March 2017

02Mar

Retirement savings: Rule is delayed that would force advisors to do the best thing for their clients

The Labor Department is formally proposing to delay the implementation of the so-called fiduciary rule, a key consumer protection championed by President Barack Obama and others. The rule requires retirement advisors to put their clients' best interest first, but industry groups don't like the regulation and argue that it limits consumers' investment choices. It is supposed to take effect April 10, but the new proposed start date will be June 9. There is a 15-day comment window on the delay. President...

March 2, 2017
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01Mar

Caída sostenida de acciones de GyM preocupa a afiliados a las AFP

El sostenido declive del valor de las acciones de la constructora Graña y Montero la ha afectado gravemente, tanto, que ayer, en la víspera de una junta general extraordinaria de accionistas, se han producido importantes renuncias (ver nota aparte). Por eso, se espera que hoy la empresa brinde explicaciones sobre su supuesta implicancia en pagos irregulares realizados por su socia Odebrecht y además informe las medidas que tomarán para superar la crisis. Desde el viernes, las cotizaciones de Graña y...

March 1, 2017
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01Mar

El Salvador: Lorenzana sobre nueva propuesta pensiones: Los trabajadores cotizarán más, pero su ahorro y pensión serán más pequeños

"No puede ser que se presente una propuesta escrita en piedra. Nosotros no hemos estudiado la nueva propuesta de pensiones", afirmó. Según explicó, con la nueva propuesta de pensiones los cotizantes deben saber que cotizarán más, pero que su ahorro y pensión será más pequeña."Los trabajadores cotizarán más y su ahorro será menor. Es decir, trabajarán más tiempo y su pensión será menor", dijo. Para Lorenzana las AFP en el fondo no están cediendo absolutamente nada, pues a su criterio lo...

March 1, 2017
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01Mar

México: Retiros por desempleo en Afores llegan a máximos

La cifra de trabajadores que retiraron el dinero de su Afore por desempleo durante 2016 fue la más alta en la historia del Sistema de Ahorro para el Retiro, con un monto de 8 mil 571 mdp según la Consar. Esta cifra es la más alta en la historia del Sistema de Ahorro para el Retiro (SAR) y 31.8 por ciento más elevada que en 2015. Mientras la cantidad de personas que retiran recursos por desempleo aumenta, el monto de dinero...

March 1, 2017
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01Mar

The Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations 2017

The general levy on occupational and personal pension schemes recovers the core funding provided by the Department for Work and Pensions (DWP) for 3 public bodies: The Pensions Regulator The Pensions Advisory Service The Pensions Ombudsman This consultation seeks views on the proposed rates of the levy for the financial year 2017/18 onwards. This consultation is primarily aimed at pension scheme trustees, managers and administrators. We also welcome comments from the wider public. (more…)

March 1, 2017
Adequacy, Articles, Pension design, Regulation, , ,
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01Mar

About one million American workers have pension plans on verge of insolvency

Nearly one million working and retired Americans are currently covered by pension plans that are in imminent danger of insolvency, according to an organization trying to help people keep their retirement earnings. The union pension funds have been designated as being in “critical and declining status” — which means trustees are eligible to apply for cuts on their payouts. Reducing the payout load lengthens the life expectancy of the stressed fund — but does little to alleviate the suffering of seniors...

March 1, 2017
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01Mar

S.Korea’s giant pension fund plans pay boost to staunch talent loss

South Korea's National Pension Service (NPS), the world's third-largest pension fund, said on Tuesday it plans to boost the pay of its fund managers through an extra 4.3 billion won ($3.8 million) budget as it fights to staunch a wave of resignations. The NPS said in a statement that it plans to increase the fund managers' pay to the upper quartile range of the private sector, after its move to a remote city caused a spike in staff resignations. Previously, NPS...

March 1, 2017
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01Mar

Philip Green to Pay Up to 363 Million Pounds in BHS Pension Settlement

UK retail magnate Philip Green agreed to pay as much as 363 million pounds ($450 million) to compensate 19,000 former workers of collapsed department-store chain BHS after months of haggling with the country’s Pensions Regulator. The payment will enable trustees of BHS retirement plans to achieve a “significantly better outcome” than they would have under the UK’s Pension Protection Fund, Green said in a statement Tuesday. Regulators dropped their enforcement actions against the tycoon and his investment vehicles. “The settlement is...

March 1, 2017
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February 2017

28Feb

SBS: Fondos de AFP han perdido S/ 700 millones por caída en bolsa de GyM

En una semana las cuatro AFP presentes en el país han perdido unos 700 millones de soles tras la caída de las acciones de la empresa Graña y Montero (GyM) en la Bolsa de Valores de Lima, enfatizó Jorge Mogrovejo, Superintendente Adjunto de la SBS. No están expuestos. El funcionario indicó que estas entidades previsionales a fines del 2016 tenían aproximadamente un 1.09% del total del portafolio invertido en acciones de la mayor constructora del Perú. Detalló que la exposición...

February 28, 2017
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28Feb

NCSSF to manage pension funds across seven Chinese provinces

Seven of China’s local governments, including Beijing and Shanghai, have agreed to hand over the management of their pension funds to the National Council for Social Security Fund (NCSSF) in an effort to increase investment diversification and improve yields, Wang Zhongmin, vice chairman of NCSSF, confirmed to local media, according to a report on Chinese news site china.org.cn. This means that approximately 360 billion RMB (US$52.37 billion) will be transferred to the NCSSF for centralised asset management from local authorities,...

February 28, 2017
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