editor, Author at Pension Policy International

15JunJune 15, 2023

Jamaica. Opposition concerned about pensions fraud probe launched at labour ministry

Opposition Spokesperson on Labour and Social Security, Dr Angela Brown Burke, has expressed deep concern over recent allegations regarding a pension fraud probe at the Ministry of Labour and Social Security in which hundreds of millions of taxpayers' money have gone missing. Reports are that internal audits at the ministry revealed that money paid out under the National Insurance Scheme (NIS) is more than twice the amount which should have been paid based on the pension order books issued by...

June 15, 2023

NewsFraud, Jamaica, savings

15JunJune 15, 2023

The taboo of aging, an obstacle to thriving businesses in Latin America

In Latin America, despite being the “fastest aging region in the world,” according to an IDB report, the needs of those who are part of the silver economy “are not being met” due to the taboo that aging represents for their societies, experts gathered in Bogota discussed Wednesday. “We have, as a society, to start matching who those real consumers are and who we think they are because that dichotomy makes it impossible for businesses to thrive,” lamented the founder...

June 15, 2023

NewsAging, Latin America

14JunJune 14, 2023

Colombia. Los fondos de pensiones de los trabajadores alcanzó un nuevo máximo histórico

La Asociación Colombiana de Administradoras de Fondos de Pensiones y de Cesantía (Asofondos) informó que en el más reciente balance muestra que los fondos de pensiones tuvieron un excelentes resultado en abril, cuando las ganancias sobre el ahorro total fueron de $ 5,8 billones, mientras que en lo corrido del año llegaron a $ 24 billones. “Ese solo mes no solo fue positivo, fue extraordinario, deja la vara muy alta, pero nuevamente nuestro mensaje es: en ahorros de largo plazo...

June 14, 2023

NoticiasAdministración de Pensiones, Colombia

14JunJune 14, 2023

Perú. AFP: más de 10.000 jubilados reciben menos de S/500

Más de 10.000 jubilados de las Administradoras de Fondo de Pensiones (AFP) reciben menos de S/500 por concepto de pensión. Incluso, dentro de este grupo, alrededor de 2.000 pensionistas obtienen menos de S/100, según datos de la Superintendencia de Banca, Seguros y AFP (SBS). Asimismo, unos 12.000 jubilados tienen una pensión de entre S/500 y S/600. Estos montos reducidos se deben al bajo número de aportes al Sistema Privado de Pensiones (SPP). El modelo de las AFP ¿Por qué algunos afiliados reciben...

June 14, 2023

NoticiasPerú, Reforma de Pensiones, Suficiencia

14JunJune 14, 2023

Panamá. Reactivación de la mesa de diálogo de la CSS, en ‘el limbo’

Después que el presidente de la República, Laurentino Cortizo, confesara que la reactivación de la mesa de diálogo de la Caja de Seguro Social (CSS) depende ahora de los trabajadores y empresarios, las opiniones no se han hecho esperar. Trabajadores, empresarios y economistas coinciden en que la delegación que hizo el mandatario es una forma de dilatar un debate que lleva en receso desde diciembre de 2021, luego que el Estado gestionara con la Organización Internacional del Trabajo (OIT) un...

June 14, 2023

NoticiasPanamá, Reforma de Pensiones

14JunJune 14, 2023

US. GOP bill aims to block ERISA plans from funding firms linked to U.S. adversaries

Rep. Jim Banks, R-Ind., introduced a bill to block ERISA-governed retirement plans from making new investments in companies controlled by or based in Iran, North Korea, Russia and China. "Several states, including my home state of Indiana, divested their pension funds from China, but federally regulated ERISA plans continue to fund firms that are building up the People's Liberation Army, stealing U.S. intellectual property and participating in the Uyghur genocide," said Mr. Banks, who serves on the Select Committee on...

June 14, 2023

NewsInvestment, Regulation, US

14JunJune 14, 2023

Ghana. NPRA to increase pension penetration by 25% amongst informal sector workers by 2026

Increased pension penetration among employees in the informal sector is the goal of the National Pensions Regulatory Authority (NPRA). This move, if finalized, will see penetration increase from 6 percent to 25 percent by 2026. The Authority explains that although a section of the informal sector holds misconceptions about pensions, it is committed to its sensitization drive to ensure that its targets are achieved. At a brief ceremony to highlight the end of the SECO project, Chief Executive Officer of the...

June 14, 2023

NewsCoverage, Ghana

14JunJune 14, 2023

UK. Govt extends National Insurance contribution deadline

The government has extended the deadline for paying voluntary National Insurance contributions by nearly two years, with taxpayers to be given until 5 April 2025 to boost their state pension entitlement. According to the government announcement, the extension aims to ensure that people have more time to properly consider whether paying voluntary contributions is right for them and ensure that no-one misses out on the possibility of boosting their state pension entitlements. The original deadline was extended to 31 July 2023...

June 14, 2023

NewsRegulation, State Pensions, UK

14JunJune 14, 2023

South Korea. Rapid population aging to accelerate income inequity

Income inequality in Korea is likely to accelerate due to a rapidly aging population, according to a report released by the Bank of Korea (BOK) on Wednesday. The report revealed that income inequality among households has worsened by 30 percent over the past 25 years, largely as a result of the aging population. "The aging population is expected to have a significant negative impact on the Korean economy, not only by lowering labor productivity and increasing the burden of care, but...

June 14, 2023

NewsAging, Income, South Korea

14JunJune 14, 2023

Akio Toyoda reelected Toyota chairman despite pension funds’ governance concerns

Toyota Motor weathered an unprecedented showdown with investors at its annual general meeting on Wednesday as shareholders approved former President Akio Toyoda's nomination to the board and rejected a proposal demanding better disclosure on climate lobbying activities. Proxy advisers, U.S. pension funds and European asset managers criticized the automaker's insufficient corporate governance and environmental efforts, heaping pressure on a fledgling management team already facing intensifying industry competition in electric vehicles. "The new management is able to get to a start thanks...

June 14, 2023

NewsCorporate Governance, Investment

June 2023