August 2022

Opciones para expandir la cobertura contributiva de pensiones entre los trabajadores independientes en el Perú

Por Noelia Bernal Lobato Este estudio analiza las características del mercado laboral en Perú y su relación con el sistema de pensiones poniendo énfasis en la cobertura de los trabajadores independientes. De manera similar a otros países de América Latina, se encuentra que los trabajadores independientes se caracterizan por tener, en su mayoría, un empleo informal, bajos niveles de educación, ubicarse principalmente en los dos quintiles más bajos de la distribución de ingresos, trabajar como comerciantes y en el sector...

Colombia. Recursos administrados por los fondos de pensiones fueron mayores a $399 billones

De acuerdo con el más reciente informe de la Superintendencia Financiera de Colombia (SFC) con las cifras del sector, los recursos administrados por los fondos de pensiones y cesantías del Régimen de Ahorro Individual con Solidaridad (Rais) aumentaron. Leer también Autoridad en Colombia abrirá espacio de conversación para aclarar inquietudes sobre pensiones Al cierre de mayo, estos recursos ascendieron a $399,6 billones ($388,1 billones en RAIS y $11,5 billones en el Régimen de Prima Media (RPM), sin incluir el programa de...

U.S. $7T Retirement Crisis Is Only Getting Worse

Americans have been warned for years of an impending retirement crisis. Yet the situation is getting worse. Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — there was a multi-trillion dollar savings shortfall. Read more Inflation Moderately Pressures US Public Pension Liabilities Then came a pandemic, war in Europe, decades-high inflation, the fastest rate-hiking cycle since the early 1980s and fears of a recession. The resulting market turmoil...

UK. Transfer volumes could hit £600bn as insurers post strong results

A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector. Read more Older people face losing €1,532 in spending power by end of year Of those that have released their results so far, Aviva saw bulk annuity sales increase by 15 per cent, rising to £1.9bn, which compares with £1.6bn...

This is how long people across Europe can expect to work

Whether you love your job—or dream of retirement—most of us want to know how long our working lives will last. The next generation of Europeans are expected to work for an average of 36 years, although there are big differences between countries. Working lives in Europe have been getting longer since 2001, according to the European Commission’s data service Eurostat. They shortened slightly for the first time in 2020 because of COVID-19, but are now up to their pre-pandemic level. The...

México. Los retiros de Afore por desempleo suman tres meses de crecimiento

Los retiros por desempleo suman tres meses consecutivos de crecimientos a tasa nominal a julio. En los primeros siete meses del año, los retiros por desempleo acumulan 12,742.1 millones de pesos, un 2.7% más que en el mismo periodo del 2021, de acuerdo con cifras oficiales. Leer también Sólo una de cada 10 personas regresa el dinero que retiran de su Afore Los retiros por desempleo son una opción para que personas que trabajaron en la formalidad y que perdieron su empleo...

Inflation Moderately Pressures US Public Pension Liabilities

The high inflation environment in the US is likely to have only moderately negative effects on state and local government public pension plan liabilities via automatic cost of living adjustment (COLA) mechanisms but will pressure plans through weakening asset performance and rising payroll costs, Fitch Ratings says. Market value smoothing and supplemental pension contributions by some governments this year from budget surpluses will help partially mitigate these challenges. While automatic COLA provisions differ across plans, those plans that provide them...

Older people face losing €1,532 in spending power by end of year

Older people are facing a cost of living crisis as rising inflation takes its toll on pensions and savings. By the end of 2023, older persons could lose 15% to 20% of their spending power putting them at risk of poverty. According to Age Action, Ireland’s leading advocacy agency on older persons and ageing, the average older person will lose €1,532 in spending power by the end of this year. The average older couple will lose €3,364. The charity is calling on...

UK. Govt to change civil servants’ early pensions access

The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme. The Cabinet Office had launched a consultation to this effect in 2017, but on August 15 it published a new document with updated proposals to be discussed with trade unions as it considered that a long time has elapsed since the initial consultation,...

Tough Times Ahead Warns CEO of Australia’s Largest Pension Fund

Consumers and businesses will continue to struggle as global policy makers battle to get inflation under control, the head of Australia’s largest pension fund told a media forum. “Our view is that there are some pretty tough times ahead,” Paul Schroder, chief executive officer of the A$260 billion ($182 billion) AustralianSuper Pty, said on Tuesday. “We think we are in a continually tight environment. The question now is what is the rate of that tightening and is there a pivot around...