养老金融行业双周报：印第安纳州因ESG取消贝莱德合作资格

Investment Rating - The industry investment rating is "stronger than the market," indicating that the industry index is expected to outperform the market by more than 5% within the next six months [25]. Core Insights - The report highlights significant events in the global pension sector, including Spain's substantial pension benefit increase aimed at addressing economic inequality and inflation pressures, which will affect 9.3 million contributory pensioners with an average monthly increase of €40, and a notable 18.24% increase for non-contributory pensions [8][9]. - BlackRock was removed from its asset management role by the Indiana Public Retirement System (INPRS) due to its ESG investment policies, marking a significant political development against ESG initiatives in the U.S. [2][10]. - UK lawmakers criticized multinational companies for failing to adjust pension benefits in light of the cost-of-living crisis, highlighting the need for regulatory changes to protect pensioners [12][13]. Summary by Sections Overseas Pension Financial Policies and Investment Management Dynamics - Wyoming's House introduced an anti-ESG bill, limiting state fund investments to financial purposes only, which could reduce revenue for the Wyoming Retirement System by an estimated $193 million in 2026 [7][14]. - Illinois is proposing reforms to its Tier 2 pension system to ensure compliance with federal standards, which may incur significant fiscal costs [14][15]. - Australia's Future Fund is seeking to modify investment restrictions to better align with national priorities while maintaining a benchmark return above inflation [15][16]. Domestic Pension Financial Dynamics - The State Council proposed to increase basic pensions for retirees and urban residents, aiming to enhance income and reduce burdens on residents [18]. - Jiangsu Province issued a prepayment management method for elderly care institutions, effective January 15, 2025, to regulate service fees and ensure transparency [19]. - Guangzhou and Shanghai are implementing measures to promote innovation in the silver economy, with Guangzhou offering up to 100 million yuan in support for technology projects targeting elderly care [19][20]. Latest Developments in the Elderly Care Industry - Various companies are launching innovative products and services in the elderly care sector, including smart elderly care stores and health management platforms, reflecting a growing trend towards technology integration in elderly services [21][22].