April 2023

PensionBee. Annual Report and Financial Statements 2022

By PensionBee PensionBee is a leading online pension provider in the UK, with a mission to make pensions simple, so that everyone can look forward to a happy retirement. We are a direct-to-consumer financial technology company with approximately 183,000 Invested Customers and £3.0bn of Assets under Administration (‘AUA’) as at 31 December 2022 (2021: 117,000 Invested Customers and  £2.6bn of AUA). We deliver a leading customer proposition to pension holders in the UK defined contribution pensions market, catering for the mass...

El Consejo Constitucional de Francia valida la reforma de pensiones de Macron

El Consejo Constitucional validó este viernes los elementos principales de la reforma de pensiones de Emmanuel Macron, incluida su medida estrella de rebajar la edad legal de jubilación a los 64 años, al tiempo que rechazó algunas medidas del proyecto de Gobierno, como la creación de un «índice senior» . Los «sabios» han rechazado, al mismo tiempo, una solicitud de referéndum de iniciativa compartida (RIP) presentada por la izquierda francesa. Una segunda solicitud, presentada más tarde, debe ser objeto de...

Chile. Presidente de AFP Cuprum por pensiones: “El proyecto presentado por el gobierno no es una reforma al modelo actual, sino que pretende refundar el sistema”

En medio del debate por la reforma de pensiones que promueve el gobierno, en la carta a los accionistas en la memoria de 2022, el presidente de AFP Cuprum, Pedro Atria, lanzó duras críticas a la propuesta del Ejecutivo y señaló que tal como está el proyecto limita la libertad de elección, y que pretende refundar el sistema en su totalidad. “Como país, tenemos que generar las transformaciones necesarias para que los chilenos puedan acceder a mejores pensiones. Eso es...

Constitutional Council approves Macron’s controversial French pension reform

The Constitutional Court, the country’s highest authority on constitutional matters, on Friday handed down its ruling on whether the pension reform – which among other things raises the pension age from 62 to 64 – was constitutional. As there is no appeal against court decisions, a refusal would have been a crushing blow for Macron’s government – but the court announced on Friday evening that the major parts of the reform were approved. The court also rejected a request for a...

UK. TPR authorises first CDC pension scheme

The Pensions Regulator (TPR) has authorised the UK’s first collective defined contribution (CDC) pension scheme. CDC schemes provide an alternative to traditional defined benefit (DB) and defined contribution (DC) pension schemes and see member and employer contributions pooled in a collective fund from which an aspired to pension income for life is drawn. The pooling of longevity and investment risks makes CDC schemes more resilient to market shocks. Yesterday (April 13), the regulator published a list of authorised CDC schemes on its...

Why An Aging Population Might Not Doom The American Economy

The American economy is booming and robust. Just look at the chart below, which shows that the overall unemployment rate — the share of people within the labor force who are without work but are looking for it — is lower than it’s been in more than 50 years: But wait! Americans just don’t want to work like they used to. As you can see in the following chart, the labor force participation rate — the share of all Americans...

Dutch pension group warns proposal on derivatives could hurt pension funds’ returns

A Dutch pension federation, which represents pension funds with a combined a €1.4 trillion ($1.5 trillion) in assets warned that the latest European proposal on central clearing of derivatives could lead to lower investment returns. Under the latest proposal to amend the European Market Infrastructure Regulation, the European Commission wants market participants to have an active account with a central counterparty, or CCP, inside of the European Union and wants to define a minimum share of transactions that would have...

Swedish retirees demand fairer pensions for women

"Old ladies need more money!" a group of grey-haired women chants in front of Sweden's parliament, as their recurring protest against the country's pension system enters its 10th year. During the warmer months, members of the red-hatted "Tantpatrullen" (The Old Lady Patrol) gather every Thursday on the cobble streets of Stockholm's Old Town, right across from Sweden's parliament. They have just begun their 2023 protest season. In a country that prides itself on being a champion of feminism and gender equality,...

México. Reforma a las Afores debe ir de la mano del crecimiento del mercado de valores: Amafore

La reforma al sistema de pensiones necesita que el mercado de valores se desarrolle para beneficiar a los ahorradores mexicanos que tienen sus recursos depositados en las Administradoras de fondos para el retiro (Afores). Durante la próxima década, el monto de recursos que administran las Afores se duplicará gracias a que las aportaciones patronales irán en aumento año con año, de acuerdo con estimaciones de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). “El dinero va a crecer...

Colombia. “A nombre del cambio, pensiones precarias”: sindicatos rechazan reforma de Petro

Las organizaciones sindicales han sido catalogadas como aliadas del Gobierno Petro. No solo por la prioridad en lo social que desde campaña propuso el hoy Ejecutivo sino porque a la cabeza del Ministerio del Trabajo, está una profesora y líder sindical: Gloria Inés Ramírez. Pues bien, ese panorama parece nublarse porque, aunque los sindicatos apoyaron ampliamente la reforma laboral que radicó el Gobierno el pasado 16 de marzo, ahora critican la reforma pensional, sosteniendo que “a nombre del cambio, pensiones...