May 2023
05May

El Salvador. Docentes exigirán en las calles jubilación digna

Los docentes saldrán a las calles de San Salvador el próximo 26 de mayo para exigir al Gobierno de Nayib Bukele, una jubilación digna tras reiterar su desacuerdo con la nueva Ley de Pensiones, aprobada con el partido oficialista Nuevas Ideas. Ayer, el Sindicato de Maestros y Maestras de la Educación Pública (SIMEDUCO) y Bases Magisteriales convocaron a los docentes a participar de una "marcha negra" que partirá desde la Plaza Divino Salvador del Mundo a las 8:00 a. m....

May 5, 2023
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05May

US. Auto-Enrollment Gains in Popularity Among Retirement Plan Participants

Automatic enrollment, one of many retirement saving tactics expected to increase in frequency due to the passage of the SECURE 2.0 Act of 2022, are favored at an all-time high, new data from American Century shows. Among retirement plan participants surveyed in late 2022, 71% agreed employers should auto-enroll workers at a 10% default, compared with 47% in 2021 and 46% in 2020, according to the American Century Investments 10th Annual Retirement Savers Survey: Reflection, Risk and Resolve. While survey respondents...

May 5, 2023
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05May

Swedish watchdog to scrutinize Alecta over U.S. bank investments

Sweden's financial watchdog will investigate Stockholm-based pension fund Alecta's risk management in the wake of its investments in collapsed U.S. banks. Finansinspektionen, the Financial Supervisory Authority of Sweden, will in particular investigate how Alecta measures risks in various investments, the watchdog said in a notice Thursday. The starting point for its investigation is the 1.12 trillion Swedish kronor ($108.4 billion) pension fund's investments in Silicon Valley Bank, First Republic Bank and Signature Bank. The pension fund had a total 12 billion...

May 5, 2023
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05May

Pensioners in South Africa, Kenya, and Nigeria are among the poorest globally- report

A new report by Allianz, an international financial services provider, has revealed that retirees in several African countries are among the poorest globally. The report, which surveyed 75 countries, including five in Africa, cites an ineffective pension system and a lack of adequate retirement benefits as the major reasons for the alarming trend. In Egypt, for instance, the report notes that the gross benefit level is merely 18 per cent, leaving many senior citizens struggling to make ends meet. Similarly,...

May 5, 2023
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05May

US. PBGC Bails Out Service, Manufacturing, Transportation Pension Funds

The Pension Benefit Guaranty Corp. on Monday provided Special Financial Assistance totaling more than $600 million to three multiemployer plans. The plans are the Western States Office and Professional Employees Pension Plan, the United Furniture Workers Pension Fund A and the Building Material Drivers Local 436 Pension Plan. The Western States plan, based in Portland, Oregon, has 7,230 participants in the service industry. In October 2018, it cut benefits by 25% to approximately 6,000 participants under the Multiemployer Pension Reform...

May 5, 2023
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04May

Colombia. Reforma Pensional Podría Impactar a Aseguradores de Rentas Vitalicias y Seguro Previsional

El proyecto de ley de reforma de pensiones, presentado recientemente por el Gobierno Nacional de Colombia, tendría efectos mixtos para el sector de seguros del país, según Fitch Ratings. El impacto de esta reforma en la mayoría de las empresas calificadas por Fitch probablemente será bajo, ya que solo algunas están suscritas a las rentas vitalicias y pólizas de supervivencia e invalidez. Se espera que las primas de rentas vitalicias disminuyan, pero sigue siendo incierto cómo la propuesta afectará...

May 4, 2023
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04May

Chile. Todos los multifondos de pensiones cierran abril con retornos negativos: el fantasma de un sexto retiro también impactó

No se salvó ninguno. En abril todos los multifondos de pensiones registraron retornos negativos, profundizando la caída que han anotado durante todo 2023. Según el boletín mensual de Ciedess, los fondos más riesgosos, A y B, registraron pérdidas de -0,19% y -0,30% respectivamente, mientras que el fondo C, de riesgo moderado, presentó una caída de -0,90%. Por su parte, los fondos más conservadores, D y E, obtuvieron bajas de -1,41% y -1,56%, cada uno. Recesión y tasas De acuerdo con Ciedess, el...

May 4, 2023
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04May

U.S. Corporate pension plans stay at or near 100% funded in April

U.S. corporate pension plans remained at or near 100% funded in April after slightly positive returns and slightly falling discount rates kept the numbers from moving too much, according to three new monthly reports. Legal & General Investment Management America estimated the average funding ratio of the typical U.S. corporate pension plan was 100.5% as of April 30, up from 100.3% a month earlier. In its latest monthly Pension Solutions Monitor, LGIMA said the estimated average funding ratio rose in April...

May 4, 2023
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04May

U.K. Pension funds plan more infrastructure investments

A majority of U.K. pension funds (62%) expect to increase investment in British infrastructure over the next 12 months and prioritize it over overseas markets, according to a survey conducted for alternative investment fund GLIL Infrastructure. GLIL is a partnership of U.K. pension funds managed by Local Pensions Partnership Investments. The survey of executives at 300 pension funds, including private and local government funds, was conducted by Censuswide for GLIL Infrastructure in February. It found that for 36% of respondents, the...

May 4, 2023
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04May

Ghana. Govt urged to establish Financial Literacy Education Secretariat

The government has been urged to establish a Financial Literacy Education Secretariat to continuously educate the public on financial literacy issues. This proposal is contained in Ghana Financial Literacy Strategy (2021-2025), which was prepared by Asamoah and Williams Consulting and Trans-media Network as part of the Financial Literacy Education Project (FLEP) under the Ghana Financial Sector Development Project (GFSDP), funded by the World Bank. The Chief Executive Officer (CEO) of Asamoah and Williams Consulting, Mr Mawuko Williams, who made the call...

May 4, 2023
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