July 2020

24Jul

Some of The World’s Biggest Pension Systems Are Failing Women

Even before Covid-19 shuttered economies across the world, many women faced retiring with less savings than men. Now, that gap is set to widen further in some of the world’s biggest pension systems. Read also Germany. Siemens to co-operate with Raisin on pensions Women already typically earn less than men and take more time out from the workforce to have children, resulting in diminished pension pots. And as coronavirus lockdowns smash industries such as air travel, tourism, retail and hospitality,...

July 24, 2020
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24Jul

Changes under Mexico’s planned pension reform

Mexican workers will see a major boost to their retirement benefits after the government and private sector ironed out the details of a pension reform that lawmakers are expected to pass into law by early 2021. Following are key changes and aspects of the planned reform according to the Mexican finance ministry: - Retirement benefits for the average worker are forecast to increase by 40%. - Under the plan, total contributions will rise from 6.5% to 15% of salary...

July 24, 2020
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24Jul

Canadian pension funds rebound in Q2 with 9.9% return

Canadian defined benefit plans posted positive investment returns in the second quarter, recovering all of the losses from the previous quarter, Northern Trust pension universe data found. For the quarter ended June 30, the median plan in the Northern Trust Canada Universe returned 9.9%, up from -7.1% in the first quarter, according to the findings released Thursday. Canadian DB plans benefited from the recovery following March's poor equity performance due to the economic impact of the COVID-19 pandemic. "Despite...

July 24, 2020
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24Jul

US. COVID-19 Underscores Need to Address Retirement Savings Gaps

Addressing the 2020 NAPA D.C. Fly-In Forum this week, two members of the House Ways & Means Committee shared their thoughts on how the economic stress caused by the pandemic has shined a spotlight on the need to better align retirement savings incentives. “I actually believe, long term, the biggest issue for the United States is retirement security,” noted Rep. David Schweikert (R-AZ). “If you look at the U.S. demographics, we have so many of our Baby Boom...

July 24, 2020
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23Jul

Mexico Unveils Pension Reform Bill that will Boost Worker Pensions

Mexican workers will get a major boost in their retirement benefits after the government and private sector ironed out the details of a pension reform that is expected to become law by early next year, the Finance Ministry said on Wednesday. Read also Changes under Mexico’s planned pension reform The plan presented by Finance Minister Arturo Herrera sees pensions for the average worker rising some 40%, even as worker contributions to the pension system remain unchanged. "This is a big,...

July 23, 2020
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23Jul

Chile’s Senate approves pension reform law

Chile's Senate on Wednesday approved a measure allowing citizens to withdraw up to 10 percent of their pension funds to help mitigate the effects of the coronavirus pandemic. Read also COVID-19 Relief Packages Help Fuel Ultra-Low Interest Rates The bill, approved by a 29-13 vote with one abstention, will now return to the lower house Chamber of Deputies where it has already been given the green light for a final and decisive vote. Read also Covid-19 May Destroy Chile’s Iconic...

July 23, 2020
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23Jul

World Bank makes recommendations to improve pensions coverage in Ghana

“If a new or existing informal sector scheme is given sole responsibility for covering the cocoa farmers, economies of scale could be achieved. This will allow outreach to other groups of informal sector workers in a financially viable manner”, the World Bank asserted in its pensions coverage in the informal sector Africa report for 2019. However the World Bank report indicated that the coverage of the elderly through contributory pension schemes is not expected to improve. But the state...

July 23, 2020
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23Jul

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India

WhatsApp plans to offer credit, insurance and pension products to lower-income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook service looks to make a digital payments push in its biggest market by users. The instant messaging app maker has been working with banks -- including ICICI, Kotak Mahindra and HDFC -- in India for the past year to explore ways to bring financial services to individuals who have...

July 23, 2020
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22Jul

Pensiones dignas y sostenibles para todos: Los grandes retos de la longevidad

Por Arismendi Diaz Santana El nivel de vida de millones de jubilados se reduce, mientras los estudios pronostican una bomba previsional para mediados del siglo. Este libro responde a las siguientes preguntas: 1) ¿Cuál es la magnitud y el pronóstico de la crisis previsional global?; 2) ¿Cuáles factores determinan el creciente desequilibrio actuarial y financiero?; 3) ¿Por qué el sistema de reparto no garantiza pensiones sostenibles?; 4) ¿Qué factores limitan a la capitalización individual para asegurar una pensión digna...

July 22, 2020
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22Jul

Derecho internacional de la Seguridad Social

por Gabriela Mendizabal Bermúdez, Ulrich Becker La globalización ha tenido un gran impacto en el ámbito económico, social, tecnológico y laboral del ser humano, que repercute de manera directa o indirecta en su vida cotidiana. Este fenómeno trae consecuencias favorables, como la apertura de nuevos mercados comerciales, la comunicación global entre las personas, el enriquecimiento de los intercambios culturales, entre otras, pero también negativas, como el incremento de la pobreza en los países menos desarrollados, el daño al medio...

July 22, 2020
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