Pensions & Investments' WorldPensionSummit recognized funds for excellence in retirement across three categories in its 2019 Innovation Awards.
Presented Thursday during the annual WorldPensionSummit conference in The Hague, Netherlands, the awards recognized innovation in communication; plan design and reform; and investment.
The winners are:
GuildSuper, based in Melbourne, Australia, for innovation in communication.
GuildSuper offers a system of cash-back rewards at retail stores, through which participants can build up their retirement savings even when not actively employed. The A$2 billion ($1.4 billion) GuildSuper's participants saved more than A$23,650 in additional contributions in the past 12 months; 60% of that came from grocery shopping alone.
Airbus SE, Munich, Germany, for innovation in plan design and reform.
Under a new defined contribution arrangement, the Airbus plan sets a target return to give participants a payout certainty. Participants receive 70% of the target return monthly into individual accounts, while any additional return is moved into a buffer fund. The buffer fund compensates for a shortfall in case of lower or negative returns. Airbus employees can also make additional voluntary contributions of up to €25,000 ($27,909) a year.
Caisse de prévoyance de l'État de Genève for innovation in investments.
In 2019, the 14 billion Swiss franc ($14 billion) Geneva-based CPEG introduced a carbon footprint into its asset/liability management study. The fund, which has a multidimensional approach to environmental, social and governance exclusions, sifts out companies not open to engagement on ESG issues or for value reasons. The fund is targeting improvement in its ESG reporting, and within its real estate holdings has worked with tenants to be more environment-friendly.
The judges also recognized runners-up in each category:
- Association of Pension Funds Chile, finalist in innovative communication.
- Caixabank Employees' Pension Scheme, Valencia, Spain, finalist in innovative plan design and reform.
- Amundi Pension Fund, Paris, finalist in innovative investing.
The awards were presented Thursday by Chris Battaglia, CEO of the WorldPensionSummit and vice president and group publisher of P&I; Don Ezra, P&I advisory board member and former co-chairman, global consulting, at Russell Investments; and Nikki Pirrello, associate group publisher at P&I.
GuildSuper was also recognized with an audience award by delegates, who attended the pre-summit event on Wednesday.
Award judges were members of the WorldPensionSummit advisory board.