August 2021
27Aug

UK. Do CDCs offer the best of both?

The DWP recently launched its consultation on draft collective defined contribution pensions scheme regulations, which is due to close on 31 August. Once these regulations are firmed up, by the end of this year in all probability, single or connected employers will be able to open collective defined contribution schemes for their employees. The Royal Mail, in a show of unity between employer and trades union, will be the first to do so. We will have to wait until early...

August 27, 2021
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27Aug

Global Pension Risk Survey 2019

By AON Welcome to the findings of Aon’s 2019 Global Retirement Risk Survey for the Asia-Pacific region. Aon’s Global Retirement Risk Survey has been conducted every two years for over a decade. The survey is part of a global series of surveys that follows defined benefit (DB) plan sponsors’ risk management attitudes and practices around the world. This is the first time that the survey has been conducted in the wider Asia-Pacific region. Japan took part in the research in...

August 27, 2021
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27Aug

African Pension Funds Report 2020

By AMETrade AMETrade hosts the annual Pension Funds and Alternative Investment Africa Conference (PI Africa). It is the leading forum on the continent gathering institutional investors and alternative investments representatives, examining new opportunities to diversify their portfolios to maximise returns. The conference has served as arguably the biggest networking and information sharing platform for the pension funds and alternative investment community, including leading pension funds, SWF, fund managers, asset managers & regulatory and administration heads. This report provides an overview of...

August 27, 2021
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26Aug

The New Income Projection Rules for Defined Contribution Plans

By Richard L. Kaplan & Barry Federici The SECURE Act enacted at the end of 2019 requires that defined contribution retirement plans provide plan participants will projections of how much monthly income their accumulated balances will generate upon their retirement. This article analyzes the new Labor Department regulations that go into effect on September 18, 2021 and suggests various revisions, including an explanation of likely tax consequences. Source: SSRN 616 views

August 26, 2021
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26Aug

Retirement and Voluntary Work Provision: Evidence from the Australian Age Pension Reform

By Rong Zhu This paper examines the empirical link between retirement and the supply of volunteer labor, using panel data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey. To identify the causal impact, we exploit a major reform of the Australian Age Pension which has significantly changed the retirement incentives of older people. We find positive and significant effects of retirement status on the voluntary work provision of older men and women. Longer time spent in retirement...

August 26, 2021
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26Aug

A New Look at Racial Disparities Using a More Comprehensive Wealth Measure

By Alice Henriques Volz & Jeffrey P. Thompson Most research measuring disparities in wealth by race relies on data that exclude resources that are disproportionately important to low-wealth and non-white families, namely defined benefit (DB) pensions and Social Security. This paper finds that once these resources are included, disparities in wealth between white families and Black and Hispanic families are substantially smaller and that they are not rising over time. The powerful equalizing roles of DB pensions and Social Security...

August 26, 2021
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26Aug

Chile. Asociación de AFP: con cuatro retiros, las pensiones de mujeres de 45 años pueden caer entre 15% y 77% y en hombres la baja iría entre 14% y 72%

Los tres procesos de retiro del 10% de las AFP ya han significado, hasta el 6 de agosto, la transferencia de US$48.756 millones a los afiliados al sistema. Y ahora el Congreso discute la posibilidad de autorizar un cuarto retiro de las AFP. Es en este contexto que la Asociación de AFP hizo un estudio para calcular cuánto bajarían las pensiones con cuatro retiros, dependiendo de la edad de la persona, sexo, lagunas previsionales y su ingreso imponible. Así por...

August 26, 2021
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26Aug

España. Las aportaciones a planes de pensiones caen un 20% hasta junio por la peor fiscalidad

Las aportaciones a planes de pensiones individuales se está reduciendo con fuerza. Entre enero y junio llegaron a este tipo de vehículos para la jubilación 1.102 millones de euros, lo que supone un 19,8% menos que en el mismo periodo de 2020. Desde hace siete años no se observaba un dato tan bajo. El deterioro de la fiscalidad está detrás de esta caída del ahorro a través de planes de pensiones. De acuerdo con los datos facilitados por Inverco, la...

August 26, 2021
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26Aug

Congreso boliviano aprueba retiro de pensiones de hasta 15% de los fondos

El Congreso de Bolivia aprobó el miércoles una ley respaldada por el Gobierno que permite a los ciudadanos retirar hasta el 15% de sus fondos de pensiones privados para ayudarlos a superar el impacto de la pandemia de COVID-19 y los bloqueos asociados. Leer también Bolivia. Gobierno: Bs 3.900 millones están disponibles para devolver aportes a AFP a 1,4 millones de personas La medida imita las leyes respaldadas por la oposición aprobadas en Perú y Chile, y fue una promesa de...

August 26, 2021
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26Aug

US. Retirement Tax Benefits Exacerbate Racial Inequities

By Steve Rosenthal In a recent report co-authored with University of Chicago Professor Daniel Hemel, I described how our retirement tax system favors the rich disproportionately. Read also A New Look at Racial Disparities Using a More Comprehensive Wealth Measure But it’s worse than that: Our system of generous tax subsidies for retirement savings—such as 401(k) plans, other defined contribution plans, and individual retirement accounts (IRAs)—also exacerbates racial inequities. Due in part to these tax breaks, the gap between the average retirement...

August 26, 2021
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