March 2025

Colombia enfrenta su tasa de natalidad más baja en décadas: Los jóvenes han cambiado sus prioridades

La natalidad en Colombia ha alcanzado su punto más bajo en décadas, reflejando un cambio en las decisiones de vida de las nuevas generaciones. Según el más reciente informe demográfico, en 2024 se registraron 445.011 nacimientos, lo que supone una reducción del 13,7 % con respecto al año anterior. Este descenso, que se viene observando desde 2018, está relacionado con factores como la búsqueda de estabilidad económica, la prolongación de los estudios y el deseo de consolidar proyectos personales antes...

Chile: Strengthening social security and increasing labor costs

Congress has approved social security reforms aimed at improving retirement outcomes for workers, primarily by significantly increasing employer contributions over time and encouraging greater competition among service providers. In Chile, social security retirement, survivors’ and disability benefits are based on compulsory individual defined contribution (DC) accounts managed by private fund administrators (Administradoras de Fondos de Pensiones – AFPs). Accounts are funded primarily by employee contributions at 10.0% of covered pay. The increases are to start six months after publication of...

UK. Reeves could tax pensions and wealth if economy worsens, says IFS

Pensioners and wealthy people could be the target of tax increases at Rachel Reeves’s autumn budget if the drastically worsening economic backdrop fails to improve, the Institute for Fiscal Studies (IFS) has said. After the chancellor’s spring statement featured deep cuts to welfare to meet her fiscal targets, the UK’s leading experts on the public finances said Reeves could be forced to come back later this year with tax rises. Paul Johnson, the IFS director, said a “risky and changing world – as...

BlackRock Targets Pension Funds in Growth Strategy for Brazil

BlackRock Inc., the world’s largest asset manager, is in talks with Brazilian pension funds to expand further into the 2.9 trillion-real ($510 billion) industry. “Today, we don’t have a mandate to manage money from pension funds locally in Brazil,” Bruno Barino, who took over as BlackRock’s Brazil country manager in October, said in an interview. “But it’s a natural evolution; there is no way to be in this market and not do it.” With $11.6 trillion in assets under management, BlackRock...

Tienen Afore 68.6 millones de mexicanos, pero 17.5 millones lo desconocen

Un total de 68.6 millones de personas en México tienen una cuenta Afore, lo que representa 52% de la población en México; sin embargo, 17.5 millones de personas o no lo saben o no las han reconocido. De acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), al cierre de febrero del 2024 había un total de 17.5 millones de cuentas en las Afores no reconocidas por los trabajadores. De ese total, 8.4 millones estaban...

Chile. Reforma de pensiones ya es ley: estos son los plazos para su implementación que empiezan a correr hoy

Este miércoles finalmente se publicó el Diario Oficial la reforma de pensiones, convirtiéndose oficialmente en ley. Se trata de la ley número 21.735, titulada: “Crea un nuevo sistema mixto de pensiones y un seguro social en el pilar contributivo, mejora la Pensión Garantizada Universal (PGU) y establece beneficios y modificaciones regulatorias que indica”. Eso significa que desde ahora empiezan a correr los plazos para la implementación de la ley, proceso que tardará, en el mejor de los casos, nueve años,...

UK. Three quarters of pension schemes have now adopted net-zero targets

Three quarters (75 per cent) of schemes have adopted net-zero targets, with more schemes than ever taking action to address climate risks, XPS analysis has revealed. The firm published a new analysis of 48 pension schemes' task force on climate-related financial disclosure (TCFD) reports to review climate change risk management and reporting approaches. This showed that three-quarters of schemes have adopted net zero targets, up from 60 per cent last year. Of these, 75 per cent have indicated clear plans aligned to...

U.S. Bill Seeks to Limit ESG Investments in Pension Funds

U.S. lawmakers target ESG in pensions: A U.S. bill previously rejected by Biden seeks to limit ESG factors in pension investments. InnoEnergy accounces €160B clean tech push: With focus on batteries, solar PV, and hydrogen, InnoEnergy mobilizes €160 billion for clean tech. Nvidia hit by China’s new energy efficiency rules: China’s stricter energy efficiency rules threaten chip sales. New PRI data reveals ESG investing remains strong: Report shows responsible investing is still growing despite political setbacks. U.S. lawmakers propose bill to curb ESG...

How one of Japan’s largest insurers is pivoting to serve an aging population

Sompo Holdings, a leading global insurance provider, is undergoing a significant transformation under Group CEO Mikio Okumura. The company, with operations in 28 countries, has restructured into two main segments: Sompo Property and Casualty (P&C) and Sompo Wellbeing. “The integration between Sompo Japan, Sompo International, we hope they can improve resilience. They can utilize balance sheets wisely, so they can improve risk-taking capability,” Okumura told CNBC’s Christine Tan in the latest episode of Managing Asia. Okumura hopes the restructuring will help the company to compete...

The value of active strategies in old-age provision

The choice between active and passive strategies should not be reduced to a binary decision, eg, based solely on fees. Instead, it should reflect the investor’s unique goals, the product framework (eg, unitlinked or pension plans) and the market environment. In the context of old-age provision, we question the suitability of passive strategies. In a competitive market situation, with greater volatility and structural shifts, we think active approaches with selective decisions have greater potential to outperform and protect...