August 2024
06Aug

GPSSA launches campaign to boost proactive financial planning

The General Pension and Social Security Authority (GPSSA) has launched a new media campaign under the slogan "Plan – Save – Invest" as part of its "Proactive Financial Planning" project. The campaign aims to promote awareness of proactive financial planning as part of the UAE government's transformative "We the UAE 2031" initiative, which seeks to position the UAE as one of the world's most prosperous countries within the next decade. Throughout the campaign, the GPSSA aims to boost financial literacy by...

August 6, 2024
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06Aug

South Africa’s two-pot retirement threat

South Africa has a dismal savings rate, with more money flowing out of retirement vehicles than being put in—and the Reserve Bank warns there is a slight chance the new two-pot retirement system will exacerbate the problem. According to the latest 10X Investments Retirement Reality Report 2023, only 6% of South Africans are on track to retire comfortably. A comfortable retirement means being able to afford 70% of your pre-retirement income during retirement. The report is based on findings from the 2023...

August 6, 2024
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06Aug

UK. 170,000 retirees living abroad have had their state pensions frozen since 2003

Around 170,000 retirees living across the world have had their state pensions frozen without an increase for at least 20 years, data obtained by i show. State pensioners living in the UK see their pension increased each year by the triple lock policy – which sees pensions go up in line with inflation, average wage growth or 2.5 per cent (whichever is highest) – but this does not happen for those living overseas unless they are living in a country which has a reciprocal agreement with the UK. It means British pensioners living...

August 6, 2024
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06Aug

Labour should increase pension contributions to get the UK economy going again

In the first few weeks in office Labour has announced a number of different policies that Rachel Reeves hopes will get the British economy firing on all cylinders again. One policy that has received less attention – a review into pension adequacy – suggests that important changes might be on the way, changes which would support the Chancellor’s ambition to create a high investment economy. The big question for this review will be whether auto-enrolment pension contributions should be increased. Currently, the minimum...

August 6, 2024
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06Aug

UK. Retirees seeking guaranteed income from pensions warned annuity rates set to fall

Now might be a good time buy an annuity for those savers looking for the safety of some guaranteed income in retirement – as annuity rates look set to fall. After the Bank of England cut the benchmark interest rate on 1 August, bets have snowballed that global central banks will have to slash rates as jobs market and recession fears in the US have suddenly mounted. Henrietta Grimston, Financial Planning Director at wealth management firm Evelyn Partners,observes: ‘That is sending...

August 6, 2024
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05Aug

Chile. Gobierno reanuda intentos para destrabar reforma de pensiones: este miércoles será clave

El Gobierno hace un último esfuerzo para destrabar la reforma de pensiones y dar por finalizada más de una década de fracasos, poniendo la pelota del lado de los partidos de la oposición. Este miércoles 31 de julio se vencía el plazo que había puesto el Ejecutivo para que se votara la idea de legislar, pero en la derecha se opusieron. Una nueva oportunidad para avanzar en la reforma se presentará el próximo miércoles. La ministra del Trabajo y Previsión...

August 5, 2024
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05Aug

Colombia. ¿Cuál será el papel de los fondos de pensiones del país, luego de la reforma? Esto explica Miguel Largacha, presidente de Porvenir

Tanto Colpensiones como los fondos privados tienen grandes retos y deben prepararse para lo que será la puesta en marcha de la ley de Reforma Pensional en julio del 2025. Miguel Largacha Martínez, presidente del Fondo de Pensiones y Cesantías Porvenir, le explicó a El País cuáles son estos desafíos y en qué condiciones quedaron estas administradoras de recursos con la nueva ley. ¿Cómo quedan los fondos después de avalada la reforma pensional? Lo primero que quiero decir es que desde hace...

August 5, 2024
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05Aug

Mexico. BIVA pide que afores puedan invertir en mercado de valores

La directora de la Bolsa Institucional de Valores, María Ariza, se pronunció porque las administradoras de fondo para el retiro, puedan tener la posibilidad de invertir en diversos activos del mercado de valores, señaló que ello traería mejores oportunidades de rendimiento para uno de los mayores inversionistas que tiene el país, al tiempo que abonaría a la generación y crecimiento de las empresas y el empleo en nuestro país “Yo creo que las Afores son el inversionista más relevante en...

August 5, 2024
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05Aug

These are the countries with the lowest retirement ages in the world

China has made headlines by announcing it intends to raise its retirement age, which has long been the lowest in the world. Australia may not be one of them, but some countries around the world still have incredibly low retirement ages. Interestingly, several have different age specifications for men and women, Read on to see the nations with some of the lowest retirement ages in the world. Australia For reference, Australia has one of the highest retirement ages in the world, at age 67.France Last...

August 5, 2024
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05Aug

Almost half of those who retire at 65 could run out of money

The crisis is heightened for those without access to a 401(k), new research predicts Almost half of American households will run short of money in retirement if they stop working at 65, new research predicts, raising concerns about the financial health of the country as people live longer and have greater responsibility for their own retirement savings. That research, from the Morningstar Center for Retirement & Policy Studies, came from using a new simulation tool that looks at individual characteristics, healthcare...

August 5, 2024
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