May 2020

UK. Women in lower-grade jobs hit by pension change ‘at greater risk of depression’

Women in lower-grade occupations forced to work up to six years longer because of changes to the state pension age are a third more likely to suffer debilitating, potentially permanent, depression, research has found. The changes to the state pension age (SPA) have also resulted in a widening gap in health between women from different occupations, according to a paper by academics at King’s College London. “Our research is important because we know that worsening mental health will lead...

Some insights from the ‘United Kingdom 2020: Workplace Pensions Consumer Study’

The "Workplace Pensions Consumer Research Report 2020" report has been added to ResearchAndMarkets.com's offering. 55% of all consumers have a workplace pension Over half of all consumers have a workplace pension and among consumers with workplace pensions, most (51%) have a defined contribution (DC) pension with just over four-in-ten owning a final/career average pension. 85% of adults with a workplace pension have a pension with their current employer, with 15% having legacy pensions from previous employers. This report is...

Millennials step into caregiving roles for aging parents

Millennial women already caring for aging parents or planning to do so are much more stressed about the caregiving responsibility than men, a new poll reveals. CaringAdvisor found 1 in 2 Millennials planning to care for aging parents say they want to do it. However, guilt was the biggest motivator, with about two-thirds admitting they’d feel guilty if they didn’t care for parents themselves. Women were more than two times as likely as men to be “extremely stressed” about...

Diputados de Chile Vamos apuntan sus críticas contra proyecto de la oposición para eliminar AFPs

Esta vez fueron los diputados de Renovación Nacional, Francisco Eguiguren, y de la UDI, Patricio Melero, quienes se refirieron al emplazamiento que hicieron más de 40 diputados de oposición en una declaración para discutir sobre un nuevo sistema de previsión. Esto, en respaldo al proyecto presentado por cinco senadores desde la DC hasta el Frente Amplio, que buscan derogar el Decreto Ley 3.500, que creó las AFPs en 1980, para dar paso a una nueva institucionalidad mediante el Instituto...

Stock market wipes out Kenyan pensioners’ $350m in just three months

Kenyan retirees lost over Ksh35 billion ($350 million) to falling stock prices and soaring inflation as the Covid-19 pandemic wreaked havoc on the country’s economy in the past three months. Read also Australia. COVID-19 has killed 12% superannuation A survey conducted by Zamara Consulting Actuaries covering 415 pension schemes with a total of Ksh852.4 billion ($8.52 billion) in assets under management shows that the returns on pensioners’ investments in the three months to March 31 dropped, prompting a shift from...

Covid-19 impact: Global pension funds pause India investment

Top global pension funds have suspended India investment plans until they come to grips with the damage Covid-19 does to global and local economies, and their portfolios stabilise amid extreme market volatility and uncertainty. Ontario Teachers’ Pension Plan (OTPP), Canada Pension Plan Investment Board (CPPIB), Australian Super and Caisse de Dépôt et Placement du Québec (CDPQ), among others, had slated billions of dollars in India directly, via private equity (PE) or other funds, but have either put plans on...

DB Funded Status Estimates Are Mixed in April

Firms that track defined benefit (DB) plan funded status reported a range of estimates for April—from a decrease of 0.1% to an increase of 4%, depending on the group of plans being tracked. The highest increase reported was 4% (to an 80% aggregate funding level), estimated by Mercer for pension plans sponsored by S&P 1500 companies. The firm says this was the result of an increase in equity markets, which offset a decrease in discount rates. As of April...

US. How COVID-19 Has Changed Retirement Planning

The global COVID-19 pandemic has touched virtually every aspect of our lives, not least of which is how we save for retirement. Forbes Advisor commissioned a YouGov survey of 9,675 U.S. adults to get a deeper read on how coronavirus has impacted retirement planning. The answers were surprising. With a near total lockdown on business activity in the U.S., we wanted to understand how people have begun to reorient their financial priorities. As Warren Buffett explained in the Berkshire...

México. Proponen que personas con enfermedades terminales puedan retirar recursos de su afore

La Comisión de Seguridad Social del Senado de la República analiza una iniciativa en la que se propone que, aquellos trabajadores con enfermedades terminales o desahuciados puedan sacar el dinero que tienen en su administradora de fondos para el retiro (afore), con el fin de que puedan enfrentar los gastos durante su enfermedad. “Es una iniciativa que va bastante avanzada, la idea es que, a las personas que estén desahuciadas se les permita retirar su ahorro para el retiro...

Chile. Superintendencia de Pensiones alista fondo que busca que las AFP inviertan en pymes

La Superintendencia de Pensiones alista un fondo permanente de unos 828 mil millones de pesos para invertir e inyectar liquidez a pequeñas y medianas empresas. El monto sería gestionado por una AFP pero intermediado por entidades financieras no bancarias, como factoring y fondos de inversión. El objetivo es además ofrecer condiciones favorables pero sin descuidar la rentabilidad para los afiliados a las AFP. Según consigna Cooperativa, la iniciativa ya está en desarrollo y podría estar listo en dos semanas,...