August 2020

07Aug

A New World Post COVID-19: Lessons for Business, the Finance Industry and Policy Makers

By Monica Billio, Simone Varotto Pandemics are disruptive events that have profound consequences for society and the economy. This volume aims to present an analysis of the economic impact of COVID-19 and its likely consequences for our future. This is achieved by drawing from the expertise of authors who specialize in a wide range of fields including fiscal and monetary policy, banking, financial markets, pensions and insurance, artificial intelligence and big data, climate change, labor market, travel, tourism and...

August 7, 2020
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07Aug

Eskom Pact Won’t Include Pledge to Use State Worker Pensions

A pact between South Africa’s government, labor unions and business to cut the debt of the stricken national power utility won’t include a pledge to use the pensions of state workers as had been initially proposed. An agreement due to be signed at the next meeting of the President’s Working Council has no firm undertaking to use the funds of the 2.1 trillion rand ($120 billion) Public Investment Corp., which manages state workers’ retirement money, or private pensions, said...

August 7, 2020
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07Aug

Sorry, But The World’s Best Pension Funds Are Canadian: McGill University & CEM Benchmarking

Canada’s pension funds are beating peers globally in investment performance and are stronger at hedging against liability risks, according to research from McGill University and CEM Benchmarking. Their success is partly explained by the fact they are more likely to manage their assets in-house, McGill researchers Sebastien Betermier and Quentin Spehner, along with CEM’s Alexander Beath and Chris Flynn, wrote in a July paper. The authors’ findings are based on a study of pensions, endowments, and sovereign wealth...

August 7, 2020
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07Aug

AIG expands pension risk transfer reinsurance activities in Q2

American International Group (AIG), the global insurance and reinsurance player, has expanded its activities in the pension risk transfer space during the second-quarter of this year. Reporting its results recently, AIG highlighted the Life and Retirement business segment as one experiencing strong premium growth. AIG explained that its Life and Retirement division recorded income of $881 million, down $168 million compared to the prior year quarter driven by private equity losses, continued spread compression on the investment portfolio and...

August 7, 2020
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06Aug

Netherlands, Denmark, Australia Rated World’s Top Pension Systems

The Netherlands, Denmark, and Australia were ranked as the top three pension systems by country, according to a report from Visual Capitalist. Meanwhile, Thailand, Argentina, and Turkey were ranked the worst. Read also Young Australians are raiding their super. What does this mean for their future? Rounding out the top 10 systems were Finland, Sweden, Norway, Singapore, New Zealand, Canada, and Chile. The United States ranked 17th. Read also India. Panel on labour suggests social protection for informal workers The report...

August 6, 2020
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06Aug

Kenya launches contributory pension scheme for government workers

Kenya launched a contributory pension scheme for hundreds of thousands of government workers on Wednesday, to prevent a crisis in the government’s finances from growing retirement obligations. The East African nation, which is facing reduced tax revenue due to the coronavirus crisis and ballooning debt repayments, has been spending 2.9% of its annual budget on pensions payments, the ministry of finance said, in a plan that does not involve contributions by individual workers. Read also Nigeria. Operators invest N55.25bn...

August 6, 2020
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06Aug

Canada. Government releases draft pension and deferred salary leave plan regulations

As part of the government of Canada’s COVID-19 Economic Response Plan, on July 2 the Department of Finance Canada announced the release of proposed draft regulations that would amend the Income Tax Regulations (draft regulations) in order to assist sponsors of registered pension plans (RPPs) and deferred salary leave plans (DSLPs) during the COVID-19 pandemic, through the provision of temporary relief from certain requirements under the Income Tax Act. The draft regulations address the following matters: Adding stop-the-clock rules...

August 6, 2020
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06Aug

What Are The 5 Biggest Retirement Planning Mistakes?

Well, the biggest blunder is not saving enough money. No one wants to outlive their nest egg. The rest of the list is more subtle. According to Certified Financial Planner Darren Zaragola, common mistakes include: Mistake #1: Believing it is Too Late to Start Planning and Saving It is never too late to develop good habits and start saving for retirement. You do not have to “go without” to save. Every little bit helps, especially if you can take...

August 6, 2020
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06Aug

Mejores pensiones trabajos hacia la cobertura universal en américa latina y el caribe

Por Mariano Bosch Ángel Melguizo y Carmen Pagés América Latina y el Caribe (ALC) ha reducido su desigualdad y su pobreza, y enfrenta las próximas décadas con mayor optimismo que en el pasado. Conforme la región crece, aparecen nuevos problemas a los que se tienen que enfrentar los responsables de conducir la po- lítica económica. Cómo proporcionar pensiones adecuadas para los adultos mayores es uno de esos...

August 6, 2020
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06Aug

COVID-19 y las pensiones de retiro

por María Ascensión Morales Ramírez El 21 de diciembre de 1995 se promulgó la Ley del Seguro Social (LSS) en la cual se introdujo el sistema de capitalización individual, vigente desde el 1º. de julio de 1997. El 30 de marzo 2007 dicho sistema se incorporó a la Ley del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (LISSSTE). En la actualidad existen 66 millones de cuentas individuales (aunque más del 40% están inactivas) y...

August 6, 2020
Artículos, Sostenibilidad del Sistema, , ,
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