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A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement.
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families". In fiscal year 2020–21, CalPERS paid over $27.4 billion in retirement benefits, and over $9.74 billion in health benefits.
PIMCO is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. PIMCO’s headquarters are in Newport Beach, California; the firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia.
The Universities Superannuation Scheme is a pension scheme in the United Kingdom with £89.6 billion under management as of August 2021. It has over 400,000 members, made up of active and retired academic and academic-related staff mostly from those universities established prior to 1992. In 2006, it was the second largest private pension scheme in the UK by fund size. The headquarters of Universities Superannuation Scheme Limited (USS) are in Liverpool.
In Australia, superannuation, or just super, is the term for retirement pension benefit funds. Employers make compulsory contributions into these funds on behalf of their employees.
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Virgin Superannuation is a superannuation, or pension fund, offered by Virgin subsidiary Virgin Money.
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An industry superannuation fund is an Australian superannuation fund originally established to provide for the retirement of workers from a specific industry. While industry funds are no longer tied to specific industries, they remain not-for-profit, mutual funds which are membership-based and do not have shareholders. Industry super funds can be contrasted with retail super funds, which are public offer funds managed by financial institutions. Profits from retail funds are distributed to shareholders or investors, whereas industry funds return profits directly to members.
Socially responsible investing (SRI), social investment, sustainable socially conscious, "green" or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about social change regarded as positive by proponents. Socially responsible investments often constitute a small percentage of total funds invested by corporations and are riddled with obstacles.
Sunsuper Superannuation Fund (Sunsuper) was an Australian public offer industry superannuation fund based in Brisbane, Queensland, Australia. It was established in 1987 as a multi-industry superannuation fund open to all workers and is profit-for-members. Sunsuper was the largest superannuation fund by membership in Queensland, with 1.3 million members and over 100,000 default employers. As at December 2020, it had more than A$79 billion in funds under management.
A Personal Retirement Savings Account (PRSA) is a type of savings account introduced to the Irish market in 2003. In an attempt to increase pension coverage, the Pensions Board introduced a retirement savings account, that would entice the lower paid and self-employed to start making some pension provision. The intention was for PRSAs to supplement any State Retirement Benefits that would be payable in years to come.
The New Zealand Superannuation Fund is a sovereign wealth fund in New Zealand. New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ageing population. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds.
ESG is a framework designed to be embedded into an organization’s strategy that considers the needs and ways in which to generate value for all of organizational stakeholders.
James (Jim) Christensen is an economist & investor who is known for his tenure at some of Australia's most prominent investment firms. He has notably served as the Chief Investment Officer of Australia's largest corporate superannuation fund, Telstra Super and later the countries' largest state fund Queensland Investment Corporation before announcing his retirement in September 2021.
Iress is a technology company providing software to the financial services industry in Asia-Pacific, North America, Africa and UK & Europe. Iress software has more than 200 integrations and 300 data feeds, and is used by more than 500,000 users globally.
Aware Super is an Australian superannuation fund headquartered in Sydney, New South Wales. With $150bn under management and over 1 million members, it is Australia's third-largest superannuation fund.
State Super, is one of the oldest superannuation funds in Australia beginning in New South Wales in 1919 with the creation of the State Superannuation Scheme for salaried public servants. It is in the Australian Prudential Regulation Authority (APRA) Top 15 super funds in Australia with close to $42 billion AUD in assets as at 30 June 2020 and 96,180 members. State Super members are current and previous NSW government employees and public sector workers such as police, teachers, nurses and more.
QSuper was an Australian superannuation fund based in Brisbane, Queensland. The fund was established in 1912 through an Act of Parliament. The State Public Sector Superannuation Scheme was also known as the QSuper Fund. The board of trustees of the State Public Sector Superannuation Scheme was responsible for the management of the QSuper Fund. On 26 Oct 2015 Michael Pennisi, the chief strategy officer replaced Rosemary Vilgan as CEO, who had served in that position for 18 years.
References
- ↑ "About us". www.telstrasuper.com.au. Retrieved 2017-06-29.
- ↑ "Telstra Super - About Us". Telstra Super. Retrieved 2013-01-22.
- ↑ "Our history". Telstra Super. Retrieved 2013-01-22.
- ↑ "Investment Performance Graph". Telstra Super. Retrieved 2013-01-22.