February 2023
21Feb

Chile. Herencias: las AFP entregaron en 2022 un monto récord de US$249 millones a familias de afiliados fallecidos

Todo lo que ahorran las personas en su AFP luego se puede transformar en pensión, en excedentes de libre disposición, o en herencia en caso de que el afiliado siga con saldo en la AFP al momento de fallecer. Y en el último tiempo, los montos que han entregado las AFP en herencia a familiares o beneficiarios de afiliados fallecidos han venido creciendo. Es más, si bien en 2021 ya se había entregado una cantidad récord, en 2022 se superó...

February 21, 2023
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21Feb

UK urged to curb pension freedoms to boost workforce

Ministers seeking to boost the UK’s workforce should crack down on pension freedoms and tax breaks that encourage wealthy people to retire early, according to an influential think-tank.   In a report on Tuesday, the Resolution Foundation set out a series of measures aimed at tackling the post-coronavirus pandemic rise in economic inactivity. That is now a crucial focus for Chancellor Jeremy Hunt, as he looks for ways to improve the UK’s growth prospects in his Budget on March 15.   Hunt has...

February 21, 2023
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21Feb

Kenya. Administrator welcomes NSSF contribution rise, urges simple opt-out process

Pension administrator Enwealth has welcomed the move to increase retirement savings contributions through the National Social Security Fund (NSSF) Act 2013. Early this February, the Court of Appeal quashed a judgment by an Employment and Labour Relations Court that declared the NSSF Act 2013 unconstitutional. While the Act recommended a monthly deduction of Sh200 to Sh600 for lower earners, top earners will be deducted Sh320 to Sh1,080 on a graduated scale. Increased contributions seek to ensure financial security for the retirees. However, the...

February 21, 2023
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21Feb

ESG: EU Regulatory Change and Its Implications

Despite the sharp change in the financial landscape over the past year and an increasingly challenging macroeconomic climate, investment focused on environmental, social and governance (ESG) factors is set to grow. Global ESG assets may reach $50 trillion by 2025, one-third of the projected total assets under management globally, from $35 trillion in 2020. [1] Climate-related challenges, in particular, have come to the fore given the experience of unprecedented heat waves in parts of Europe, forest fires in the...

February 21, 2023
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21Feb

Test case could land Indigenous Australians early age pension

A legal test case could result in Indigenous Australians accessing age pension payments three years early, as a Wakka Wakka elder argues he should qualify sooner because his life expectancy is lower. Dennis James Fisher’s legal team, led by Ron Merkel, KC, argue Indigenous men such as their client, who was born in 1957, do not have the same opportunity to retire and receive the same age-pension support as other Australians. Australian Bureau of Statistics figures show that in 2015–17, the...

February 21, 2023
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20Feb

México. SCJN falla a favor de la Consar; gana juicio de amparo contra una siefore

Por mayoría de votos, la Comisión Nacional del Sistema del Ahorro para el Retiro (Consar) ganó un juicio de amparo a una sociedad de inversión especializada de fondos para el retiro (siefore) que alegaba inconstitucionalidad y falta de seguridad jurídica en la aplicación de una multa, informó la Suprema Corte de Justicia de la Nación (SCJN). En este sentido, la Consar detectó inconsistencias en el actuar de la administradora de fondos para el retiro (afore), encargada de la siefore en...

February 20, 2023
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20Feb

Perú. AFP: plantean reforma previsional que garantice pensión mínima

La Asociación de AFP (AAFP) presentó esta semana una propuesta de reforma del sistema de pensiones que garantice una pensión mínima para todos los peruanos, destacando la importancia del sector privado en la gestión de los fondos y la asesoría a los afiliados. El gremio propuso incluir a los trabajadores independientes e informales y mejorar las pensiones, toda vez que actualmente solo tres de cada 10 trabajadores tendrán acceso a pensión. Este planteamiento, que premia el esfuerzo de ahorro, base fundamental...

February 20, 2023
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20Feb

Asia’s population is shrinking faster than any other continent’s.

Asia faces a problem: Its population is aging faster than any other continent’s. A growing percentage of people in Japan, South Korea and China are over 65, and those countries’ economies are suffering because of a lack of available workers. Governments are struggling to find the money to support retirees. The problem is pronounced in Japan. I spoke to Motoko Rich, The Times’s Tokyo bureau chief, about what it means when a society ages this quickly. Claire: You’ve reported on the...

February 20, 2023
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20Feb

69% of Workers Plan to Hold Down a Job in Retirement. For Many of Them, That’s Not a Choice.

Many of us are used to grinding out way through a job for many years because, well, that's sort of what we have to do. But it's also easy to see why the idea of working in retirement is unappealing to a lot of people. After all, you've held down a job your entire life. You deserve to enjoy a stretch of time when work doesn't come into the picture. But unfortunately, a large number of workers today may end up...

February 20, 2023
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20Feb

Social Security Benefits: The Good and Bad News for Retired Workers in 2023

Social Security is a major source of financial well-being in retirement. Nearly 49 million retired workers received benefits in January, and about half of people aged 65 and older get at least 50% of their family income from Social Security. Given its importance, retired workers should try to stay informed on the program, and there have been several big changes already this year. Inflation scorched the U.S. economy last year, driving up the cost of gasoline, groceries, and other necessities...

February 20, 2023
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