June 2019

28Jun

Ukraine. Cabinet Decides To Raise Pensions To UAH 2,000 For Women With Seniority Of More Than 30 Years And Men With Seniority Of More Than 35 Years From July

The Cabinet of Ministers adopted the relevant resolution at a meeting on Wednesday, Ukrainian News Agency reports. In particular, the Cabinet of Ministers determined that from July 1, if the monthly amount of pension payments, taking into account the allowances provided by law, cash assistance, indexation and other allowances (except for pensions for special services to Ukraine) for pensioners with sufficient insurance period, does not reach UAH 2,000, so such pensioners will be paid extra to the pension in...

June 28, 2019
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28Jun

Canada. A new paradigm for pension plans

The single-employer pension plan model is dying. We do not need to mourn its demise, but we do need to replace it. In a recent report published by the C.D. Howe Institute, we promote the implementation of new private-sector pension plans in Canada based on a better governance model. Rather than being sponsored by single employers, the new plans would be sponsored by multiple employers and governed by independent management boards that include representation from all stakeholders. Scale is...

June 28, 2019
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28Jun

UK. Government denied pensions case appeal

The Supreme Court has today (June 27) refused the government’s application to appeal a court case which ruled changes made to judges and firefighters pension schemes were discriminatory. According to the Fire Brigades Union this was the last legal hurdle in the dispute, leaving the government with no further avenue to exhaust. Elizabeth Truss, chief secretary to HM Treasury, revealed in January that if the government lost it could cost around £4bn a year if extended to all applicable...

June 28, 2019
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27Jun

México. Cobro de dos comisiones complica el esquema de ahorro: Amafore

En la gran mayoría de los sistemas de pensiones del mundo sólo se cobra una sola comisión por la administración del ahorro, que es sobre el saldo operado y no existe una comisión adicional por desempeño, como la que se pretende aplicar en México. Así lo aseguró el presidente de la Asociación Mexicana de Administradoras de Fondos para el Retiro (Amafore), Bernardo González Rosas, quien se pronunció por un esquema de comisiones transparente y claro para el trabajador, porque...

June 27, 2019
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27Jun

Peru. ¿Cuánto han ganado los fondos de AFP 1, 2 y 3 en lo que va del año?

Hasta el 18 de junio, la rentabilidad promedio en lo que va del año de los cuatro tipos de fondos del sistema privado de pensiones ha sido de 7.59 %, señaló hoy la presidenta de la Asociación de AFP, Giovanna Prialé. Refirió que este rendimiento es superior a los depósitos bancarios y otros instrumentos de inversión nacionales y del extranjero. Explicó que la volatilidad de la rentabilidad de los títulos de inversión ha estado presente en el primer...

June 27, 2019
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27Jun

Claves para entender la caída del empleo formal (y el aumento del desempleo) en México

Durante el mes de mayo se generaron 3.983 empleos formales, una disminución de 88,2% en comparación al mismo mes del año pasado, según datos divulgados por el Instituto Mexicano del Seguro Social (IMSS). "Es bastante, pero tiene que ver con un proceso de desaceleración de la economía a nivel global y que aquí tiene un gran impacto. De todos modos si comparamos con el inicio del sexenio de Enrique Peña Nieto, [2012-2018], la creación de empleos es un poco...

June 27, 2019
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27Jun

Portugal. Social security grants 26,000 early-retirement pensions

Very long contributive careers – of people who began working while still very young – accounted for more than half of the total early retirements being approved in 2018, with 26,389 pensions being granted, according to data unveiled by the minister, José Vieira da Silva, at a regular hearing of parliament’s committee on employment and social security. This year, the normal retirement age is 66 years and five months; at a lower age, early retirement may be requested for...

June 27, 2019
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27Jun

Brazilian real falls on economy worries, dollar lifts other Latam forex

The Brazilian real dipped on Tuesday on worries about the country's economy and pension reform plans, while other Latin American currencies rose against a weaker dollar. The Brazilian real edged lower for a second day, while the Mexican peso hovered near two-week lows even as the greenback touch new lows against a basket of major currencies. FRX/ Minutes from the Brazilian central bank's June policy meeting showed the economy is stagnating and uncertainty surrounding economic and fiscal reforms is...

June 27, 2019
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27Jun

The Disappearing DB Pension Plan

The use of defined benefit pension plans continues to decline as sponsors look to de-risk pension strategies. Governing a defined benefit (DB) pension plan and its investment strategy has always been challenging. Over the past decade it’s also become increasingly complex, not to mention costly, spurring many plan sponsors to reevaluate their pension plan approaches. A new survey of 155 U.S. senior finance executives conducted by CFO Research, in collaboration with Mercer, found that 77% of those DB plan...

June 27, 2019
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27Jun

UK. Ministers ‘sit on £7bn unclaimed benefits’ as pensioners suffer

More than one million pensioners are living in poverty while the Government hoards billions of pounds worth of benefits. Around £7billion of Pension Credits have gone unclaimed since 2017, meaning that some of the most vulnerable older people are missing out on around £49 a week. Experts predict the overall figure will rise to £17billion by 2022 – and from June 2020, over-75s will also find themselves without a free TV licence after the BBC's decision to offer the...

June 27, 2019
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