July 2020

29Jul

Latin America private pension systems ‘constantly under political threat’: FIAP

A private pension fund industry chief said the specter of political interference is constantly circling the sector in Latin America. Decisions correspond more to ideological bias of “certain political groups” than the advice of pension experts, a webcast hosted by industry organization the International Federation of Pension Funds Administrators (FIAP) was told. “The private pension systems in our region are constantly under political threat,” said FIAP chairman Guillermo Arthur Errázuriz. He cited the example of Chile, where some quarters...

July 29, 2020
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29Jul

Chilean president reshuffles cabinet over pension reform

Chilean President Sebastian Pinera reshuffled his cabinet Tuesday, replacing interior, foreign, defense and several other ministers following the defeat of a pension reform bill. Victor Perez was appointed interior minister, replacing Gonzalo Blumel, while Andres Allamand was appointed foreign minister and Mario Desbordes took over the post of defense minister. The reshuffle came after the congress passed a controversial pension reform bill last week, allowing Chileans to withdraw 10 percent of their pensions to help overcome the difficulties brought...

July 29, 2020
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24Jul

Changes under Mexico’s planned pension reform

Mexican workers will see a major boost to their retirement benefits after the government and private sector ironed out the details of a pension reform that lawmakers are expected to pass into law by early 2021. Following are key changes and aspects of the planned reform according to the Mexican finance ministry: - Retirement benefits for the average worker are forecast to increase by 40%. - Under the plan, total contributions will rise from 6.5% to 15% of salary...

July 24, 2020
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23Jul

Mexico Unveils Pension Reform Bill that will Boost Worker Pensions

Mexican workers will get a major boost in their retirement benefits after the government and private sector ironed out the details of a pension reform that is expected to become law by early next year, the Finance Ministry said on Wednesday. Read also Changes under Mexico’s planned pension reform The plan presented by Finance Minister Arturo Herrera sees pensions for the average worker rising some 40%, even as worker contributions to the pension system remain unchanged. "This is a big,...

July 23, 2020
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23Jul

Chile’s Senate approves pension reform law

Chile's Senate on Wednesday approved a measure allowing citizens to withdraw up to 10 percent of their pension funds to help mitigate the effects of the coronavirus pandemic. Read also COVID-19 Relief Packages Help Fuel Ultra-Low Interest Rates The bill, approved by a 29-13 vote with one abstention, will now return to the lower house Chamber of Deputies where it has already been given the green light for a final and decisive vote. Read also Covid-19 May Destroy Chile’s Iconic...

July 23, 2020
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10Jul

Age with Care: Long-term Care in Latin America and the Caribbean

By Gianluca Cafagna, Natalia Aranco, Pablo Ibarrarán, María Laura Oliveri, Nadin Medellin, Marco Stampini In Latin America and the Caribbean, more than 8 million older people are unable to independently complete at least one basic activity of daily living, such as eating, bathing or showering, or getting in and out of bed. This situation, called care dependence, affects 12% of people over age 60 and nearly 27% of people over age 80 in the region. The demand for long-term...

July 10, 2020
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03Jul

Study on Shock-Responsive Social Protection in Latin America and the Caribbean – Guyana case study

By Sarah Bailey, Francesca Ciardi In the Caribbean and globally, links are being made between social protection and disaster risk management (DRM). Social protection programmes that provide assistance to households, and the systems that underpin these programmes, may have a role to play in preparing for, responding to and mitigating the impacts of shocks such as cyclones, floods, droughts and political and economic crises. This role for social protection goes beyond its core function of addressing the risks and...

July 3, 2020
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June 2020
05Jun

Exporting Financial Services in Latin America and the Caribbean

By Adrian Gonzalez, Carolina Lopez-Rocha, Rongpeng Yang, Marilyne Youbi, Inés Zabalbeitia Múgica According to the World Trade Organization (WTO), trade in services has become the most dynamic segment of world trade, growing more quickly than trade in goods. While travel remains the most exported service both worldwide and in Latin America and the Caribbean (LAC), other services are becoming relevant for both developed and developing economies. Among them, financial services is one of the most important categories in terms...

June 5, 2020
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May 2020
29May

Allianz pension report 2020 the silver swan

By Allianz Even before the Covid-19 outbreak, societies were becoming more and more fragmented over several social fault lines: culture, education, wealth, place of residence. Many of these overlap: The cosmopolitan, well-educated, wealthy people live in (big) cities, whereas more conservative, low-skilled workers tend to live in the periphery. There is, however, one important social fault line that cuts through all these identities: the generation gap. With demographic and climate change (and now the coronavirus pandemic), the generational...

May 29, 2020
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25May

Australia. Universal pension for all: Retirees call for tax and income reform

Every retiree would get at least a part pension under a plan being considered by seniors' groups amid concerns the coronavirus pandemic's effect on key income streams is leaving many older Australians cash poor and increasing the number living in poverty. Seniors organisations are pressing the Morrison government to look at a massive overhaul to the pension system that would also take into account possible changes to tax concessions, such as franking credits, as a way to pay for...

May 25, 2020
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