September 2025

Swiss pension funds warned on equity, bond concentration risks

Swiss pension funds are facing rising concentration risks in domestic and global equities, bonds, and regional exposures, particularly the US, according to the Pensionskassen-Jahrbuch 2025 report published by consultancy PPCmetrics. The study shows that around two-thirds (67.5%) of total pension assets of CHF859bn (€921bn) are invested in bonds and equities. The remaining 32.5% is allocated to real estate, alternatives and infrastructure. Within fixed income, an average 24.2% of total assets are invested in bonds denominated in Swiss francs, and just under 12% in...

México. Afores prefieren invertir en EU

Las administradoras de fondos para el retiro (afores) mantienen a Estados Unidos como el principal destino de inversión del ahorro de los trabajadores mexicanos. De los 1.1 billones de pesos que invirtieron las afores fuera del país, 55.3 por ciento se dirigió al país vecino del norte al cierre del primer semestre del año, de acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) “Hoy hay trabajadores que, sin saberlo, están invirtiendo en empresas como Nvidia, Meta o Facebook, lo que les da la posibilidad...

Chile. Avanza proyecto que prohíbe pensiones a autores de femicidio, homicidio y violencia intrafamiliar

La Comisión de Mujeres y Equidad de Género de la Cámara de Diputadas y Diputados aprobó y despachó a Sala el proyecto que busca evitar que personas condenadas por delitos graves, como femicidio, homicidio y lesiones en contexto de violencia intrafamiliar, puedan recibir pensiones de sobrevivencia de sus víctimas (boletín 17.724). La iniciativa establece que no podrá ser beneficiario de este tipo de pensión quien tenga una sentencia ejecutoriada como autor, cómplice o encubridor de dichos delitos en perjuicio del causante. Asimismo, el proyecto incorpora...

Mexico’s Politics Of Pensions

Like many countries with an aging population, Mexico is facing a pension crisis. In just the last five years, the universal pension for older adults quadrupled its budget. Coupled with low growth, the ever-rising cash transfers and subsidies have become a major drag on the country’s economy. Welfare payments to individuals—such as the universal pension for older adults, disability pensions, and student stipends—have grown at a pace that outstripped investment in infrastructure, education, and security. These programs are politically attractive:...

US. Investors bet on gold’s glitter as US jobs data falters

Gold surged to a record high near US$3,600 per ounce on Friday, as speculation mounted that the US Federal Reserve could deliver a significant interest rate cut at its next meeting, following weaker-than-expected US job growth in August, according to Reuters. Investors responded to the jobs data by doubling down on bets that the Fed might cut rates by as much as 50 basis points, a move that sent Treasury yields tumbling and the US dollar lower, while boosting gold’s appeal. Nonfarm...

UK. Home Responsibilities Protection: Could you be owed thousands in backdated State Pension?

One Morning Live viewer has discovered she was owed more than £35,000 in unpaid State Pension after finding out that years she spent at home caring for her child had not been properly recorded. Her case highlights a wider problem linked to Home Responsibilities Protection (HRP), a scheme that ran between April 1978 and April 2010. HRP was designed to protect parents and carers who were unable to build up full National Insurance contributions because they were looking after children...

Chile. Superintendencia de Pensiones multa a las siete AFP por incumplimientos que afectaron al seguro de invalidez

En el marco de un proceso de fiscalización que comenzó a fines de 2023 sobre la gestión de las administradoras de fondos de pensiones (AFP) por el incumplimiento en el pago oportuno de las prestaciones realizadas por profesionales y entidades del Registro Nacional de Interconsultores, proceso que se canaliza a través de la Fundación de Administración de Comisiones Médicas (FACM), la Superintendencia de Pensiones (SP) resolvió sancionar por un total de UF 13.136 (unos $517,9 millones) a las siete...

Colombia. BEPS de Colpensiones estimula ahorro pensional con sorteo de 1.040 bonos por $2’350.000 cada uno

Para estimular el ahorro entre las personas que no alcanzan a cotizar para tener una pensión de jubilación y que devengan menos de un salario mínimo al mes, el programa BEPS de Colpensiones (Beneficios Económicos Periódicos, que este año cumple una década de vigencia) lanzó a partir de este mes el sorteo 'Ahorrar es Ganar 2025', avalado por Coljuegos. Este incentivo premia el ahorro de las personas vinculadas mediante un bono de consumo por $2'350.000 cada uno, que puede ser...

Global warning: solving pensions gaps around the world

From gender gaps to vulnerable workers, inadequate pensions are an issue the world over. What are countries doing about it? Around the world, many people are still without pension provision. Here, we explore this by looking at case studies of countries with significant coverage issues, and countries that are making changes to improve coverage. Some of the major drivers and resulting effects of inadequate pension provision are: The gender pensions gap – Figure 1 shows the gender pensions gap in OECD countries....

UK. Amendment Watch: What changes are being proposed to the Pension Schemes Bill?

On the first day back for MPs after the summer recess, the UK parliament’s website published more than 200 amendments to the Pension Schemes Bill ahead of the start of the committee scrutiny stage of its journey through parliament. By the middle of this week, this list had grown to more than 270. Industry representatives from trade bodies, pension providers, and other organisations this week gave evidence to the scrutinising committee on its various aspects, from surplus release to investment...