May 2017

29May

México. El desempleo dispara el retiro de ahorro en las Afores, para solventar los gastos corrientes

Ante la debilidad de la economía para generar empleos, los desocupados acuden a sus cuentas de retiro a fin de solventar los gastos corrientes del hogar, de acuerdo a datos de la Comisión Nacional del Ahorro para el Retiro (Consar). Además de enfrentar una debilidad económica y mayor desempleo, las familias mexiquenses también sufren una merma en sus ingresos reales con mayores impuestos por la Reforma Fiscal y menores salarios debido a la inflación, por lo que muchos desempleados se...

May 29, 2017
Noticias
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29May

US. Who killed retirement security? If you look closely, it wasn’t the 401(k)

“America’s retirement savings system has failed,” famed financial planning author Jane Bryant Quinn has said — and she isn’t short of company. Media articles regularly recount the ways in which Americans, burdened with the responsibility of saving for retirement through 401(k)s, fail to put enough aside for old age. In response, 84 percent of House Democrats have co-sponsored legislation to expand Social Security benefits, while states are hoping to establish their own retirement plans for private sector workers. But here’s the...

May 29, 2017
News, OP Ed
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29May

Jamaica’s labour minister urges population to get a retirement plan

By virtue of their longevity, centenarians Violet Mosse Brown, 117, and Hubert Williams, 104, have ostensibly highlighted the importance for working Jamaicans to acquire retirement plans, Minister of Labour and Social Security Shahine Robinson has pointed out.“To me, Auntie Vie (Mosse Brown) is a living testimony of the importance of the need to plan for retirement right from the start. And I am sure that Mr Williams can also tell you how important it is to plan,” Robinson...

May 29, 2017
News
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29May

Brits on brink of retirement ‘most pessimistic’ about finances

Baby boomers who are approaching their retirement are more worried about their personal finances than any other age group in Britain, as pension increases come under pressure and rising inflation threatens to erode the value of savings. One third of 55 to 64-year-olds told accounting giant PwC that they expect their disposable incomes to fall in the next year, compared to 29pc of those aged over 65. That represents a turnaround from the usual picture in which pensioners are the...

May 29, 2017
News
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29May

Retirement savings gap seen reaching $400 trillion by 2050

By Katherine Chiglinsky | Bloomberg “A lot of the good solutions already exist somewhere in the world. Just no one has figured them out all together,” said Michael Drexler, head of financial and infrastructure systems at the World Economic Forum. “There’s almost no new invention necessary.” Longer life spans and disappointing investment returns will help create a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World...

May 29, 2017
News
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28May

Fiscal Challenges of Population Aging in Brazil

By Alfredo Cuevas, Izabela Karpowicz & Mauricio Soto (International Monetary Fund); Carlos Mulas-Granados (Government of the Kingdom of Spain)  In recent decades, population has been aging fast in Brazil while old age pensions and health related spending have increased. As the population ages, the spending trend threaten to reach unsustainable levels absent reforms. Increasing the retirement age is key, but by itself will not provide sufficient savings to close the pension system financing gap, and reforms reducing replacement rates are...

May 28, 2017
Aging, Articles, Regulation, Savings, ,
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28May

Pension Reform Options in Chile: Some Tradeoffs

By Marika Santoro (International Monetary Fund) In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle additional proceeds to individual accounts and to increase the support of solidarity pensions. We model increased contributions as a labor tax. We find the impact of this reform on GDP to be negative in the near to the medium run, with GDP declining...

May 28, 2017
Adequacy, Articles, Pension design, Regulation, ,
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26May

Chile. Regulador multó a Habitat con UF 2.000 y AFP debió restituir US$1,6 millones a afiliados

El reclamo de un afiliado de Habitat en 2015 ante cobros erróneamente cursados en sus depósitos convenidos, se tradujo ayer en la mayor multa cursada por el regulador a una AFP en los últimos 15 meses. El caso no era único y la Superintendencia de Pensiones (SP) resolvió sancionar con UF2.000 (unos $53,2 millones) a la administradora, a lo que se suman otros US$1,6 millones que la SP le instruyó devolver a los afiliados que habían sido afectados por...

May 26, 2017
Noticias
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26May

México. Desdeña pensiones 40% de millennials; prestaciones sociales no están en su radar

A pesar de que tres de cada cinco consideran que una pensión es fundamental para su futuro, 40% de millennials prefiere ganar un mejor salario que contar con prestaciones sociales, reveló ayer la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) a la Comisión Permanente. Como parte del Informe al Congreso del Primer Trimestre de 2017, la Consar incluyó la Encuesta nacional ¿Qué opinan los millennials mexicanos del ahorro para el retiro?, cuyos resultados anunció en febrero pasado,...

May 26, 2017
Noticias
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26May

US. A Step Backward in Financial Regulation

The scarring experience of the financial crisis of 2008, and the federal government’s actions to avert widespread chaos in the financial system, remain poorly understood events across the political landscape. Although Congress enacted the Dodd-Frank Act in 2010 to prevent such crises from recurring, some of its provisions reflect that poor understanding. Rather than surgical precision, Dodd-Frank took an inefficient broad-brush approach to making the financial system safer. And despite being overly burdensome, it failed to address a range of...

May 26, 2017
News
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