August 2019

30Aug

México.Consar reportó rendimiento de 280 mmdp en ahorro de trabajadores

El ahorro de los trabajadores registró una plusvalía, es decir, un rendimiento, de 280 mil 926 millones de pesos en los primeros seis meses del año, reveló la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). En su informe al Congreso, correspondiente al segundo semestre del año, el organismo regulador informó que dicha plusvalía equivale a 7.6 por ciento de los recursos administrados por las Afore y es el mejor resultado en los últimos años, para un...

August 30, 2019
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30Aug

UK universities’ pension funding hole doubles to £6.6bn

Hundreds of thousands of members of the £72bn Universities Superannuation Scheme face the threat of a further rise in their pension contributions after the plan’s managers revealed a funding hole had nearly doubled to £6.6bn. Read also UK universities brace for strike action in pensions dispute About 198,000 active members of the USS, the UK’s largest private sector pension plan, are making monthly payments of 8.8 per cent of their salary towards their pensions, which promise an inflation-proofed retirement income...

August 30, 2019
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30Aug

Colombia. Ahorro pensional en las AFP alcanza nuevo máximo y se ubica en $260 billones

En los primeros seis meses del año, los recursos de los afiliados en los fondos de pensiones obtuvieron rendimientos por $22 billones y alcanzaron un máximo histórico al llegar a un monto total de $260 billones. “En la mitad del año vemos unas rentabilidades supremamente buenas. Basta ver hace un año, en ese primer semestre, los rendimientos fueron de $2,2 billones, y este año vemos esa cifra 11 veces mayor, recursos totalmente propiedad de los trabajadores, y que...

August 30, 2019
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30Aug

Argentina. El Gobierno amplió el Presupuesto en $ 24.788 millones

El Gobierno volvió a ampliar los gastos del Presupuesto Nacional. A través de la Decisión Administrativa 732/2019, publicada en el Boletín Oficial, incrementó los gastos en $ 24.788 millones, de los cuales una parte -$ 8.250 millones- se financiaron con recursos propios. El resto -$ 16.538 millones– aumentó el déficit fiscal que se cubrió con más endeudamiento. Distribuida en 270 planillas, hay un aumento general de gastos, a la vez que se incorporaron como fuentes de financiamiento diversos préstamos...

August 30, 2019
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30Aug

Singapore. Pension reforms can boost equity market, bridge wealth gap

FUNDAMENTAL reforms to Singapore's pension system can serve to bridge income inequality as well as revive its public equities market. Continued lack of reforms will worsen the wealth gap and the retirement adequacy of its ageing population, as well as ability to sustain itself as a financial and commercial centre. Singapore's equity markets are somewhat dysfunctional relative to international best practices - pension assets are not deployed to support local capital markets but often invested abroad via GIC. Through...

August 30, 2019
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30Aug

Prudential Financial announces leadership succession for U.S. Businesses

Andrew Sullivan to lead growth-oriented and purpose-driven U.S. leadership team focused on accelerating financial wellness strategy Prudential Financial, Inc. (NYSE:PRU) today announced that Andrew Sullivan will succeed Stephen Pelletier as executive vice president and head of U.S. Businesses, reporting to Chairman and CEO Charles Lowrey, effective December 1. Pelletier will retire following an extraordinary 27-year career with the company, in which he led Group Insurance and Prudential Annuities, and founded Prudential’s international asset management businesses, now PGIM Global Partners....

August 30, 2019
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30Aug

Ontario Teachers’ COO Leaves to Spearhead United Nations Pension Fund

Ontario Teachers’ Pension Plan Chief Operating Officer Rosemarie McClean announced this week that she will be leaving the pension after a 33-year tenure to serve as the chief executive officer of the United Nations Joint Staff Pension Fund. McLean will succeed Janice Dunn Lee, the acting CEO for the UN pension. In her position at OTPP, McClean leads all operational activities, including management of financial operations for the pension’s investments and portfolio management activities, information technology, process improvement, and...

August 30, 2019
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29Aug

México. Establecen criterios sobre comisiones de Afores

La Secretaría de Hacienda y Crédito Público (SHCP), a través de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), y escuchando los planteamientos de la Asociación Mexicana de Administradoras de Fondos para el Retiro (Amafore), emitió un acuerdo que establece las políticas y criterios que guiarán a la Junta de Gobierno de esta Comisión para la autorización de las comisiones que cobren las Administradoras de Fondos para el Retiro (Afore) por la gestión y administración de...

August 29, 2019
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29Aug

UK. Defined benefit transfer values hit record high

Defined benefit transfer values reached record highs in August, according to data from XPS Pensions. In an update issued today (August 28), the consultancy firm said its transfer value index reached an all-time high of £258,200 on August 21, which compares to £247,400 at the end of July. The increase was largely driven by a significant fall in gilt yields during August, partially offset by a small fall in inflation expectations, XPS stated. At the same time, the consultancy firm saw an increase in the...

August 29, 2019
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29Aug

Romania’s public deficit rose by 52 pct in January-July on soaring wage, pensions spending

Romania’s budget deficit rose by 52 percent in January-July compared with the first seven months of last year, to RON 18.1 billion (EUR 3.8 billion), as the government has major difficulties to cover soaring wage and social spending. In January-July 2018, the budget deficit amounted RON 11.9 billion. Official data show that budget revenues rose by 12 percent year-on-year in January-July up to RON 180.07 billion (EUR 37.9 billion) while expenses increased by 14.7 percent to RON 198.2 billion. The general budget...

August 29, 2019
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