January 2025

España. La Seguridad Social dispara su deuda por las pensiones y supera ya los 126.000 millones

Apenas hay tregua para el agujero de las cuentas públicas. La deuda del conjunto de las administraciones registró en noviembre un descenso del 0,4% en un mes, menos de 6.000 millones, para dejar la cifra definitiva todavía por encima de los 1,62 billones de euros. Este ajuste respecto a octubre se ha producido gracias al descenso del endeudamiento del Estado, tras meses de continúas incrementos, y también a la caída en ayuntamientos, mientras que tanto las comunidades autónomas como...

U.S. DB pension payouts generating US$1.5 trillion in economic output: report

In 2022, U.S. retiree spending — driven by private and public sector defined benefit pension payouts — generated US$1.5 trillion in total economic output and supported 7.1 million jobs, according to a new report by the National Institute on Retirement Security. It found in addition to the impact on employment and economic activity, DB pension payouts added $224.3 billion in tax revenue at the federal, state and local levels. The report noted $680.6 billion in pension benefits were paid to 26.3...

Some British local government pension schemes object to UK pooled fund plans

 Almost a third of Britain's local government pension schemes object to UK plans to consolidate more of their assets into pooled funds, saying the plans raise the potential for poor investment returns, adviser Hymans Robertson said on Thursday. The UK government wants to increase pooling of local government assets, opens new tab to boost domestic pensions investment in British companies, including start-ups, because it sees larger pooled funds as better placed to make such investments. Under the proposals, schemes would be...

Advocates claim high-risk gas assets are liabilities for pensions

Adam Scott believes pension fund managers who invest in gas are in trouble. Particularly, those who think high-risk gas assets can be saved by hydrogen. This might come as a shock because pension fund managers have long seen gas infrastructure as a low-risk investment. Historically, regulated gas assets offered stable returns and seemed to be a safer, lower-carbon option compared to other fossil fuels. But Scott, executive director at Shift Action for Pension Wealth and Planet Health, says these...

Diputados chilenos proponen plebiscito para definir futuro de administradoras de pensiones

Diputados chilenos del oficialismo presentaron este martes un proyecto de ley para plebiscitar el futuro de las llamadas Administradoras de Fondos de Pensiones (AFP), las empresas privadas que en Chile gestionan los ahorros previsionales de los trabajadores a través de inversiones en el mercado financiero. La propuesta considera incluir una papeleta en las elecciones presidenciales y parlamentarias que se celebrarán en noviembre de este año para consultar a la ciudadanía: “¿Quiere usted que las AFPs administren sus fondos previsionales?”, con...

México. Jóvenes recurren a las criptomonedas para asegurar su retiro ante la incertidumbre de las pensiones

En un panorama marcado por la incertidumbre económica y la falta de confianza en los sistemas tradicionales de pensiones, un creciente número de jóvenes en México y el mundo ha optado por invertir en criptomonedas como una estrategia para garantizar su futuro financiero. La preocupación por la sostenibilidad de los sistemas de pensiones es un tema recurrente en los debates económicos. Diversos estudios señalan que, en las próximas décadas, el envejecimiento de la población y la falta de reformas estructurales podrían...

Colombia. En 2024 las AFP se ‘cargaron’ de deuda del Gobierno y los extranjeros vendieron

En el 2024 los fondos de pensiones colombianos fueron los mayores compradores de deuda del Gobierno en contraste de los fondos de capital extranjero y el Banco de la República que lideraron las ventas. Colombia emite deuda a través de títulos de tesorería (TES), de estos hay COP$582,2 billones de los cuales la mayor proporción está en poder de los fondos de pensiones. Al cierre del 2024 las AFP tenían el 32,3% del saldo, es decir, unos COP$188 billones. Prácticamente duplica al segundo,...

The gap is widening between super-ageing and youthful populations. Experts explain the implications

The World Health Organization defines “super-ageing” societies as countries with more than 20% of their population over the age of 65 years old. From pension crises to labour shortages, super-ageing societies pose a global economic and labour market risk over the next decade and beyond, even for countries still benefiting from their demographic dividend. The World Economic Forum’s Global Risks Report 2025, highlights these concerns. With that in mind, we asked our in-house experts the following question: Global demographic divergence is expected to...

Bank of England warns billions of pounds in UK pension pots at risk

The UK's main financial regulator has told insurance companies it can foresee an "endemic risk" in using insurance cash from foreign companies to pay out pensions. In an advisory notice sent out to insurance companies last week the Bank of England said it was concerned about an increase in the growing use of a type of insurance known as funded reinsurance. Gareth Truran, executive director and Shoib Khan director, said there was a risk with this type of funding and that...

​Sweden. KPA calls for action on pensions investment in local climate adaptation

KPA Pension, which manages pensions for local authorities, said action needs to be taken to improve the framework for pension funds to invest in climate change preparedness in Sweden, arguing that most scheme members favour their savings being invested in that way. The SEK300bn (€26bn) pension fund, a subsidiary of pensions and insurance group Folksam, published a report on Friday on Sweden’s need to undergo the green climate transition, adapt society to a changing climate and to build civil preparedness...