December 2018

04Dec

Perú. AFP podrán ofrecer planes de descuento en las comisiones que cobran a sus afiliados

Según la SBS, el proyecto de norma establece que los planes que decidan ofrecer las AFP serán un esquema de bonificación fijado por esta. Con el objetivo de promover una mayor competencia en el Sistema Privado de Pensiones (SPP), la Superintendencia de Banca, Seguros y AFP (SBS) ha publicado un proyecto normativo que permite a las AFP ofrecer planes de descuento en las comisiones por administración que cobran a sus afiliados, en función al tiempo de permanencia o regularidad de...

December 4, 2018
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04Dec

Canada pension fund investment into US detention firm larger than reported

CPPIB holds $6.1m in investments in Geo Group, a firm that runs US detention facilities under Trump’s immigration crackdown A controversial investment by one of Canada’s biggest pension funds in a company which operates private prisons in the United States is larger than initially thought, recent securities filings have revealed. The Guardian and Documented reported last month that the Canada Pension Plan Investment Board (CPPIB) – which manages $366.6bn in pension funds on behalf of some 20 million Canadian retirees –...

December 4, 2018
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04Dec

Bermuda. Athene Announces Significant Pension Risk Transfer Transaction with Bristol-Myers Squibb

Athene Holding Ltd. (“Athene”) (NYSE: ATH, a leading retirement services company, announced today a first-of-its-kind pension plan termination transaction with Bristol-Myers Squibb Company (NYSE: BMY) covering more than 24,000 active employee participants, retirees, beneficiaries, and former Bristol-Myers Squibb employees who have not yet commenced their benefits. Under the agreement, Athene’s wholly-owned Iowa-domiciled life insurance subsidiary, Athene Annuity and Life Company (“AAIA”), agreed in advance to provide an annuity contract covering all obligations of Bristol-Myers Squibb’s U.S. Retirement Income Plan (the...

December 4, 2018
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03Dec

España. Planes de pensiones, «ganadores» en el largo plazo

Un mayor conocimiento de los ciudadanos sobre sus futuras pensiones, mayores incentivos fiscales y una mejor rentabilidad impulsarían en España su contratación. El aumento de la esperanza de vida en España hasta los 83 años, la inversión de la pirámide poblacional (ya mueren más personas de las que nacen), un mercado laboral en que los salarios de los nuevos trabajadores son cada vez más bajos y un déficit en la Seguridad Social que alcanzó en 2017 un récord histórico de...

December 3, 2018
Noticias
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03Dec

UK. Pensions dashboards to enable more informed retirement planning

Proposals to give millions of people their pension facts and figures at their fingertips have been unveiled by the government. Pioneering proposals to give millions of people their pension facts and figures at their fingertips have been unveiled by the government today (3 December). New free, user-friendly ‘pensions dashboards’ would allow people to access their information from most pension schemes in one place online for the first time. Pensions dashboards – an idea welcomed by consumer groups and pension providers - would: ...

December 3, 2018
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03Dec

India. Why pension funds are a good bet for investors

They are regulated by India's Pension Fund & Regulatory Development Authority Q: Investment in pension funds is becoming quite popular. As I am returning to India for good this year, I want to know how safe and secure these funds are and whether they are properly regulated? A: Pension funds are regulated by the Pension Fund & Regulatory Development Authority (PFRDA). This authority exercises control over pension fund managers (PFM). The PFMs are permitted to invest only in corporate bonds which...

December 3, 2018
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03Dec

Waiting on Retirement: Aging and Economic Insecurity in Low-Wage Work

By Mary Gatta America is witnessing a retirement crisis. As the labor market shifts to the gig economy and new strains restrict social security, the American Dream of secure retirement becomes further out of reach for up to half of the population. In Waiting on Retirement, Mary Gatta takes the case of restaurant workers to examine the experiences of low-wage workers who are middle-aged, aging, and past retirement age. She deftly explores the many factors shaping what it means to...

December 3, 2018
Aging, Books, Labor Market,
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03Dec

Downhill from Here: Retirement Insecurity in the Age of Inequality

By Katherine S Newman As millions of Baby Boomers reach their golden years, the state of retirement in America is little short of a disaster. Nearly half the households with people aged 55 and older have no retirement savings at all. The real estate crash wiped out much of the home equity that millions were counting on to support their retirement. And the typical Social Security check covers less than 40% of pre-retirement wages--a number projected to drop to under...

December 3, 2018
Books, Pension design, Savings, ,
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03Dec

The Effect of Work Disability on the Intention to Retire of Older Workers

By Danilo Cavapozzi (Ca Foscari University of Venice - Dipartimento di Economia; Netspar) & Chiara Dal Bianco (Department of Economics and Management, University of Padova) In this paper, we analyze the effect of work disability on the desire to retire as soon as possible of older workers. We exploit objective health indicators and anchoring vignettes to develop work disability measures enhancing the comparability across individuals of work disability self-assessments. Our results show that, even once controlling for individual fixed-effects, individuals...

December 3, 2018
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03Dec

Can Information Influence the Social Insurance Participation Decision of China’s Rural Migrants?

By John Giles (World Bank; IZA Institute of Labor Economics; World Bank - Development Research Group (DECRG)), Xin Meng (Australian National University; IZA Institute of Labor Economics), Guochang Zhao (Southwestern University of Finance and Economics (SWUFE)) This paper uses a randomized information intervention to shed light on whether poor understanding of social insurance, both the process of enrolling and costs and benefits, drives the relatively low rates of participation in urban health insurance and pension programs among China's rural-urban migrants....

December 3, 2018
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