January 2025
27Jan

Llega al pleno del Senado chileno la reforma de pensiones

Luego de un intenso trabajo en comisiones, el Senado chileno comenzará hoy el debate del proyecto de reforma previsional que, en esencia, busca mejorar las pensiones, reducir las brechas de género y crear un Seguro Social. La iniciativa, presentada por el Gobierno, ya fue aprobada por las comisiones de Trabajo y Hacienda y, de ser adoptada en el plenario, pasará a la Cámara de Diputados. Según declaró el presidente del Senado, José García Ruminot, la discusión de la propuesta comenzará a...

January 27, 2025
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27Jan

UK. Reeves set to announce plans for DB pension surplus rule changes

Chancellor, Rachel Reeves, is expected to reveal a range of initiatives to promote economic growth later this week, including plans to make it easier for sponsors of defined benefit (DB) pension schemes to access surplus funds, Sky News has reported. According to the reports, Reeves is set to announce that she wants to change DB surplus rules to boost investment in the UK economy, with government sources suggesting that this could unlock more than £60bn of pension surpluses held in DB schemes. At...

January 27, 2025
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27Jan

2025 Pension Updates And Tax Changes Impact Mexican Retirees

Pension payments now subject to taxes after surpassing new UMA thresholds starting this year. Every year at the start of January, the value of the Unidad de Medida y Actualización (UMA) increases, leading to adjustments in the exempt amounts for pension payments. Recently, it was announced once again the increment of this measure, which is pivotal for various obligations and taxes levied by both the federal government and the states. The UMA not only plays a role in determining tax...

January 27, 2025
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27Jan

Finland. Main labour federations greenlight pension reform

Three major labour-market groups have approved a pension reform plan negotiated with employers’ groups and backed by the government of Prime Minister Petteri Orpo (NCP). The boards of the Central Organisation of Finnish Trade Unions (SAK), the Finnish Confederation of Professionals (STTK), and the Confederation of Unions for Professional and Managerial Staff in Finland (Akava) all gave their blessing to the plan on Monday. Labour market organisations reached a compromise deal on pension system reforms last Monday. The Orpo cabinet’s economic policy committee decided...

January 27, 2025
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27Jan

Iran Protests: Nationwide Demonstrations Highlight Economic Injustice and Suppression

Today, January 27, 2025, protests erupted across multiple cities in Iran today, as retirees, farmers, workers, and defrauded citizens rallied against the regime’s economic mismanagement, systemic corruption, and oppressive tactics. Demonstrations highlighted a variety of grievances, from pensions and wages to access to water rights and freedom from arbitrary arrests. In Zanjan, northwest Iran, retirees from the Telecommunication Company of Iran (TCI) resumed their protests, calling for higher pensions and an end to mismanagement. Similar protests were held in Ahvaz, southwest Iran,...

January 27, 2025
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24Jan

México. Tope a comisiones de las Afores le ahorrará 175,000 mdp a los trabajadores: Consar

Los topes a las comisiones de las Afores que estableció el gobierno desde el 2022 le representará ahorros por 175,000 millones de pesos a los trabajadores para el 2030, de acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). A partir de las reformas que se hicieron al Sistema de Ahorro para el Retiro (SAR) en el 2020, y que entraron en vigor en diciembre del 2021, se estableció un tope máximo a las...

January 24, 2025
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24Jan

Chile. Pensiones: Hacienda aumenta la gradualidad del alza de la cotización a 11 años si ingresos tributarios no rinden lo esperado

Fue un tema que se discutió en la jornada del miércoles. Y hoy el ministro de Hacienda, Mario Marcel la concretó. La gradualidad del alza de la cotización adicional se moderará en caso de que el ingreso previsto por la ley de Cumplimiento de Obligaciones Tributarias o antievasión no rinda lo previsto. De acuerdo a lo señalado por el titular de las finanzas públicas, al tercer año de implementación de la ley antievasión, se realizará una evaluación externa la que...

January 24, 2025
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24Jan

US Pension Plan Managers Split on Primary Benefit of Private Assets

As an increasing share of pension funds increase their allocations to private markets, plan managers are split on the benefit these assets have in their portfolio. Most pension fund executives also expect distributions from private equity, which have been lower in recent years, will increase over the next three years. According to a survey from Ortec Finance B.V., which interviewed pension fund executives in the U.S. about their expectations for the next three years, approximately 74% said they expect higher...

January 24, 2025
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24Jan

China: Expansion of voluntary personal pension system

Employer Action Code: Act In 2022, China’s central government piloted new tax incentives in 36 cities and regions to encourage employees to make voluntary contributions to individual retirement accounts to complement social security pension benefits and help address the challenges of a rapidly aging population. After a successful pilot, the system is now fully implemented nationwide as of December 15, 2024. Key details The following changes to the individual accounts under the pilot program have been made: Money may be withdrawn in...

January 24, 2025
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24Jan

Australia. Avoiding the retirement poverty trap

More than one fifth of Australian retirees live in poverty, according to a recent report by the left-leaning think-tank, The Australia Institute. The Reducing poverty in retirement report compares the poverty rate of people aged 65 and over between Australia, Sweden, and Norway, which are nations with comparable GDPs. It concludes that the public pension systems in Sweden and Norway ensure retirement security while Australia’s system does not. The rate of poverty in retirement in Australia is 22.6% – more than one in five. In...

January 24, 2025
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