April 2020

Dimensions of Human Resource Management Evolved with the Outbreak of COVID-19

By Jyoti Koirala, Suman Acharya The COVID-19 can be blamed for the greatest workplace transformations after 2020. This outbreak in this 21st century will break the existing system i.e. working, exercising, shopping, communicating, educating, and learning. This change will slowly force the organization to make modification to our human resource policies and strategy. The point need to be noted that this “social distance” is the change factor that created in the history for transformation. The work from home is...

Does Retirement Affect Voluntary Work Provision? Evidence from England, Ireland and the U.S

By Peter Eibich, Angelo Lorenti, Irene Mosca Voluntary work is an important contribution for many non-profit organizations, such as charities, political and religious organizations. Older individuals make up a sizable share of the volunteer workforce, and volunteering is often regarded as an example of "active ageing". In this study, we examine whether retirement has a causal effect on the frequency of voluntary work provision in three English-speaking countries - England, Ireland and the U.S. We draw on data from...

Labor Markets During the Covid-19 Crisis: A Preliminary View

By Olivier Coibion, Yuriy Gorodnichenko, Michael Weber We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million lost jobs by April 8th, far more than jobs lost over the entire Great Recession. Second, many of those losing jobs are not actively looking to...

España. La Seguridad Social asume la gestión de las pensiones de más de 637.000 funcionarios de clases pasivas

El Gobierno aprovechó el real decreto de medidas laborales y fiscales para paliar los efectos de la crisis aprobado este martes para algo que, en teoría, no tiene que ver con el Covid-19. En concreto, para iniciar el traspaso de la gestión de las pensiones de los funcionarios civiles y militares (Régimen de Clases Pasivas) desde el Ministerio de Hacienda –donde han estado siempre hasta ahora– al nuevo Ministerio de Inclusión, Seguridad Social y Migraciones. Varias disposiciones adicionales de...

AFP: ¿Cuánto dinero habrían perdido los fondos de pensiones en medio de la pandemia?

Los mercados financieros continúan en incertidumbre debido a la expansión del coronavirus en el mundo generando la paralización de más de 200 países. Desde marzo las bolsas mundiales se han desplomado a niveles similares a los registrados durante la crisis del 2008. Ante esta situación, los fondos de ahorro administrados por las AFP también han sufrido grandes perdidas debido a que parte de los aportes de sus afiliados son invertidos en el mercado internacional. Leer también México. Citibanamex y...

UK government plans to grant phone-hacking powers to the Pensions Regulator (and others)

UK ministers want to extend the Investigatory Powers Act, better known as the Snooper’s Charter, even further, according to draft legislation that would gift phone-hacking and web-history combing capabilities to five new public bodies, in addition to the more than 50 that already have access to the sprawling surveillance powers. Read also UK. Coronavirus crisis hits occupational pension schemes The bodies poised to receive new comms-hacking powers are a motley crew consisting of the Pensions Regulator, the Civil Nuclear Constabulary...

Tesla appoints former head of Japan’s Government Pension Investment Fund to its board

Tesla has appointed Hiromichi (Hiro) Mizuno, former head of Japan’s Government Pension Investment Fund, to the board of directors. Today, Tesla announced that its board has authorized the number of directors on the Board of Directors to increase from nine to 10 in order to appoint Mizuno. Mizuno was executive managing director and chief investment officer of Japan’s Government Pension Investment Fund until last month. He was recently praised by Tesla CEO Elon Musk when he...

Coronavirus will make US cities feel the pressure of pension debt

Municipal pension debt is among the many aspects of the economy that have been severely impacted by the coronavirus pandemic. COVID-19 not only exposes, but also further threatens the already-weak fiscal health of municipal retirement plans. Inaction on this front could mean insolvent pension plans dragging some of the nation’s largest cities into bankruptcy. After all, when the stock market takes a hit, so do pensions. This is because most of the typical pension funds’ income is from returns...

Asofondos: AFP en Colombia están en capacidad de responder por pensiones de sus afiliados

Ante algunos comentarios mal infundados en la opinión pública relacionados con el decreto 558 aprobado por el Gobierno Nacional y el alcance de este, la Asociación Colombiana de Administradoras de Fondos de Pensiones y de Cesantía (Asofondos) reiteró que no solicitó el traslado a Colpensiones de un pequeño grupo de pensionados y de su fondo de pensiones. Leer también España. La Seguridad Social asume la gestión de las pensiones de más de 637.000 funcionarios de clases pasivas El gremio tampoco...

Ghana’s Social Protection And Public Choices In The Days Of Covid-19

We cannot know how society protects its weakest and vulnerable, those at the bottom of society from deprivation until a catastrophe such as COVID-19, the 'unseeable, undead, unliving blob', to use the words of Arundhati Roy, is unleashed on us. Read also South Africa. The dichotomy between what pension scheme members want and what they get Ghana has a sub-optimal social protection system, its inadequacy due to our informal and poor information system. COVID-19 has amplified these weaknesses, unleashing a...