April 2020

08Apr

España. El Gobierno rectifica: sí es compatible el cese por coronavirus con otras prestaciones

El BOE modifica los criterios de acceso para obtener el cese de actividad, en el caso de los autónomos afectados por la crisis del coronavirus. Hasta ahora no se permitía a los trabajadores por cuenta propia acceder a su paro, en el caso de que se estuviera cobrando una pensión de viudedad o cualquier otro tipo de prestación de la Seguridad Social. Este hecho afectaba especialmente a aquellos profesionales que estaban compatibilizando trabajo autónomo con la jubilación. El Decreto...

April 8, 2020
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08Apr

More Than 1 Billion Workers Face ‘Drastic’ Hit From Virus

The coronavirus outbreak is having a “deep, far-reaching and unprecedented” impact on employment, with more than 1 billion workers at high risk of a pay cut or losing their job, according to the International Labor Organization. With factories, schools and shops shuttered around the world, the Geneva-based body says lockdowns are affecting almost 2.7 billion workers. Within that, 1.25 billion are extremely vulnerable, mainly in hotels, food services, manufacturing and retail. Read also US. Some companies are cutting 401(k)...

April 8, 2020
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08Apr

COVID 19: Emerging Investment Risks for Pension Schemes

Daily policy initiatives by governments across the world who are desperate to avoid the worst ravages of an economic recession are fuelling a lot of the volatility in public markets with which investors are now sadly familiar. However, many pension funds have significant private market exposures through alternative investments. Those holdings are not immune to government intervention and pension funds should note the sometimes unexpected effect of policy changes. The Pensions Regulator’s COVID 19 guidance on 27 March advised...

April 8, 2020
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08Apr

Why Switzerland is struggling to guarantee pensions for the next generation

The Swiss pension system is complex, and is based on three so-called pillars: old-age and survivors’ insurance (known as the AVS), occupational pension planning (often referred to as LPP) and private saving for old age encouraged through tax breaks. This set-up enables risk-sharing and, although “unfortunately not perfect”, could be “a model for other States”, says Thomas Gächter, professor of social insurance law at Zurich University. Read also UK. Wakefield man who failed to claim pension gets...

April 8, 2020
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07Apr

Cost and past performance 2020 report

By EIOPA The European Insurance and Occupations Pensions Authority (EIOPA), has today published its second report on cost and past performance of insurance-based investments products (IBIPs) and personal pension products (PPPs) in the European Union. The report is published following a request from the European Commission to the European Supervisory Authorities to periodically report on the costs and past performance of retail investment products. This report provides an analysis of costs for 2018 and past performance for the period...

April 7, 2020
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07Apr

Chile. Asociación de AFP: los fondos previsionales no solucionarán una crisis como la actual

Los fondos de pensiones sintieron en marzo los efectos del coronavirus: los fondos de mayor riesgo, A y B, fueron los más afectados, con resultados de -16,49% y -13,53% respectivamente; los fondos C (-10,2%) y D (-7,22%) también reportaron resultados en rojo y hasta el más conservador de los cinco, el E, tuvo una caída, aunque más leve: -2,54%. Leer también Chile. Piden que se permita retirar hasta el 5% de los fondos de pensiones para sortear la crisis En...

April 7, 2020
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07Apr

México. ¿Vale la pena el riesgo en que se invierten los ahorros para la jubilación de los más jóvenes?

La fuerte caída de los mercados accionarios, la depreciación del tipo de cambio o la recesión económica mundial han impactado mayormente el fondo generacional del Sistema de Ahorro para el Retiro, pero en el largo plazo será el más rentable, indicaron especialistas financieros. Leer también México. Afores toman medidas para proteger la salud de los trabajadores De acuerdo con datos del New York Stock Exchange (NYSE), el Dow Jones registró una ganancia superior a dos mil por ciento en las...

April 7, 2020
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07Apr

Social protection responses to the COVID-19 lockdown in South Africa

Poor and vulnerable South Africans, including domestic, farm, service sector, and self-employed workers as well as children from poor families, face a double shock. COVID-19 is a major health risk that has already claimed tens of thousands of lives worldwide and is starting to claim lives in South Africa. Social distancing and self-isolation are necessary to slow the spread of the virus, and the 21-day lockdown is designed to “flatten the curve”. But the lockdown itself has consequences that...

April 7, 2020
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07Apr

Irish Demand for Social Benefits Soars as Coronavirus Bites

The number of people in Ireland dependent on social welfare income support amidst the coronavirus outbreak has soared to more than 700,000 based on numbers released on Monday by the Department of Employment Affairs and Social Protection. On April 3, 507,000 people were paid the COVID-19 Pandemic Unemployment Support payment, which is a weekly stipend of 350 euros ($377.93) for those who have lost jobs or had hours cut due to coronavirus disruption. That was in addition to 207,000...

April 7, 2020
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07Apr

Freezing A Defined Benefit Plan To Reduce Current Year Contribution Obligation

Defined benefit pension plans, including cash balance plans, require a contribution each year, which is primarily used to fund the benefits which participants accrue (i.e., earn) during the plan year. The annual required contribution may also include an amount needed to make up a shortfall in a prior year in the investment return on plan assets. In most defined benefit pension plans, a participant earns a benefit for a plan year after working 1,000 or more hours during that...

April 7, 2020
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