May 2017

08May

México. Todas las Afores serán afectadas por sanción a 4 de ellas

La multa por mil 100 millones de pesos que la Comisión Federal de Competencia Económica (Cofece) impuso a 4 administradoras de fondos para el retiro (afores) – Sura, Profuturo, Principal y Afore XXI Banorte– al coludirse para retrasar el traspaso de cuentas individuales de los trabajadores crea un “riesgo reputacional” que afectará a todo el sistema e incrementará la desconfianza de la gente. Lo anterior, justo en momentos en que se promueve tanto el ahorro voluntario y se pretende hacer...

May 8, 2017
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08May

Chile. Gobierno liberaría límites de inversión de AFP en activos alternativos

Afinar los detalles del documento que se pondrá en consulta pública y que normará la inversión de las AFP en activos alternativos, es una de las tareas en que trabaja hoy la Superintendencia de Pensiones. El objetivo es que el texto se publique en junio, ya que la puesta en marcha del nuevo reglamento debe ser en noviembre próximo. Hasta ahora, la idea de liberar los porcentajes que cada gestora quiera disponer en cada segmento de los activos alternativos...

May 8, 2017
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08May

México. XXI Banorte se queja de elevada multa de la COFECE

Juan Manuel Valle Pereña, quien asumió la dirección general de afore XXI Banorte a principios de este año, calificó de “escándalo” la multa por 300 millones que le impuso la Comisión Federal de Competencia Económica (Cofece), por coludirse con Profuturo GNP, Sura y Principal para realizar prácticas monopólicas absolutas que consistieron en retrasar el traspaso de clientes. Valle Pereña, quien trabajó muchos años en la Secretaría de Hacienda y en general en el sector público, asegura que fue, en efecto,...

May 8, 2017
Noticias
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08May

US: What does longevity have to do with Social Security?

According to the 2015 Social Security report, less than 7 percent of people with enough quarters to draw their Social Security benefit died prior to receiving. There are three other groups of individuals that will not receive benefits – infrequent workers who do not have sufficient earnings to qualify for benefits, non-covered workers such as state and local government employees who did not pay into the program and immigrants who arrive in the United States at 50 or older...

May 8, 2017
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08May

Canada. Care of aging parents costs Canadians an estimated $33B annually

Caring for aging parents costs Canadians an estimated $33 billion a year in out-of-pocket expenses and time taken from work, and that figure is expected to grow, according to a report released Monday by economists at CIBC. "An aging population combined with longer lifespans and strained social services has in recent years seen more and more Canadians taking on the role of caregiver for their aging parents," CIBC deputy chief economist Benjamin Tal and senior economist Royce Mendes said in...

May 8, 2017
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08May

Taiwan’s BLF seeks new custodian for pension insurance fund

Taiwan’s Bureau of Labor Funds (BLF), the supervisory body of the island state’s labour pension funds, is looking for a new custodian for the National Pension Insurance Fund (NPIF)’s foreign investments, suggesting the agency isn’t renewing its contract with US financial services company BNY Mellon The NPIF, the fundamental social protection scheme in Taiwan, has lagged other BLF pension funds in its foreign investments because of its relatively small asset size. The BLF has been increasing the NPIF’s overseas exposure...

May 8, 2017
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08May

The Politics of Social Protection in Ghana: Policy Reform in a Competitive African Democracy (2000-2014)

By Eduard Grebe (Stellenbosch University) The Kufuor (New Patriotic Party) administration of 2000-2008 implemented substantial reforms of the contributory social insurance system (including the introduction of a national health insurance scheme and a new 'three tier' pensions system), and introduced a range of social assistance schemes targeted at the 'extreme poor'. This paper analyses the factors that drove policy reform and the broad cross-party consensus that emerged despite highly competitive elections. Electoral dynamics played a significant role, and this is...

May 8, 2017
Articles, Pension design, Regulation, ,
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08May

The Impact of Pensions, Transfers and Taxes on Child Poverty in Europe: The Role of Size, Pro-Poorness and Child Orientation

By Ron Diris (KU Leuven), Frank Vandenbroucke (University of Amsterdam) & Gerlinde Verbist (University of Antwerp) We assess the impact of redistributive policy on child poverty across 29 European welfare states, using EU SILC 2005–2012. We distinguish between spending on pensions, spending on other cash transfers and taxation. For each of these instruments of redistribution, we further distinguish three features: size, pro-poorness and targeting towards households with children. Pensions are generally neglected in analyses on child poverty, but are relevant...

May 8, 2017
Articles, Labor Market, Regulation,
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08May

The Impact of Social Pensions on Intergenerational Relationships: Comparative Evidence from China

By Xi Chen (Yale), Karen Eggleston (Stanford University) & Ang Sun Renmin University of China) China launched a new rural pension scheme (hereafter NRPS) for rural residents in 2009, now covering almost all counties with over 400 million people enrolled. This implementation of the largest social pension program in the world offers a unique setting for studying the economics of intergenerational relationships during development, given the rapidity of China's population aging, traditions of filial piety and co-residence, decreasing number of children,...

May 8, 2017
Aging, Articles, Labor Market, Pension design, ,
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05May

Mexican Antitrust Regulators Fines Pension Fund Managers

Mexico’s antitrust commission said Thursday it fined four pension fund management firms and 11 individuals a combined 1.1 billion pesos ($58 million) for making agreements to limit transfers of retirement accounts from one manager to another, restricting competition in the market. The Federal Competition Commission said that between November 2012 and June 2014, six bilateral agreements were signed among pension fund... Full Content: Wall Street Journal Remember to subscribe to our free weekly newsletter for more news or subscribe to our service...

May 5, 2017
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