August 2019

12Aug

México. Esta es la razón por la que los trabajadores no ahorran en Afores

La falta de ahorro representa actualmente una amenaza a largo plazo para la vejez y las pensiones, pero los trabajadores en México no tienen dinero suficiente para ahorrar, reveló la Encuesta Nacional de Inclusión Financiera (ENIF) 2018, de la Comisión Nacional Bancaria y de Valores (CNBV) y del INEGI. Solo 5 por ciento de los trabajadores realizan aportaciones voluntarias a su cuenta para el retiro. “Desafortunadamente, la mayor parte de las pensiones de los trabajadores de menores ingresos proviene...

August 12, 2019
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12Aug

Chile. AFP colombiana que será adquirida por Habitat proyecta mayor crecimiento

El viernes pasado AFP Habitat sorprendió al mercado y anunció el acuerdo de adquisición de su par colombiana Colfondos por unos US$ 170 millones, lo que marca el ingreso de la administradora de fondos de pensiones de origen chileno al mercado colombiano. Para acometer la transacción, la AFP chilena que es co-controlada por ILC -el brazo de inversiones de la Cámara Chilena de la Construcción- y la compañía norteamericana Prudential Financial, llegó a un acuerdo con la firma bancaria...

August 12, 2019
Noticias,
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12Aug

UK. City urged to attach ‘climate risk’ reports to pensions

Britain’s biggest companies, investors and pension funds must come clean to investors on the financial risks they face due to the climate crisis, MPs have said. The environmental audit committee (EAC) has called for the City of London to face mandatory climate reporting within the next three years to avoid jeopardising hundreds of billions of pounds worth of pension savings. The cross-party committee of MPs criticised ministers for failing to take specific steps to drive forward climate disclosure plans,...

August 12, 2019
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12Aug

US. DOL Expands Retirement Plan Options For Smaller Businesses

The U.S. Department of Labor (DOL) has released a final rule which should make it easier for smaller businesses to provide retirement plans to their employees. According to the DOL, the rule will enable more small and midsize unrelated businesses to join forces in multiple employer plans (MEPs) that provide their employees a defined contribution plan such as a 401(k) plan or a SIMPLE IRA plan. Certain self-employed individuals also can participate in MEPs. In October 2018, the DOL...

August 12, 2019
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12Aug

UK. L&G in dash for all-in-one pension dashboard

Legal & General has jumped the gun on the government’s plans for a state-backed service enabling people to see all their pension entitlements on one web page and snapped up a private financial technology company attempting to provide a dashboard service. The insurer said it had bought the company behind My Future Now for an undisclosed sum and would be making its service available to customers and financial advisers. My Future Now was founded in Poole, Dorset, and enables...

August 12, 2019
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12Aug

Nigeria. Ibadan to host first pensioners’ radio in Africa

Oyo State Chapter of Nigerian Union of Pensioners’ (NUP) Radio station, “Pensioners Radio” will be commissioned in September by Governor Seyi Makinde. The union’s secretary, Comrade Segun Abatan, broke the news when the management of Oyo State Ministry of Information, Culture and Tourism, led by its Permanent Secretary, Dr. Bashir Olanrewaju, visited the Pensioners’ House at Jericho, Ibadan, to witness the test transmission of the radio station. Abatan said the radio station was the first of its kind in...

August 12, 2019
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12Aug

How Brexit Will Affect the UK Fintech Industry? Experts Answer

Back in 2016, there was a referendum that caused Brexit, which has since been affecting all spheres of British life. Would Brexit’s effects be positive or negative for the fintech industry in the United Kingdom? We asked experts from the London Fintech Week, the U.K. in a Changing Europe, the University of Nottingham and more. Meanwhile — and this should be underlined — a lot of experts declined to give comments on such a politically sensitive topic. While the...

August 12, 2019
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09Aug

Hello World: Being Human in the Age of Algorithms

By Hannah Fry If you were accused of a crime, who would you rather decide your sentence--a mathematically consistent algorithm incapable of empathy or a compassionate human judge prone to bias and error? What if you want to buy a driverless car and must choose between one programmed to save as many lives as possible and another that prioritizes the lives of its own passengers? And would you agree to share your family's full medical history if you were...

August 9, 2019
Books, Labor Market,
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09Aug

Crashed: How a Decade of Financial Crises Changed the World

By Adam Tooze In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees. Crashed is a brilliantly original...

August 9, 2019
Adequacy, Books, Investing, System Sustainability,
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09Aug

Unbelievable: ERISA’s Broken Promise

By Peter J. Wiedenbeck A central but generally neglected objective of federal regulation of pension and welfare benefit plans was to provide workers with accessible and reliable information on which to base their career and financial planning, thereby improving overall economic efficiency. But few workers are equipped with the skills needed to evaluate the costs and benefits of complex retirement saving or health care programs. For that reason ERISA, the Employee Retirement Income Security Act of 1974, requires disclosure...

August 9, 2019
Adequacy, Articles, Pension design, Regulation,
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