October 2017

09Oct

Spain. Blocked reforms

he Spanish economy has two very serious problems: signing of a wage agreement, which allows recovery of some of purchasing power in medium term, and a solution to reform pension system. Social agents (businessmen and trade unions) have shown a frustrating inability to reach a wage pact in 2017; It would be very dangerous for economic and social stability that agreement would also fail for 2018, because wage-earning policy cannot remain dissociated from reactivation. The recent agreement in Balearic...

October 9, 2017
News, OP Ed, Slider
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08Oct

Endowment vs Pension Returns

By Michael Karris (EndowBridge Capital) Does the Endowment Model still work? Judging by large endowments’ steady outperformance of a 70% global stock /30% US bond index, THE ANSWER IS YES. Versus a 60% US stock / 40% US bond index, the answer is not as clear cut. Even so, the Endowment Model still adds value for a long-term portfolio that uses alternative assets, especially venture capital. The lucrative illiquidity premium has generated superior returns for U.S. endowments versus other investors, especially through...

October 8, 2017
Articles, Investing, Savings
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08Oct

Occupational Pension Funds (IORPs) & Sustainability: What Does the Prudent Person Principle Say?

By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...

October 8, 2017
Aging, Articles, Pension design, Regulation, , ,
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08Oct

Occupational Pension Funds (IORPs) & Sustainability: What Does the Prudent Person Principle Say?

By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...

October 8, 2017
Aging, Articles, Pension design, Regulation, , ,
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08Oct

Is There a Retirement Crisis? Examining Retirement Planning in the Household and Government Sectors

By Andrew G. Biggs (American Enterprise Institute) In response to a widespread perception that households are undersaving for retirement, policymakers have proposed expanding Social Security and establishing supplementary retirement saving plans run by state governments. But these proposals take place against a background of record-high unfunded liabilities for government-run retirement programs. If government entities have either financial or political difficulty funding their existing obligations to retirees, shifting greater retirement provision from households to government could potentially worsen existing shortfalls in...

October 8, 2017
Articles, Funding, Savings, System Sustainability, ,
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06Oct

México. Llama Iniciativa Privada a construir una reforma hacendaria

Con un llamado a construir una Reforma Hacendaria que permita simplificar y facilitar las obligaciones de los contribuyentes, brindándoles certeza jurídica y que coadyuve para ampliar la base de contribuyentes al incentivar la formalidad, nueve organizaciones e instituciones del sector privado entregaron a la Comisión de Hacienda y Crédito Público de la Cámara de Diputados la iniciativa “Declaración de principios para la elaboración de una reforma hacendaria”. Dirigentes de la Asociación Nacional de Abogados de Empresa, Colegio de Abogados (ANADE),...

October 6, 2017
Noticias
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06Oct

Chile. Presidente de AFP Capital ofrece disculpas por polémica fiesta: “Parto por decir que esto fue un error”

Se ha cumplido casi una semana desde que se difundió un material audiovisual que mostraba un lujoso evento de la compañía AFP Capital en un yate por el Caribe. Las imágenes causaron revuelo en la prensa nacional y las críticas de políticos no tardaron en llegar. Por su parte, Juan Carlos Jobet, presidente de la firma, aclaró que esta situación "no es consistente con lo que quieren ser como compañía" En conversación con La Tercera, Jobet partió defendiendo la posición...

October 6, 2017
Noticias
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06Oct

México. Se mantienen planes de pensiones privados, pese a reducción fiscal

Julio Méndez, CEO de Old Mutual, empresa global dedicada a la administración de fondos de ahorro y retiro privados, así como inversión y protección a largo plazo, destacó el gran dinamismo que sigue mostrando Nuevo León por impulsar el segmento de fondos de retiros privados. Empresas como Cemex, Arca Continental, Heineken, Alfa y Caterpillar, entre otras, mantienen sus fondos de retiro y ahorro privados con crecimientos de 1.5 por ciento. Para Old Mutual, el mercado de Monterrey representa entre 30 a...

October 6, 2017
Noticias
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06Oct

South Africa’s Gigaba wants concerns over irregularities at state pension fund probed

South Africa Finance Minister Malusi Gigaba on Friday asked government pension fund Public Investment Corporation (PIC) to investigate concerns of irregularities at the asset manager to ensure transparency at the institutions. The PIC has been in the spotlight in recent weeks after reports that the finance ministry had requested money from the pension fund to bail out struggling state firms. Gigaba has denied making such a request. “We need to assure pension holders that those with political or economic power will...

October 6, 2017
News, Slider
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06Oct

UK. Post workers announce 48-hour strike in first national walkout since privatisation

Postal workers will walkout on a 48-hour strike later this month in the first national stoppage since the Royal Mail was privatised four years ago. The strike, involving 111,000 postal workers, will start at 11am on Thursday October 19 in a bitter dispute over pensions, pay and jobs. The strike announcement follows a strike ballot backed by a massive 89% on a turnout of 73% - well above the turnout threshold of 50% set last year by the Tory’s controversial Trade...

October 6, 2017
News, Slider
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