low gilt yields following Britain’s vote to leave the European Union are deepening UK pension deficits, worsening a headache for domestic companies which may be called upon to help fill the gap. Several years of ultra-low British interest rates …

XL’s McGavick: Hedge Funds Grow in Sophistication in Insurance Arena

Investors such as hedge funds and pensions are becoming more sophisticated as they partner with insurers, XL Group Plc Chief Executive Officer Mike McGavick said. In the past, capital-markets partners would “pat you on the head and they’d say, ‘You …

FBI: 10 More Charged in N.Y. Long Island Rail Road Pensions Case

The FBI said it has arrested 10 more people as part of its months-long investigation into allegations that hundreds of Long Island Rail Road employees faked disabilities so they could enjoy more lucrative pensions. Six people were arrested Tuesday morning …

ACE Covers Trustee Liability for UK Low Cost Pension Scheme

The ACE European Group announced that it has been appointed with its partner OPDU (The Occupational Pensions Defence Union) to “provide and administer pension trustee liability cover to the NEST Corporation, the trustee body responsible for running the UK Government’s …