Peru’s central bank will raise the foreign investment limit for the country’s privately managed pension funds to 49.5 percent in August and 50 percent in September, from 49 percent now, the bank said in a statement on Sunday. The change aims to diversify the pension funds’ investments and will allow them to invest $480 million more in instruments on global markets, the bank added. Source: Reuters
Thousands protested in central Moscow on Sunday against a proposed increase to the retirement age and the crowd chanted slogans critical of President Vladimir Putin whose approval ratings have been dented by the bill. The rally organized by the opposition Libertarian Party chanted “Putin is a thief” and “away with the tsar,” slogans common at anti-Putin and anti-government protests. The retirement age proposal is politically sensitive for Putin, who was re-elected in March, because it has prompted a series of protests...
China will further increase pension allowances and subsidies for veterans, families of martyrs and other personnel who have served the country in dangerous jobs, which experts say will boost their social status. Pension allowances for disabled soldiers, police officers, state officials, and militia members as well as for family members of martyrs and deceased soldiers will increase by 10 percent from China's Army Day which falls on Wednesday, according to an announcement made jointly by the Ministry of Veterans Affairs...
By Robert Holzmann & John Piggott Theoretical and policy perspectives on the taxation of pension, viewed in an international context.Policy makers and academic researchers have been preoccupied in recent decades with the design of pension schemes and effective pension system reform. Relatively little attention has been given to the taxation of pensions and, more broadly, the provision of retirement income. In this book, experts from a range of countries explore the interconnection. Their contributions are especially timely, given recent demographic...
By Lawrence R Samuel Aging is a preoccupation shared by beauty bloggers, serious journalists, scientists, doctors, celebrities--arguably all of adult America, given the pervasiveness of the crusade against it in popular culture and the media. We take our youth-oriented culture as a given but, as Lawrence R. Samuel argues, this was not always the case. Old age was revered in early America, in part because it was so rare. Indeed, it was not until the 1960s, according to Samuel, that...
By Arun Keshav (Amity University, Rajasthan) Social capital happens to be one of the most important assets that poor possess. It is this safety net on which they fall upon at time of crisis and also draw security to reduce their vulnerabilities to several risks but what strength lies behind this social capital? Why poor invest so much in their social relations? In this article the author tries to understand what lies behind these and the winning combination of surviving...
By Monika Böhnke (Maastricht University - Department of Marketing), Elisabeth Brüggen (Maastricht University) & Thomas Post (Maastricht University - School of Business and Economics - Department of Finance; Netspar) We analyze experiences of savers in a DC pension scheme from Sweden – a country that was among the first to launch choice-based funded individual pension accounts. Based on a survey among 2,646 savers, we find that the average saver feels unknowledgeable about the scheme and experiences choice overload. Pension savers...
Las inversiones que realizaron las administradoras de fondos para el retiro (afores) Sura y Citibanamex en la empresa Oro Negro —que rentaba plataformas petroleras a Petróleos Mexicanos (Pemex)— podrían verse afectadas, ante la complicada situación financiera en la que se encuentra dicha firma privada. Una fuente cercana a un grupo de acreedores de Oro Negro explicó a El Economista que Sura y Citibanamex, a través de Certificados de Capital de Desarrollo (CKD), financiaron a la firma Oro Negro con aproximadamente...
The average monthly size of labour pension in Azerbaijan increased by 5.2 percent, the Ministry of Labour and Social Protection of the Population reported. Thus, on July 1 the size of the pension reached 219.15 manats ($128.9), moreover the size of the pension by the age increased and reached 246.36 manats ($144.9). By the order of President Ilham Aliyev, the total amount of labour pensions was reindexed in accordance with the growth rate of the average nominal wage in 2017. Read more @Azernews
Las comisiones de las AFP deben reducirse si se busca mejorar los ingresos por retiro de los aportantes de acuerdo a un último reporte del Fondo Monetario Internacional publicado en su página web. Una mejor organización de las estructuras del sistema privado de pensiones que contemple comisiones menores por 0.5 puntos porcentuales impulsaría los ratios en más de 3 puntos porcentuales. El fondo también señala que se debe retirar la flexibilidad excesiva para retirar sumas globales de los fondos de las...
