March 2017

09Mar

UK. L&G Operating Profit Rises 7 Percent on Boost From Pension Unit

Legal & General Group, the UK’s largest manager of pension assets, posted a 7 percent increase in full-year operating profit after earnings jumped at its retirement division. Operating profit advanced to 1.56 billion pounds ($1.9 billion) from 1.46 billion pounds a year earlier, according to a statement Wednesday. That compares with the average 1.62 billion-pound estimate of 21 analysts surveyed by L&G. Operating profit at the retirement division rose 27 percent, while earnings at the investment management unit increased 3...

March 9, 2017
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08Mar

Problems of Reforming the Institute of Early Pensions for Work in Harmful and Hazardous Conditions

By Yury Mikhailovich Gorlin, Nadezhda Galieva, Elena E. Grishina, Marina A. Eliseeva, Vladimir Kartavtsev & Anna Cheremnykh (RANEPA) One of the main lines of the strategy for long-term development of the pension system of the Russian Federation, approved by the Resolution of the Russian Government is the reform of early retirement institute. In this area Russian Government set an additional tariff of insurance premiums for employers who offer hazardous work; a special assessment of the working conditions is being made,...

March 8, 2017
Articles, Labor Market, Pension design, Regulation,
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08Mar

Embedded Flaws of the Bulgarian Pension Funds or the Code Against the Insured

The Bulgarian pay-as-you-go publicly managed pension system is complemented by default and voluntary defined contribution pension funds, managed privately. The regulatory regime of the private pension funds is such that turns them into: unsuitable, uncompetitive and ineffective pension products. Privately managed pension funds are unsuitable, because they are not aligned with the investment horizon and the risk tolerance of individual investors. They are uncompetitive since their track record is of delivering below market returns for above market fees and charges....

March 8, 2017
Articles, Pension design, Regulation,
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08Mar

Afores crecieron siete mil 232 millones de pesos en febrero

Al segundo mes, el ahorro para el retiro de los mexicanos en las Afores creció en siete mil 232 millones de pesos respecto a enero, con lo que suma tres meses consecutivos de plusvalías, de acuerdo con la Comisión Nacional del Sistema de Ahorro para el retiro (Consar). Las cifras actualizadas del órgano regulador, publicadas hoy, muestran que el saldo total en el Sistema de Ahorro para el Retiro (SAR) alcanzó dos billones 816 mil 053 millones de pesos al...

March 8, 2017
Noticias
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08Mar

Using Panel Tax Data to Examine the Transition to Retirement

By Peter J. Brady & Steven Bass (Investment Company Institute); Jessica Holland & Kevin Pierce (Government of the United States of America - Internal Revenue Service) Using panel data from the Internal Revenue Service’s Statistics of Income (SOI) Division, we find that most individuals do not experience a reduction in inflation-adjusted spendable income after claiming Social Security. We also examine the composition of income after claiming and find that both Social Security benefits and non-Social Security retirement distributions typically represent...

March 8, 2017
Articles, Labor Market, Pension design, ,
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08Mar

A propósito del Fondo Solidario

La reforma de pensiones del año 96 en Bolivia, dentro de sus falencias, conllevó la creación de una generación denominada en aquel entonces la "generación sándwich”, personas que no cumplían los requisitos de edad para lograr la jubilación en el sistema de reparto y que fueron transferidas al nuevo sistema de pensiones. Gran parte de estas personas, al aplicarles la fórmula con la que supuestamente se reconocía sus aportes al sistema de reparto, lograban calificar rentas muy bajas. Esta generación...

March 8, 2017
Noticias
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08Mar

México: Mujeres, más vulnerables en el retiro

Aunque las mujeres en México son las principales promotoras del ahorro en la familia, la posibilidad de retirarse con una pensión digna sigue siendo más baja que la del hombre, debido, entre otros factores, a que privilegian el ahorro a corto plazo para enfrentar imprevistos por encima de ahorrar para su retiro. Recordó que muchas de las mujeres dejan de laborar para dedicarse por un tiempo, o en su caso de forma permanente, al hogar, lo que afecta directamente sus...

March 8, 2017
Noticias
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08Mar

Regulator’s Lisa rules highlight pension risk warnings

The Financial Conduct Authority has published the regulatory framework for the Lifetime Isa, less than a month before the product is due to be launched. The FCA provisional rules, published in November, remained largely unchanged in the final guidelines, with just a handful of key modifications, most significantly to risk warnings. No change was made to the FCA's decision to allow the Lifetime Isa to be sold without advice. The final rules come almost a year after former chancellor George Osborne announced...

March 8, 2017
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08Mar

63% of Irish women don’t know how to start a pension

A new study from Standard Life has warned that Irish women are falling behind when it comes to preparing for their future and life after retirement. It's concluded that the average woman needs €30,600 per annum to live comfortably after they retire - but female workers are saving only €1,500 per year. That excludes the maximum state pension of almost €12,400. "The best case scenario for the average woman is a retirement income of €13,900 per annum which is not enough...

March 8, 2017
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08Mar

World’s Biggest Pension Fund Finds Friend in Trump

One of the world’s most conservative investors has found an unlikely new ally in one of its most flamboyant politicians: Donald Trump. The unconventional president-elect’s victory is helping Japan’s giant pension fund in two important ways. First, it’s sending stock markets surging, both at home and overseas, which is good news for the largely passive equity investor. Second, it’s spurred a tumble in the yen, which increases the value of the Japanese manager’s overseas investments. After the $1.2 trillion Government...

March 8, 2017
News
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