October 2024

Vote to continue strike exposes Boeing workers’ anger over lost pensions

Boeing froze its traditional pension plan as part of concessions that union members narrowly voted to make a decade ago in exchange for keeping production of the company’s airline planes in the Seattle area The walkout has stopped production of the company’s 737, 767 and 777 jetliners, cutting off a key source of cash that Boeing receives when it delivers new planes Since going on strike last month, Boeing factory workers have repeated one theme from their picket lines:...

Kenya. Workers in informal sector to receive regulated wages, pension in new govt plan

The government has announced that workers in the informal sector will soon begin saving for their retirement and receive medical coverage through an expanded social protection programme. Speaking on Thursday during the launch of a social protection project funded by China in Nairobi, Labour and Social Protection Cabinet Secretary Alfred Mutua said the new plan, which is set for immediate implementation, is expected to benefit Kenya's 16 million informal-sector workers. This will be done by introducing regulated minimum wages and mandating...

Is the US headed for a retirement crisis?

Is the United States speeding towards a retirement crisis or not? Well, Wayne Park, CEO of John Hancock Retirement, won't go that far, but definitely believes the “check engine light is on.” Park’s concern is based on the firm’s recently released financial resiliency and longevity report which showed half the respondents feeling like they're falling behind in retirement saving, while another 40 percent said their financial situation was fair or poor. Meanwhile, the survey said the average respondent thinks they're going to be working...

México. Advierten fraudes en retiros de Afores

A partir de anuncios en redes sociales, falsos gestores han logrado un negocio rentable a costa del ahorro para el retiro de los trabajadores, al realizar un fraude en el trámite de retiro de dinero por desempleo de las Afore a cambio de una comisión de 30% de la operación. Si bien esa disposición es un derecho de los trabajadores para enfrentar la situación adversa de quedarse sin ingreso, además de tratarse de un proceso totalmente gratuito y que el...

Argentina. El gobierno de Javier Milei intimará a 10.000 empleados públicos para que inicien el trámite de jubilación

El Gobierno sigue adelante con su plan de motosierra y recortes en el Estado. Ahora intimará al personal del sector público nacional, que reúnan las condiciones, para que inicie los trámites administrativos necesarios para jubilarse. La medida se concretó en la Resolución 3/2024 publicada este miércoles en el Boletín Oficial. El Ministerio de Desregulación y Transformación del Estado a cargo de Federico Sturzenegger será el encargado del proceso en cada organismo de la Administración Nacional.Según indica la norma, el objetivo es “asegurar la...

US. NYC comptroller proposes stopping pensions’ private market investments in fossil fuels

New York City Comptroller Brad Lander put forth a proposal that would stop the city’s three pension funds from future private equity and infrastructure portfolio investments in midstream and downstream fossil fuel infrastructure like pipelines and liquefied natural gas terminals, Lander announced in a blog on Tuesday. The prohibition would apply to New York City’s Employees’ Retirement System, Teachers’ Retirement System and Board of Education Retirement System should their pension boards approve the decision. The move would expand on the...

Pensionbee’s strategic US expansion backed by £20m funding as fintech eyes global pension market

Pensionbee, the online retirement savings provider, reported positive adjusted earnings in the last quarter and raised £20m for its US expansion. The London-based fintech firm saw a revenue increase in the third quarter, jumping to £9m from £6m the previous year. The company anticipates breaking even on an adjusted EBITDA basis by 2024. For the third quarter, it recorded its second consecutive quarter of positive adjusted EBITDA at £1m, as reported by City AM The firm also reported £5.5bn in assets under...

Australian super funds face significant stability risks, says IMF

The International Monetary Fund has raised concerns about liquidity risks within Australia’s superannuation system due to a growing share of illiquid investments, such as private equity and credit. In its latest Global Financial Stability Report, the IMF warned that Australian super funds, which are increasingly allocating over 20 per cent of their assets to illiquid investments, face significant stability risks. “Australian superannuation funds are required to allow clients to switch between different investment options generally within three business days, even though...

What a Rapidly Aging World Population Means for Your Long-Term Portfolio

Global demographics are undergoing a profound transformation. As life expectancies grow and birth rates decline in many parts of the world, the proportion of the elderly population is increasing at an unprecedented rate. The World Health Organization (WHO) forecasts that by 2030, 1 in 6 people in the world will be aged 60 years or over. In 2030, the share of the global population aged 60 years and over will have increased from 1 billion in 2020 to 1.4 billion...

México. Diputados avalan reformas a pensiones para personas adultas mayores y con discapacidad

Con 483 votos a favor, el Pleno de la Cámara de Diputados aprobó reformas a la Constitución que plantean la entrega de una pensión contributiva a personas adultas mayores y personas con discapacidad menores de 65 años. El dictamen que modifica los artículos 4° y 27° de la Constitución Política, reduce de 68 a 65 años la edad de los adultos mayores para recibir una pensión por parte del Estado. De igual manea, procura la rehabilitación de personas con discapacidad menores de 18 años. Garantiza la entrega de un jornal seguro, justo y permanente...