October 2024
29Oct

China. Beijing unveils policies for strengthening financial services

China's capital city Beijing has announced a series of policy initiatives for five key financial areas: tech finance, green finance, inclusive finance, pension finance, and digital finance. These initiatives aim to bolster the capital's new quality productive forces and foster high-quality development in each sector. The guidelines for advancing inclusive finance in Beijing encourage banks to increase lending to small and micro enterprises, focusing on first-time loans, renewals, credit loans, and long-term financing options. The document also promotes developing insurance...

October 29, 2024
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29Oct

Malta. Government to enroll its workers in pension schemes, match contributions

The government is to launch a voluntary occupational pensions scheme and will match contributions made by public sector workers, Finance Minister Clyde Caruana announced in his budget speech on Monday. The initiative aims to expand pension savings options for employees by encouraging both public and private sector workers to participate. "While employers will not be obliged to contribute, they must offer their employees the opportunity to join such a plan.  It is up to the employee to decline this option," the...

October 29, 2024
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29Oct

Aging demographics push South Korea’s insurance market to $191 billion

As South Korea's population ages rapidly, the demand for health and retirement-focused insurance products is forecasted to drive steady growth in the nation’s insurance market. According to a recent GlobalData report, South Korea's insurance sector is expected to expand from KRW 218.3 trillion (US$167.1 billion) in 2025 to KRW 249.7 trillion (US$191.2 billion) by 2029, reflecting a compound annual growth rate (CAGR) of 3.4%. “The South Korean insurance industry contracted by 7.5% in 2023 due to slower economic growth, which impacted...

October 29, 2024
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28Oct

La Consar detecta esquema de fraude en retiros por desempleo

La Comisión Nacional del Sistema de Ahorro para el Retiro identificó un fraude en el que trabajadores solicitaban retiros por desempleo con un salario más alto del que realmente percibían, con la ayuda de asesores previsionales de las Afores. Es por ello que, en colaboración con el IMSS, ha comenzado a revisar los salarios declarados para evitar la manipulación de montos que afecten el sistema de retiro. Lo anterior sobra importancia porque desde el mes de julio, los retiros por desempleo...

October 28, 2024
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28Oct

Elecciones en Uruguay: en dos plebiscitos rechazaron eliminar las jubilaciones privadas y autorizar los allanamientos nocturnos

La iniciativa constitucional que promovían el sindicalismo para reformar la seguridad social, con una papeleta blanca de letras negras, finalmente no triunfó y recibió el 40,6% de los apoyos, según las primeras proyecciones de Equipos. En tanto, el plebiscito de los allanamientos nocturnos, promovido por la coalición de gobierno, tampoco superó el 50% más uno de los votos (alcanzó el 39,9%) en las elecciones nacionales de este domingo, por lo que no habrá modificaciones en la ley actual. La reforma proponía tres pilares....

October 28, 2024
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28Oct

Afores acumulan plusvalías, septiembre cierra con 6 mil 786 billones

Durante el mes de septiembre, las Administradoras de Fondos para el Retiro (Afores) registraron plusvalías por 173 mil 503 millones de pesos, por lo que durante cinco meses consecutivos presentan ganancias en sus cuentas. En este mes, y en agosto, han logrado sus mejores resultados. La ganancia de septiembre del año en curso representa una reducción de 25 por ciento respecto al mes inmediato anterior, agosto del 2024, cuando las administradoras registraron plusvalías por 231 mil 285 millones de pesos. De tal manera que en...

October 28, 2024
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28Oct

República Dominicana. El gobierno contempla utilizar fondos de pensiones para financiar proyectos en el sector energético

El ministro de Energía y Minas revelo este domingo que parte de los fondos de pensiones ahorrados por la clase trabajadora podrían ser utilizados para financiar proyecto en el sector eléctrico. Joel Santos Echavarría destacó que con una agresiva ofensiva auspiciada por el presidente Luis Abinader el sector eléctrico nacional se encamina a consolidarse en todos los aspectos. Destacó que en estos 4 años del segundo gobierno de Luis Abinader son demasiado claves para la economía dominicana y la generación la...

October 28, 2024
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28Oct

At the heart of the Boeing strike, an emotional fight over a lost pension plan

At a rally here this month, machinists union vice president Gary Allen addressed a hall full of striking Boeing workers. “When I'm out on the picket line, I ask everybody, what is the strike about to you?,” he said. Allen didn’t even have a chance to answer his own question before the machinists in the room interrupted. “Pension! Pension! Pension!,” they chanted. Pensions are a major sticking point between Boeing and the union. The machinists want the company to restore the traditional pension...

October 28, 2024
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28Oct

Uruguay Elections: majority rejects pension reform and two candidates move on to the second round.

Early exit polls suggested opposition centre-left candidate Orsi had secured 44% of the vote, followed by Delgado's 27% for the ruling coalition and 16% for young conservative social media expert Andres Ojeda. Early exit polls in Uruguay's election suggest centre-left opposition candidate Yamandu Orsi is ahead of conservative rival Alvaro Delgado and a run-off vote is likely to be needed for a direct duel. Orsi had obtained 44% of the votes, according to an exit poll by Cifra, followed by Delgado's...

October 28, 2024
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28Oct

Will the Pensions Review herald long overdue integrated policy making?

The new government has laudable ambitions, but will it do more than simply “firefighting”? Pensions are a priority, judging by its speed in launching ‘a landmark’ review to boost investment, increase pension pots and tackle waste. Led by the first ever joint Treasury and DWP pensions minister Emma Reynolds, it is initially investigating scale, consolidation, the role of the single employer trust, master trusts and GPPs with their different governance structures of trustees and IGCs. The call for evidence for this, the first...

October 28, 2024
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