December 2022
05Dec

México. Concentran sólo tres Afores 57% de cuentas para el retiro

Azteca, Coppel y Citibanamex concentran 57 por ciento del total de las cuentas manejadas por las Administradoras de Fondos para el Retiro. Azteca maneja 17.1 millones de cuentas, Coppel 14.1 millones y Citibanamex 9.9 millones, lo que equivale a 24, 20 y 14 por ciento del total, respectivamente. Azteca lidera la participación desde 2018, de acuerdo con datos de la Comisión Nacional Bancaria y de Valores (CNBV). XXI Banorte es la cuarta Afore del mercado, con 8.5 millones de cuentas,...

December 5, 2022
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05Dec

Chile. Ministra Jara y reforma de pensiones: “Necesitamos pasar a un modelo distinto con mayor consenso social, el de las AFP se agotó”

La ministra del Trabajo, Jeannette Jara, habló sobre el debate que se lleva a cabo en el Congreso sobre la reforma de pensiones -impulsaba por el Gobierno del Presidente Gabriel Boric-. Al respecto, señaló que el proyecto representa más un desafío parlamentario, puesto que lo que está en juego son años de un modelo (AFP), que, a su juicio, se agotó y que esta propuesta representa "pasar a uno distinto y con mayor consenso social". Al profundizar sobre el...

December 5, 2022
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05Dec

Puerto Rico. Aprueban reglamento para el reclutamiento de pensionados en el Gobierno de Puerto Rico

El director ejecutivo de la Junta de Retiro del Gobierno de Puerto Rico, Luis Collazo Rodríguez, anunciaron hoy, la firma y aprobación del “Reglamento Conjunto para el Reclutamiento de Pensionados del Gobierno de Puerto Rico” al amparo de la Ley 53-2022, que faculta las normas que regirán el proceso de reclutamiento de los pensionados en el gobierno y la creación de un Registro de Pensionados Elegibles. Participaron también el director de la Oficina de Gerencia y Presupuesto (OGP), Juan Carlos...

December 5, 2022
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05Dec

Swedish pension funds invest in cryptocurrency

Swedish public pension funds have invested hundreds of millions of kronor in a cryptocurrency company that has lost 87 per cent of its share value, Swedish daily Dagens Nyheter (DN) reported on Saturday. Four public pension funds, which manage the pension money on behalf of the Swedish public, have invested more than SEK200 million (USD19 million) in Coinbase, a cryptocurrency trading company, according to the report. Details of how many shares have been bought and sold were not revealed. But DN...

December 5, 2022
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05Dec

Health Services Workers’ Union battles government over ‘haircut’ on pensions

The Health Services Workers’ Union (HSWU) has vowed to resist any attempt by the government to touch the Pensions of its members. The General Secretary of the HSWU, Franklin Owusu Ansah, at a press conference held on Sunday said “If the government finds it so important to do the debt restructuring, we will urge them to ring-fence the Pension Funds of workers. Workers of Ghana can’t continue suffering to the grave. Enough is enough!!” This comes on the back of a...

December 5, 2022
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05Dec

British government looks at pension rules to retain health workers

Britain's government is launching a consultation into how to amend pension rules for workers in the National Health Service to help retain more staff, at a time when the sector faces strikes over pay this month that could halt some procedures. The governing Conservative Party has long promised to sort out a health service which has struggled to recover after being stretched to its limits during the COVID-19 pandemic and now faces strikes by thousands of nurses and ambulance workers. "The...

December 5, 2022
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05Dec

Private Debt Funds Tap Australia’s $2.3 Trillion Pension Savings

After winning over some of the biggest retirement plans in the US, private credit managers have found new fertile ground for their investment pitch: Australia’s $2.3 trillion pension industry. Four of the top-10 pensions Down Under -- Australian Retirement Trust, HostPlus, UniSuper and Colonial First State -- are making significant increases to their private credit allocations, according to recent statements and interviews with Bloomberg News. AustralianSuper, the nation’s largest, is midway into a three-year push to triple its allocation. That’s music...

December 5, 2022
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02Dec

From Financial Development to Informality: A Causal Link

By Salvatore Capasso, Franziska Ohnsorge & Shu Yu Financial development reduces the cost of accessing external financing and thus incentivizes investment in higher-productivity projects that allow firms to expand to the scale needed to operate in the formal economy. It also encourages participants of the informal sector to join the formal sector to gain access to credit and financial services. This paper documents two findings. First, countries with less pervasive informality are associated with greater financial development. Second, the impact...

December 2, 2022
Articles, System Characterization,
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02Dec

Are Retirement Planning Tools Substitutes or Complements to Financial Capability?

By Gopi Goda, Matthew Levy, Colleen Flaherty Manchester, Aaron Sojourner, Joshua Tasoff & Jiusi Xiao We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goal. In the treatment condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between projected goal and actual retirement income, and allows users to interactively explore how alternative, future contribution choices would affect...

December 2, 2022
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02Dec

Inequities in the Golden Years: How Wealth Shapes Healthy and Work-Free Life

By Hessam Bavafa, Anita Mukherjee & Tyler Welch Recent work has established that the gradient of life expectancy with respect to wealth is large and widening. We make three contributions to build on that result using two recent decades of data from the United States. First, the additional years are in healthy, disability-free years, indicating substantial gains for the wealthy. Second, the return to wealth in achieving these healthy years is increasing over two recent decades for all but the...

December 2, 2022
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