March 2023

UK. Budget: Pensions to get boost as tax-free limit to rise

The total amount that workers can accumulate in their pension savings before paying extra tax is expected to be increased in Wednesday's Budget. The final figure has not been confirmed, but people are expected to be able to save up to £1.8m over a lifetime, up from £1.07m currently. The policy aims to stop people - particularly doctors - from reducing hours or retiring early owing to tax. Critics say the move will only benefit a small fraction of the workforce. UK economic...

Ghana. ‘We don’t have time to go to court, we’ll picket MoF some more’ – Pension bondholders threaten

Pensioners who bought government bonds and have not been paid their coupons have threatened to picket the Ministry of Finance some more if they are not paid in 48 hours. "We have our options, plenty of them, including the picketing, so, when it comes that we have to repeat, we'll repeat", the group's convener, Dr. Adu Anane Antwi, told Valentina Ofori-Afriyie on Class91.3FM's mid-day news programme 12 Live. Asked if the options included going to court, Dr. Anane Antwi said: "No,...

Why So Many Experts Consider Annuities a Win for Retirees

Do you know what type of retirement product saw sales soar 44% in 2022 — and received praise and positive publicity in the finance field as consumers saw their other retirement investments lose value? It’s not cryptocurrency! It’s not some hedge fund. Or junk bonds. It’s easily understood and won’t be seen as a fad in future years. I’ve described it as a product that “doesn’t make your retirement; it makes your retirement better.” Its technical term is single premium immediate annuity,...

Sweden’s New $90 Billion Pension Plan: Non-ESG Funds Not Welcome

Sweden has announced a plan to promote Environmental, Social and Governance (ESG) oriented companies through the targeted investment of its pension fund. One trillion Krona (90 billion USD) of pension savings will be allocated for investment into firms that abide by ESG standards. This plan is the most recent of a series of initiatives put in place by the Swedish pension system to contribute towards the fight against climate change, human rights and other pressing issues. The wave of societal contributions...

Amas de casa jubiladas: una revisión sobre el Plan de Inclusión Previsional

Por Tatiana Marisel Pizarro Con este artículo pretendemos mostrar aquellas modificaciones del sistema previsional argentino a partir de la puesta en marcha del Plan de Inclusión Previsional y la inserción del ama de casa como beneficiaria directa, específicamente en San Juan. Para cumplir con esta meta, seleccionamos una estrategia de lectura de datos ofrecidos por el INDEC -Instituto Nacional de Estadísticas y Censos- y ANSES - Administración Nacional de la Seguridad Social- sobre la influencia que tuvo esta medida en...

Informalidad y vulnerabilidad laboral: aplicación en vendedores con empleos de subsistencia

Por María Osley Garzón-DuqueI, María Doris Cardona-ArangoII, Fabio León Rodríguez-OspinaIII & Angela María Segura-CardonaI El concepto de economía informal es disperso y se sugiere como sinónimo de vulnerabilidad laboral. Como término polisémico, genera confusión y dificultad para identificar perfiles concretos de vulnerabilidad laboral en trabajadores informales con empleos de subsistencia, que venden sus productos en las calles y aceras de las ciudades. No disponer de un concepto claro y un perfil de vulnerabilidad laboral para este tipo de trabajadores genera...

México. La ruleta de la subcuenta de vivienda, un fraude latente para los trabajadores

Erika López (nombre ficticio usado para proteger su identidad) se quedó desempleada a finales de 2022. Con dos hijos y varias deudas encima, decidió hacer un retiro de su Afore por concepto de desempleo, y al analizar su estado de cuenta, notó que también había un monto adicional etiquetado como subcuenta de vivienda. “Mientras hice los trámites para el retiro de la Afore, pensé que podía retirar también”, relata en consulta la trabajadora de 36 años, en consulta. En una...

Chile Vamos discutirá la reforma de pensiones cuando tenga lista su contrapropuesta

Frank Sauerbaum, jefe de la bancada RN, reafirmó que el sector no participará en el debut de la "mesa técnica" convocada por el Gobierno para debatir el proyecto. Esta actitud devela un ánimo "obstaculizador y con ánimo de empantanar" el diálogo, según el PS. Sauerbaum dice que la propuesta de la derecha está "casi terminada", y en unos 10 días más el Ejecutivo la tendrá en sus manos. Esta jornada se llevó a cabo la primera reunión de la "mesa técnica" convocada...

Pensions Lose Millions After Bank Collapse

Pensions across the globe have lost millions of dollars due to the collapse of Silicon Valley Bank (SVB). In the wake of SVB's Friday closure, several pension funds in the U.S. and two overseas have confirmed that they had investments in SVB stock that will likely be at a loss now that the bank has been shut down by federal regulators. Just before the weekend, a bank run sent the San Fransisco-based financial institution plunging into crisis as depositors made mass...

China to raise retirement age to deal with aging population – media

China is planning to raise its retirement age gradually and in phases to cope with the country's rapidly aging population, the state-backed Global Times said on Tuesday, citing a senior expert from China's Ministry of Human Resources. Jin Weigang, president of the Chinese Academy of Labor and Social Security Sciences, said China was eyeing a "progressive, flexible and differentiated path to raising the retirement age", meaning that it would be delayed initially by a few months, which would be subsequently...