En enero de este año, se mostró por segundo mes consecutivo una recuperación en el Saldo del Sistema de Ahorro para el Retiro (SAR), después de que se alcanzó un máximo histórico en septiembre de 2018, de 3 billones 415 mil 260.9 millones de pesos, informó la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). Así, al cierre del primer mes de 2019 el saldo del SAR se ubicó en 3 billones 414 mil 373 millones de...
Hungary should focus its efforts on inclusive reforms, such as overhauling public pensions and the healthcare system, the OECD has urged. Although the Hungarian economy is growing – driven by high employment levels – a shift in government policy is needed to ensure green growth and better social benefits, the Paris-based organisation said in its latest Economic Survey of the country. The survey highlighted that public spending on pensions is putting pressure on public finances – despite being one of the lowest in...
Billions of pounds of investment could be unlocked by pension schemes to fund start-up companies and infrastructure projects, boosting Britain’s economy and savers’ returns, under proposals unveiled by the government on February 5. Members of occupational defined contribution (DC) pension schemes may be missing out on potential benefits of long-term investments in ventures such as small firms, housing, green energy and sustainable development, according to the Minister for Pensions. Assets in occupational DC schemes have almost tripled to £60 billion since the start...
Bahrain FinTech Bay and the Labour Fund “Tamkeen” announced in a press conference yesterday the launch of its FinTech Talent Program focused on the training and development of Bahrainis and is the first and only of its kind in the Middle East. The inaugural FinTech Talent Program (FTP), supported by the Tamkeen ‘Labor Fund’, has been developed in partnership with global experts in finance and technology, including Georgetown University’s McDonough School of Business- and international blockchain and artificial intelligence academies....
The Puerto Rico Department of the Treasury recently issued Circular Letter Internal Revenue No. 18-21 (the “Circular”), which announced applicable qualified retirement plan limits for 2019, as required by the Puerto Rico Internal Revenue Code of 2011, as amended (the “PR Code”). For plans qualified only in Puerto Rico, the limits on elective deferrals, catch-up contributions, and after-tax contributions all remain unchanged for 2019, while the limits on annual benefits, annual contributions, plan compensation, and the highly compensated...
Sistema. Durante el 2018, el fondo de pensiones se redujo en más de S/ 2.000 millones producto de las tensiones comerciales. Experto Aldo Quintana advierte que cobro de comisiones “no es la forma técnicamente correcta”. Mientras el fondo de pensiones registró pérdidas por más de S/ 2.000 millones durante el 2018 producto de un año de tensiones comerciales, las Administradoras de Fondos de Pensiones (AFP) lograron utilidades de S/ 488 millones por el mayor ingreso de comisiones. Giovanna Prialé, presidenta de la Asociación de AFP (AAFP), indicó que...
Es bien sabido que la provisión pública de pensiones responde a un pacto intergeneracional construido sobre un sistema de reparto: las pensiones se financian con las cotizaciones aportadas por los afiliados del momento. De ese modo, la sostenibilidad del sistema público de pensiones depende esencialmente de la relación entre pensionistas y cotizantes a la Seguridad Social y entre la pensión y la cotización medias. Así pues, si de lo que se trata es de mejorar el escenario financiero del sistema,...
A deepening crisis at South Africa’s biggest money manager the Public Investment Corporation is threatening to cast a pall over the economy and throw into doubt potential deals, including the bailout of one of the nation’s largest clothing retailers.Nine PIC directors quit on Friday, saying the institution overseeing the pension funds of most South African civil servants has entered a “state of paralysis” following misconduct claims against some board members. Those included questionable investments in the bonds of cash-strapped state...
The number of new self-invested personal pension (Sipp) cases investigated by the Financial Ombudsman Service in the first three quarters of this year has already exceeded the number received in the whole of the 2017/18 financial year.The latest set of quarterly data published by the ombudsman today (February 5), showed the number of new Sipp cases had reached 2802 in the nine months between April and December 2018.This was a 37 per cent jump from the 2051 cases received in...
No financial details were disclosed. In terms of the bigger picture, this brings Smart’s total funds raised to date to £50 million. Will Wynne, Smart Pension co-founder and MD, says: “In October we won our first international competitive tender [with New Ireland Assurance] to build a savings technology platform in Ireland. This gives us an opportunity to demonstrate how our unique proprietary dynamic technology is plugging a huge gap in the workplace savings platform market, and performing on a global...
