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February 2022

Tunji Andrews is Building Awabah, a Pension Platform for Nigeria´s Informal Sector

The world’s population is expected to grow by 2 billion people from 7.7 billion in 2019 to 9.7 billion in 2050. The report suggested that nine countries would make up over half the projected growth of the global population, five of which are African countries – Nigeria, the Democratic Republic of Congo (DRC), Ethiopia, Tanzania and Egypt. In agreement, Cities Alliance reported that about 95 per cent of this growth will happen in low and middle-income countries globally. Africa is...

Argentina. Jubilaciones, pensiones y asignaciones aumentarán 12,28% desde marzo

El Presidente aseguró que "todas las jubiladas y jubilados empezarán el año ganándole a la inflación", al precisar que el aumento "supera en 2,4 puntos porcentuales al que se hubiese otorgado en el mismo período con la fórmula de la gestión anterior". Leer también Argentina. Cuánto aumentarán las jubilaciones, pensiones, AUH y otras asignaciones de Anses El presidente Alberto Fernández anunció que el primer aumento en jubilaciones, pensiones y asignaciones del año será de un 12,28% y alcanzará a más de...

Latin America lags on decarbonization financing, report says

Decarbonization efforts in Latin America are being held back by lack of policy and private sector financing, according to a report released Wednesday by Janus Henderson Investors. Read also UK. Force pension funds to align with net zero goal, says Richard Curtis The Janus Henderson Latin America Decarbonization Report found that climate bond issuance in Latin America, at $45 billion in 12 countries at the end of 2021, is relatively small compared to the size of the region and to the...

Puerto Rico. Miles de empleados públicos marchan por justicia salarial

Miles de empleados del sector público de Puerto Rico, encabezados por los maestros y los bomberos, marcharon este miércoles en San Juan con rumbo a La Fortaleza, sede del Ejecutivo, para exigir mejoras salariales y un retiro digno. Leer también Puerto Rico afronta la mayor reestructuración de deuda municipal de la historia de EE.UU. tras aprobar la Justicia su plan La primera marcha, convocada por los principales sindicatos de maestros, comenzó en el parque Luis Muñoz Rivera y se dirigió a...

Should Ghana raise compulsory retirement age to 65?

Authorities in Ghana are calling for a national dialogue for a review of the country’s pension regulation to increase compulsory retirement age from 60 to 65. Would this move worsen the employment situation or help the state meet its retirement obligations? Since 1992, the compulsory retirement age in Ghana has been pegged at 60. At the time, the average life expectancy was 57.4 years. 30 years down the line, life expectancy has increased to 64.4 years and the compulsory retirement...

Argentina. Cuánto aumentarán las jubilaciones, pensiones, AUH y otras asignaciones de Anses

De cuánto será el aumento que beneficiará aproximadamente a 18 millones de personas y quiénes no recibirán la suba prevista por Anses. Desde la Administración Nacional de la Seguridad Social (Anses) activaron el calendario de pagos de febrero de este año y a partir del 1.º de marzo de este año habrá un aumento trimestral de las jubilaciones (así como pensiones y el resto de las prestaciones sociales) rondará entre el 11% y el 12%. La suba prevista por Anses beneficiará...

Kenya. Pension-backed mortgages boost to affordable housing

For more than a decade, Kenyans have had the leeway to use up to 60 percent of their accrued retirement benefits as a guarantee for mortgage loans. However, a study by the Retirement Benefits Authority (RBA) shows that less than 0.1 percent of members of retirement benefits schemes have taken advantage of the provision. In a bid to further catalyse individuals to utilise their pension savings towards homeownership, the Retirement Benefits (Mortgage Loans) - (Amendment) Regulations was enacted in 2020 allowing...

Jamaica. Tourism pension fund likely to grow faster than traditional funds – Goffe

The Ministry of Tourism (MOT) indicates that, as at December 31, 2021, the value of assets managed by Sagicor Life Jamaica on behalf of the Tourism Workers Pension Scheme was approximately $506 million. At the launch of the scheme, Minister of Tourism Edmund Bartlett said he expected the fund to grow to $100 billion by 2023 and to reach $1 trillion in 10 years. The management of the assets of the scheme falls under Sagicor's managed pension portfolios which as at...

US. Pension risk transfer market posts record-breaking 2021

The U.S. pension risk transfer market had a record-breaking year in 2021, with an estimated total volume of between $38 billion and $40 billion, according to a report from Legal & General Group. Read also US. New York’s public pension fund to divest from 21 companies over transition risk In the insurer's latest Pension Risk Transfer Monitor, issued Tuesday , the U.S. PRT market's volume for the year well exceeded the total of $27 billion for 2020, and also exceeded the...

UK. Climate change a ‘fundamental risk’ to scheme longevity

Climate change is severely impacting on the covenants of a range of employers sponsoring UK defined benefit (DB) schemes, the Employer Covenant Practitioners Association (ECPA) says. In a paper published today (8 February), the ECPA said climate change is "progressively impacting" the covenant of many sponsors, from impacting upon cashflows to representing a "fundamental risk" to scheme longevity. It argues that DB schemes should consider the impacts of climate change through sectoral analysis, including regulation and technological evolution, to best consider...