February 2023
14Feb

South Korea. Busan turns to attracting crypto to tackle its ageing population

A catastrophic period for cryptocurrency is not stopping South Korea’s second-largest city from betting that digital money will solve a major problem: having one of the greyest populations in one of the world’s fastest-ageing nations. Busan, a port on the south-eastern coast of the Korean peninsula, is seeking to become a global cryptocurrency hub because its planners believe that embracing virtual tokens will bring more young people to its streets. It is setting up a publicly run exchange for digital...

February 14, 2023
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13Feb

México. ¿De dónde sale el dinero para cubrir los gastos de la vejez?

Las generaciones de trabajadores han cambiado de estructura en el ahorro para el retiro. Mientras para los nacidos entre 1928 y 1945 las aportaciones del gobierno representaban el 81% del dinero para su vejez, para los más jóvenes este rubro apenas equivale al 54 por ciento. El dinero que cubre la vejez de las personas de la generación silenciosa (1928-1945) provenía casi en su mayoría del gobierno, este rubro era el 81% del total, de acuerdo con cifras de la...

February 13, 2023
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13Feb

España ahorra en planes de pensiones siete veces menos que la media OCDE

España no es un país de ahorradores en fondos ni planes de pensiones. Al menos, no en comparativa con la media de otras economías desarrolladas. Los activos que suman en pensiones privadas los españoles alcanzan el 14,3% del Producto Interior Bruto (PIB), siete veces menos que la media de la OCDE, que supera el 105% del PIB. Las constantes restricciones en las deducciones fiscales, además de una reforma que dilapida los planes individuales sin terminar de asentar aún los...

February 13, 2023
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13Feb

US. Attention to ESG grew in 2022 along with headwinds

It is tricky to say which was a more volatile issue in 2022 for public pension funds operating under ESG principles — the politics or the markets. They managed to navigate both, and this year many of them are even ratcheting up their sustainable investing agendas. Some, like the $61.4 billion Maryland State Retirement and Pension System, Baltimore, took a page from the largest U.S. funds that added ESG specialists for their investment divisions. Although Maryland CIO Andrew Palmer first formed...

February 13, 2023
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13Feb

UK. FCA places restrictions on IFA over misappropriation of client funds

The Financial Conduct Authority has placed a number of restrictions on an independent advice firm over concerns its sole director may have misappropriated 1 5mn of a client s funds Campbell & Associates, based in West Wellow, Romsey, had the restrictions imposed on it last week (February 9), and is now prevented from carrying out any regulated activity and cannot reduce the value of its assets without the FCA’s consent. Lisa Maureen Campbell is listed as the sole active director of...

February 13, 2023
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13Feb

China. Legislative steps being taken to protect elderly

China's legislature has accelerated the creation of legislation aimed at the elderly over the past few years in a bid to bolster protection and respond to a rapidly aging population. The latest National Bureau of Statistics data showed that by the end of last year, China's population aged 60 and above exceeded 280 million, making up 19.8 percent of the national total. The National Health Commission estimates that this figure will grow to over 400 million by 2035, accounting for more...

February 13, 2023
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13Feb

Sri Lanka’s economic crisis leaves elderly homeless and penniless

When Kiri Banda retired from his job as a cook in the Sri Lankan capital, Colombo, he hoped for a peaceful old age living with his son. But with his medical bills straining household finances last year, he decided it was time to move out. “I didn’t want to be a burden,” says Banda, who spends his days begging or searching for food and sleeps on a bench in a public park. It is an increasingly common sight since Sri Lanka...

February 13, 2023
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10Feb

Proponen otro retiro de fondos en Perú, ahora para pagar deudas

Un nuevo proyecto de ley permitiría retirar hasta la mitad de los fondos de las Administradoras de Fondos de Pensiones (AFP), ¿de qué trata? Esta iniciativa autorizaría la disponibilidad de hasta el 50% de los fondos previsionales con el objetivo de cancelar deudas contraídas por el afiliado en el sistema financiero. La medida, planteada por el grupo parlamentario Podemos Perú, propone que esta liberación esté destinada al pago de préstamos personales, tarjetas de crédito u otro financiamientos adquirido en entidades bancarias...

February 10, 2023
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10Feb

España. La reforma de las pensiones se queda en punto muerto por falta de apoyo político

El ministro de Inclusión, Seguridad Social y Migraciones, José Luis Escrivá, sostuvo a mediados de semana que la segunda parte de la reforma de las pensiones se encontraba en el "tramo final". El responsable de la cartera transmitió buenas sensaciones a los medios tras reunirse con el Ejecutivo comunitario y apuntó a que "en las próximas semanas" podría concluir el proceso, ya que habían "avanzado mucho" en sus conversaciones con la Comisión Europea. Sin embargo, el optimismo de Escrivá...

February 10, 2023
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10Feb

Pension fund investors back climate risk lawsuit against Shell

Pension funds in the U.K. and Europe are backing a novel lawsuit against Shell PLC alleging that its directors breached their legal duties by failing to manage climate risk or plan for the energy transition. The lawsuit filed in the High Court of England and Wales Thursday by non-profit organization ClientEarth, a minor Shell shareholder, has the backing of institutional investors with a collective £450 billion ($550 billion) in assets and more than 12 million shares in the energy company. The...

February 10, 2023
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