June 2018

25Jun

UK. EC2 Master fined £15,000 for not collecting or investing nearly £900,000 of pension contributions

The Pensions Regulator (TPR) has fined master trust pension scheme trustee EC2 Master, which holds assets for the Autoenrolment.co.uk master trust, £15,000 for failing to collect and invest £888,651.94 worth of pension contributions from 2,115 members. TPR found in its determination notice, published on Friday 22 June 2018, that EC2 Master did not ensure that the Autoenrolment.co.uk master trust scheme, which is run by Smart Pension, had a proper reporting system in place to comply with statutory requirements. This meant that...

June 25, 2018
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25Jun

Nigeria. PenCom allows pension contributors to pick investment options

Beginning from July, workers under the Contributory Pension Scheme will be allowed to go to their Pension Fund Administrators to choose how they want the money in their Retirement Savings Accounts to be invested so as to gain higher interest based on the new multi-fund structure, NIKE POPOOLA writes Following the enactment of the Pension Reform Act, 2014, the National Pension Commission amended the investment regulation in April 2017, largely to incorporate the new provisions in the law as well...

June 25, 2018
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25Jun

Aging and Disability: Beyond Stereotypes to Inclusion: Proceedings of a Workshop

By Engineering and Medicine National Academies of Sciences Many different groups of people are subject to stereotypes. Positive stereotypes (e.g., “older and wiser”) may provide a benefit to the relevant groups. However, negative stereotypes of aging and of disability continue to persist and, in some cases, remain socially acceptable. Research has shown that when exposed to negative images of aging, older persons demonstrate poor physical and cognitive performance and function, while those who are exposed to positive images of aging...

June 25, 2018
Aging, Books, Labor Market,
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25Jun

The Effects of Means-Tested, Noncontributory Pensions on Poverty and Well-Being: Evidence from the Chilean Pension Reforms

By Italo Garcia (RAND Corporation) & Andres Otero (Independent) Chile initiated in 1981 a privately managed, individual-account pension system that inspired similar reforms in many Latin American countries, and that has been considered as a possible model for Social Security in the United States. After 30 years in place, the Chilean pension system has been criticized for replicating existing inequalities in labor markets and increasing the risk of old-age poverty; for achieving lower levels of coverage; and for providing low...

June 25, 2018
Articles, Pension design, System Sustainability, , ,
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25Jun

Retiring Employees, Unretired Debt: The Surprising Hidden Cost of Federal Employee Pensions

By William B. P. Robson (C.D. Howe Institute) & Alexandre Laurin (C.D. Howe Institute) Ottawa provides its employees with defined-benefit pensions that promise relatively generous benefits to a large current and former workforce. Being largely unfunded, these plans require future taxpayer support. They also create taxpayer risk because the economic value of the benefits they will provide can fluctuate by tens of billions of dollars annually. Current accounting practices understate this burden and the risks these plans create for taxpayers...

June 25, 2018
Articles, Management, System Sustainability, ,
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25Jun

Saving Preferences After Retirement

By Jennifer Alonso-García (University of New South Wales (UNSW) - ARC Centre of Excellence in Population Ageing Research (CEPAR)), Hazel Bateman (UNSW - School of Actuarial Studies, Centre for Pensions and Superannuation), Johan Bonekamp (Tilburg University - Department of Econometrics & Operations Research), Arthur van Soest (Tilburg University) & Ralph Stevens (CPB Netherlands Bureau of Economic Policy Analysis; CEPAR) We investigate the importance of rational and psychological motives for choosing a saving and consumption trajectory after retirement. Using an online...

June 25, 2018
Articles, Savings, ,
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22Jun

México. Coppel planearía OPI de 2 mil mdd

La familia Coppel contrató a Morgan Stanley y Bank of America para administrar una Oferta Pública Inicial (OPI) de acciones de su conglomerado Grupo Coppel, según personas familiarizadas con el tema. Coppel, que opera grandes tiendas de departamentos, un banco y un fondo de pensiones (Afore) en México, busca recaudar hasta dos mil millones de dólares, dijeron las personas, quienes solicitaron no ser identificadas porque los planes no son públicos. La operación representaría la OPI mexicana más grande desde que...

June 22, 2018
Noticias
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22Jun

México. Afore Azteca será la prestadora de servicios del SAR

Afore Azteca anunció que la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) la designó como Prestadora de Servicios del Sistema de Ahorro para el Retiro (SAR) por un periodo de tres años, por lo que el número de cuentas que administra aumentará en más de 300 por ciento. La subsidiaria de Grupo Elektra informó en un comunicado que, de acuerdo con lo establecido en el artículo 76 de la Ley del Sistema de Ahorro para el Retiro,...

June 22, 2018
Noticias
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22Jun

Ghana. Workers Advised To Invest In Tier-3 Pension

Chief Executive Officer (CEO) of NBC Ghana Trust, William Asiedu Yeboah, has charged Ghanaian employees to invest in Ghana’s Tier 3 pension scheme to secure their future. “The surest way to a happy old age is to save towards retirement, so workers, both in the formal and informal sectors, must invest in the Tier-3 pension scheme, Mr Yeboah added. In an interview recently in Accra, the CEO stated that the introduction of the two new pension tiers – Tiers 2 and...

June 22, 2018
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