August 2019

19Aug

México. Peligran pensiones de 48% de afiliados

El 48% de las cuentas administradas por las Afores está inactivo, por lo que la pensión para esos trabajadores peligra porque no alcanzarán a cubrir los requisitos de Ley. Las cuentas inactivas son aquellas que dejaron de recibir aportaciones durante tres meses consecutivos, una situación en la que están principalmente los trabajadores que abandonaron su empleo formal y se emplean en la informalidad, explicó Berenice Ramírez, catedrática de la UNAM y especialista en el tema de pensiones. De acuerdo...

August 19, 2019
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19Aug

South Africa should look to pensions instead of an IMF bailout: ANC

The ANC is looking at the possibility of using private and public pension funds to rescue the country’s struggling state-owned enterprises. In an interview with the Sunday Times Enoch Godongwana, head of the party’s economic transformation subcommittee, said that the asset management industry currently has R6 trillion under management which should be borrowed by government. Godongwana said using this approach to gather funds is better than going the International Monetary Fund (IMF) for a bailout. “Why would you go...

August 19, 2019
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19Aug

Australia warns retirees over heavily investing in cryptocurrency self-managed pensions

Australia warns retirees over heavily investing in cryptocurrency self-managed pensions The Australian Tax Office (ATO) has issued 18,000 warning letters to investors of self-managed super funds (SMSFs) for concentrating the majority of their retirement savings in cryptocurrencies, according to local news outlet Micky. In its letter, the office said that retirees have a “duty to comply with legal requirements to adopt investment strategies avoiding risky investments.” Non-compliance could see them face a fine of up to AU$2,400 (US$2,852). As...

August 19, 2019
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19Aug

UK. Fury as plan to work to 75 raises risk of death before retirement, pensioners say

A new report by the Centre for Social Justice (CSJ), fronted by former Tory leader Iain Duncan-Smith, has proposed accelerating plans to increase the state pension age in order to boost the UK economy. The influential think-tank has hit out at the financial burden of the ageing population on public funds, and insists thousands of people aged 50 to 64-years-old are deemed “economically inactive”. One pensioners' group claimed the decision would mean more people would die before they reached...

August 19, 2019
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19Aug

Baby boomers win ‘the demographic lottery’ as wealth inequality grows

Young Australians are being locked out of a "generational bargain" as the wealth gap between children and their parents soars, new figures show, as the government prepares the terms of reference for its landmark retirement income review. The review, recommended by the banking royal commission, is likely to dominate the government's agenda next year as Treasurer Josh Frydenberg draft the terms of reference for the all-encompassing inquiry into pensions, superannuation, aged care funding, housing and the equity of taxpayer...

August 19, 2019
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19Aug

Japan. World’s largest pension fund promotes ESG and performance-based fees

The largest pension fund in the world has been clarifying its sustainability goals in the last few years and fund managers ought to take note, as it is an initiator and it is working with other large asset owners. Read also Japan’s Pension Fund Warns of Global Investing Losses On Tuesday, CalPERS's investment committee will hear a keynote presentation from Hiro Mizuno, executive managing director and chief investment officer of the Japanese Government Pension Investment Fund (GPIF). He will present...

August 19, 2019
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16Aug

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

By Ford Foundation International Professor of Economics and Director Poverty Action Lab Abhijit Banerjee, Esther Duflo Two practical visionaries upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based...

August 16, 2019
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16Aug

Delaying Retirement: Progress and Challenges of Active Ageing in Europe, the United States and Japan

Dirk Hofacker, Moritz Hess, Stefanie Konig To a backdrop of ageing societies, pension crises and labour market reforms, this book investigates how the policy shift from early retirement to active ageing has affected individual retirement behaviour. Focusing on eleven European countries, the United States and Japan, it brings together leading international experts to analyze recent changes in pension systems. Their findings demonstrate that there has been a fundamental transition in pension policies and a steep increase in...

August 16, 2019
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16Aug

Performance and Challenges of the Income Protection System for Older People in Ecuador

By Ignacio Raul Apella The purpose of this work is to analyze the performance of the Ecuadorian pension system, its challenges, and available policy options. Therefore, the study analyzes coverage, financing sufficiency, and sustainability indicators that were created based on information from the Encuesta Nacional de Empleo, Desempleo y Subempleo (National Employment, Unemployment and Underemployment Survey) that was carried out over 2003-16. Likewise, actuarial simulations are made by using the World Bank pension reform options simulation toolkit. The findings...

August 16, 2019
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16Aug

The Effect of Pension Growth on the Labor Force Participation of Pensioners in Russia

By Victor Lyashok This paper examines the impact of the 34% increase in pensions in Russia at the end of 2009 and the beginning of 2010 on the labor market participation of pensioners. Several particular features of the pension system in Russia allow us to estimate the net effect of income from such a reform. For evaluation, we used a method combining difference-in-difference and regression discontinuity methods. The results showed that real pension growth by a third reduced labor...

August 16, 2019
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