November 2021
08Nov

Chile. Cuarto retiro AFP: quiénes no podrán extraer el dinero y por qué

Tras aprobarse en la comisión de Constitución del Senado, este martes 09 de noviembre se realizará votación en general del proyecto de ley que busca generar un Cuarto Retiro del 10% desde los fondos previsionales.. En caso de aprobarse este trámite legislativo, gran parte de los chilenos y chilenas podrán hacer uso de una parte de sus fondos de pensiones gestionados por las AFP, pero existe otro grupo que no podrá extraer el dinero desde sus cuentas. ¿Qué personas no podrán...

November 8, 2021
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08Nov

España. Escrivá rinde cuentas en el Congreso tras su propuesta para rellenar la hucha de las pensiones

La oposición se ha lanzado a pedir detalles al Gobierno sobre las reformas en el marco laboral y el sistema público de pensiones, temas que centrarán la sesión de control al Ejecutivo en el Congreso de los Diputados del próximo miércoles. En el caso de la reforma laboral, el secretario de general del PP, Teodoro García Egea, se dirigirá a la vicepresidenta tercera y ministra de Trabajo, Yolanda Díaz, para preguntarle si, finalmente, va a derogar la reforma de 2012. De...

November 8, 2021
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08Nov

US. Newly Flush With Cash, Retirement Funds Struggle to Find Appealing Investments

State and local pension funds are reaping a historic windfall thanks to billions of dollars in record market gains and surplus tax revenues. Now they need to decide what to do with the money. It is a bittersweet dilemma that the chronically underfunded retirement systems share with many household and institutional investors around the country. Just when they finally have cash to play around with, every investment opportunity seems perilous. Read more @WSJ 302 views

November 8, 2021
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08Nov

UK. More than 130 MPs call for parliament pension fund to divest from fossil fuels

More than 130 MPs, including over half of the parliamentary Labour party, have signed a cross-party letter to their pension fund calling on it to divest from fossil fuel companies to “ensure that our pensions are not funding climate disaster”. The letter, to be delivered on Monday to trustees of the Parliamentary Contributory Pension Fund (PCPF), applauds recent reductions in investments in fossil fuels, but adds: “We believe you must go a step further, divesting from the fossil fuel industry...

November 8, 2021
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08Nov

India:Govt looks into inclusive system for retirement income

The central government is considering launching a drive to provide retirement benefit cover to nearly 380m people in the uncovered workforce in the country, so as to narrow the gap between higher life expectancy and lack of retirement income support. Inter-ministerial consultations are taking place on how to achieve this goal. “The idea is everyone should be in one of the schemes,” an official told The Financial Express. Currently, around 120m workers, the bulk of whom in the organised sector, enjoy...

November 8, 2021
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08Nov

Kenya. Pension scheme providers urged to adopt new regulations

The government has asked pension scheme providers in the country to adhere to the new pension regulations. The new regulations came into force after the adoption of the Pensions Amendment Bill of 2020. The Bill allows subscribers of pensions schemes to access up to 40 per cent of their pension to own houses. Previously, upon discharge, employees were entitled to their own contributions, 50 per cent of their employer’s contributions, and any investment income that accrued after those contributions. Furthermore, the regulations...

November 8, 2021
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05Nov

The Economic Burden of Pension Shortfalls: Evidence from House Prices

By Darren Aiello, Asaf Bernstein, Mahyar Kargar, Ryan Lewis & Michael Schwert U.S. state pensions are underfunded by trillions of dollars, but their economic burden is unclear. In a model of inefficient taxation, real estate fully reflects the cost of pension shortfalls when it is the only form of immobile capital. We study the effect of pension shortfalls on real estate values at state borders, where labor and physical capital could more easily relocate to a state with a smaller...

November 5, 2021
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05Nov

The Skill-Specific Automatability of Aging Workers and Retirement Decisions

By Zeewan Lee Much of the discourse on the impact of automation on labor supply tends to assess the labor force as a whole, thereby disregarding the marginal effect on aging workers. In lights of the growing technological changes, we assess the linkage between the automatability of workers and retirement timing. Based on the theoretical model of task-based technological changes and drawing data from the Health and Retirement Study and O*NET, we create an Automatability Index based on workers’ primary...

November 5, 2021
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05Nov

México. El BID propone crear un fondo para financiar transición de pensiones estatales

“Las alternativas de financiamiento” demandarán esquemas financieros innovadores, que permitan crear los incentivos necesarios para un buen manejo del pasivo pensionario”, señaló el BID en un análisis, informó El Economista. De acuerdo con la información, una de las alternativas que evaluó el BID es la emisión de bonos cupón cero, similares a los bonos Brady, los cuales son un instrumento financiero que emiten los países emergentes para reestructurar su deuda con los bancos comerciales extranjeros. “(Los bonos) ayudarían a los gobiernos...

November 5, 2021
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05Nov

Puerto Rico. Junta presenta enmienda al Plan de Ajuste sin recorte a las pensiones

La Junta de Supervisión Fiscal (JSF) anunció este jueves la presentación de su propuesta de octava enmienda al Plan de Ajuste del Gobierno, la cual no incluye ninguna modificación o "recorte" a los beneficios de pensión de los empleados activos y retirados del Gobierno, según lo dispuesto en la Ley 53-2021 para autorizar la emisión de nuevos bonos de obligación general (OG). Leer también Gobernador de Puerto Rico firma ley que propone reducir deuda pública El Plan de Ajuste es catalogado...

November 5, 2021
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