November 2019

18Nov

Australian Pension Giants Join Global Push Into Private Credit

Australian pension funds are stepping up direct lending to companies, following their global peers into the booming market for private credit in a hunt for higher-yielding assets. UniSuper, IFM Investors and First State Super -- all giants in the nation’s A$2.9 trillion ($1.9 trillion) retirements savings pool -- are turning to the loan markets, taking on credit mandates or building out their own investment teams. Banks are “starting to exit some of these sectors, which creates a capital need for other...

November 18, 2019
News, Slider
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18Nov

Dutch government tries to avoid cuts to pension payouts

The Dutch government is trying to avert a crisis in the country’s €1.6tn pension industry, with millions of pensioners facing cuts in their retirement income for the first time next year. Trade union and pension fund officials expect the Dutch government to intervene this week with measures to avoid significant cuts to many people’s retirement income by loosening the sector’s strict funding rules, at least temporarily. The Netherlands is widely considered to have one of the world’s best-funded and most generous...

November 18, 2019
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15Nov

Operational Risk Modeling in Financial Services: The Exposure, Occurrence, Impact Method

Patrick Naim, Laurent Condamin Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade's use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth...

November 15, 2019
Books, Investing, ,
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15Nov

Financial Behavior: Players, Services, Products, and Markets

By University Professor of Finance and Kogod Research Professor H Kent Baker, Samuel P Black III Professor of Finance and Risk Management Director Black School of Business Greg Filbeck, Assistant Professor of Financial Management Victor Ricciardi Financial Behavior: Players, Services, Products, and Markets provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. The book offers a different way of looking at financial and...

November 15, 2019
Books, Labor Market, Pension Management, System Sustainability,
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15Nov

How Best to Annuitize Defined Contribution Assets?

Alicia H. Munnell, Gal Wettstein, Wenliang Hou Unlike defined benefit pensions that provide participants with steady benefits for as long as they live, 401(k) plans and Individual Retirement Accounts (IRAs) provide little guidance on how to turn accumulated assets into income. As a result, retirees have to decide how much to withdraw each year and face the risk of either spending too quickly and outliving their resources or spending too conservatively and consuming too little. Surveys of individuals’ plans...

November 15, 2019
Articles, Investing, Savings,
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15Nov

Fiscal Incidence in Moldova: A Commitment to Equity Analysis

By Alexandru Cojocaru, Mikhail Matytsin, Valeriu Prohnitchi T his paper uses methods developed by the Commitment to Equity Institute and data from the Household Budget Survey to assess the effects of government taxation and social spending on poverty and inequality in Moldova. The paper presents the first detailed distributional analysis of the tax and expenditure sides of the fiscal system, examining in particular the contribution of different taxes and transfers to poverty and inequality reduction in Moldova, as well as...

November 15, 2019
Articles, Pension design, , ,
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15Nov

Social Pensions and Market Values: A Conflict?

By Quentin Detienne, Elmar Schmidt Social occupational pension schemes, i.e. compulsory pension schemes that are the result of collective bargaining, fulfil an important social function. At the same time, they seem to conflict with some fundamental single market tenets, such as the European Union (EU) Single Market’s four fundamental freedoms and competition law principles. In this respect, occupational pension schemes in the Member States seem to embody the inherent tensions contained within the EU’s social market economy: a clash...

November 15, 2019
Articles, Pension design, ,
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15Nov

Prevén crisis global en sistemas de pensiones

Estados Unidos, China y otras economías líderes se enfrentan a un déficit de financiación de US$15,8 billones en 2050 para garantizar apoyo económico de por vida a sus poblaciones en envejecimiento. Esto es lo que dice un informe encabezado por el expresidente de la Autoridad de Servicios Financieros del Reino Unido, Adair Turner, para el prestigioso Grupo de los 30, integrado por actuales responsables de política y otros ya retirados. (¿Por qué el Bundesbank recomienda subir la edad de...

November 15, 2019
Noticias,
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15Nov

Protestas en Chile: cómo funcionan los sistemas de pensiones en el país sudamericano y en otras naciones de América Latina

"Queremos jubilaciones dignas" es una de las consignas que aparece una y otra vez en las protestas que comenzaron en Chile a mediados de octubre, cuando el alza de la tarifa del metro de Santiago detonó el mayor estallido social de las últimas tres décadas en ese país y puso en jaque al gobierno de Sebastián Piñera. Aunque las demandas son muchas, uno de los principales reclamos de la población apunta directamente al sistema de pensiones, según una encuesta...

November 15, 2019
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15Nov

Sura Asset Management adoptará prácticas ambientales

Sura Asset Management se convirtió en signatario de los Principles for Responsible Investment (PRI), con lo que se compromete a adoptar prácticas en temas de inversión ambiental, social y de gobierno corporativo (ASG). “Lo que nos permite esta firma es continuar avanzando y madurando los procesos de inversión ASG, porque toma tiempo adaptarnos y le daremos más prioridad a este tipo de inversiones”, explicó Juan Camilo Osorio, vicepresidente de inversiones en Sura Asset Management. Lee también México. Afores...

November 15, 2019
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