April 2019

03Apr

Financial health of defined benefit pension plans rebounds to start 2019

The solvency positions of Canadian defined benefit pension plans rebounded along with stock markets in the first quarter of 2019, once again nearing 100%, according to Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions. The late-2018 equity selloff meant pension plans’ financial health capped last year in decline, but the first-quarter equity rally saw the Aon Median Solvency Ratio erase those losses. Quote: “The first quarter was very...

April 3, 2019
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03Apr

Switzerland. Initiative to overhaul mandatory occupational pensions launched

Pension benefits In a separate move, a people’s initiative has been launched to overhaul the mandatory occupational pension scheme. The campaigners, including mainly rightwing and centre-right politicians, want to introduce a flexible minimum interest rate on accumulated pension capital, scrapping the current rate fixed at 6.8%. The aim is to adapt pension benefits and the retirement age to general life expectancy in a bid to create a “sustainable and fair system”, according to the initiative committee. It has 18...

April 3, 2019
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02Apr

México. Rechaza PT reforma a ley de Sistemas de Ahorro para el Retiro

El coordinador de los diputados del Partido del Trabajo (PT), Reginaldo Sandoval Flores, informó que su bancada no votará a favor de la iniciativa del Ejecutivo federal de reforma la Ley de los Sistemas de Ahorro para el Retiro, porque afectaría a 62 millones de mexicanos con sus cuentas individuales. "Nosotros desde ahora señalamos, con toda precisión, que vamos en contra, porque se lastimaría a 62 millones de mexicanos, que son las cuentas individuales que hay", precisó el legislador...

April 2, 2019
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02Apr

Colombia. Colpensiones recibe 1.200 solicitudes diarias para traslados a pensión estatal

La Administradora Colombiana de Pensiones (Colpensiones) reveló que durante los dos primeros meses del año ha recibido cerca 1.200 solicitudes diarias para realizar asesorías en el proceso de traslado de régimen pensional a la entidad estatal, el cual es conocido como el mecanismo de doble asesoría. “Este es un mecanismo fundamental a la hora de decidir a quién le entregamos nuestro ahorro pensional. En Colpensiones siempre hemos sido reiterativos con este tema porque queremos que cuando las personas tomen...

April 2, 2019
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02Apr

U.S. pension fund managers pledge investments in Kenya’s infrastructure

More than 30 representatives of U.S. pension and assets management funds said on Monday they plan to channel capital towards development of critical infrastructure in Kenya. The senior executives who manage assets worth about 100 trillion Kenyan shillings (about 1 trillion U.S. dollars) said they are keen to invest in roads, water, sanitation and housing projects to help realize socio-economic transformation in Kenya. "By moving from traditional investments in stocks and bonds to new opportunities in Kenyan roads, power...

April 2, 2019
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02Apr

EU. Launch of EIOPA’s 2019 Occupational Pensions Stress Test Exercise

Crucial biennial exercise to assess the resilience and potential vulnerabilities of the European Defined Benefit and Defined Contribution pension sector Tailored to the specificities of the diverse European pension sector and its potential impact on financial stability Adverse market scenario mirrors the current risk outlook on financial markets For the first time, a European stress test includes an assessment of Environmental, Social and Governance (ESG) exposures Today, the European Insurance and Occupational Pensions Authority (EIOPA) launched...

April 2, 2019
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02Apr

Ghana. FinTechs look to regulator to make Digital Pensions Market more attractive

The Chief Executive Officer (CEO) of IT Consortium Limited, Mr. Romeo Bugyei, has called for closer collaboration between government, regulatory bodies and FinTechs in Ghana to push informal pensions to citizens. He indicated that in order to achieve successful financial inclusion in the county, FinTechs must be supported to enable them efficiently deliver Digital Financial Services (DFS) to Ghanaians. He made this call at a stakeholder forum co-hosted by the Ghana Technology Chamber and the Ghana Chamber...

April 2, 2019
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02Apr

Older Workers: Countries’ Experiences with Phased Retirement

“Phased retirement” lets you work less than full-time before you fully retire. This can help keep skilled people working longer while easing pressure on national pensions (e.g. Social Security). The U.S. workforce is aging, but there are few formal phased retirement programs here. We looked at 4 other countries to potentially inform a U.S. strategy. We found program designs that could work under the unique institutional conditions here. For example, many of the programs were designed to work with...

April 2, 2019
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02Apr

Pakistan Introduces Crypto Regulation

The Pakistani government will now regulate local cryptocurrency firms under new legislation. Local news outlet The Express Tribune reported that the government of Pakistan will introduce Electronic Money Institutions (EMI) regulations based on the recommendations of the Financial Action Task Force (FATF). The FATF is an intergovernmental organization based in France that creates policies for combating money laundering and other threats to the integrity of the global financial system. It has reportedly been working on international regulations for cryptocurrencies....

April 2, 2019
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01Apr

Primera marcha “No+AFP” del año convoca miles de chilenos

Decenas de miles de personas se manifestaron este domingo en Chile para reclamar el fin del actual sistema de pensiones del país, basado en la capitalización individual, y pedir que se cambie por un modelo de reparto solidario financiado entre trabajadores, empleadores y el Estado. La marcha fue convocada por la Coordinadora "No+AFP" y en Santiago discurrió por el centro de la ciudad, entre la Plaza Italia y el cerro Santa Lucía, donde se realizó un acto acompañado de...

April 1, 2019
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