July 2019

05Jul

Chile watchdog reports decade-high pension savings returns

Assets under management in Chile’s private pension, or AFP, system hit a record of nearly US$219bn at the end of June following strong returns. The sum is equivalent to 77% of GDP. Three of the system’s five risk-based funds registered their best performances in a decade in H1, watchdog SP said in a statement. Each of the country's six AFPs manages five funds - A, B, C, D and E - which their members can choose from, with A being the highest risk and E the...

July 5, 2019
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05Jul

Pension reform prospects lift Brazil’s real, stocks

Brazil's currency and stocks rose on Thursday after a congressional committee in charge of analyzing the government's pension reform bill approved its main text. The draft bill, which analysts say is critical to improving Brazil's fiscal health and economy, could now be put to a lower house plenary vote before recess on July 18. Brazil's real hit a more than three-month high, while the Bovespa stock index surged 1.7% to...

July 5, 2019
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05Jul

Chile. Diputados aprueban informe sobre malas prácticas de las AFP en el otorgamiento de pensiones de invalidez

La Cámara de Diputados aprobó este jueves el informe de la Comisión Investigadora relativa a la concesión y denegación de pensiones de invalidez y sobrevivencia, que abocó sus indagatorias desde el año 2008 a la fecha, y que fue creada el 3 de octubre de 2018 tras la solicitud de 78 legisladores/as. El texto, que fue ratificado por la unanimidad de 115 votos a favor, da cuenta que, luego de la reforma provisional de 2008, hubo importantes cambios que,...

July 5, 2019
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05Jul

Migrantes accederían a cuenta de ahorro para retiro en México

Los migrantes que lleguen a México tendrían una cuenta individual de ahorro para el retiro, de incorporarlos a la seguridad social, afirmó el presidente de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), Abraham Vela Dib. En entrevista, indicó que tener un número de seguridad social les daría a los migrantes que pasan por el país acceso a “ciertos servicios mínimos”, como el de la seguridad social y realizar aportaciones voluntarias. Esto,...

July 5, 2019
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04Jul

Australia’s Biggest Pension Fund Says Get Ready for Low Returns

Australia’s biggest pension fund has told investors to prepare for low, or even negative returns, as the economic growth cycle nears an end. The warning that the good times can’t last forever comes after AustralianSuper posted its 10th straight year of gains, with its default investment option returning 8.7% in the 12 months ended June 30. The gains helped lift assets under management to A$160 billion ($113 billion). The weak Australian dollar boosted returns on overseas assets, while infrastructure, property and...

July 4, 2019
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04Jul

Europe. Immigrants Will Pay for Your Old Age

The number of refugees crossing the Mediterranean has fallen sharply since 2015, but the subject of immigration continues to scar public debate in Europe. Parties of the far right, such as Italy’s League and France’s National Rally, argue that the European Union cannot afford to open its borders because jobs and welfare protection should go to natives first. Many economists argue the opposite, correctly in my view, saying that immigration is essential to helping to solve the EU’s demographic crisis. According to...

July 4, 2019
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04Jul

Danish Pension Debuts Line of Sustainable Products

Denmark’s AP Pension has launched a new line of sustainable investment products, AP Sustainable, that was developed with Danish fintech company Matter.  All of the investments in the line will work toward supporting the goals of the Paris Agreement or contribute to one or more of the United Nation’s 17 sustainable development goals (SDGs).    “Together with AP Pension, we look forward to setting new standards for sustainability in the Danish pension industry,” Niels Fibæk-Jensens, CEO and co-founder of Matter, said in a...

July 4, 2019
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04Jul

Swiss. Planned pension reform sees women working a year longer

The Swiss government plans to incrementally increase the retirement age of women to 65 while offering incentives for all people to work longer. The CHF2.8 billion ($2.84 billion) savings measures would be accompanied by a sales tax hike and extra pension payments for hardship cases. On Wednesday, Swiss interior minister Alain Berset presented the latest proposalsexternal link to rescue the ailing state pension system. Two previous plans have been rejected by Swiss voters in recent years. A central plank of the reform is...

July 4, 2019
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04Jul

México, el país de la OCDE con mayor deterioro en las pensiones

México es el país de la Organización para la Cooperación y el Desarrollo Económicos (OCDE) donde las pensiones sufrirán el mayor detrimento generacional. Las generaciones de 1940 y 1956 recibían una pensión (tasa de reemplazo) de 99.8 por ciento de su último salario, la más alta de la OCDE. En cambio, los jóvenes que se jubilarán en un futuro recibirán apenas 26.6 de su última remuneración, según el estudio “Will future pensioners work of longer and retire on les”....

July 4, 2019
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04Jul

U.S. How gig economy workers can save for retirement

Today's gig economy is creating both opportunity and problems for millions of Americans. Gig workers include those who devote at least some of their time to providing ride-hailing services, short-term rentals of their homes or delivery services. One powerful example is Uber. The ride hailing service, which launched its initial public offering earlier this year, said over 1.5 million active Uber drivers received more than $3 billion in payments in 2017. Active Uber drivers earn an average monthly income of about $364. Uber and...

July 4, 2019
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