March 2019

26Mar

Chile. Presidente Piñera por pensiones: “Queremos implementar un seguro para que el retiro programado no baje su monto”

El Presidente, Sebastián Piñera, se refirió este domingo a sus principales cartas bajo la manga en materia de Reforma Previsional. En entrevista con Mesa Central de Canal 13, el mandatario confirmó que se está contemplando la posibilidad de incorporar un seguro en la cotización de cargo en el empleador, que opere cuando el monto de la cotización individual se extinga. Esto, para que las pensiones no bajen y se mantenga. “Lo que queremos hacer es un seguro para que...

March 26, 2019
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26Mar

UK Proposal Would Make Pension Mismanagement a Crime

Aproposal by the U.K. government to increase penalties and impose up to seven years in jail for bosses who recklessly risk pensions might prompt more employers to offer defined-contribution retirement plans instead of defined-benefits plans. "Overall, the proposal seems likely to make defined-benefits plans even more disfavored," said David Powell, an attorney with Groom Law Group in Washington, D.C. The proposed criminal offenses may make it more difficult for pension schemes to recruit trustees, he noted. If a plan...

March 26, 2019
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26Mar

How to De-risk a Pension Plan in 2019

Changes in interest rates, Pension Benefit Guaranty Corp. premiums, and mortality assumptions may affect plan sponsors’ decisions to de-risk (or not de-risk) defined benefit plan liabilities in 2019. Note that for purposes of this article, by “de-risking” we mean paying out a participant’s benefit as a lump sum and thereby eliminating the related liability. We illustrate our analysis of the effect of interest rates and PBGC premiums on the de-risking decision by using a (relatively simple) example: the cost-of-benefit...

March 26, 2019
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26Mar

UK. Over a million pensions face 55% tax timebomb

The pension pots of around 290,000 UK workers have already surpassed the Lifetime Allowance (LTA), meaning that they could face a hefty tax on any additional retirements savings. In addition to those already past the point of no return, research by mutual insurer Royal London has revealed that there are around 1.25 million people at risk of breaching the LTA by the time they retire. This is because senior and well-paid employees with defined benefit or defined contribution pension...

March 26, 2019
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25Mar

Perú. ONP: Los riesgos de mantener el sistema y de transformarlo a una AFP estatal

Durante las últimas semanas, la discusión pública en torno al sistema previsional se ha centrado en el futuro de la Oficina de Normalización Previsional (ONP). Esta opera con un fuerte déficit financiero, el cual requiere transferencias anuales del Estado equivalentes al 0,2% del PBI para completar el pago mensual a sus pensionistas. Ese déficit, que incluso esconde el costo oculto de aquellas personas que aportaron a la ONP, pero no reciben pensión por no cumplir el mínimo de años...

March 25, 2019
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25Mar

México. Llama PENSIONISSSTE a impulsar una educación financiera en la economía familiar

El Vocal Ejecutivo del PENSIONISSSTE, Iván Pliego Moreno, llamo a impulsar una educación financiera en la economía familiar, ya que de acuerdo con la Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR), en México, al cierre de 2018, el ahorro voluntario representó sólo el dos por ciento del total de recursos registrados en las Afores. Destacó que el Fondo Nacional de Pensiones de los Trabajadores al Servicio del Estado administra alrededor de dos millones de cuentas...

March 25, 2019
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25Mar

Chile. Presidente Piñera por pensiones: “Queremos implementar un seguro para que el retiro programado no baje su monto”

El Presidente, Sebastián Piñera, se refirió este domingo a sus principales cartas bajo la manga en materia de Reforma Previsional. En entrevista con Mesa Central de Canal 13, el mandatario confirmó que se está contemplando la posibilidad de incorporar un seguro en la cotización de cargo en el empleador, que opere cuando el monto de la cotización individual se extinga. Esto, para que las pensiones no bajen y se mantenga. “Lo que queremos hacer es un seguro para que...

March 25, 2019
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25Mar

How Korean pension service can be saved

The South Korean National Pension Service (NPS) is the third-largest national pension fund in the world with US$560 billion in assets. It was founded in 1988 to ensure that all South Koreans after retirement would have a stable source of income. Currently, a certain amount of money is automatically deducted from the salaries of employees and employers as a contribution to the NPS by law. However, many Koreans worry that the NPS will run out of funds in the...

March 25, 2019
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25Mar

Namibia. N$700m pensioners money at risk

THE Government Institutions Pension Fund is suing the South African company, Steinhoff Holdings International, for possible losses of around N$700 million invested in the company since 2014. Steinhoff Holdings International is a global retailer with more than 40 brands in over 30 countries. Some of Steinhoff's outlets are Incredible Connection, Hifi Corp, Hertz Car Rental, Timbercity, Pep Stores, Dunns, Shoe City, Pennypinchers, Tekkie Town and Ackermans, among many others. The company was hit by a N$100 billion...

March 25, 2019
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25Mar

Canada. A long-term fund with $370 billion under management shares some investing ‘themes’

Canada’s national pension fund invests for the long-term, its CEO told CNBC on Sunday, and he named trends that are helping to guide its decision-making. “We’re trying to go deep on certain areas where we see long-term trends and try to identify the best parts of those themes to invest in, companies to invest in, to express that view,” Mark Machin, president and CEO of Canada Pension Plan Investment Board, told CNBC’s Martin Soong at the China Development Forum...

March 25, 2019
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