admin, Author at Pension Policy International

29SepSeptember 29, 2020

Canada. Ontario implements new funding relief measures for defined benefit plans

Ontario Regulation 520/20 (the “Amending Regulation”) which amends Regulation 909 under the Pension Benefits Act (Ontario) (the “PBA”) came into force. The Amending Regulation provides temporary relief from pension funding obligations to employers of certain Ontario-registered defined benefit plans in two respects, as discussed below. Extension to make Catch-up Contributions The Amending Regulation provides employers of Ontario-registered defined benefit plans with a temporary extension of time to make contributions that are due under a valuation report (“Catch-up Contributions”) that...

September 29, 2020

News, Slider2020, Canada, COVID-19, Defined Benefit, Funding

28SepSeptember 28, 2020

México. AMLO propone tope a comisiones de las afores

Plantean que las comisiones se adecuen a las tarifas que cobran en Estados Unidos, Colombia y Chile; el ahorro promedio del trabajador se incrementaría hasta 12%. El presidente Andrés Manuel López Obrador presentó a la Cámara de Diputados su iniciativa de reforma a las pensiones. El proyecto causó sorpresa en el sector privado, ya que también propuso reducir y topar las comisiones por manejo de afores hasta adecuarse a tarifas de cobro en Estados Unidos, Colombia y Chile. La propuesta señala...

September 28, 2020

Noticias, UncategorizedAmérica Latina, Mexico, Reforma de Pensiones

28SepSeptember 28, 2020

México. Asociación de Afores considera innecesaria modificación en la Ley de Pensiones

La Asociación Mexicana de Afores (Amafore) señala que el año pasado se comprometió con el Gobierno a bajar las comisiones. La Asociación Mexicana de Afores (Amafore) consideró innecesaria la modificación a la Ley de los Sistemas del Ahorro para el Retiro, que tiene por objeto establecer un tope máximo a las comisiones que cobra el Sistema de Ahorro para el Retiro (SAR), debido a que el año pasado se comprometieron con el Gbierno a disminuir este concepto. Leer también México. AMLO...

September 28, 2020

Noticias, UncategorizedAmérica Latina, Mexico, Reforma de Pensiones

28SepSeptember 28, 2020

Canada’s pension fund plans to invest a third of funds in emerging markets by 2025. India is a major component

Canada’s massive pension fund plans to invest up to a third of its funds in emerging markets over the next five years and India is an important destination, the fund’s Asia Pacific head, Suyi Kim, told CNBC.Domestic consumption, technology and increasing demand for infrastructure to support the growth underpin many of the investment themes and opportunities that CPPIB looks at in India, Kim said.The growth rate of South Asia’s largest economy has taken a hit over the last few years...

September 28, 2020

News, SliderCanada, India, Investment

28SepSeptember 28, 2020

South Africa. Pandemic accelerates changes in retirement sector

Purpose of Regulation 28 of the Pension Funds Act is to protect retirement savings. The speed at which the Covid pandemic came upon us, particularly for the employee benefits and retirement fund industry, has been likened by some to a wave of change that was necessary to propel business thinking and its applications forward. This has placed greater emphasis on the growing influence of a multitude of regulations, technologies and social ideas that were already in play before the lockdown took...

September 28, 2020

News, SliderIncome, Labor Market, South Africa

28SepSeptember 28, 2020

US. Indiana increased public pension assets despite pandemic

Indiana’s public pension funds for state and local government employees, including teachers, has apparently weathered the financial markets’ volatility during the coronavirus pandemic, new data from the state show. The General Assembly’s Pension Management Oversight Committee heard Wednesday that the Indiana Public Retirement System increased its pension assets by 2.56% to $30.6 billion during the 2020 budget year, which ran from July 1, 2019, to June 30, 2020. Read More @SFChronicle

September 28, 2020

News, SliderEurope, Social Protection

28SepSeptember 28, 2020

The Covid-19 wake-up call to buttress social investment

The temptation to cut welfare expenditures to reduce deficits inflated by the pandemic must be resisted. Barely having had time to absorb the economic and social aftershocks of the Great Recession, the world is confronted with an even more disruptive exogenous shock—the coronavirus pandemic, costing above all human lives but also causing massive dislocation. As employment opportunities for Millennials are undermined, low-wage stagnation for essential workers is reinforced and work-life balance stresses for women are intensified, the resilience of the European...

September 28, 2020

News, SliderEurope, Social Protection

25SepSeptember 25, 2020

US. Pensions Have Been Shunning Stocks at Their Own Peril

With the Fed signaling low interest rates for the foreseeable future, pension funds weigh bigger bets on equities Read also US. Pension Buyouts a Relative Bargain, Says Mercer Pension funds and endowments have been shifting away from the U.S. stock market for years. Some are now reconsidering that decision. Read also JPMorgan-backed Brazil fintech plans to expand in U.S., Mexico Individual investors, including younger traders using apps like Robinhood, have been playing a bigger role in the market lately. They’ve been buying...

September 25, 2020

News, Slider2020, COVID-19, Investment, US

25SepSeptember 25, 2020

Kenya. Workers can now access pensions to buy house

Workers can now access up to Sh7 million or a maximum of 40 percent of their retirement savings to buy their first residential house after Treasury Secretary Ukur Yatani signed the amended regulations. Pension schemes have until September 14, 2021 to amend their rules to allow their members early to access their savings for house purchase. The law is meant to boost home ownership in a market where most people employed in the formal sector are unable to raise...

September 25, 2020

News, Slider2020, Kenya, Pension design, Saving

25SepSeptember 25, 2020

UK. Scam warning signs found in half of post-Lockdown pension transfers

According to XPS, the pensions consultancy firm, in July and August of this year 51% of pension transfers, equating to twenty five million pounds in pension savings, were flagged as at risk of a pension scam. The number of transfers showing at least one red flag has dramatically increased during the COVID-19 pandemic. In 2016, only 13% of pensions’ transfers triggered a red flag. This figure rose to 33% at the end of June 2020 and then jumped considerably...

September 25, 2020

News, Slider2020, COVID-19, Risk, UK

September 2020