August 2022

Chile. Gobierno presentará detalles de Reforma de pensiones post plebiscito para buscar un clima favorable

Por Camila Arcos El Gobierno presentará los detalles de la reforma de pensiones después del plebiscito constitucional, buscando un clima más favorable para los acuerdos. En el oficialismo respaldaron la decisión y afirmaron que el proyecto está preparado para los dos escenarios que abre la votación, mientras que en la oposición esperan que la discusión se centre en lo técnico. Aunque el Gobierno dice que el proyecto ya estaría listo, en carpeta, con su contenido trabajado por los ministerios de Hacienda, Trabajo,...

China should encourage private pension accounts

By Jiang Xueqing China should encourage individuals to open personal accounts and choose investment vehicles under a private pension plan rolled out by the country, and the plan should be better connected with basic old-age insurance and occupational pensions to complement the current guaranteed retirement income system, industry experts said. The nation unveiled the framework of a private pension plan earlier this year amid increasing efforts to address the needs of its rapidly aging population. At the end of last year,...

Albania. Only wage increases through more productivity can save public pension system, Word Bank says

By Tirana Times The only way to guarantee that Albanians can rely on a public pension in the future is to increase wages through higher productivity, the World Bank says in a recent report. Albania is going through a major demographic transition with high rates of out-migration and the rapid aging of the population, which is making its social insurance system a huge burden on the economy as the contributor/beneficiary ratio continues to deteriorate. In Albania, expenditures in relation to GDP for...

UK. Andy Bell: Common sense failure risks good work on pension transfers

By  Andy Bell In December last year I wrote in Money Marketing that new regulations designed to protect savers from pension scams would only work properly if common sense was applied by schemes administering transfers. Sadly, in certain parts of the industry, it appears ‘common sense’ is an alien concept, and it looks increasingly likely the rules will need to be revisited to ensure legitimate transfers aren’t slowed to a crawl or blocked altogether. Pension transfer scams As a reminder, this saga started...

Should Pension Funds ‘Invest’ in Crypto?

By John Rekenthaler My headline poses what seems to be a rhetorical query. Should pension funds risk other people’s money by buying volatile, poorly regulated assets? Obviously not. We therefore know how this column will proceed. Having erected this straw man, the author will triumphantly torch it in a blaze of self-righteousness. Such was my initial plan, after reading about pension funds with cryptocurrency-related losses. Houston Firefighters Relief and Retirement Fund invested $25 million in Bitcoin and Ethereum. The State of...

Commentary: The U.S. and Mexico need a binational retirement policy

By Jacqueline L. Angel & Emma Aguila Population aging is complicating retirement planning for Americans, and specifically for immigrants. As a 2017 National Academy of Science study showed, Mexican immigrants who arrive at older ages often struggle to support themselves in the United States and often consider returning home. Yet we lack a binational retirement policy that addresses those concerns. We need bilateral agreements that enable Medicare coverage in Mexico, and a Social Security “totalization” agreement allowing Mexican workers in the...

Autoridad en Colombia abrirá espacio de conversación para aclarar inquietudes sobre pensiones

Por Alejandra Rico Muñoz Tras la elección del nuevo presidente quedaron abiertas muchas preguntas alrededor del futuro del sistema pensional en Colombia. Aunque en la agenda legislativa todos los ojos están puestos en la reforma tributaria, en el mediano plazo se proyectan otras reformas como la de la salud y pensiones, así como una reforma del contrato laboral y una reforma de la educación. Protección, a cargo de Juan David Correa, abrirá el próximo 10 de agosto de 5 a 7...

Colombia. Pensiones que superen $10 millones se gravarán como otro ingreso

Por Brayan Xavier Becerra Según las cuentas del Ministerio de Hacienda, el impuesto solo aplicaría para menos de 1% de los jubilados, que tienen estos montos Uno de los detalles a los que más se le ha puesto atención en la recién radicada Reforma Tributaria del presidente Gustavo Petro, son las modificaciones a los impuestos que deben pagar los que tengan pensiones superiores a los $10 millones. Según el articulado presentado por el Ministerio de Hacienda, quienes tengan ingresos por pensiones que...

México. Esos 96 mil pesos en su Afore

Por Jonathan Ruiz Torre Alcanza como para llenar el tanque del carro durante dos años, eso que cada mexicano tiene guardado en su cuenta de Afore ¿Y qué hacen con ese dinero quienes lo cuidan mientras ustedes se retiran? El saldo promedio de las cuentas de retiro es de 96 mil pesos. Revisen el suyo, para saber si están por debajo de esa cifra, o si gozan del privilegio de superar al resto. Ese dato viene de una cuenta muy simple: dividir...

June 2022

U.S. high yield takes a fall

By Larry Rothman With high inflation persisting, the Federal Reserve recently raised short-term interest rates by 75 basis points, the largest one-time increase since 1994. As the Fed continues hiking rates, this raises the risk that the central bank will go too far in combating inflation and tip the U.S. economy into a recession. As a result, high-yield spreads could widen further than they already have this year since cash flow would come under pressure, raising the risk of financial...