July 2017

10Jul

Paraguay. BID prueba con IPS sistema de aval para crédito con fondos de pensión

Por ahora Paraguay es el único país donde los fondos previsionales fueron invertidos en un crédito directo con garantía 100% del BID, confirmó su representante, Eduardo Almeida. Según Eduardo Almeida, para que este tipo de inversiones tenga curso favorable depende directamente y en primer lugar de la demanda de las empresas por préstamos en moneda local, una condición que aquí se cumplió cabalmente, ya que hay demanda por recursos en moneda local y a largo plazo, precisó. El representante del...

July 10, 2017
Noticias
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10Jul

Ireland. Pension provision: exposing a two-tier and unequal system

A glaring anomaly in the way the cost of pensions is calculated in the public and private sectors has been revealed in a new study. It is further evidence of the need to put workers in both sectors on a more even footing when it comes to pension provision. The study by the Association of Pension Trustees of Ireland shows private sector workers and their employers would have to spend millions of euro to earn the kind of retirement benefits...

July 10, 2017
News, Slider
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10Jul

UK. Third of DB pension schemes could fail to pay members

It reveals that just one in five schemes have a high chance of being able to deliver on agreements in full, while the same amount have a 66% chance of failing. In addition, it was found that the typical scheme has already extended recovery plans beyond the average period of eight years, suffering a significantly higher risk of failure as a result. “Since the introduction of the Pension Protection Fund in 2005, more than 10% of DB schemes have failed to...

July 10, 2017
News, Slider
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10Jul

Ireland. Mandatory retirement age may be abolished

The Citizens’ Assembly is to tell the Government to abolish mandatory retirement ages, eliminate the time gap between retirement and eligibility for the old age pension, and to link that pension to average earnings, writes Caroline O’Doherty. The recommendations follow a weekend of hearings at which the assembly discussed a wide range of issues to do with income, work, and pensions for older people. Sixteen proposed recommendations were voted on and will form the basis for a detailed report to be...

July 10, 2017
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09Jul

Role of Social Security in Explaining the Rate of Saving Disparity: A Historical Study of New Zealand versus Singapore: 1960 – 1993

By Debasis Bandyopadhyay & Vera M. Chung (University of Auckland) This paper provides evidence to argue that the difference in the social security schemes of two countries may help explain the disparity in their saving rates. We examine the argument by limiting our focus to a comparison of New Zealand and Singapore for the period 1960 – 1993. We choose the period to avoid the potential impact of the major restructuring of the New Zealand Superannuation since 1994 toward a...

July 9, 2017
Articles, Labor Market, Regulation, Savings,
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09Jul

Policy Reflection: Letter of Credit Usage by Defined Benefit Pension Plans in Canada

By Norma L. Nielson & Peggy L. Hedges (University of Calgary) There is an argument to be made for letting corporations hold off on contributing to their employees’ defined benefit pension plans, as long as there is a guarantee the cash will come eventually. That is the reason that provincial governments began allowing creditworthy companies to instead provide a letter of credit, backed by a Canadian bank, guaranteeing the cash deposit, and secured by the company’s line of credit or...

July 9, 2017
Articles, Labor Market, Pension design, Regulation,
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09Jul

A Study on the Prospects and Problems of Unorganised Labours in India

By Ravindra B.K. (Alliance University), Pradeep M. D. & T. Ramjani Sab (Srinivas Institute of Management Studies) India comprises 43.7 crore people working with the skill in the residual sector as unorganized labours. Around 24.6 core engage in agriculture, 4.4 crore in construction and remaining people in the manufacturing and service sectors. This sector faces eventual deficiencies in regulations over employment, remuneration pattern, poor employer and employee relationship and casual work culture. Informal sector covers large number of workers from...

July 9, 2017
Articles, Labor Market, Pension design, Regulation,
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07Jul

Kenya. Push for new rules to protect retirees

The pension industry says the Retirement Benefits Authority (RBA) should set minimum qualifications for trustees. The industry has assets close to Sh1 trillion with over 1,400 registered retirement benefits schemes, 30 licensed administrators, 19 fund managers, 11 custodians and 10 actuaries. “Just like there is clamour in the political sphere for minimum qualifications for certain offices, it makes a lot of sense for us to request our regulator to pursue a point whereby trustees will have minimum qualifications and if we...

July 7, 2017
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07Jul

Sweden Opens $155 Billion in Pension Cash to Greater Risks

Sweden’s $155 billion AP pension system was given the go ahead to cut its bond holdings and invest more in private equity in a bid to boost returns and safeguard retirement funds. The new rules for AP1, AP2, AP3 and AP4 will require the funds to hold 20 percent of their assets in the safest bonds, down from 30 percent, the Finance Ministry said in a statement Friday. The proposal also does away with a 5 percent limit for non-listed...

July 7, 2017
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07Jul

Ambassadors of G7 countries urge Ukrainian parliament to adopt pension reform next week

Ambassadors of the G7 countries strongly support the pension reform proposed by the Ukrainian government and urge the Verkhovna Rada of Ukraine to adopt the corresponding legislation during its plenary session next week. This is said in a statement made by the ambassadors of the G7 in support of the pension reform in Ukraine. "We, the G7 Ambassadors, wish to express our strong support for the pension reform plan proposed by the Ukrainian government, and we call on the Rada to...

July 7, 2017
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