February 2017

These legislators collect paychecks from Washington—and pensions from Illinois

Six-term Wheaton Republican Peter Roskam is a powerful figure in the U.S. House, where he chairs a key panel on tax policy and wants to delay Medicare and Social Security benefits for millions of Americans by raising the eligibility age. But Roskam—who has criticized his home state as a “fiscal basket case” and marshalled opposition to a federal rescue for Illinois's troubled pension funds—began collecting his $37,452 annual pension from the state for his years as an Illinois lawmaker at...

PFRDA to soon announce names of nine pension fund managers

Pension fund regulator PFRDA will announce in the next 10 days the names of nine pension fund managers (PFMs) shortlisted by it under the new variable commission structure, a top official said today. Pension fund regulator PFRDA will announce in the next 10 days the names of nine pension fund managers (PFMs) shortlisted by it under the new variable commission structure, a top official said on Wednesday. Moreover, the Pension Fund Regulatory Development Authority (PFRDA) is hopeful that Atal Pension...

Moving the retirement outcome needle: 3 studies shed light

TIAA research highlights the increasingly important role of employer-sponsored retirement plans, but also a continuing disconnect between reality and workers’ expectations about retirement. Consider these statistics: Some 85 percent of plan participants who report an easy transition into retirement say they shared their retirement vision with their partner... Read More: HERE

Chinese military veterans stage protests in central Beijing over pensions

Chinese military veterans have demonstrated in central Beijing for two days, demanding unpaid retirement benefits in a new wave of protests highlighting the difficulty in managing demobilized troops. Hundreds of protesters, dressed in green and blue camouflage fatigues, gathered on Wednesday morning outside the Communist Party's anti-corruption agency, the Central Commission for Discipline Inspection, standing in rows and chanting slogans. Reuters was sent footage of the protest by participants. A smaller gathering of protesters congregated outside the Ministry of Civil Affairs on...

Moody’s Warns of Lower State Pension Investment Expectations

Moody’s on February 17 published: “State and Local Government — US: Softening Investment Expectations Signal Accelerating Budget Pressure from Pensions.” Moody’s Senior Analyst Thomas Aaron commented that with both the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) moving to cut investment return assumptions to 7 percent by 2018, large United States public pension systems will be pressured to also drop their return assumptions in response to lower investment outlooks. Aaron highlighted, “In a market...

Ruth Brunn finally said yes to marijuana. She is 98. She pops a green pill filled with cannabis oil into her mouth with a sip of vitamin water. Then Ms. Brunn, who has neuropathy, settles back in her wheelchair and waits for the jabbing pain in her shoulders, arms and hands to ebb. “I don’t feel high or stoned,” she said. “All I know is I feel better when I take this.” Ms. Brunn will soon have company. The nursing home in...

NPC targets informal sector in new pension regime

Energised by the successes recorded by the new pension reform, which led to monumental increment of pension holdings to the tune of N6 trillion, the National Pension Commission (NPC) is set to target the informal sector in the first quarter of 2017. The Director General of the Commission, Mrs. Chinelo Anohu-Amazu, disclosed this last Friday at an executive breakfast meeting held by Society for Corporate Governance Nigeria, with the theme: “Corporate Governance: a Pension Industry perspective”. She said the decision was...

AFP: Mayores de 50 años podrán conocer monto de pensión de jubilación

Antes de junio, los afiliados a las AFP que tengan más de 50 años empezarán a recibir una vez al año un cálculo de cuál sería su pensión al momento de jubilarse si continúan realizando los mismos aportes, gracias al nuevo servicio de proyección de pensiones que implementarán las administradoras del Sistema Privado de Pensiones (SPP). Reporte alterno. Giovanna Prialé, presidenta de la asociación de AFP, dijo que el mecanismo empezará como una prueba piloto con mayores de 50 años,...

Aportes de 99 mil trabajadores en vez de ir a la AFP van a la ONP por error

La titular del gremio de AFP se muestra a favor de una reforma integral del sistema pensionario en el país, que contemple la actualización del bono de reconocimiento para los que migren de la ONP a la AFP, además de una pensión mínima de S/ 415. También opinó que se deben desarrollar productos pensionarios enfocados en los independientes. El presidente PPK habló de una reforma integral del sistema pensionario, tanto público como privado. ¿Cuál debe ser la orientación? Hoy, todos los...

Así explica la ciencia por qué es tan difícil ahorrar dinero

En las recientes estadísticas sobre el ahorro para el retiro hay buenas y malas noticias. La buena noticia es que el ahorro para el retiro en alcanzó su cifra más alta en 2016: 10.41 billones de pesos tan sólo en enero, lo que se tradujo en una variación anual de 3.3%, de acuerdo con cifras del Banco de México. La mala noticia es que acuerdo con encuestas gubernamentales, durante años anteriores sólo tres de cada 20 mexicanos desarrollaron hábitos de...