July 2017

13Jul

Malaysia. ANZ Bank nears deal to sell Malaysian banking stake to pension fund: sources

Australia and New Zealand Banking Group (ANZ.AX) is near a deal to sell its Malaysian banking stake to a pension fund and exit the Southeast Asian nation, sources familiar with the matter said, in a transaction that could be worth around $900 million. ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) (AMMB.KL) since early last year as part of a strategy to divest minority stakes in Asia and as AmBank...

July 13, 2017
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13Jul

UK. Gay man wins Supreme Court case on equal pension rights

A gay man has won a landmark ruling which will give his husband the same pension rights as a wife would receive. The Supreme Court unanimously ruled that if John Walker, 66, dies, his husband is entitled to a spouse's pension, provided they remain married. The ex-chemical company worker said it would "drag" the government "into the 21st Century", while human rights group Liberty said "thousands" could benefit. A government spokesman said it would review the implications of the ruling. BBC legal affairs...

July 13, 2017
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12Jul

Mexico. Desventaja de mujeres en ahorro para retiro

Es necesario generar una actualización del marco normativo de los sistemas de ahorro para el retiro, para favorecer las desventajas de las mujeres en el ámbito de la previsión social. La proposición con punto de acuerdo establece que el elevado porcentaje de mujeres dedicadas sólo al hogar, así como su condición de género, constituyen un serio obstáculo para el ahorro para el retiro. El diputado Javier Díaz dio a conocer que del total de cuentas administradas por las Afore, sólo un...

July 12, 2017
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12Jul

El Salvador. Afirman que propuesta ICP es la más “sólida” para reforma pensiones

La propuesta de reforma de pensiones elaborada por la Iniciativa Ciudadana para las Pensiones (ICP) es la más consistente desde el punto de vista técnico, según las opiniones vertidas ayer durante un foro en el que se discutió sobre las cuatro propuestas de reforma que han sido enviadas a la Asamblea Legislativa. El analista económico Luis Membreño destacó que los expertos en pensiones del Banco Mundial, Heinz Rudolph y Gonzalo Reyes, concluyeron, después de analizar la propuesta de la ICP,...

July 12, 2017
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12Jul

México. Sólo Principal Afore paga multa de Cofece

La administradora de fondos para el retiro Principal Afore pagó una multa cercana a los 75 millones de pesos que le impuso la Comisión Federal de Competencia Económica (Cofece), por realizar junto con otras afores conductas anticompetitivas y cuyas sanciones suman un total de mil 100 millones de pesos; se trata de la única afore que ha pagado la multa hasta el momento. En abril de este año, la Cofece sancionó a Profuturo GNP Afore, Afore Sura, Afore XXI Banorte...

July 12, 2017
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12Jul

Paraguay. Piden crear comisión que estudie proyecto de fondo de jubilaciones

Autoridades de la Unión Industrial del Paraguay (UIP); Federación de la Producción, la Industria y el Comercio (FEPRINCO) y de la Asociación Rural del Paraguay (ARP) acudieron ayer al Congreso Nacional, en audiencia con los titulares de las respectivas cámaras legislativas. Los empresarios solicitaron a los presidentes Fernando Lugo, del Senado, y Pedro Alliana, de Diputados, la creación de una comisión especial, tripartita, para analizar y consensuar una nueva propuesta sobre el Proyecto de Ley de Jubilaciones. Al respecto, el titular...

July 12, 2017
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12Jul

Netherlands. CEO of pension fund manager PGGM heads to Dutch central bank

The outgoing CEO of Dutch pension fund manager PGGM, Else Bos, will take up a key position at the Dutch central bank next year, leading oversight of insurers and pension funds. Bos, who previously worked at Dutch banks ABN Amro and NIBC, will begin her role at the central bank (DNB) on July 1, 2018, the Dutch finance ministry and DNB said on Tuesday. PGGM said in May that Bos, 57, would leave in November to take an unspecified position elsewhere....

July 12, 2017
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12Jul

US. Pensions prove popular: Auto-enrolment take-up has smashed government expectations

The workplace pension has proved more popular than the government imagined, according to statistics revealed today by the Pensions Regulator (TPR). More than 8m people have signed up for a workplace pension since auto-enrolment was launched in 2012. With hundreds of thousands more employees set to enrol in the coming months, the total number will ultimately beat the expectation of 8m people in total set out five years ago. This ambitious agenda of helping workers save for retirement would not have...

July 12, 2017
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12Jul

Canada Pension Plan Investment Board and Vermilion Energy Inc. Announce Strategic Partnership in Corrib

Canada Pension Plan Investment Board ("CPPIB") and Vermilion Energy Inc. ("Vermilion") (TSX:VET)(NYSE:VET) are pleased to announce a strategic partnership in the Corrib Natural Gas Field in Ireland ("Corrib"), whereby CPPIB will acquire Shell Exploration Company B.V.'s ("Shell") 45% interest in the project, with Vermilion operating the assets after completion of the acquisition. Through its wholly owned subsidiary, CPP Investment Board Europe S.a.r.l., CPPIB has entered into a definitive purchase and sale agreement with Shell, to acquire 100% of Shell...

July 12, 2017
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12Jul

UK financial watchdog concerned about what people are doing with their pension savings

The UK’s Financial Conduct Authority has flagged concerns about the way in which people are using their pensions since the introduction of landmark rules around retirement savings in 2015. The FCA on Wednesday said that it had identified several issues, particularly relating to advice and competition. A more extensive report is due next year. Under rules introduced in 2015, savers are able to access their retirement savings without having to buy an annuity, or income for life. The FCA said that...

July 12, 2017
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