October 2021
19Oct

Kenya. Pension funds participation in market drops

Pension schemes cut investment in securities on Covid-19 disruptions, blunting local investor stake in the economy and making Kenya slip four positions in an index that ranks countries’ financial market attractiveness. The Absa Africa Financial Markets Index 2021 shows that reduced pension investment saw Kenya lost 17 points in the index that measures local investor capacity. The country scored 24 points out of 100, from 41 in 2020. The local investor capacity was based on the size of pension funds - key...

October 19, 2021
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19Oct

India’s pension system needs impetus to ensure adequate retirement income: study

India needs to undertake strategic reforms to revamp the pension system so as to ensure adequate retirement income, revealed the 2021 Mercer CFA Global Pension Index survey (MCGPI) released on Tuesday. The Indian pension system ranked 40th on the overall index ranking out of 43 systems and had the lowest rank in the adequacy sub-index. The primary objective of this annual survey by Mercer Consulting, a leading global management consulting firm, is to benchmark each retirement income system using more...

October 19, 2021
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19Oct

Irish pensions system at risk, new study says

The €5 hike in the State pension in last week’s budget, along with delays in increasing retirement age and introducing automatic enrolment into savings plans, all threaten the sustainability of the pensions system over the long term, according to a new study. The Mercer study points to considerable future challenges as the population ages due to the topping up of what is described as a “generous” pensions system, and a failure to address core issues. Also adding to the problem is...

October 19, 2021
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18Oct

España. La banca propone al Gobierno crear una gran plataforma de pensiones de empresas

El Gobierno quiere impulsar la contratación de planes de pensiones en el ámbito empresarial, como alternativa a los tradicionales planes de pensiones individuales. La banca y el sector asegurador pretenden ayudar a desarrollar este proyecto, para lo que han remitido al Ministerio de Inclusión, Seguridad Social y Migraciones una propuesta para crear una gran plataforma para que este tipo de productos se generalice y llegue a autónomos y a pymes. La iniciativa ha surgido en el ámbito de Inverco, la...

October 18, 2021
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18Oct

Afiliados con 10 o más años de aportes en Perú podrán acceder a las pensiones

Más de 46,000 afiliados en Perú podrán acceder a las pensiones proporcionales, ya que cuentan con al menos 10 años de aportes reconocidos por la Oficina de Normalización Previsional (ONP), tras la oficialización del Reglamento Unificado de las Normas Legales que Regulan el Sistema Nacional de Pensiones. De acuerdo con el Decreto Supremo N ° 282-2021-EF, los afiliados con 65 años de edad o más podrán pedir una pensión de jubilación proporcional especial de por vida y, además, acceder a...

October 18, 2021
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18Oct

México. Retiro por desempleo en Afores, a la baja en el mes de septiembre

La Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) dio a conocer que durante el mes de septiembre, los mexicanos realizaron retiros parciales de sus cuentas de ahorro para el retiro (Afore) por 1,896.2 millones de pesos (mdp), lo cual es 2.96% menor a los 1,954.2 mdp que se retiraron durante agosto. En lo que va del 2021, el monto a retiro por desempleo de las Afores asciende a 16,258.3 mdp., por su parte, las tres Afores que...

October 18, 2021
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18Oct

US. Trends in Retirement: Focus on Retirement Income

DC plans are addressing a wider range of participant circumstances via more customization, layered communications and programs that build financial resilience The impact of the COVID-19 pandemic and the ongoing variant spread has transformed the U.S. workforce, causing many to retire earlier than planned, others to retire later than planned, and adding to concerns about financial security across the board. For defined contribution plan sponsors, it has honed their participant retirement outcomes using a wider array of products and services,...

October 18, 2021
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18Oct

UK. Survey highlights lack of pension tax awareness amongst DC savers

Over a third (38 per cent) of defined contribution (DC) pension scheme members aged 50-65 are unaware of their tax-free pension allowance, a survey from Hymans Robertson has found. The research found that a further 32 per cent believed, incorrectly, that they can withdraw their entire pensions pot without paying tax, whilst nearly a fifth (17 per cent) wrongly believe that they do not have to pay any tax on income from their pension. Hymans Robertson partner, Kathryn Fleming, said that...

October 18, 2021
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18Oct

South Africa. Millennials hardest hit financially in 2020, study shows

Young people employed in medium to large companies and belonging to a retirement fund were harder hit financially by the pandemic than their middle-aged colleagues, with higher retrenchment rates and higher levels of financial stress, as measured by their credit scores and their default rates on debt. This is one of the findings of the annual Alexander Forbes Member Insights report, released this week, which surveyed almost a million members across the hundreds of retirement funds Alexander Forbes administers. While...

October 18, 2021
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15Oct

España. Los planes de pensiones individuales logran una rentabilidad a un año de más del 10,5%

El patrimonio de los planes de pensiones individuales se situó a finales de septiembre en 86.570 millones de euros. En términos interanuales, según informa Inverco, el sector experimenta un crecimiento de 9.103 millones de euros en el último año (11,8% más que en septiembre del año anterior). En cuanto a sus rendimientos, en el largo plazo registran una rentabilidad media anual (neta de gastos) del 3%. Y en el medio plazo (10 y 15 años), presentan un resultados del 4,6%...

October 15, 2021
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