March 2019

19Mar

Early Access to Pension Savings : International Experience and Lessons Learnt

By Fiona Stewart, Himanshi Jain & Will Sandbrook The objectives of a well-designed pension system are poverty reduction in old age and income smoothing throughout an individuals' lifetime. Over the last thirty years, changing demographic trends have caused a shift from 'pay as you go' and occupational defined benefit (DB) schemes - where the obligation for paying for retirement income is with the state and employers - to defined contribution (DC) schemes, where the obligation to save for retirement rests...

March 19, 2019
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19Mar

México. Afore Azteca arrasa con cuentas de trabajadores

La administradora de fondos para el retiro (afore) Azteca se convirtió en el fondo con el mayor número de cuentas de trabajadores que ahorran para tener una pensión, quitando el primer lugar a XXI Banorte que durante el sexenio pasado llevaba la batuta en la industria. De acuerdo con información de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), durante el 2018, afore Azteca,de Ricardo Salinas Pliego, registró 11 millones 977,524 cuentas, un incremento de 453.5%,...

March 19, 2019
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19Mar

Chile. Asociación de AFP sale a defender las utilidades de la industria

La Asociación de AFP fue ayer a la Comisión de Trabajo de la Cámara de Diputados por primera vez desde que se envió el proyecto que reforma el sistema de pensiones al Congreso. El presidente del gremio, Andrés Santa Cruz, salió a defender las utilidades que obtienen las AFP frente a las críticas que hubo durante la sesión. “Si las AFP no tuvieran ningún peso de utilidad durante todo este tiempo, la pensión de las personas subiría en promedio...

March 19, 2019
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19Mar

Las acciones de Brasil rompen un récord por el optimismo sobre la reforma al sistema de seguridad social

El índice bursátil de referencia de Brasil, Ibovespa, alcanzó un nuevo récord histórico gracias a las expectativas de que el Congreso apruebe una reforma al sistema de seguridad social del país. El indicador subió a 100.000 por primera vez el lunes, con lo cual las ganancias este año suman 14 por ciento. "Es difícil encontrar otra historia tan positiva como la de Brasil en la región", comentó Emy Shayo, directora de estrategia de valores para América Latina de JPMorgan...

March 19, 2019
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19Mar

Chile. NO+AFP confirma primera marcha de 2019 en Valdivia contra sistema de pensiones

La Coordinara No+AFP confirmó que habrá una marcha en Valdivia contra el sistema de pensiones, que pese al anuncio de modificaciones, mantiene a las administradoras de fondos. El llamado a marchar sería de carácter nacional, siendo la primera actividad de manifestación de la organización en 2019. Según la vocera regional de la colectividad, Aurora Delgado, las modificaciones proyectadas al actual sistema de pensiones, profundizaría la pobreza en los actuales y futuros jubilados. La dirigenta indicó que no se ha...

March 19, 2019
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19Mar

New pension comparison app set to launch

Age Wage, a new defined contribution comparison service, is expected to be up and running in June this year. The fintech company, which will soon enter the Financial Conduct Authority sandbox, will be launching an app which will allow savers to receive a score for their pension, and switch to another provider if they’re not happy with their results. Through an app, savers will be able to see the value of their pot, how it compares to a benchmark,...

March 19, 2019
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19Mar

UK. Government gives green light to CDC pension schemes

The government has confirmed the launch of Collective Defined Contribution pension schemes in a new consultation. CDC schemes, which are already popular in Denmark and the Netherlands, pay out a regular income from a collective fund rather than producing an individual 'pension pot'. Last year, Royal Mail reached a deal with the Communication Workers Union which sought to launch CDC pensions in the UK. The government has today confirmed that it will "introduce CDC provisions slowly", starting with the...

March 19, 2019
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19Mar

Blackstone joins KKR and BlackRock in Mexico private equity fundraising

Blackstone Group has raised $695 million from Mexican pension funds for its first two local private equity funds, filings showed, joining Black Rock and KKR & Co in expanding in Mexico following regulatory changes. Several of the world’s top private equity managers have quietly raised billions of dollars from Mexican pension funds, known as afores, since new rules were enacted early last year, filings to the Mexican Stock Exchange and a non-public document reviewed by Reuters showed. Regulators have...

March 19, 2019
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19Mar

Only half of Americans have access to a 401(k)

Using a 401(k) plan to save for retirement is an attractive option: You get tax advantages, the funds are automatically taken out of your paycheck for you and sometimes your company even matches your contribution up to a certain amount, which is essentially free money. But many Americans don’t have access to this specific retirement tool. “Roughly half of all households are offered work-based retirement plans at their current jobs,” researchers at the Stanford Center on Longevity point out...

March 19, 2019
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19Mar

Canada’s Biggest Pension Fund Mulls Opening First China Office

Canada Pension Plan Investment Board, which manages around C$368.5 billion ($277 billion), is considering opening its first office in China as it seeks greater exposure to the world’s second-largest economy. Canada’s largest pension fund investor could open an office in Beijing as soon as next year, Hong Kong-based head of Asia Pacific Suyi Kim said in an interview this month. Staff there would then work closely with CPPIB’s 130 employees in Hong Kong, which have helped to invest C$42...

March 19, 2019
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