January 2022
10Jan

UK. Pensions largest component of household wealth – ONS

Pensions make up more than any other component of total net household wealth at 42 per cent, although inequalities remain within pension provisions, data from the Office for National Statistics (ONS) has revealed. The ONS noted that the proportion of pension wealth has increased over the past 14 years, likely due to the introduction of auto-enrolment, increases to state pension age, and varying defined benefit (DB) pension pot valuations. Retired households were found to be wealthier than those of working age,...

January 10, 2022
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10Jan

Malaysia. Tweak pension fund to benefit low- income workers

In our published paper nearly a decade ago, we wrote that “... scant attention is given to the plight of low-income workers in a situation of rising inequality caused by widening pay-gaps or differences in actual wages”, and “low average savings balances raise the question of retirement adequacy at desired income replacement rates” (Hamid and Chai, 2013). We stated that, “Since either expanding the accumulation phase or setting a minimum sum balance would result in unpopular delayed pay-outs, other solutions must...

January 10, 2022
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07Jan

Chile. Consejo Fiscal Autónomo y senadores ponen en jaque viabilidad de la Pensión Garantizada Universal por falta de financiamiento

Los parlamentarios de oposición afirmaron que el gobierno se debe abrir a nuevas fuentes de financiamiento para garantizar la sostenibilidad fiscal de la propuesta. Entre ellas mencionaron que se puede revisar más exenciones tributarias o bien avanzar con cambios al royalty, y con ello asegurar recursos permanentes. Leer también Chile. Pensión Garantizada Universal (PGU): Oposición pidió al Gobierno no acudir al TC por impuesto a “super ricos” Si ya el tema del financiamiento era un dolor de cabeza para Hacienda, ahora...

January 7, 2022
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07Jan

España. El gasto en jubilaciones creció un 52% en diez años a la espera del ‘baby boom’

La reforma de las pensiones de 2013, prácticamente desmantelada por la diseñada por el ministro de Inclusión, Seguridad Social y Migraciones, José Luis Escrivá, pero sobre todo la de 2011, que contemplaba el progresivo aumento de la edad de jubilación hasta los 67 años en 2027 y la ampliación del periodo de cálculo de las prestaciones, empiezan a dejar ver, tras una década de su entrada en vigor, tímidos efectos positivos, con un descenso reseñable de las jubilaciones anticipadas...

January 7, 2022
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Bolivia. Habilitados no sacaron aportes de AFP para garantizar su jubilación
07Jan

Bolivia. Habilitados no sacaron aportes de AFP para garantizar su jubilación

Después de que sólo el 25 por ciento de los habilitados para retirar sus aportes de las administradoras de fondos de pensiones (AFP) sacó su dinero, los economistas consideran que esto es bueno para el sistema financiero y los futuros jubilados. Además, creen que los beneficiarios prefirieron garantizar su jubilación ante los porcentaje bajos de dinero ofrecidos, que no les permitían pagar deudas ni realizar emprendimientos. Leer también Dividendos demográficos y crecimiento económico en América Latina. Un equilibrio de trampa...

January 7, 2022
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07Jan

US. Pandemic’s impact on retirement savings varies by geography, gender and age

Nearly every American has felt the impact of the pandemic on the ability to save for retirement. “Retirement is expensive, and Americans were struggling to save enough money for it long before the pandemic,” according to a report from The Penny Hoarder on its recent survey. “The economic turmoil of the pandemic underscored some critical lessons about investing for the long term, including keeping calm during turbulent markets and using market slumps as an opportunity to invest when prices are...

January 7, 2022
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07Jan

UK. Expanding auto-enrolment could cost employers more, experts warn

Proposed legislation expanding auto-enrolment pensions to include thousands more employees, including younger workers and lower earners, could lead to higher costs for employers, experts have warned. A bill was introduced to Parliament yesterday (5 January) that would see the minimum age for auto-enrolment drop from 22 to 18, giving employees an extra four years of savings towards their pensions. The proposal would also scrap the £10,000 minimum earning threshold that currently triggers automatic enrolment, meaning that all workers over 18 would...

January 7, 2022
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07Jan

India’s jobs crisis is more serious than it seems

Jitendra Maurya was one of more than 10,000 jobless young people who turned up for interviews for 15 low-skilled government jobs in the central state of Madhya Pradesh. Many of them were overqualified - aspirants, according to one report, included post-graduates, engineers, MBAs and people like Maurya, who is preparing for a judge's exam, according to a BBC report. "The situation is such that sometimes there is no money to buy books. So I thought I will get some work [here],"...

January 7, 2022
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07Jan

UK. FTSE 350 DB pension deficit falls by £28bn; ‘looming risks’ ahead

The aggregate accounting deficit of FTSE 350 companies’ defined benefit (DB) pension schemes fell by £28bn during December, ending the year at £76bn, according to Mercer's latest Pensions Risk Survey. It revealed that liability values fell from from £962bn to £913bn during the month, although asset values also declined, from £858bn to £837bn. However, whilst the deficit had fallen compared to November, it had increased year-on-year, with an aggregate deficit of £70bn recorded at the end of 2020 and of £41bn...

January 7, 2022
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06Jan

UK pension risk settlements to see volumes of over £45bn in 2021: Aon

Aon expects the UK pension risk settlement market to see volumes of over £45 billion reported for full-year 2021, making it the third year in a row that it has reached this level. Compared with recent years, the market in the first half of 2021 was relatively subdued with £7.7 billion of bulk annuity deals completed. However, the pace then accelerated in the next six months and Aon expects that there will be close to £30 billion of bulk annuity deals...

January 6, 2022
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