March 2018

México. Inician auditoría por posible desvío de fondos del Pensionissste

El Órgano Interno de Control (OIC) del Issste inició una auditoría sobre la inversión que hizo el Fondo Nacional de Pensiones de los Trabajadores al Servicio del Estado (Pensionissste) en acciones de la empresa ICA, en agosto de 2015 y, “en caso de que ésta reflejara alguna anomalía, se fincará responsabilidad, incluso penal, a quien resulte responsable”. A través de un comunicado, el instituto informó que “se seguirán las instancias legales respectivas, a fin de que el patrimonio de los...

Chile. Gobierno se abre a introducir competencia a las AFP en administración del 10% de cotización

Por primera vez el gobierno manifestó ayer estar abierto a la posibilidad de introducir competencia en la administración del 10% de cotización obligatoria que hoy manejan las Administradoras de Fondos de Pensiones (AFP), iniciativa que podría ser considerada en la reforma que el Presidente Sebastián Piñera planea ingresar al Congreso antes de agosto.“Creemos que tiene que haber más competencia en la administración de fondos previsionales, tanto en las cotizaciones adicionales como las que ya existen, porque cuando hay más...

España. Los planes de pensiones son más caros y menos rentables que los fondos de inversión

Los planes de pensiones se han colado en el debate público en este inicio de 2018. Tanto por las medidas del Ministerio de Economía para aumentar su atractivo como por los recortes en términos reales (descontando la inflación) de la pensión pública. Sin embargo, aún representan únicamente el 5% del patrimonio financiero de las familias. El Gobierno ha tomado medidas para incentivar el ahorro en estos productos, que sirven para canalizar ahorro que complemente a la pensión pública. El PP...

México. Reprobadas, 60% de las afores en atención a clientes

De las 11 administradoras de fondos para el retiro (afores) que se tenían en el mercado en 2017, seis obtuvieron una calificación poco satisfactoria en los servicios que ofrecieron a 20.8 millones de trabajadores que ahorran para su pensión. De acuerdo con el indicador +MAS AFORE que creó la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), ninguna afore obtuvo una calificación de cinco estrellas que significa un servicio “muy bueno”. Leer Más: El Economista

US. No Pension? You Can ‘Pensionize’ Your Savings

After years of working, many people face the challenge of converting their savings into a sustainable flow of income in retirement. Some researchers think they have a practical solution: Workers should take steps to “pensionize” their nest eggs. The transition from saving to spending was once relatively simple, at least for retirees with traditional pensions offering predictable payments. But such plans are dwindling — in 2017, only 16 percent of Fortune 500 companies offered a defined benefit plan (traditional or...

German pensions to rise by more than 3 percent this year

The German government says pensions will rise by more than 3 percent this year as a result of higher wages in Europe's biggest economy, an increase that is well above the country's inflation rate. The Labor Ministry said Tuesday that pensions will increase by 3.22 percent in the former West Germany on July 1 and 3.37 percent in the formerly communist east. Germany's annual inflation rate was 1.4 percent in February. Rises in German pensions are linked to wage developments. The...

Japanese pension data entry outsourced to Chinese firm

An information processing firm in Tokyo assigned to process the personal data of around 5 million pensioners outsourced part of the task to a Chinese company — in violation of a contract that prohibited subcontracts, according to the Japan Pension Service. The outsourcing fell under the spotlight after it was revealed that around 1.3 million people received lower pension benefits in February than they were entitled to as income tax breaks were not adequately reflected. The pension management body, which has...

UK. The Battle Over Automatic Retirement Plan Enrollment

With the well-publicized retirement crisis looming, one might assume that any solution that leads to increased retirement savings would be welcomed with open arms. —Not so fast. Industry observers often set the amount of their pay that plan participants should strive to contribute in order to ensure a secure retirement at 10 percent. Fewer than 10 percent of employees meet that threshold. According to recent research by Cerulli, employees whose companies automatically enroll them in retirement plans are far more likely...

Global fund managers eye trillion dollar pension business in China

Global asset managers are lobbying Beijing to offer tax benefits and other incentives to entice China’s aging population to invest in mutual funds for their retirement, as funds eye a multi-trillion dollar opportunity in commercial pensions. Their hopes for a bigger role in China’s pension market and its reform process received a boost this month when regulators published guidelines for the introduction of Western-style pension target funds. Although such fund-of-fund (FoF) pension products are popular in mature markets like the United...

UK. How British Savers Finance Putin’s Russia

The quaint English city of Salisbury, known for its medieval streets, picturesque cathedral and bus tours to Stonehenge, has found itself on the map of international intrigue after a former Russian spy and his daughter were found poisoned on a park bench. Yet there’s a link with Russia that predates the sinister events that unfolded this month. It places Salisbury at the intersection of espionage and finance and exposes the scale of the challenge the U.K. faces if it wants...