July 2019

03Jul

Most European DB pensions are cashflow negative

Over 70% of UK defined benefit (DB) pension schemes are cashflow negative, with more benefits being paid out than contributions being received, while in Europe as a whole the figure stands at 64%. In the UK, this marks an increase of cashflow-negative DB plans of 7% since 2018. The key driver behind this year-on-year increase is the maturity of these plans, with many now being closed both to new members and new benefit increases. Throughout Europe, including the UK, 72% of...

July 3, 2019
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03Jul

Pensiones y fintech en México

Como se expuso en la columna pasada, las fintech han encontrado grandes oportunidades en el campo de las pensiones. Esto se debe, especialmente, a un tema generacional, combinado con una transición hacia sistemas de seguridad social que involucran mucho más al individuo. México, particularmente, ha desarrollado un ecosistema que no sólo permite el desarrollo de soluciones tecnológicas en el ámbito financiero, sino que las incentiva. Además, la ley Fintech supuso un gran apoyo para superar el principal reto que...

July 3, 2019
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03Jul

Modelo sueco de pensiones y ‘mochila austríaca’, ¿en qué se diferencian?

El modelo sueco se ha convertido en un sistema de pensiones de referencia, mientras que la ‘mochila austríaca’ es un modelo que sustituye a la indemnización por despido y puede complementar las futuras pensiones de los trabajadores. Ambos mecanismos tienen diversos aspectos en común, pero también presentan diferencias sustanciales que señalamos a continuación. La principal diferencia entre el modelo sueco y la ‘mochila austriaca’ es que el primero es un sistema de pensiones y el segundo es una indemnización...

July 3, 2019
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03Jul

Leveraging Switch Technology to Increase Pension Coverage to Informal Sector Workers. Workshop Live Coverage

We are doing a live coverage of the workshop "Leveraging Switch Technology to Increase Pension Coverage to Informal Sector Workers”, in Ghana, organized by this country's National Pensions Regulatory Authority (NPRA) and The World Bank. During the initial remarks, Mr. Hayford Attah Krufi, NPRA's CEO, said that “NPRA has seen the opportunity for the industry to embrace the technological environment to facilitate membership enrolment and contributions”. Pierre Laporte, Country Director of Ghana for The World Bank continued by celebrating Ghana's engaged regulator, involved informal-sector representatives &...

July 3, 2019
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02Jul

México. Sistema de afores no debe revertirse, sino reforzarse: expertos

A 22 años de la creación de las administradoras de fondos para el retiro (afores), expertos consideran que el esquema de cuentas individuales no debe revertirse, a pesar de que ofrece una pensión menor a 30% del último salario del trabajador. Al contrario, debe reforzarse. Carlos Lozano, fundador y director general de Nathal Actuarios, comentó que uno de los aspectos en el que más ha dejado a deber el sistema de afores es la baja cobertura, pues sólo cuatro...

July 2, 2019
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02Jul

Why Africa’s Biggest Fund Manager Is Under Fire

The Public Investment Corp. is the behemoth of Africa’s fund managers, overseeing $150 billion in pension assets for more than 1 million South African state workers. While the PIC, as it’s widely known, was long heralded for delivering market-beating returns, its reputation has been scarred by accusations that it made questionable investment decisions and didn’t follow proper procedures. An official inquiry into how the fund manager is run has starkly highlighted its management shortcomings. 1. Why is the PIC so important? It’s...

July 2, 2019
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02Jul

Australia’s Top Pension Fund Explores Merger

Australia’s top-performing pension fund is considering merging with a smaller peer as consolidation grips the nation’s retirement industry. Melbourne-based Host-Plus Pty, which manages about A$43 billion ($30 billion) of retirement savings from hospitality and tourism workers, signed an agreement with Club Super to formally begin due diligence on a merger, the funds said in an emailed statement Tuesday. It’s anticipated the transaction will be approved, bringing greater benefits to members, the statement said. It’s the second merger in Australia’s A$2.8 trillion...

July 2, 2019
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02Jul

EIOPA outlines key financial stability risks of the European insurance and pensions sector

Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its June 2019 Financial Stability Report of the (re)insurance and occupational pensions sectors in the European Economic Area.The risk of a prolonged low yield environment has become more prominent in recent months, as central banks have put the process of monetary policy normalisation on hold amid concerns over economic growth following growing trade tensions and political uncertainty. The low yield environment remains the key risk for both, the insurance and pension...

July 2, 2019
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02Jul

Argentina. Pablo Antolín: “Es regresiva la idea de fijar en un promedio la edad jubilatoria”

Si bien de eso no se habla en tiempos de campaña electoral, cuando los candidatos suelen evitar cualquier referencia a posibles costos futuros a enfrentar, se sabe que la Argentina necesitará acometer reformas que tiendan a asegurar el equilibrio fiscal y reduzcan su dependencia del financiamiento externo. Una de ellas está vinculada con la sustentabilidad del sistema previsional, tema que debió comenzar a ser analizado desde este año por una comisión que la ley denominada de "reparación histórica" obligaba...

July 2, 2019
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02Jul

Bulgaria. More than 2,130,000 Pensioners Will Receive an Increase of 5.7% on Their Pensions From Today

More than 2,130,000 pensioners will receive an increase of 5.7 percent on their pensions from today - 1 July. The change is in compliance with the Social Insurance Code provided for by all pension payments granted starting with 31 December 2018. This was announced by the National Social Security Institute.An increase by the same percentage of today will also apply to pensions that are equated to the minimum amount for the type of pension, including those granted in 2019....

July 2, 2019
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