November 2022
24Nov

China. New pension program nears launch

China has almost completed all preparations for a private pension program and will soon start implementing the project, said an official at the Annual Conference of Financial Street Forum 2022 in Beijing on Wednesday. The country has rolled out supportive policies such as implementation measures, tax policies and rules for financial products in this regard after the General Office of the State Council issued its opinions on promoting the development of private pensions in April. System docking tests on the private...

November 24, 2022
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24Nov

UK. Millennials risk losing nearly £6,600 by pausing pension contributions

People pausing their pension contributions in their 20s and 30s could stand to lose almost £6,600 by the time they reach retirement age, analysis from Money Minder has revealed. The research found that those in their 20s that paused pension payments for a year could have an additional £1,371, they risked losing up to £5,770 from their total pension fund when they reach state pension age, due to the accumulation of the investment returns contributing to the growth of the...

November 24, 2022
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24Nov

Why an aging population doesn’t spell economic doom

The world’s population passed the 8 billion mark on Nov. 15. While that’s a big number, the rate of population growth has slowed in recent decades, and fears about the “population bomb” are easing. Instead, a different but still formidable demographic challenge is taking shape on the horizon: global aging. According to a recent International Monetary Fund article, the number of children worldwide under the age of 15 will equal the number of people over 65 in 2050. The ratio...

November 24, 2022
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23Nov

Chile. Estudio muestra el impacto positivo de la PGU en las pensiones de quienes menos cotizaron

Un análisis del Observatorio Perspectivas muestra que las tasas de reemplazo previsional en Chile son mayores a las del promedio OCDE tanto en hombres como en mujeres, debido a la Pensión Garantizada Universal. La Reforma Previsional abrió también ese debate. Estudio. Un análisis del Observatorio Perspectivas muestra que la Pensión Garantizada Universal (PGU), actualmente en $193 mil, permite un financiamiento tanto o más elevado que los últimos sueldos líquidos de los trabajadores que cotizaron pocos años en el sistema previsional. El...

November 23, 2022
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23Nov

Perú. Congreso presentan proyecto de ley para retiro de 2 UIT de las AFP y desafiliación voluntaria

El congresista Segundo Montalvo (Perú Libre) presentó un proyecto de ley que tiene como fin que los afiliados a la Administración de Fondos de Pensiones (AFP) puedan retirarse voluntariamente, así como el retiro de 2 Unidades Impositivas Tributarias (UIT). “El objeto de esta ley es el retiro voluntario, búsqueda de mejorar la tasa de interés sobre los fondos de los afiliados, y el crear el plan de desafiliación de las Administradoras de Fondo de Pensiones (AFP), para la administración del...

November 23, 2022
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23Nov

Empresas y sindicatos acuerdan aumentar 20% salario mínimo en Argentina para lidiar con inflación

Líderes empresarios y sindicales acordaron el martes subir un 20% el sueldo mínimo de forma gradual, informó el Gobierno, para seguir el ritmo de una inflación que ha golpeado sostenidamente el poder adquisitivo de la población y podría alcanzar el 100% este año en Argentina. Según el acuerdo del Consejo del Salario, que reúne a empresas y sindicatos bajo el auspicio del Gobierno, el sueldo mínimo se incrementará 7% en diciembre, 6% en enero, 4% en febrero y 3% en...

November 23, 2022
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23Nov

US. New Biden rule allows socially conscious investing by retirement plans

President Joe Biden's administration on Tuesday reversed restrictions imposed under his predecessor Donald Trump on retirement plans considering environmental, social and governance (ESG) factors such as climate change and racial justice when selecting investments. The Labor Department announced a final rule first proposed last year after Biden, a Democrat, ordered government agencies to assess climate-related risk to retirement and pension investments. Read also 41% of U.S. women expect to retire at age 70, older or not at all: survey The rule will...

November 23, 2022
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23Nov

European regulator drafts guidelines for ESG fund names

European Securities and Markets Authority, the European Union's securities regulator, is seeking input as it works on rules for funds calling themselves sustainable or ESG. In a consultation paper published Nov. 18, ESMA offered draft guidelines for such funds, saying the names "should be supported in a material way by evidence of sustainability characteristics or objectives that are reflected fairly and consistently in the fund's investment objectives and policy." The proposal said those names "are a powerful marketing tool." Read also...

November 23, 2022
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23Nov

Poor policy is failing the elderly in India’s unorganised sector

‘India has the world’s largest young workforce’ is an oft-repeated adage attached to the demographic dividend of the country. The immense excitement for the potential of India’s youth has seemingly overshadowed the fact that, given the nation’s falling mortality rate, its population is rapidly getting old. The recent Youth in India 2022 report by the Ministry of Statistics and Programme Implementation has recognised this shifting demographic phenomenon. According to the report, the youth population (aged 15–29 years) is expected...

November 23, 2022
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23Nov

US. Here’s How Much Rising Rates Help Pension Plan Liabilities

Rising interest rates may be a bane for the fixed-income section of pension plans’ portfolios. But the ascending rates tend to have a benign influence on pension liabilities. A study by NISA Investment Advisors sketches out how much, and also spotlights little-appreciated side effects. Boosting long-term rates means that the liabilities, or the plans’ discounted value of future cash flows, decrease. All things being equal, this situation tends to produce the welcome result of enhancing plans’ funded status. By NISA’s calculations,...

November 23, 2022
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