April 2020
17Apr

The challenges of social security in the world: a Latin American polaroid

By Nelson Dionel Cardozo This essay seeks to discuss the diagnoses of the so-called "pension crisis". In the literature we find a hypothesis that population aging and changes in employment markets will make the payment of public pensions unsustainable in the future. This is explained by the decrease in the number of workers and the increase in the number of older adults in the population pyramid. Thus, the arguments critical of this vision, which has become hegemonic in the...

April 17, 2020
Articles, System Sustainability,
Read more...
17Apr

Income and Wealth Shocks and Expectations during the COVID-19 Pandemic

By Tobin Hanspal, Annika Weber, Johannes Wohlfart In early April 2020 we conducted a survey on a representative sample of more than 8,000 US households to study the effect of the coronavirus crisis on household income and retirement wealth, households' expectations about the recovery, and the impact of the shock on individuals' economic choices. Wealth shocks are large across the population, but more pronounced for middle-age households and those higher in the wealth and income distributions. This contrasts with...

April 17, 2020
Articles, Labor Market, System Sustainability, , , ,
Read more...
17Apr

Chile. Corte rechaza solicitud de pensionada que busca financiar enfermedad pulmonar

La Corte de Apelaciones de Santiago dio a conocer este jueves su decisión de rechazar un recurso de protección presentado por Silvia González, una pensionada por invalidez que solicita a la AFP Habitat el retiro de sus fondos para financiar el tratamiento de una enfermedad pulmonar. El fallo del tribunal de alzada, firmado de forma unánime por las ministras Jessica González, María Rosa Kittsteiner y Gloria Solís, descartó que exista un actuar arbitrario por parte de la aseguradora al...

April 17, 2020
Uncategorized
Read more...
17Apr

Afores tendrán rezago en México por crisis de coronavirus

Mauricio Muñoz, experto en afores, aseguro que los fondos para el retiro de los mexicanos tendrán un rezago debido al coronavirus y al entorno económico que se está suscitando en el mundo, aunque se trata de una situación temporal. Explicó además que una vez terminada la crisis sanitaria las compañías llevarán a cabo inversiones más seguras posibles para que estos indicadores aumenten, por lo que el dinero de los derechohabientes no está en riesgo. Leer más @Heraldo de México

April 17, 2020
Uncategorized
Read more...
17Apr

IMF warns of global social unrest amid coronavirus pandemic

The International Monetary Fund warned the economic havoc caused by the coronavirus pandemic could spark further social unrest around the globe and urged governments to take steps to prevent the disturbances, according to a report. Read also Milliman analysis: Public pensions hammered by COVID-19 economic volatility, shedding $419 billion in market value in Q1 The organization cautioned that “some countries remain vulnerable to new protests, particularly if policy actions to mitigate the COVID-19 crisis are perceived as insufficient or as...

April 17, 2020
News, Slider, ,
Read more...
17Apr

Australia’s Morrison Wants Pensions to Fund Company Bailouts

Australia’s Prime Minister Scott Morrison wants the nation’s pension funds to take more action to cushion the blow from the coronavirus crisis. In an interview with the Australian Broadcasting Corporation’s 7:30 program Thursday night, Morrison said the nation’s A$2.95 trillion ($1.9 trillion) pension pot should be used to bail out companies as the government “is not the only economic actor in this event.” “I’d like to see the industry and broader superannuation funds playing a more active role in...

April 17, 2020
News, Slider, , ,
Read more...
17Apr

Milliman analysis: Public pensions hammered by COVID-19 economic volatility, shedding $419 billion in market value in Q1

Milliman, Inc., a premier global consulting and actuarial firm, today released the first quarter 2020 results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans. During Q1 2020, the overall funded ratio for these plans suffered the single largest quarterly drop in the history of the PPFI, decreasing from 74.9% to 66.0% between Jan 1 and March 31. Economic volatility from the COVID-19 pandemic resulted in a $419 billion...

April 17, 2020
News, Slider, Uncategorized, , , ,
Read more...
17Apr

Canada’s Pension Funds Prepare for Post-Virus World

Ontario Municipal Employment Retirement System has put a team in place to analyze what the world will look like in the post-pandemic era. The C$109 billion ($77 billion) pension fund is weighing everything from what it’ll look like when people go back to work to how different companies in its portfolio will fare, Blake Hutcheson said in a Canadian Club of Toronto virtual roundtable. “Sadly, some of our companies won’t make it, it’s just a fact,” said Hutcheson, who...

April 17, 2020
News, Slider, Uncategorized, ,
Read more...
17Apr

Public pension funds shouldn’t wait for a return to ‘normal’

By Anthony Randazzo The past few weeks have seen America’s leaders wrestle with the human costs of inaction in the face of the COVID-19 pandemic. And in the next few months, state and local leaders will have to step up again and act decisively to avoid the financial effects of this pandemic from creating long-term damage to their public sector retirement systems. Unlike the demographics most vulnerable to succumbing to the physical effects of the virus, those with the biggest cause...

April 17, 2020
News, OP Ed, Slider, , , ,
Read more...
16Apr

Banco Central de Chile amplía límites de inversión a fondos de pensiones

El Banco Central de Chile acordó el miércoles aumentar los límites máximos de inversión en activos alternativos para la mayoría de los fondos de pensiones en momentos en que busca contener el impacto en la economía de la crisis sanitaria por el coronavirus. El organismo modificó los niveles desde el fondo más riesgoso A hasta el D, mientras que dejó el E, más conservador, sin cambios. "Esta decisión se fundamenta en el objetivo de promover la diversificación de los...

April 16, 2020
Uncategorized
Read more...