November 2022

Chile. Presidente Boric arremete contra las AFP: “Están más preocupados de sus negocios que de las pensiones”

El presidente Gabriel Boric defendió la importancia de impulsar la reforma de pensiones que se ingresará esta semana al Congreso y arremetió contra uno de los principales detractores de la iniciativa, la Asociación de las AFP. “Era bien interesante su alegato, lo único que no decían es que las pensiones debían de subir. Están más preocupados de sus negocios que de las pensiones de la gente y eso me parece que es preocupante”, dijo Boric en entrevista con TVN y...

UK expected to raise state pensions, benefits in line with inflation

Britain is expected to increase state pension and welfare payments in line with inflation in next week's budget, the Times newspaper reported. British Prime Minister Rishi Sunak is expected to announce the increases to ensure that the Nov. 17 budget is seen as fair and compassionate, the report said. The government will set out its fiscal plans in an effort to rebuild investor confidence after a "mini-budget" earlier this year caused borrowing costs to surge. New finance minister Jeremy Hunt will seek...

Perú. AFP competirán ahora solo por comisión por saldo para afiliados

La SBS informó que -en cumplimiento a lo establecido en la ley del sistema privado de pensiones (SPP)- aprobó las bases y el cronograma de la sexta licitación del servicio de administración de las cuentas individuales de capitalización (CIC) de los trabajadores que se incorporen al SPP, a través de la Circular N° AFP--181-2022. De acuerdo con lo establecido en dicha norma, la apertura de sobres y la adjudicación se realizarán el próximo 16 de diciembre mediante acto público. La AFP...

US. Climate investors eye midterms with caution

After an active year of federal policy in favor of climate technology, investors are preparing to go it alone should the midterm results change the tone in Washington. Why it matters: Private investors may have to step up and fund potentially risky, capital-intensive projects like battery-manufacturing plants or grid-resilience projects should federal funds and incentives be pulled back or stopped altogether. Context: Several Republican candidates in state and federal races have indicated that ESG initiatives, particularly from large asset managers running...

España. Esta será la nueva edad de jubilación en 2023

La edad de jubilación es uno de los temas que más preocupa a los trabajadores. España se encuentra actualmente en pleno proceso de aumento de la edad de jubilación ordinaria, en sincronización con lo que están haciendo gran parte de los países de la Unión Europea. Concretamente, el Gobierno de España aprobó en la reforma de pensiones del 2013 una medida en la que se estableció el aumento de la edad legal general de jubilación de 65 a 67 años...

Japan’s GPIF reports 0.88% decline for latest quarter

Japan's Government Pension Investment Fund, Tokyo, said its portfolio ended the latest quarter with ¥192.1 trillion ($1.33 trillion) in assets, down 0.88%, or $11.6 billion, from the prior quarter. In a statement posted on GPIF's website Friday, Masataka Miyazono, the pension fund's president, said rate hikes in the U.S. and Europe to contain inflationary pressures stoked concerns of recession, depressing stock prices at home and abroad. But the dollar's continued gains vs. the yen during the quarter ended Sept. 30, to...

Climate change poses a threat to health equality in the UK: The Longevity Science Panel report

The Longevity Science Panel, in collaboration with L&G, today publish a report analysing the current and future impacts of climate change on the UK's health. The research reveals that climate change will be experienced unevenly across different sections of the UK population, and may deepen health inequalities in physical and mental health in the UK. The report titled, The Effects of Climate Change on Health in the UK, shows that the most economically deprived and those who are already frail...

German pensions to rise in 2023 with contribution hikes on the horizon

As usual, pensions in Germany are set to go up next summer, according to a new report seen by Bild am Sonntag. As Germany struggles to retain the sustainability of its pension system, contribution rates are set to remain stable for next four years, but hikes are on the horizon. Pensions in Germany are adjusted every year in line with wage development. Although the increase in 2023 isn’t enough to offset the rising cost of living in Germany - and...

La Seguridad Social Universal: El reto de la inclusión

De Norma Gabriela López Castañeda & Eduardo Alcaraz Prous De editorial Thompson Reuters, esta primera Edición del libro revisa la Seguridad Social en México desde el surgimiento del IMSS hasta la reforma de subcontratación del personal de 2021, desde un enfoque de inclusión de los trabajadores informales. Más información aquí

UK bond turmoil leaves smaller pension schemes with longer-term costs

The recent crisis in Britain's government bond market means smaller UK pension schemes may fork out more money for a bespoke liability-driven investment (LDI) strategy in future to ensure better protection, industry sources say. LDI products, sold by asset managers such as BlackRock, Legal & General and Schroders to pension funds, use derivatives to help them "match" assets and liabilities so there is no risk of shortfall in money to pay pensioners. Pension funds, who must post cash as collateral against...