September 2017

05Sep

Perú. Prialé: Comisiones que cobran las AFP a los afiliados seguirán bajando

Las tasas de las comisiones que cobran las Administradoras de Fondo de Pensiones (AFP) a sus afiliados seguirán bajando, conforme continúen reduciéndose los costos logísticos, sostuvo la presidenta de la Asociación de AFP, Giovanna Prialé. “La tendencia de la comisión es a la baja y continuará bajando, porque lo que buscamos es que el consumidor se sienta satisfecho por el servicio. Entonces seguirá bajando de acuerdo a las condiciones del mercado”, señaló. COMPARACIONES Prialé indicó que a nivel de la Alianza del...

September 5, 2017
Noticias
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05Sep

Market conditions a challenge for institutional asset allocation, says MFS

Institutional investors need to adjust their investment horizons and return targets to take a longer-term view through the market cycle, according to US-based MFS Investment Management (MFS). The toughest challenge for institutional investors such as defined benefit (DB) pension plans is to optimise their risk-adjusted returns in the current market environment, according to Ravi Venkataraman, senior managing director of MFS Institutional Advisors, the institutional unit of MFS. One of the key issues is that these investors have little understanding about how...

September 5, 2017
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04Sep

UK. Robots and AI can bring down pension age, says TUC

The TUC has urged the government to use productivity gains from the greater use of robots and artificial intelligence to reverse planned changes to the state pension age. Before its annual congress in Brighton, the TUC said higher levels of productivity thanks to technological innovation ought to bring greater benefits for working people. It said recent progress had mainly benefited business owners, rather than being shared across the workforce through better wages and working conditions. Analysis from the accountants PricewaterhouseCoopers suggests...

September 4, 2017
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04Sep

Nigeria. Retirees to use voice, fingerprints for pension

Operators of the Contributory Pension Scheme are putting in place a biometric method to improve documentations of retirees and ensure proper payments on entitlements. Some of the characteristics of the process will include the use of fingerprints, voiceprints, facial features, writing patterns, iris patterns and hand geometry. According to the Pension Funds Operators Association, the method involves the use of passwords and PIN numbers, to ensure highest level of security. While noting that biometrics being introduced would involve data collection, transmission,...

September 4, 2017
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04Sep

Costa Rica. “Es riesgoso que alguien ajeno maneje nuestro fondo de pensiones” Poder Judicial

El tema se encuentra candente a nivel nacional, pero hay uno en específico que mantiene la llama viva: el fondo de pensiones y jubilaciones del Poder Judicial, el cual muchos encuentran abusivo. Históricamente este ha dado beneficios que quienes laboran fuera del tercer poder de la República no pueden tener acceso, como lo son montos muy elevados con base en solo un par de años de trabajo. Esto causó que la población llegara a cansarse y pidiera una reforma, pues...

September 4, 2017
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04Sep

Switzerland. Pensions 2020 is a reform in name only

The original primary goal of the reform was to maintain the level of support offered by our pensions system. With support from the government, parliament reformulated this goal and – with a wafer-thin majority – pushed through a reform that expands old age pensions instead of restructuring it. Pensions 2020 has degenerated into an unfair, superficial reform that makes a mockery of the inter-generational contract. The reform of the old age and disability pension is unfair, because it leads two...

September 4, 2017
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01Sep

Do Good Working Conditions Make You Work Longer? Evidence on Retirement Decisions Using Linked Survey and Register Data

By Petri Bockerman (Labour Institute for Economic Research; University of Turku) and Pekka Ilmakunnas (Aalto University School of Business) We analyze the potential role of adverse working conditions and management practices in the determination of employees' retirement behavior. Our data contain both comprehensive information regarding perceived job disamenities, job satisfaction, and intentions to retire from nationally representative cross-sectional surveys and information on employees' actual retirement decisions from longitudinal register data that can be linked to the surveys. Using a trivariate...

September 1, 2017
Adequacy, Aging, Articles, Labor Market, ,
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01Sep

Equity Solvency Capital Requirements: What Institutional Regulation Can Learn from Private Investor Regulation

By David Blitz, Winfried G. Hallerbach, Laurens Swinkels & Pim van Vliet (Robeco Asset Management) Solvency II has one standard equity solvency capital requirement for type 1 or developed market stocks (39 percent) and one for type 2 or emerging market stocks (49 percent). As such, differences in financial economic risk of stock portfolios within developed or emerging markets do not influence solvency requirements. This encourages risk-seeking behavior by insurance companies, and could sustain or even create structural mispricing in...

September 1, 2017
Articles, Corporate Governance, Investing, Regulation
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01Sep

Debt and Financial Vulnerability on the Verge of Retirement

By Annamaria Lusardi, Olivia S. Mitchell & Noemi Oggero We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56–61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals’ capacity...

September 1, 2017
Aging, Articles, Labor Market, Savings, Slider-Left, , ,
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01Sep

Danish Investing Giant ATP Exits Six-Year Bet to Target More Risk

ATP, which is Denmark’s biggest pension fund and one of Europe’s top institutional investors, is for the first time in six years looking into putting more of its money into riskier investments. The board of ATP, which manages 748 billion kroner ($120 billion) in taxpayers’ retirement benefits, will in coming months look into adjusting the fund’s strategy as forecasts show the current setup will result in returns falling by more than half, Chief Executive Officer Christian Hyldahl said in an interview...

September 1, 2017
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