February 2025

France’s latest pensions battle could ignite fresh political crisis

President Emmanuel Macron braved strikes and street protests to force through a deeply unpopular reform in 2023 raising France's retirement age by two years to 64, saying it was the only way to keep the generous but costly pension system afloat. Now an assessment this week by the country's independent public audit office on the size of the pension deficit could rekindle debate about the divisive reform and plunge Macron's fragile, debt-laden government back into crisis. Francois Bayrou, Macron's latest prime minister, requested...

US. What the 2025 Social Security Age Change Means for Retirement Planning

If you're nearing retirement, you’ve probably wondered when to start taking Social Security benefits. For years, age 65 was considered the “normal” retirement age, but a law passed in 1983 gradually raised this age to reflect the increasing life expectancy of Americans.1 As of 2025, the full retirement age (FRA) is still rising depending on your birth year.2 Knowing when to claim benefits can significantly impact your monthly checks. Key Takeaways Full Retirement Age rises to 66 years and 10 months for those born in 1959. ...

CPPIB becomes major shareholder of Spanish Group HBX in its stock market debut

HBX Group has successfully gone public on the Spanish stock exchanges, marking the largest IPO in Europe this year and the first listing of a British company in Spain since Brexit. The transaction, valued at approximately €3 billion, underscores the company’s position as a key player in the travel technology sector. The transaction has included the completion of an initial put and subscription offer for shares by HBX Group’s major shareholders (CPPIB and vehicles controlled by funds managed or advised...

Afores reducen su participación en la renta variable mexicana: Consar

Las Administradoras de Fondos para el Retiro (Afores) redujeron sus inversiones en el mercado bursátil nacional de enero del 2024 a enero del 2025, de acuerdo con los datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). En enero del año pasado, las administradoras de los recursos de más de 74.2 millones de cuentas, invirtieron 447,070 millones de pesos en acciones de empresas listadas en el mercado mexicano, lo que correspondía al 7.42% de los 6.02...

Colombia. Ministerio del Trabajo publicó borrador de decreto que regularía la reforma pensional

El ministerio del Trabajo informó que publicó el borrador de decreto que regula parcialmente la reforma pensional para dar a conocer los detalles y aspectos centrales del Sistema de Pensiones, para que los ciudadanos hasta el 3 de marzo hagan sus revisiones y posteriormente sus observaciones. La cartera laboral detalló que el proyecto tiene varios aspectos claves de los pilares, como lo son el solidario a cargo del Departamento de Prosperidad Social y el semicontributivo a cargo de Colpensiones. La ministra del Trabajo...

Español. El impacto de las subidas de las pensiones: ¿afecta a las futuras generaciones?

El Consejo de ministros de España aprobó el pasado 28 de enero un nuevo decreto que garantiza la subida de las pensiones en 2025 conforme al aumento del coste de la vida. Así, las pensiones contributivas y las de clases pasivas del Estado suben un 2,8 %, las pensiones no contributivas y el ingreso mínimo vital aumentan un 9 %, la pensión de viudedad con cargas se incrementa un 9,1 % y las pensiones del Seguro Obligatorio de Vejez e Invalidez (SOVI),...

The UK pensions dashboard faces new delays

The long-awaited pensions dashboard is facing fresh delays and may still not be ready to roll out next year – more than a decade after it was first proposed. The Government’s dashboard, designed to allow people to view all their pension pots in one place, has been beset by a series of delays and is tens of millions of pounds over budget. A National Audit Office report in May last year found that the cost of the project had increased from £235m in 2020...

Older adults are driving workforce innovation in a digital economy. Here’s how

Businesses and governments must recognize the impact and potential of older adults as the global workforce shifts due to ageing populations. Many older adults want to work, upskill and contribute in a digital-first world, but face structural barriers such as ageism and technological gaps. As global leaders navigate workforce challenges, they must embrace policies that foster lifelong learning, equitable hiring and digital inclusion. As the global workforce shifts due to ageing populations, businesses and governments must recognize the impact...

Lithuania’s planned second pillar reforms alarm pensions industry

Proposed changes to Lithuania’s quasi-mandatory second pillar pensions system have been widely criticised as a threat to the system as a whole. The government – a coalition led by the centre-left Social Democrats – said the aim is to increase the attractiveness and flexibility of the second pillar, ensure the voluntary involvement of participants and employers, and balance financial incentives. At present, there is automatic enrolment, with a limited ability to opt out. The changes include abolishing auto-enrolment, instead encouraging the public to...

Bangladesh. Informal economy under stress

In the bustling lanes of Dhaka's Karwan Bazar, Rina Begum, a 42-year-old street vendor, arranges fresh vegetables on her wooden cart before sunrise. Her business-unregistered, untaxed, and absent from official GDP reports-is part of Bangladesh's informal economy, a vast network of small-scale, unregulated ventures that employ millions. Globally, the informal sector accounts for over 60 per cent of employment; in Bangladesh, it sustains 85 per cent of the workforce, from rickshaw pullers to home-based garment workers. Yet, as inflation...