April 2019

05Apr

European Commission approves legal framework for Pan European Pension Products

1. What is the Pan-European Personal Pension Product (PEPP) and what is this new legislation about? The pan-European personal pension product (PEPP) is a voluntary personal pension scheme that will offer consumers a new pan-European option to save for retirement. This new type of product is designed to give savers more choice and provide them with more competitive products, while enjoying strong consumer protection. It could be offered by a broad range of financial providers such as insurance companies,...

April 5, 2019
News, Slider,
Read more...
05Apr

China to cut social security contributions

China will cut the share of enterprise contributions to urban workers' basic aged-care insurance from 20 to 16 percent starting May 1, the State Council announced Thursday. Cutting the rates for unemployment and work-related injury insurance will be extended to April 30, 2020, You Jun, vice-minister of human resources and social security, said at a State Council Information Office news conference. The new policies will cut aged-care insurance fees by more than 190 billion yuan ($28.3 billion) and unemployment...

April 5, 2019
News, Slider,
Read more...
05Apr

UK. Green light for dashboards in 2019 puts pension savers in driving seat

Amber Rudd unveiled proposals today (4 April) to support industry to deliver free, user-friendly services showing people their pensions information online. Savers will be in the driving seat with all the facts and figures about their pensions and potential retirement income at their fingertips in one place for the first time – on smartphones, tablets and computers. Work and Pensions Secretary Amber Rudd said: With record numbers saving for retirement as a result of our revolutionary reforms, it’s...

April 5, 2019
News, Slider,
Read more...
05Apr

France wants to cap executive pensions, in dig at Airbus

The French government wants to impose a cap on executives' pension packages, amid criticism of a hefty retirement deal for the CEO of Airbus. Finance Minister Bruno Le Maire said Thursday on BFM television that he will propose legislation in coming weeks to limit pension packages to 30 percent of an executive's annual pay. He didn't elaborate. Le Maire has said the package for Airbus' Tom Enders was "excessive" and could hurt the plane maker's reputation. French media reports...

April 5, 2019
News, Slider,
Read more...
05Apr

US. Democrats want to force businesses to contribute to retirement plans, and they’ll pay for it by raising taxes on the wealthy

Democrats aren’t just pushing for a higher minimum wage. Now they’re talking about “minimum retirement.” Sens. Chris Coons of Delaware and Amy Klobuchar of Minnesota planned to introduce a bill Thursday that would make companies contribute to employee retirement plans. Here’s what the measure calls for: Businesses would be required to pay at least 50 cents into an employee retirement plan for every hour worked. To offset that cost, companies would receive a tax credit for a portion of...

April 5, 2019
News, Slider,
Read more...
04Apr

Perú. Habrá jubilación anticipada para afiliados de AFP desempleados pero restringida

El Congreso de la República aprobó el proyecto de ley para la restitución del Régimen Especial de Jubilación Anticipada (REJA) lo que permitirá acceder a este beneficio a los afiliados de las AFP desempleados pero con restricciones, comparado con el régimen existente hasta el 31 de diciembre del 2018. El texto sustitutorio del dictamen aprobado por la Comisión de Economía del Congreso fue aprobado con 48 votos a favor, 29 en contra y 5 abstenciones. El proyecto fue exonerado...

April 4, 2019
Noticias,
Read more...
04Apr

México. Diputados del PRI anuncian voto en contra de reforma a las afores

Los diputados y dirigentes sindicales del PRI Isaías González Cuevas y Carlos Pavón Campos se mostraron en contra del proyecto de reforma a la Ley del Sistema de Ahorro para el Retiro (SAR), que se prevé se discuta en el Pleno de la Cámara de Diputados este jueves, pues afirmaron que con la reforma se aumenta a dos las comisiones cobradas a los trabajadores por las instituciones financieras que manejas las cuentas. La reforma a la Ley del SAR,...

April 4, 2019
Noticias,
Read more...
04Apr

Australian Pension Funds in Talks to Create $78 Billion Giant

Two of Australia’s biggest pension funds are exploring a merger that would create a retirement-savings giant with more than A$110 billion ($78 billion) in assets under management. First State Super and VicSuper Pty signed a non-binding memorandum of understanding and believe a merger could “deliver significant benefits to members,” according to a statement Thursday. A recommendation to the pair’s respective boards is expected around the middle of the year. Consolidation in Australia’s A$2.8 trillion pension industry is gathering pace...

April 4, 2019
News, Slider,
Read more...
04Apr

South Africa. Bad governance can undo govt guarantees of SOE investments – pension fund chair

Government guarantees of investments in state-owned enterprises can be made meaningless by bad governance, Dr Renosi Mokate, chair of the board of trustees of the Government Employees Pension Fund said on Tuesday. Mokate was taking parting in a panel discussion on financing sustainable infrastructure at the 4th annual meeting of the New Development Bank, commonly known at the Brics Bank, in Cape Town. The GEPF manages pensions and other benefits for state employees in South Africa. The Public Investment...

April 4, 2019
News, Slider,
Read more...
04Apr

US. Miners and retirees learn about legislation to save pensions

More than 300 active members and retirees of the United Mine Workers of America (UMWA) attended a conference Wednesday to learn more about their benefits. The union is urging Congress to pass legislation that will save pensions for more than 106,000 active miners and their widows. Miners from West Virginia, Ohio, Kentucky, and Virginia were invited to the informational conference at a hotel in Charleston. Organizers filled them in on the status of the legislation. Congress is considering adding...

April 4, 2019
News, Slider,
Read more...