June 2018

Bolivia. Solo el 8,8% de los aportantes a las AFP son independientes

Según datos de la APS, a diciembre de 2017, la distribución departamental de los asegurados, tanto dependientes como independientes en las dos administradoras de pensiones, es la siguiente. La Paz “De mis ventas aporto cada mes, sin fallar. Sé que no recibiré mucho, pero prefiero eso a extender la mano”, dice Estela Rhu. La artesana, quien aporta desde 2013 voluntariamente, es parte del 8,88% de los asegurados independientes a diciembre de 2017. Datos de la Autoridad de Fiscalización y Control de Pensiones...

México. Profuturo transforma la innovación digital en asesoría para sus clientes

En Profuturo tenemos claro que para lograr nuestra misión, debemos asesorar constantemente a nuestros clientes para que tomen las acciones necesarias que los lleven a mantener su calidad de vida en el retiro. Conscientes de que la transformación digital y el enfoque en el cliente son elementos que nos permiten mantenernos a la vanguardia en beneficio de nuestros clientes, Profuturo incorporó una herramienta que busca crear verdaderas experiencias, con contenidos originales, sencillos y accesibles. La más reciente innovación digital de Profuturo...

El Salvador. FMI sugiere subir en más de un año la edad de jubilación

La reforma de pensiones obliga a revisar la edad de retiro y si se decide por un aumento, no puede ser más de un año. El Fondo Monetario señala que el país debe considerar aumentos más ambiciosos y revisiones más frecuentes. El Fondo Monetario Internacional (FMI) recomendó a El Salvador aumentar en más de un año la edad de jubilación, que hoy en día es de 60 años para los hombres y 55 para las mujeres. Las edades de retiro no han...

Australia. Citizenship discount for migrant pensioners, widows scrapped

Migrant pensioners, veterans and widows who receive Centrelink payments will soon have to pay full price when applying for Australian citizenship after Home Affairs minister Peter Dutton removed a regulation that offered them a discounted price. Most people pay a $285 fee when they apply for citizenship, but disadvantaged pensioners and widows have long been granted a concession rate of $20 or $40. Mr Dutton lodged a legislative instrument on Thursday last week that removes the concession, effective from July 1....

US. Should We Continue To Count On Employers For Retirement Provision?

Yes, this is a question. It's not even a rhetorical question. It's something that I ask myself, and I invite readers to think about. We take the so-called "three-legged stool" a bit for granted, don't we? Employers historically provided pension benefits for their employees, in a time and a place when it made sense for them to do so, when they relied on those pensions to scoot aging employees out the door at a traditional normal or even early retirement...

Nigeria. Micro pension will create next phase of growth — Stanbic IBTC Pension boss

How will the proposed micro pension impact growth of the pension industry?  The proposed micro pension scheme is one initiative with great potential capable of landing the industry into its next phase of growth. Regardless of the inherent challenges, the micro pension scheme has the capability to deepen asset accumulation in Nigeria considering that 70 percent of Nigeria's working population operates in the informal sector. Read More: Vanguard Nigeria

The World’s Biggest Pension Fund Struggles With Sustainability

Japan’s Government Pension Investment Fund has nearly $1.5 trillion in assets and a legion of external asset managers running its portfolio. The GPIF sees itself as a “super-long-term investor” with the goal of a century or more of sustainable investment and outflows. Managing money for that long is a matter of stewardship, not just picking assets — and in the past few years, the GPIF has included environmental, social and governance factors as part of its stewardship responsibilities. For the...

Optimal Risk-Sharing in Pension Funds When Stock and Labor Markets are Co-Integrated

By Ilja Boelaars (University of Chicago) & Roel Mehlkopf (Tilburg University) A well established believe in the pension industry is that collective pension funds should take more stock market risk (compared to individual retirement accounts) since risk may be shared with future generations. We extend the OLG model of Gollier (2008) by adding labor income risk in the spirit of Benzoni, Collin-Dufresne, and Goldstein (2007) and show that this idea may be misguided. For the empirical range of parameter values...

Inheritances and Inequality across and within Generations

By Andrew Hood & Robert Joyce Today’s elderly have much more wealth to bequeath than their predecessors, primarily as the result of rising homeownership rates and rising house prices. At the same time, today’s young adults will find it harder to accumulate wealth of their own than previous generations did, due to the sharp fall in homeownership, the dramatic decline of defined benefit pensions in the private sector and the stagnation in household incomes. Together, these trends mean inherited wealth is...

Pension Markets in Focus

OECD Recent years have witnessed intense pension reform efforts in countries around the globe, often involving an increased use of funded pension programmes managed by the private sector. These funded arrangements are likely to play an increasingly important role in delivering retirement income in many countries and privately managed pension assets will play an increasing role in financial markets, notably as a source of long-term savings. This annual report, which now covers 85 countries, gives an overview of private pension systems worldwide and...