December 2018

12Dec

US. No, Retirement Plan Participation Isn’t Plummeting

This week the Schwartz Center for Economic Policy Analysis (SCEPA) published a short article claiming that “New Data Shows Drop in Retirement Coverage for All Income Levels,” contributing to the narrative that Americans face a “retirement crisis” that government must step in to address. In reality, the article should have been titled “Bad Data Show Drop in Retirement Coverage for All Income Levels,” because the decline in retirement plan coverage reported by SCEPA is almost surely a problem with...

December 12, 2018
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12Dec

Sustainability is about survival

As we report in this issue, investing is no longer seen as just a good cause, but at once a golden opportunity and a global imperative. Speaking at the UNDP’s Social Good Summit in Geneva in October, Marcus Neto, director of the UNDP’s Istanbul International Centre for Private Sector in Development, spoke repeatedly and unambiguously of a “pot of gold” waiting for investors in the UN Sustainable Development Goals. That doesn’t sound like the kind of language familiar from...

December 12, 2018
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12Dec

UK watchdog orders shake up of advisors to pension trustees

Poor competition in the market for advice to pension fund trustees has resulted in "substantial customer detriment", Britain's Competition and Markets Authority said on Wednesday. UK pension schemes have total assets of 1.6 trillion pounds ($2.04 trillion), and the dominant advisors are Aon, Mercer, and Willis Towers Watson. Half of pension schemes buy fiduciary management that makes investment decisions on their behalf, from their existing investment consultant. It announced a range of reforms to the investment consultancy and fiduciary management sector, saying...

December 12, 2018
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12Dec

Pension savings withdrawal made 100% tax free in India

The government has made the NPSmore tax friendly by offering complete tax exemption to the 60% of the corpus that an investor can withdraw on maturity. When they retire, NPS investors have to use 40% of the corpus to buy an annuity and can withdraw the remaining 60% of the corpus. Till now, only 40% of this withdrawn amount was tax free, while the remaining 20% was taxed. Last week, the Union Cabinet approved a proposal to enhance the tax exemption limit to...

December 12, 2018
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12Dec

Greece cancels pension cuts after budget improvements

Greek lawmakers have voted to cancel a major round of pension cuts which were to take effect on Jan. 1, following a fast-track debate procedure in parliament. Lawmakers in the 300-seat parliament voted unanimously late Tuesday in favor of canceling the cuts that would have been worth around 1 percent of Greece's annual GDP. The measures would have seen 1.4 million of Greece's 2.6 million pensioners suffer monthly losses of at least 14 percent, according to European Commission estimates. Greece's third and...

December 12, 2018
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11Dec

Collecting and Transferring Pension Contributions

Collecting social security contributions is an important operational issue in all types of pension system. Many regimes are plagued by poor compliance and weak, inefficient administration. Some countries have tried to introduce an automatic incentive to contribute by moving systems closer to ‘actuarial fairness’, where pension benefits are more strictly related to individual contributions. Examples include the systems of individual accounts introduced in a range of countries in Latin America and Eastern Europe. But in these regimes, collecting and...

December 11, 2018
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11Dec

Este fondo invierte las pensiones de los canadienses en infraestructura mexicana

Canada Pension Plan Investment Board, en alianza con IDEAL, de Carlos Slim, anuncia una participación en la autopista de peaje Pacífico Sur. El mayor fondo de pensiones de Canadá tiene en la mira a México. Canada Pension Plan Investment Board (CPPIB), que administra los recursos de jubilación de 20 millones de canadienses, primero invirtió en 2016 en la Autopista Arco Norte, en alianza con IDEAL —el brazo de infraestructura de Carlos Slim— y el fondo Ontario Teachers’ Pension Plan. Y ahora,...

December 11, 2018
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11Dec

Chile. J. Safra Sarasin ve interés de las AFP en activos sustentables

Un crecimiento de entre 20% y 30%. Eso es lo que han venido aumentando en el último tiempo los activos ESG (medioambiente, social y gobierno corporativo) bajo administración a nivel global, según Philip Bärtschi, CIO & Managing Director de Bank J. Safra Sarasin, banco privado suizo que invierte sólo en fondos de este tipo y que es partner de HMC en la región andina. “Por un lado, tiene que ver con que los clientes están demandando más estas estrategias, pero...

December 11, 2018
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11Dec

México. Afore XXI Banorte tiene nuevo director

Felipe Duarte Olvera asumió la Dirección General de Afore XXI Banorte, que administra 21 por ciento de los fondos por 4.7 billones que hay en el Sistema de Ahorro para el Retiro. Felipe Duarte Olvera asumió hoy la Dirección General de Afore XXI Banorte, que administra 21 por ciento de los fondos por 4.7 billones que hay en el Sistema de Ahorro para el Retiro (SAR). El directivo sustituye a Juan Manuel Valle Pereña después de ocupar desde enero de 2016...

December 11, 2018
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11Dec

US. Saving Infrastructure and Pensions at Once? That’s Ambitious

A plan to sell $300 billion of 40-year bonds only to pension funds cuts out too many investors. Every politician in Washington loves infrastructure, in theory. Nancy Pelosi said in October that one of her goals was to “build the infrastructure of America from sea to shining sea.” President Donald Trump has promised to “build gleaming new roads, bridges, highways, railways and waterways all across our land.” Yet time and again, details end up derailing any efforts to fix what’s...

December 11, 2018
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