July 2018

10Jul

India. CAG report points to irregular sanction of pensions

A report of the Comptroller and Auditor General (CAG) of India tabled in the Assembly on Monday pointed out various defects in the implementation of pension schemes and brought out cases in which ineligible candidates were given pension, while some eligible candidates were not considered for the scheme. “Despite a 100% verification of pension eligibility in 2014, audit came across 118 ineligible beneficiaries receiving pension and 934 eligible beneficiaries not receiving pension, indicating the need for continuing periodical verifications,” the...

July 10, 2018
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10Jul

UK. Govt mulls flat-rate pension tax relief

The Treasury is considering whether to introduce a flat rate of pension tax relief to help fund the National Health Service. According to The Times, the Treasury has started to investigate the flat-rate proposal and says it could raise an additional £4bn in revenues. In June, the government promised to increase spending on the NHS by £20bn a year and a flat rate could help chancellor Philip Hammond raise money without breaching fiscal rules. Read More: Money Marketing

July 10, 2018
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10Jul

Greece. Government exploring ways to suspend pension cuts

The government is hoping that surpluses at the Single Social Security Entity (EFKA) will allow the non-implementation of pre-legislated pension cuts on January 1 next year. With the latest forecasts suggesting that the EFKA surplus could reach 1.3 billion euros by the end of the year, Labor Minister Effie Achtsioglou told Skai TV on Monday she did not rule out that the measure may be suspended, saying that the government will examine the issue after August 20, when Greece leaves...

July 10, 2018
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09Jul

José Manuel Silva y la entrada de las AFP a activos alternativos: “En Chile va a entrar plata”

José Manuel Silva es socio de LarrainVial y director de inversiones de LarrainVial Asset Management. Hace dos semanas fue el anfitrión del seminario anual que organiza la gestora de activos para inversionistas. Aunque el día elegido no lo acompañó: los mercados tuvieron uno de sus peores días del año y con varios nubarrones en el horizonte. Eso, sin embargo, no quita el optimismo. En una larga entrevista en La Mesa de El Mostrador TV, Silva dice que estamos viviendo un...

July 9, 2018
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09Jul

España. Valerio: “Estoy convencida de que los bancos serán solidarios con el sistema público de pensiones”

La ministra de Trabajo, Migraciones y Seguridad Social, Magdalena Valerio, se ha mostrado este lunes "convencida" de que los bancos serán "solidarios" con el sistema público de pensiones y no repercutirán en los ciudadanos el llamado impuesto a la banca que plantea el PSOE para financiar las pensiones, en caso de que éste finalmente se implante. Valerio, en declaraciones a la cadena Cope recogidas por Europa Press, espera esa solidaridad, entre otras cosas, porque los bancos tienen co ... Leer...

July 9, 2018
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09Jul

Bolivia. Reforma de pensiones no mejoró poder adquisitivo

El Centro de Estudios para el Desarrollo Laboral y Agrario (Cedla) realizó un análisis de la reforma a la Ley de Pensiones (065) que se realizó en 2017, y concluyó que el aumento en sus escalas no sirvió para mejorar el poder adquisitivo de la renta solidaria de jubilación. La explicación se encuentra en la publicación denominada Pensión Solidaria de Vejez: Desigualdad y Pérdida de Poder Adquisitivo. De acuerdo con el texto, la reforma de 2017 incrementó los límites de...

July 9, 2018
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09Jul

Russia. Vladimir Putin’s popularity dips amid retirement age proposal

President Vladimir Putin's popularity has taken a hit amid a controversial proposal to raise Russia's retirement age. The plan was unveiled against the backdrop of host country Russia’s exciting run to the quarterfinals of soccer's World Cup, with some critics accusing the Kremlin of trying to bury the news by announcing it during the tournament. Prime Minister Dmitry Medvedev said the government wants to raise the retirement age for men up to 65 from 60 by 2028, and for women up...

July 9, 2018
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09Jul

US. Social Security will survive, but will it be enough?

Many Americans have a curious attitude toward Social Security, presuming the program one day will disappear or get significantly scaled back, but not doing much to prepare for it by saving and investing more. The skepticism about Social Security's future shows up in one consumer poll after the other. For example, just 45 percent of current workers say they are very or somewhat confident that Social Security will continue to provide retirement benefits of roughly equal value to benefits currently...

July 9, 2018
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09Jul

Bahrain to host regional pensions conference

Supreme Council for Health (SCH)’s President Lt-General Dr. Shaikh Mohammed bin Abdullah Al Khalifa, the Chairman of Al Hikma Retirees Society, today received a delegation from Takaud Savings & Pensions headed by the company’s chairman Samer Khanachet who delivered invitation to him to attend the Middle East and North Africa (MENA) Pensions Conference 2018. The conference is slated to be held on October 31 under the patronage of the Central Bank of Bahrain (CBB). Lt-General Dr. Shaikh Mohammed expressed his gratitude...

July 9, 2018
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09Jul

Japan’s pension fund posts best returns in three years

The world’s biggest pension fund posted its best annual gain in three years despite a loss during the final quarter of its business calendar. Japan’s Government Pension Investment Fund returned 6.9 per cent, or 10.1 trillion yen ($91 billion), in the year ended March 31, with assets totaling 156.4 trillion yen, it said in Tokyo. Domestic stocks were the fund’s best performing investment, adding 5.5 trillion yen, followed by a 3.5 trillion yen increase in overseas shares. Domestic bonds gained...

July 9, 2018
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