May 2019

Icelandic pension funds and Bristish fund buy geothermal firm HS Orka

As reported this morning in Iceland, Jardvarmur slhf, a company jointly owned by 14 pension funds in Iceland, has decided to exercise its pre-emptive right in the only private power company in Iceland, HS Orka for the 54 per cent stake sold by Canadian energy company Innergex in HS Orka. In the sale process, a fund by Australian investment bank Macquarie put in the winning offer in Magma Energy Sweden A.B, which holds the the 54 stake in HS...

Chile. Gerente general de las AFP acusa al gobierno de “improvisación” en reforma de pensiones

El gerente general de la Asociación de AFP, Fernando Larraín, acusó al gobierno de "improvisación" por incluir dentro de la reforma de pensiones un ente estatal que maneje el 4 % de cotización extra que contempla la iniciativa del Ejecutivo. “Nos parece que ha habido algo de improvisación respecto de esto (…) Hay mucha incertidumbre respecto de este tema”, dijo en ADN Hoy el representante de las administradoras. “El proyecto de ley que envió este Gobierno se basaba en...

La OCDE avala las subidas del salario mínimo y de las pensiones como motor de la economía española

La OCDE defiende que las recientes medidas adoptadas por el Gobierno para incrementar la renta disponible de los hogares están sirviendo como motor de crecimiento de la economía española, pero insta aun así el Ejecutivo a mantener la senda de ajuste fiscal para reducir la elevada deuda pública. Así lo valoró este martes el organismo –que agrupa a las 36 mayores economías del mundo– durante la presentación en París de su informe semestral sobre Previsiones Económicas. España es de...

Japan’s Financial Services Agency calls for financial products that focus on longevity risk

The Financial Services Agency has released a draft report calling for financial products that focus on longevity risk, or when people’s funds for living expenses run short due to a rise in longevity. The draft includes plans for the agency to urge financial institutions to expand their ranges of financial products and services that respond to an aging society. It also noted the need for services that preserve assets for when people’s cognitive functions deteriorate. The document was presented...

China is plugging pension hole by tapping into US$25 trillion in equity in state-owned enterprises

Every month, Liu Yuan sets aside around 900 yuan (US$131), or 8 per cent, of his salary to be paid into the public pension fund, while his employer contributes about 2,000 yuan. These payments will guarantee the 33-year-old accountant of a construction company in eastern Shandong province a basic monthly pension payment of around 4,000 yuan a month when he retires in 25 years, all other things being equal. But starting this May, his employer can cut the mandatory...

Pension adequacy in Europe the theme of our conference in September

The population is ageing in all EU countries. What kind of pensions can you expect to get in Europe? Are the schemes sustainable, both financially and socially? What is the European response to the related challenges? The conference Pension Adequacy in Europe – Today and Tomorrow, a side event of Finland’s EU presidency, will take place in Helsinki on 17 September 2019. It gathers European experts on pensions and pension policy. The conference looks at pension adequacy in Europe,...

Four Key Strategies for Managing Pension Risk

CFOs at companies that offer defined benefits might be forgiven for feeling frustrated that, in addition to oversight responsibility for company financial performance, shareholder relations, accounting, tax, and myriad other functions, they also have to manage a pension plan. Compounding the challenge, the investment landscape has grown only more complex over the years, requiring greater day-to-day attention and oversight. Additionally, few internal or external constituents who influence plan direction have a clear 360-degree view, further confusing and distorting the...

Brazil pension chief says 250-270 lawmakers spoken in favor of pension reform

Parliamentary support in Brazil for the government’s pension reform bill is rising, with between 250 and 270 lower house deputies having spoken in favor of it, Labor and Pensions Secretary Rogerio Marinho said on Wednesday. Marinho’s remarks, made at a conference on pension reform, suggest the government may be getting closer to the 308 lower house votes it needs for the bill to then proceed to the Senate for final approval. Earlier this week, Marcelo Ramos, chairman of the...

El Futuro se Construye Hoy: La Reserva Humana

Por Graciela zarebski El envejecimiento es un proceso natural y, mal que les pese a muchos, un hecho ineludible. La realidad indica que muy pocas personas se preparan para este momento de la vida con una reserva emocional, intelectual y vincular que les permita transitar los últimos años cosechando los logros sembrados en el pasado. La mayoría es sorprendida abrupta y brutalmente por los primeros síntomas del deterioro, sin siquiera haberse preguntado: ¿qué modelo de vejez quiero para mí?...

Educación que rinde: Mujeres, trabajo y cuidado infantil en América Latina y el Caribe

por María Mercedes Mateo-Berganza Díaz, María de Lourdes Rodríguez Chamussy En este libro se sostiene que la presencia de más y mejores servicios de guardería es una opción fundamental de política pública para incrementar la oferta de mano de obra femenina. Pero para ellos los países deben prestarles particular atención al diseño. En este libro se sostiene que la presencia de más y mejores servicios de guardería es una opción fundamental de política pública para incrementar la oferta de mano de...