December 2022
23Dec

Government Exempt Worker’s Pensions From Domestic Debt Exchange Program After Given A 7- Day Ultimatum

Government has succumbed to pressure from Organised Labour by exempting workers’ pensions from the recently launched Domestic Debt Exchange Programme. After a crunch meeting with Organised Labour on Thursday, December 22, the Minister of Finance, Ken Ofori-Atta, gave utmost assurances that pensions of all workers will be exempt from the Programme. The Programme, launched on Monday, December 5 and expected to take off next month, was announced as part of austerity measures to save the economy from collapse. By the Programme, government...

December 23, 2022
News,
Read more...
23Dec

ILO warns: 34.5% of over 65s have no income in Latin America and the Caribbean

The International Labor Organization (ILO) on Thursday warned about elderly people's issues in Latin America regarding labor income and pensions. The report indicates that 34.5 percent of people over 65 years of age in that region do not receive wages or pensions, a higher percentage than before the Covid-19 pandemic, when this indicator was at 31.9 percent. This is one of the main conclusions of the report on social protection in Latin America and the Caribbean, drafted by ILO. According to the...

December 23, 2022
News, , ,
Read more...
23Dec

Slovakia: Pension reforms — auto-enrolment and parental pensions

Employer Action Code: Act The government has approved amendments to the Social Insurance Law, with the primary aims of 1) increasing retirement savings in employees’ social security defined contribution (DC) privately managed accounts (i.e., the “second pillar”) through automatic enrolment and the use of default life cycle index (rather than bond-based guaranteed) investment funds, and 2) improving the sustainability of the social security defined benefit (DB) retirement program (i.e., the “first pillar”). The changes are effective January 1, 2023. Key details Changes...

December 23, 2022
News,
Read more...
23Dec

Finnish pension fund manager Varma to monitor human rights impact

Varma Mutual Pension Insurance Co., Helsinki, said Thursday that it will incorporate human rights as sustainability risks in its investments, operations and supply chain. Varma, which managed €56.4 billion ($54.9 billion) at the end of September, said in a news release that after assessing the human rights risks and impacts of its operations, it established principles for human rights and a commitment to address violations that could impact investments. "Human rights have become increasingly important in the past few years. Russia's...

December 23, 2022
News,
Read more...
23Dec

Gen Zers Look Forward to Early Retirement

What You Need to Know Results from a study show that members of Generation Z expect to retire early. The study also found that most Gen Zers have had or expect to have a successful career. Despite this, 44% of Gen Z respondents described their mental health as weak or very weak. Members of Generation Z, which includes the youngest adults in the U.S., have significantly improved their financial well-being and expect to retire before they reach 60, way ahead of their older...

December 23, 2022
News,
Read more...
22Dec

El Salvador. Trabajadores informales que no tienen derecho a pensión pagarán aumento

No hay una justicia “distributiva” en el pago del incremento del 30% de las pensiones con la nueva ley, afirma el economista Rafael Lemus. Personas que trabajan por cuenta propia, que no pueden aspirar a una pensión, cargarán con sus impuestos parte del costo. Tuvieron el tiempo suficiente y la correlación legislativa para hacer una verdadera reforma integral para las pensiones que hiciera justicia con las personas que aportan con sus impuestos el pago de las mismas y que ahora...

December 22, 2022
Noticias, Noticias, ,
Read more...
22Dec

Cuáles son los cambios que la propuesta Secure 2.0 propone a las reglas de jubilación en EE.UU.

El paquete de reformas con nuevas reglas para la jubilación conocido como Secure 2.0 facilitaría a los estadounidenses acumular ahorros para el retiro y también reducir el costo al momento de retirarlos Los estadounidenses que buscan retirarse podrían tener mejores condiciones de ahorro y de acceso a su dinero, si un paquete de cambios en las reglas de jubilación es aprobado esta semana en el Congreso. El paquete de nuevas reglas se conoce como Secure 2.0 y plantea siete cambios básicos...

December 22, 2022
Noticias, Noticias, ,
Read more...
22Dec

Colombia. Asofondos aseguró que el envejecimiento de la población reduce los recursos para financiar las pensiones

El presidente de la entidad, Santiago Montenegro, explicó que si bien los sistemas de ahorro también se ven afectados por el envejecimiento, en estos la plata crece en el tiempo En medio de ambiente de sana e intensa discusión se desarrolló la segunda reunión de la comisión para la reforma pensional en las instalaciones del Ministerio de trabajo. El tema central de la reunión fue la transición demográfica que experimenta Colombia y todos los países del mundo. A esta asistieron representantes...

December 22, 2022
Noticias, Noticias, ,
Read more...
22Dec

How schemes can enjoy the blooming of biodiversity bonds

Analysis: With the world’s nations reaching a historic agreement to preserve global biodiversity at COP15 in Montreal, attention is inevitably turning to how businesses can uphold the commitment to protect 30 per cent of the planet’s land and sea. Financing biodiversity projects has long been a sticking point for institutions. The International Finance Corporation describes a “lack of guidance in the market on criteria for projects eligible for this kind of financing”, resulting in a “gap” between investors’ ambitions and...

December 22, 2022
News,
Read more...
22Dec

New FCA nudges for better long-term outcomes in non-workplace pensions

The UK’s Financial Conduct Authority (FCA) has published new rules for providers of non-workplace pensions. The intervention was prompted by FCA findings that suggested that, like in defined contribution workplace pensions, the non-workplace pension sector suffered from low consumer engagement combined with complex and confusing products and charges. The regulator said the issue had caused a lack of competitive pressure to drive better value for consumers. It also found that non‑advised customers often may end up investing in products that...

December 22, 2022
News,
Read more...