October 2025

Macroeconomic Conditions Continue to Drive Pension Risk Transfer

Amid ongoing market conditions and economic uncertainty, U.S. plan sponsors are moving decisively to reduce pension risk. According to the newly released MetLife’s 2025 Pension Risk Transfer (PRT) Poll, a record 94% of defined benefit (DB) pension plan sponsors with de-risking goals intend to fully divest their pension liabilities with 80% planning to do so within five years. The company’s latest research shows market volatility is driving plan sponsors to de-risk, which, coupled with economic trends and stronger plan funding, is...

UK. DB pension surpluses continue to stand at record levels, up £48bn year-on-year in September

XPS Group estimates UK DB pension schemes maintained a £222bn aggregate surplus against long-term funding targets, up £2bn in September 2025 and £48bn year-on-year. Aggregate scheme assets saw a small rise in September 2025, as matching assets rose in value as bond yields decreased. Growth assets such as global equities also displayed positive performance. Aggregate scheme liabilities also increased, driven by a slight reduction in gilt yields. New analysis from XPS Group shows UK pension schemes continued to enjoy...

La industria confirma su fórmula para crecer: ETFs, mercados privados, minorista y pensiones

En 2024, los activos bajo gestión alcanzaron un récord de 135 billones de dólares, lo que representa un aumento del 13% interanual. Ahora bien, según el último informe de Morgan Stanley y Oliver Wyman, para 2029, el patrimonio global en la industria de gestión de activos podría alcanzar los 200 billones de dólares, lo que supone una tasa anual de crecimiento de alrededor del 8% y un acumulado del 48%. Además, calcula que los flujos netos anuales promedien alrededor...

“Perú enfrenta un mayor desafío que Chile en la formalización laboral”, advierte asesor ministerial chileno sobre el sistema de AFP

El debate sobre el futuro de las Administradoras de Fondos de Pensiones (AFP) se ha reactivado en la región. Mientras Chile avanza con una reforma estructural impulsada por el presidente Gabriel Boric, que busca transitar hacia un modelo mixto —con participación pública y privada—, en Perú el sistema previsional continúa bajo la sombra de la desconfianza y la informalidad. Claudio Reyes Barrientos, asesor del Ministerio del Trabajo y Previsión Social de Chile, advirtió que el Perú “tiene un mayor desafío en...

Colombia se hunde en el ranking global de pensiones: la informalidad dificulta el ahorro para la vejez

Colombia vuelve a quedar mal parada en el ranking global de pensiones. El reporte más reciente sitúa al país entre los peores evaluados y pone bajo la lupa un problema de fondo: la informalidad que reduce cotizaciones y golpea el bolsillo futuro de millones de hogares. Los datos no llegan solos. El GRI 2025 de Natixis Investment Managers compara a 44 economías y muestra un retroceso frente a los líderes europeos. Allí aparecen pistas claras sobre dónde falla el país y qué palancas pueden mejorar el ahorro para...

Grupo de expertos se reúne con el superintendente de Pensiones para analizar la implementación de la reforma previsional

Un amplio grupo de expertos y académicos se reunió este lunes con el superintendente de Pensiones, Osvaldo Macías, con el objetivo de analizar los avances en la implementación de la reforma de pensiones. El encuentro, organizado por la Facultad de Ciencias Económicas y Empresariales de la Universidad de los Andes, fue moderado por el académico de esa casa de estudios Matías Acevedo, quien condujo la conversación entre los distintos participantes. Entre los asistentes al encuentro estuvieron Salvador Valdés, Fernando Coloma, Fernando...

Dutch PME fund withdraws investments from Israeli companies

The Dutch pension fund PME, with assets totaling $68 billion, has divested from investments in several companies linked to activities in the occupied Palestinian territories, after classifying these holdings as potentially connected to human rights violations. A spokesperson for the fund said the decision came after “a comprehensive review and months of consultations,” noting that the affected companies include U.S. online travel company Booking Holdings, cement company Cemex SAB de CV, and telecommunications equipment firm Motorola Solutions. The spokesperson added that...

UK. Six key challenges for the revived Pensions Commission

Aon has warned that the government’s revived Pensions Commission will face major structural hurdles if it hopes to deliver meaningful reform to the UK’s pension system. In a new paper exploring the aims of the Pensions Commission, Matthew Arends, head of UK retirement policy at Aon, argued that the commission’s narrow remit may stop it from addressing the root causes of poor retirement adequacy. He warned that by being instructed to “build on the foundation of the state pension” rather than...

Later retirement expected in 2026 budget as Malaysia tackles economic pressures

Malaysians may be asked to retire five years later at 65 but should be spared any sharp tax rises in Friday’s budget, economists say, as Prime Minister Anwar Ibrahim faces an economy hampered by an ageing population, high youth joblessness and surging living costs at the halfway point of his administration. About 8 per cent of Malaysia’s 34 million population are aged 65 and older, according to government data, firmly placing the Southeast Asian nation in the ageing nation category. At the same time,...

Aging, not smartphones, drives US’s growing loneliness crisis

In a recent study in PLoS One, researchers examined how birth cohort, time period, and age shape the time that people spend alone when social media and smartphone use are widespread. Their findings show that social isolation has increased sharply over the past two decades, accelerating since the mid-2010s. However, smartphones alone cannot explain these changes, with generational differences and aging contributing to isolation. Background The U.S. Surgeon General described isolation and loneliness as a national epidemic in 2023, pointing to online...