April 2023
28Apr

Perú. AFP: buscan que fondos no reclamados por herederos sean transferidos al Estado

El congresista Alejandro Soto Reyes, de la bancada Alianza para el Progreso, propone que los fondos administrados por las AFP que no han sido retirados por los herederos de los aportantes fallecidos sean transferidos al tesoro público, mediante la modificación del artículo 12 de la Constitución Política del Perú. Cabe precisar que en julio de 2022 se presentó un proyecto, de Acción Popular, con similar objetivo que hoy sigue en la Comisión de Economía. De esta manera, el PL 4800,...

April 28, 2023
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28Apr

Bank of England tells insurers to moderate their push into pensions

The Bank of England warned insurers on Thursday not over extend themselves in grabbing more business from pension schemes eager to offload risks. Charlotte Gerken, executive director for insurance supervision at the Bank, said that in the face of considerable temptation to capture business opportunities, insurers need to exercise caution. Bulk purchase annuities (BPA) are long-term policies from life insurers for company defined benefit, or final salary, pension schemes. Rising interest rates have improved funding levels of pension schemes, making them cheaper...

April 28, 2023
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28Apr

Pension funds need to consider beneficiaries’ sustainability preferences more – here’s why the IORP II consultation matters

The European Insurance and Occupational Pensions Authority (EIOPA) consultation on the review of the Institutions for Occupational Retirement Provision (IORP) II Directive closes next month, on the 25 May. What’s at stake here is significant – how to take account of preferences to invest sustainably, and how the law, and the overall policy landscape, can improve. EIOPA’s technical consultation features a dedicated sustainability chapter. It suggests that pension funds should integrate members’ and beneficiaries’ sustainability preferences into investment decision-making while complying...

April 28, 2023
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28Apr

US. Closing Pensions For Public Workers Has Proven A Mistake

A measure to close North Dakota's public pension plan is headed to Governor Doug Burgum's desk for signature. Before enacting the measure, the state’s chief executive would be wise to look at the experience of other states that have made such a drastic move. State leaders have learned the hard way that ending pension benefits comes with little to be gained and a big price to pay. More specifically, states that shifted new employees from defined benefit pensions to defined...

April 28, 2023
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28Apr

​Danish FSA develops national stress test for pension firms

The Danish Financial Supervisory Authority (FSA, Finanstilsynet) has developed its own stress test for pension providers, saying it takes certain national conditions into account – unlike the European Supervisory Authority for Insurance and Occupational Pension Schemes (EIOPA) version. The Copenhagen-based financial watchdog announced yesterday that the new stress tests to assess how insurance and pension companies would fare in a severe economic slump were part of its “strategy 2025” to ensure robustness. “EIOPA’s stress test ensures a high market coverage on...

April 28, 2023
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27Apr

México. Urgen nuevos esquemas de aportaciones para el retiro; jóvenes, los que menos ahorran

Las generaciones más jóvenes son las que menos destinan una parte de sus ingresos al ahorro para el retiro, por lo que se requieren nuevos esquemas de aportaciones voluntarias. De acuerdo con el reporte “Bienestar Financiero 2023” presentado este martes, los millennials y la generación Z son quienes menos ahorran para el fin de su vida laboral. Juan Hernández, director de América Latina en Vanguard, dijo que una manera de facilitar las aportaciones voluntarias es que las empresas inscriban a...

April 27, 2023
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27Apr

Chile. Todos los multifondos de AFP anotan resultados negativos durante abril

Abril no ha sido un buen mes para los multifondos de las AFP, ya que desde los más riesgosos (A y B), intermedios (C) y conservadores (D y E) anotan pérdidas. Según un informe de Ciedess, con el valor cuota al día 24, los fondos más riesgosos expuestos a renta variable internacional, A y B, registran pérdidas de 0,40% y 0,43% respectivamente. Por su lado, el fondo C, de riesgo moderado, presenta una caída de 0,83%. Finalmente, los más conservadores fueron...

April 27, 2023
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27Apr

Colombia. Fondos privados de pensiones cerraron marzo con ganancias

Al parecer, el momento difícil que atraviesan los mercados de inversiones en el mundo no logró pasarle factura a los fondos privados de pensiones, que durante el mes de marzo se sacudieron de la racha de malos resultados que traía desde hace un tiempo y lograron terminar este periodo con buenas noticias para sus afiliados, pese a las presiones que hay en este sector por culpa de la reforma pensional. Según la Organización Mundial de la Salud los entornos tienen...

April 27, 2023
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27Apr

US. Aging Population, Higher Life Expectancy Put Pressure on Global Pension Systems

Even though the COVID-19 pandemic caused millions of premature deaths and wiped out nearly a decade of life-expectancy gains, longevity is projected to return to its previous trend and rise to a global average of 77.3 years by 2050 from a global 73.4 years in 2023, data from the 2023 Allianz Pension Report shows. While the American pension system is rated among the best in the world by the Allianz Pension Index, it remains unclear if the U.S. public pension...

April 27, 2023
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27Apr

UK. New TPR guidance places Equality, Diversity and Inclusion at the forefront of the trustee agenda

On 28 March 2023, the Pensions Regulator (TPR) published two sets of equality, diversity and inclusion (EDI) guidance: one for governing bodies; and one for employers. In parallel, TPR has published an overview explaining what EDI is, why it is important, and the benefits of improving EDI across the pensions industry. TPR hopes the guidance, which was developed in conjunction with an industry-wide working group which I was pleased to be part of, can be used by pension scheme...

April 27, 2023
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