Our Scans · (FS.6.00) Retirement Planning · Weekly Summary

• [New] Unless permitting is stopped immediately, China will not be able to reduce coal-fired power capacity during the 15th five-year plan without subsequent cancellations of already permitted projects or massive early retirement of existing plants. CREA - Centre for Research on Energy and Clean Air
• Over a fifth of adults are borrowing more money to keep up with living costs, the proportion of pensioner households renting privately during retirement could increase 3-fold over the next 20 years and the UK has a projected £350 billion annual long-term savings gap. The Pensions Management Institute
• Most vulnerable to climate-related financial risk are long-term investments most often associated with institutions like pensions, retirement funds and endowments, bringing the crisis home to many-if not most-people in the United States. The Equation
• A change in pensions law could make up to £100bn available to UK companies to improve outcomes for DB members, close the generational gap in retirement savings or invest in the UK economy. Actuarial Post
• The recent revelation that the UK government plans to retire 30 military jets, a move purportedly to save £300 million for reinvestment in future defence tranches, has ignited a firestorm of debate regarding national security and fiscal responsibility. BNN
• The UK plans to retire 30 military jets to save funds, igniting debates on national security versus fiscal responsibility amidst Russian tensions. BNN
• The U.S. has retired 22.3 gigawatts of coal-fired generating capacity, but plant operators plan to retire only 5.2 gigawatts in 2024. Just The News
• Due to the increase in fleets and the number of planned retirements, Commercial and business aviation will require more than 1,000,000 new pilots in the next 10 years. Euro ES Euro
• NASA plans to retire the International Space Station in the 2030s and hopes commercial companies will fill the gap for a new platform for orbital research. WMFE
• The Air Force is leaning into its plan to train new mobility pilots using simulators instead of the T-1 Jayhawk jet, which will gradually retire through fiscal 2026. Defense News
• The Social Security Old-Age and Survivors Insurance (OASI) trust fund will be insolvent by 2033, when today's 58-year-olds reach the full retirement age and today's youngest retirees turn 71. Committee for a Responsible Federal Budget
• FDATA America member companies today empower consumers to grow their retirement savings, easily and affordably manage their investments, pay their debts, track and plan their saving, file their taxes, access affordable credit, and more efficiently manage their public benefits. Forbes
• The maximum Social Security benefit for a worker retiring at full retirement age will rise to $3,822 in 2024 from $3,627 in 2023. GOBankingRates
• New research from mutual, Royal London, carried out with 4,000 adults in the UK, shows two-fifths of younger adults plan to retire by age 60. Actuarial Post
• The global population of over 60 years old will double to 2.1 billion people by 2050, from one billion in 2020, and many could risk outliving their retirement savings by between eight and almost 20 years. Mint
• As concern grows over the climate effects of burning fossil fuels, Xcel plans to retire the coal plant over the next seven years. MPR News
• Americans are increasingly worried that taxes on retirement income from 401 (k) plans and IRAs will increase. Insurance News | InsuranceNewsNet
• Unless permitting is stopped immediately, China will not be able to reduce coal-fired power capacity during the 15th five-year plan (2026-30) without subsequent cancellations of already permitted projects or massive early retirement of existing plants. The Guardian
• Investments in climate solutions will create wealth for retirement savers and have the added benefit of creating jobs in the U.S. and strengthening American competitiveness. Ceres
• Today's rule by the Securities and Exchange Commission to disincentivize share repurchases will hurt the retirement savings of millions of Americans and result in slower economic growth - hurting the wages of working Americans. U.S. Chamber of Commerce
• TVA plans to retire the first of two coal burning units at the Cumberland plant by the end of 2026 and expects to have the 1,450-megawatt gas plant up and running before then. thestar.com
• Coal plants that plan to retire by 2035 and run at no more than a 20% capacity factor and units that will be shuttered before 2032 do not face GHG emissions limits. Utility Dive

Last updated: 23 April 2024