December 2021

UK. WPC launches inquiry into saving for later life

The Work and Pensions Committee (WPC) has launched the third and final part of its inquiry into the impact of the pension freedoms and protection of savers, focusing on what needs to be done to help people plan and save for retirement. The inquiry, which will be hearing evidence until 2 February 2022, will consider whether households have adequate pension savings and how the government can improve member outcomes. In particular, it will consider issues around auto-enrolment, retirement income targets and...

Switzerland. Pension reform passes in parliament but set to be challenged to vote

By SWI The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well as an increase in value-added tax. Both chambers of parliament on Wednesday agreed on a series of compromises, but left-wing political parties and trade unionsExternal link have vowed to challenge the reform in a nationwide vote. They argue women have to bear the brunt of the reform as their official retirement age will be set at 65, in line...

México. Ahorrro voluntario esquiva al COVID-19 y sus variantes; crece en más de 20% a octubre

México. Ahorrro voluntario esquiva al COVID-19 y sus variantes; crece en más de 20% a octubre

El ahorro voluntario y solidario de las Administradoras de fondos para el retiro (Afores) se ha mantenido con crecimientos de doble dígito, pese a la incertidumbre que se generó durante la pandemia del COVID-19 en 2020 y el temor de nuevas variantes en este año como ómicron. De acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), al cierre de octubre, el saldo del ahorro voluntario y solidario ascendió a 147,711 millones de pesos,...

UK. 48% of retirees worried about pension adequacy

Almost half (48 per cent) of retirees are worried that they may eventually run out of money in retirement, yet 41 per cent have no plan as to how much they should be spending each year to avoid this issue, research from Abrdn has revealed. The survey showed that 24 per cent of retirees, around 3 million Brits, were expecting to boost their savings with inheritance, whilst 33 per cent, equal to around 4 million retirees, plan to downsize to...

Suixa. Aprueban reforma de pensiones; opositores convocarán a referéndum

Suiza. Aprueban reforma de pensiones; opositores convocarán a referéndum

La edad oficial de jubilación para las mujeres se situará en 65 años, en consonancia con la de los hombres, en virtud de la reforma aprobada por el Parlamento suizo. Oposición de sindicatos y de la izquierda. El Parlamento suizo aprobó este miércoles una importante reforma del sistema de pensiones, incluido un controvertido aumento de la edad de jubilación de las mujeres. La reforma también prevé una compensación financiera, escalonada durante nueve años, para las mujeres directamente afectadas por el cambio,...

Aegon strikes deal with RGA to reinsure longevity risk in pensions

Aegon, the Dutch insurer, said on Wednesday it has struck a deal with Reinsurance Group of America (RGA) to hedge the risk that people in its Dutch pensions business will live longer than expected. The move "improves the risk profile of this business and is another step to generate stable, regular, and reliable cash flows," said CEO Lard Friese in a statement. Aegon said under the deal "initially" it would sacrifice 40 million euros ($45 million) in operating capital generation at...

Retiros de fondos desde las AFP en Chile y Perú le han costado US$ 9.105 millones a Sura

Retiros de fondos desde las AFP en Chile y Perú le han costado US$ 9.105 millones a Sura

Retiros de fondos desde las AFP en Chile y Perú le han costado US$ 9.105 millones a Sura. Los sucesivos retiros de fondos de pensiones aprobados en Chile y Perú han sido criticados por los expertos del sector por su efecto a largo plazo sobre los afiliados. “No es una ayuda real, por eso hemos dicho que esto es pan para hoy y hambre para mañana”, expresó el presidente la Asociación Colombiana de Administradoras de Fondos de Pensiones y de Cesantías...

Panamá. Gobierno pagará $178 mil a la OIT para validar estudio actuarial de la CSS

Panamá. Gobierno pagará $178 mil a la OIT para validar estudio actuarial de la CSS

EL Gobierno Nacional pagará a la Organización Mundial del Trabajo (OIT) la suma de $178,122 para que elabore un estudio actuarial de la Caja de Seguro Social (CSS) y esté sea entregado a medidos de 2022 al Diálogo Nacional por la Caja (DNC). Leer también Suiza. Aprueban reforma de pensiones; opositores convocarán a referéndum El DNC que fue convocado por el presidente de la República, Laurentino Cortizo Cohen para buscar una solución para el fondo del programa de pensiones denominado Invalidez,...

UK. Pension risk settlement market set to pass £45bn by end of 2021

The UK pension risk settlement market is expected to exceed £45bn by the end of 2021, representing the third year in a row that activity has reached this level, according to analysis from Aon. The firm explained that whilst the market was “relatively subdued” in the first half of 2021, with £7.7bn of bulk annuity deals completed, the pace has since accelerated. As a result, Aon predicted that there will be close to £30bn of bulk annuity deals completed by the...

Retirement trends: Customizing planning post-pandemic

Retirement may seem like table stakes in the benefits landscape, but we’ve entered a new era where many employees are thinking about their retirement plans differently. Just 62% of workers are confident they will have enough put away to retire, according to the Employee Benefit Research Institute. And recent Morgan Stanley and SHRM research in Sept. 2021 found there are three top fears around retirement: Not having enough saved, outliving retirement savings, or losing it all in a down market....