admin, Author at Pension Policy International

04MayMay 4, 2017

México. Sanciona COFECE a Afores por pactar convenios para reducir los traspasos de cuentas individuales

El Pleno de la Comisión Federal de Competencia Económica (COFECE o Comisión) determinó que se acredita la responsabilidad de Profuturo GNP Afore, Afore Sura, Afore XXI Banorte y Principal Afore, así como de 11 personas físicas en la realización de prácticas monopólicas absolutas en el mercado de los servicios de administración de fondos para el retiro de los trabajadores en el territorio nacional. Ante ello, se les impuso multas que en conjunto suman alrededor de mil 100 millones de...

May 4, 2017

NoticiasMexico

04MayMay 4, 2017

India. 7th Pay Commission: Centre approves modifications on pay and pensionary benefits

Rejecting the 7th pay commission’s recommendation of a slab-based system to calculate the disability pensions, the Union Cabinet Wednesday approved the original percentage-based system that was implemented after the 6th pay commission’s recommendations. Retention of the percentage-based system will benefit existing and future defence pensioners. This system also brings additional pension expenditure of Rs 130 crore per year will make Centre’s total annual pension bill approximately Rs 1,76,071 crores. This modification will be implemented from January 1, 2016. An official...

May 4, 2017

NewsIndia

04MayMay 4, 2017

US. Senate Kills State-Sponsored Retirement Plans For Private Sector Workers

In a narrow vote, 50 (yes) to 49 (no), the Senate by resolution killed an Obama-era rule that greenlighted state-sponsored auto-IRA retirement programs for small business workers. A majority vote was needed to repeal the rule. The AARP cried foul and urged a “no” (don’t repeal the rule) vote because: “Too many small business employees don’t have a way to save for retirement out of their regular paycheck.” That’s 55 million workers. “This is an industry effort to try to...

May 4, 2017

NewsUS

03MayMay 3, 2017

Nigeria. State Government of Uyo suspends payments of pensions for retired Civil Servants

AKWA Ibom State pensioners have decried non-payment of their pensions and gratuities despite recent bailouts and Paris Clubs refunds, pleading with the state government to pay their entitlements. It was gathered that from August 2015 till January 2017, retired civil servants have not been paid their gratuity and pension arrears, due to perceived embargo on the payment of gratuities and pensions by the state government. One of the pensioners claimed that from January 2017 till date, the total amount of...

May 3, 2017

NewsNigeria

03MayMay 3, 2017

How pension funds can help relieve Kenya’s debt burden

Kenya’s heavy debt burden could be managed without hurting ongoing execution of the mega infrastructure projects if the government taps into the multi-billion shilling pension funds. That was the verdict of the pension industry leaders meeting in Nairobi last week, under the auspices of an African Development Bank-backed think-tank, Making Finance Work for Africa (MFW4A). African governments, they said, must rethink their sources of development funds and opt for those that best serve the interests of their countries in the long...

May 3, 2017

NewsKenya

03MayMay 3, 2017

UK. Retirement: are pensions going to be much smaller in future?

Increasing life expectancy has seen the number of years in which people spend in retirement creep ever upwards. Using census data, the Office for National Statistics calculated that in 1981 a 65 year old man could expect to live another 13 years (17 for a woman). By 2011 this had increased by five years to 18 years of retirement (21 for a woman). By 2050, more than 50,000 Britons are expected to reach 100, and it is now predicted that...

May 3, 2017

NewsUK

03MayMay 3, 2017

US. The Obama-era workplace retirement plans that the GOP wants to kill

I’m at a loss as to why some Republicans on Capitol Hill want to block the creation of workplace retirement plans for small-business employees. We know that Social Security will soon face some serious funding issues. And with fewer companies offering pensions these days, we know that workers have to save for their own retirement. The percentage of employers still offering a traditional defined benefit plan to new hires has fallen significantly, according to advisory services firm Willis Towers Watson. In...

May 3, 2017

News, OP EdUS

03MayMay 3, 2017

Chile. En medio del debate, utilidades de las AFP crecieron 42% durante el primer trimestre

Las AFP aprovecharon el buen momento de los mercados durante el inicio del año. De acuerdo a los resultados informados por las Administradoras de Fondos de Pensiones (AFP) a la Superintendencia de Valores y Seguros (SVS), las compañías sumaron utilidades por $116 mil millones entre enero y marzo, un 42,1% más de ganancias respecto al mismo período de 2016, cuando registraron ganancias por $81.756 millones. Los beneficios habrían llegado luego de los buenos resultados de los multifondos más inclinados hacia la...

May 3, 2017

NoticiasChile

03MayMay 3, 2017

México. Trasladar ahorro de vivienda al fondo del retiro sería un evidente retroceso: Soto Martínez

La propuesta de integrar el ahorro de los trabajadores de la subcuenta de vivienda al fondo de ahorro para el retiro, además de lesionar sus intereses, representa un retroceso para las más recientes conquistas en este rubro, como el conseguir que se devolviera esta cantidad a los trabajadores que nunca solicitaron un crédito de vivienda al INFONAVIT, consideró el secretario general de la CTM, Leobardo Soto Martínez. El representante enfatizó que se debe evitar que las subcuentas de vivienda se...

May 3, 2017

NoticiasMexico

03MayMay 3, 2017

Perú. Advierten que sería “peligroso” reducir la tasa de aporte de trabajadores a las AFP

Los trabajadores afiliados al sistema de las AFP actualmente aportan el 10 % de sus sueldo al mes a su fondo de pensiones, y sería “peligroso” reducir esta tasa. Así considera el presidente de la Comisión de Protección Social, Alejandro Arrieta. Por el contrario, señaló el representante, la tasa de aporte debe elevarse “porque el gran objetivo es mejorar las pensiones". “Sería un poco peligroso bajar esta tasa [del 10 %]”, reiteró, según informa Gestión. En la actualidad, en el Sistema...

May 3, 2017

Noticias

May 2017