March 2019

26Mar

UK. Over a million pensions face 55% tax timebomb

The pension pots of around 290,000 UK workers have already surpassed the Lifetime Allowance (LTA), meaning that they could face a hefty tax on any additional retirements savings. In addition to those already past the point of no return, research by mutual insurer Royal London has revealed that there are around 1.25 million people at risk of breaching the LTA by the time they retire. This is because senior and well-paid employees with defined benefit or defined contribution pension...

March 26, 2019
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25Mar

Perú. ONP: Los riesgos de mantener el sistema y de transformarlo a una AFP estatal

Durante las últimas semanas, la discusión pública en torno al sistema previsional se ha centrado en el futuro de la Oficina de Normalización Previsional (ONP). Esta opera con un fuerte déficit financiero, el cual requiere transferencias anuales del Estado equivalentes al 0,2% del PBI para completar el pago mensual a sus pensionistas. Ese déficit, que incluso esconde el costo oculto de aquellas personas que aportaron a la ONP, pero no reciben pensión por no cumplir el mínimo de años...

March 25, 2019
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25Mar

México. Llama PENSIONISSSTE a impulsar una educación financiera en la economía familiar

El Vocal Ejecutivo del PENSIONISSSTE, Iván Pliego Moreno, llamo a impulsar una educación financiera en la economía familiar, ya que de acuerdo con la Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR), en México, al cierre de 2018, el ahorro voluntario representó sólo el dos por ciento del total de recursos registrados en las Afores. Destacó que el Fondo Nacional de Pensiones de los Trabajadores al Servicio del Estado administra alrededor de dos millones de cuentas...

March 25, 2019
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25Mar

Chile. Presidente Piñera por pensiones: “Queremos implementar un seguro para que el retiro programado no baje su monto”

El Presidente, Sebastián Piñera, se refirió este domingo a sus principales cartas bajo la manga en materia de Reforma Previsional. En entrevista con Mesa Central de Canal 13, el mandatario confirmó que se está contemplando la posibilidad de incorporar un seguro en la cotización de cargo en el empleador, que opere cuando el monto de la cotización individual se extinga. Esto, para que las pensiones no bajen y se mantenga. “Lo que queremos hacer es un seguro para que...

March 25, 2019
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25Mar

Namibia. N$700m pensioners money at risk

THE Government Institutions Pension Fund is suing the South African company, Steinhoff Holdings International, for possible losses of around N$700 million invested in the company since 2014. Steinhoff Holdings International is a global retailer with more than 40 brands in over 30 countries. Some of Steinhoff's outlets are Incredible Connection, Hifi Corp, Hertz Car Rental, Timbercity, Pep Stores, Dunns, Shoe City, Pennypinchers, Tekkie Town and Ackermans, among many others. The company was hit by a N$100 billion...

March 25, 2019
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25Mar

Canada. A long-term fund with $370 billion under management shares some investing ‘themes’

Canada’s national pension fund invests for the long-term, its CEO told CNBC on Sunday, and he named trends that are helping to guide its decision-making. “We’re trying to go deep on certain areas where we see long-term trends and try to identify the best parts of those themes to invest in, companies to invest in, to express that view,” Mark Machin, president and CEO of Canada Pension Plan Investment Board, told CNBC’s Martin Soong at the China Development Forum...

March 25, 2019
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25Mar

Enhancing the Sustainability of Indian Pension Disbursal-System by Employing Digital Technology

By Vijay Kumar Gupta (Government of India) India is a welfare state progressing well economically. If this progress is to continue without social upheavals, a sustainable social security system is mandatory. Pensions, and pension reforms, are an essential part of any social security system. This paper argues that it is imperative to reform the existing provident and pension fund entities. We also need better systems for administration and delivery of old age assistance. The major areas which the reforms should...

March 25, 2019
Articles, System Sustainability, ,
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25Mar

Superannuation in Australia: A Survey of the Literature

By Geoffrey Kingston (Macquarie University) & Susan Thorp (University of Sydney Business School; Financial Research Network (FIRN); Centre for International Finance and Regulation (CIFR)) In 2017 Australian superannuation assets stood at 148 per cent of GDP, or $2.5 trillion in absolute terms. This was the world's fourth largest pool of retirement savings, a remarkable outcome over 25 years of the operation of the Superannuation Guarantee. We survey the local academic, industry and policy literature on the economics of superannuation during the...

March 25, 2019
Articles, Pension design,
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25Mar

Can an Ageing Workforce Explain Low Inflation?

By Benoît Mojon (Bank for International Settlements (BIS)) & Xavier Ragot (Banque de France) Why is wage inflation so weak in spite of the recent sharp reduction in unemployment? We show that this may be due to an ongoing change in the composition of the labor supply. Indeed, the participation rate of workers aged between 55 and 64 has increased steadily over the last decade, from a third to above a half on average across OECD countries. This is most...

March 25, 2019
Aging, Articles, Labor Market,
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22Mar

Perú. AFP plantean que Estado otorgue S/ 1,650 a cada peruano al nacer para su fondo de pensiones

El Gobierno y el Congreso de la República hoy ya coinciden en la necesidad de mejorar el sistema de pensiones, que en los últimos años viene siendo objeto de fuertes críticas. Para contribuir al debate, la Asociación de AFP presentó ayer una propuesta de reforma integral del sistema de pensiones, basada en un esquema de tres pilares y que será entregada al Ejecutivo. La propuesta incorpora el concepto de solidaridad para el segmento de la población de ingresos más...

March 22, 2019
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