admin, Author at Pension Policy International

30DecDecember 30, 2017

The Household Savings Paradox

By Tobias Meyll (University of Giessen - Department of Financial Services), Thomas Pauls (Goethe University Frankfurt) & Andreas Walter (University of Giessen - Department of Financial Service) Using representative data from Germany, we reveal that more than 27.3% of the population not only restrains from participating in the stock market but also refuse to invest in contractual savings and retirement products. In fact, we find that these households rely on deposits only - an investment strategy usually related to negligible...

December 30, 2017

Articles, Investing, Labor Market, Pension design2017, Behavior, Financial Education, Financial Literacy, Investing

30DecDecember 30, 2017

Reconsidering Revenue Sharing: Why Retirement Plan Sponsors Should Consider Breaking the Link between Investment and Plan Costs

By Marc Fandetti (P-Solve) Revenue sharing, the part (or “share”) of an investment manager’s expense that can be used to pay retirement plan costs, remains a common practice among defined contribution (DC) plan sponsors. This article looks at the reasons why revenue sharing arrangements should be reconsidered in light of increased legal scrutiny of the reasonableness of fees and the spirit of transparency motivating recently required disclosures to plan sponsors and participants. (more…)

December 30, 2017

Articles, Investing2017, Defined Contribution, Investing, Management

30DecDecember 30, 2017

How to Invest and Spend Wealth in Retirement? A Utility-Based Analysis

By Servaas van Bilsen (University of Amsterdam), A. Lans Bovenberg (Tilburg University - Center for Economic Research (CentER); Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute for Economic Research)) & Roger J. A. Laeven (University of Amsterdam - Amsterdam School of Economics) This paper explores the optimal consumption and investment behavior of a retiree who derives utility from the ratio between consumption and an endogenous habit. By developing a non-trivial linearization to the budget...

December 30, 2017

Articles, Investing, Savings2017, Labor Market, Replacement Rate, Risk

29DecDecember 29, 2017

Envejecimiento, reto para sistemas de pensiones en América Latina

El incremento de la población que tiene 60 o más años de edad, será uno de los principales retos que deberán abordar los sistemas de pensiones en América Latina (AL) para evitar que se vuelvan una fuerte presión en sus finanzas públicas, indicó la Comisión Económica para América Latina y el Caribe (Cepal). “Es necesario desarrollar mecanismos para fortalecer la sostenibilidad financiera de los sistemas de pensiones mediante políticas fiscales que tengan en cuenta los efectos del envejecimiento poblacional”, expone...

December 29, 2017

NoticiasLatinoamérica

29DecDecember 29, 2017

Los planes de pensiones de empresa en España: pocos, mal financiados y nada incentivados

Son la clave sobre la que se asientan algunos de los sistemas de pensiones más sólidos del mundo. Por ejemplo, el holandés o el danés, tal y como explicábamos en Libre Mercado hace unas semanas. En España, el País Vasco es la única comunidad autónoma en la que están desarrollados. Sin embargo, en el resto del país apenas tienen presencia. Los planes de pensiones colectivos a través de las empresas no consiguen un hueco ni en el debate público ni en la legislación. La discusión...

December 29, 2017

NoticiasEspaña

29DecDecember 29, 2017

Perú. SBS plantea ampliar alternativas de inversión de fondos de AFP

La Superintendencia de Banca, Seguros y AFP (SBS) prepublicó una norma que propone establecer modificaciones al marco de tratamiento de inversiones de los fondos que administran las AFP tanto en el mercado local como en los mercados internacionales. En el sistema privado de pensiones operan actualmente cuatro AFP (Habitat, Integra, Prima y Profuturo), que a noviembre administraban en conjunto fondos por S/154.829 millones de más 6,5 millones de aportantes. Del monto total administrado, el 56,6% ha sido destinado a inversiones locales mientras que el...

December 29, 2017

NoticiasPerú

29DecDecember 29, 2017

Chile pension watchdog approves risk-based supervision model

Chile's pension watchdog SP has approved via a resolution changes to its risk-based supervision framework for private pension fund managers (AFPs) and unemployment insurance administrator AFC. The changes had been put out to public consultation in November. Comments from seven entities were received, according to SP. Coming into force on May 1 next year, the changes follow the enactment of a new law last year which grants SP specific powers regarding risk analysis and supervision of risk management. Under the legislation, SP is authorized...

December 29, 2017

News, SliderChile

29DecDecember 29, 2017

UK to sink to the bottom of OECD wage growth index in 2018

Britain is set to have the worst wage growth of any wealthy nation next year, ranking behind Italy, Greece and Hungary, according to analysis by the TUC. The UK is forecast to come bottom from 32 Organisation for Economic Co-operation and Development wealthy nations for wage performance in 2018, according to the study of OECD figures by the unions’ umbrella group. British workers are expected to see their earnings decrease by 0.7% in 2018 when taking account of inflation, which has...

December 29, 2017

News, SliderUK

29DecDecember 29, 2017

US. Blackstone & Others Sued for Faulty Investment Advice to KRS

KKR & Co. L.P. KKR , The Blackstone Group L.P. BX and PAAMCO along with their founders have been accused of violating their fiduciary duty to the Kentucky Retirement Systems pension fund by giving the fund wrong investment advice. Recently, a few Kentucky state workers filed a lawsuit against the three investment groups in Franklin Circuit Court. The lawsuit seeks monetary damages from these firms for losses incurred by KRS in investments recommended by them. The defendants also include some former or current KRS board members, and,...

December 29, 2017

News, SliderUS

28DecDecember 28, 2017

Chile. Super de Pensiones aprueba modelo de supervisión basada en riesgos para las AFP y AFC

La Superintendencia de Pensiones emitió la Resolución Nº 102 en la que aprueba el modelo de supervisión basada en riesgos y que es aplicable a las Administradoras de Fondos de Pensiones (AFP) y a la Administradora de Fondos de Cesantía (AFC). Según la Superintendencia, dicho mecanismo de fiscalización tiene como objetivo que las entidades puedan “identificar, monitorear, controlar y mitigar los riesgos más críticos que enfrentan, incentivándolas a gestionar los que puedan amenazar y afectar el servicio que prestan a los afiliados...

December 28, 2017

NoticiasChile

December 2017