March 2023
03Mar

Panamá. Falta de decisiones presiona las finanzas de la Caja de Seguro Social

“No hay tiempo para dudar; hay que tomar acciones concretas”. Esta es la conclusión a la que llegaron los panelistas que analizaron la realidad financiera de la Caja del Seguro Social (CSS), durante un foro convocado por la Asociación Panameña de Ejecutivos de Empresa (Apede), ayer martes. Jorge Nicolau, consultor y estudioso de las finanzas de la CSS, indicó que la última actualización de los datos arrojó que la deuda que tiene el Sistema Exclusivo de Beneficio Definido (SEBD) es...

March 3, 2023
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03Mar

US. Congress Moves to Block Investment Rule, Setting Up Veto Fight

Congress on Wednesday cleared a measure to block a Labor Department rule that allows retirement plan managers to incorporate climate and social considerations into their investment decisions, setting up a veto fight with President Biden over an otherwise obscure regulation that has become a flash point in the culture wars. The Senate passed the resolution by a vote of 50 to 46 after two Democrats, Senators Jon Tester of Montana and Joe Manchin III of West Virginia, joined every Republican....

March 3, 2023
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03Mar

France’s controversial pension reform bill arrives in Senate

Debate over French President Emmanuel Macron’s contested pension reform legislation starts Thursday in the Senate, where the right – which controls the chamber – is expected to treat the text more favourably than opposition parties did in the National Assembly a fortnight ago. The government is banking on support from Senators belonging to the conservative Les Republicains (LR) party, who favour raising the minimum legal retirement age from 62 to 64, and having citizens work longer to obtain a full...

March 3, 2023
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03Mar

Zimbabwe: NRZ Pensioners Earning U.S.$3 Monthly Pay Outs

Retired National Railways of Zimbabwe (NRZ) workers are receiving a meagre monthly pension pay out equivalent to around US$3 per month despite decades of investing their labour into the growth of the company. Speaking to NewZimbabwe.com Wednesday on condition of anonymity, one pensioner said the National Railways of Zimbabwe Contributory Pension Fund (NRZCPF) is paying out very mean amounts which are wiped out by bank charges. "Early this year the pension pay outs were increased from around ZW$2 000 to ZW$3...

March 3, 2023
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03Mar

Australia’s DIY pension funds lose millions on crypto bets

Thousands of Australians who used do-it-yourself (DIY) pension funds to bet on cryptocurrencies face hundreds of millions of dollars in losses, jeopardising their savings in a scheme originally set up to ensure adequate retirement income. These risky bets are possible as DIY or self-managed superannuation funds (SMSFs) fall outside the remit of the prudential regulator that oversees professionally managed funds, thereby allowing them to invest with fewer restrictions. DIY pension funds account for a fourth of Australia's A$3.4 trillion ($2.29 trillion)...

March 3, 2023
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03Mar

Egypt. President announces raising minimum wage, pensions

Egypt’s President Abdel Fattah Al-Sisi announced raising the minimum wage for government employees to EGP 3,500 and raising pensions by 15% starting 1 April. The Egyptian president announced raising the minimum wage for government employees holding a Master’s degree to EGP 6,000 and to EGP 7,000 for those holding a PhD. President Al-Sisi also said that income tax exemption was raised to EGP 30,000 annually, up from EGP 24,000. He also revealed that Takaful and Karama Cash Transfer Programme benefits were also...

March 3, 2023
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02Mar

Chile. Las AFP subieron sus ganancias a US$ 539 millones en 2022

Las AFP cerraron 2022 con ganancias por US$ 539 millones, según datos publicados por la Superintendencia de Pensiones. La cifra representa un incremento de 8% respecto del año anterior, destacando los resultados informados por las AFP Planvital y UNO, con ganancias 42,2% y 44,5%, respectivamente, superiores este año en comparación con 2021. En el caso de Planvital, esto significó cerrar el año con ganancias por U$$42 millones, frente a US$30 millones el periodo anterior; y el el caso de UNO,...

March 2, 2023
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02Mar

¿Cómo reformar las pensiones en Colombia? Fedesarrollo presenta su propuesta

Fedesarrollo presentó este miércoles su visión acerca de hacia dónde debería ir una reforma pensional en el país. De acuerdo con el Ministerio de Trabajo, la pensional (al igual que la laboral) son reformas que entrarán al Congreso el 16 de marzo. Para llegar a la construcción de este texto, el Gobierno ha adelantado reuniones con los participantes del ecosistema pensional. Y, si bien hasta el momento no se conoce un articulado específico de esta propuesta, sí se conocen los lineamientos...

March 2, 2023
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02Mar

México. Mujeres deben ahorrar más para su retiro

Ellas tienen una menor cantidad de dinero acumulado en su cuenta de ahorro para el retiro en comparación con los hombres. ¿Cuánto deben ahorrar las mujeres para su retiro? Durante marzo se conmemora el Día Internacional de la Mujer, fecha en el que se distingue la lucha por la igualdad, no obstante ellas mantiene disparidad frente a los hombres cuando se habla de ahorro para el retiro. Cifras de la Comisión Nacional del Sistema del Ahorro para el Retiro (Consar) a...

March 2, 2023
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02Mar

US. State pension fund officials are getting flown business class to Japan and taking ‘White Lotus’ style Italy trips on private equity’s dime

Two Michigan pension fund officials attended a 2018 Apax Partners event at the Four Seasons Hotel in Florence, Italy, that featured “custom tailored activities and itineraries,” including tours of the Tuscan countryside on vintage Vespa scooters and a gala dinner at the 17th Century Villa le Corti. The bill for the state: less than $200 for each official, according to public records obtained by Bloomberg. And Michigan is hardly alone in letting private equity firms foot most of the bill...

March 2, 2023
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