November 2024

Chile. Marcel destaca negociaciones por reforma de pensiones: “Ha habido avances importantes, pero no se puede cantar victoria”

El Ejecutivo espera despachar la reforma antes de enero de 2025, impulsando acuerdos en torno a la mejora de las pensiones futuras, la equidad de género y las condiciones de los jubilados actuales, en medio de crecientes presiones externas. El Ejecutivo está trabajando en la fase final de la Reforma de Pensiones, una de las promesas centrales de la actual administración, con el objetivo de despacharla antes de enero de 2025. La prioridad del Gobierno es construir acuerdos en el...

US PRT Market sees $14B in Volume in Q3

Following a record-breaking first half of 2024 for the U.S. pension risk transfer market, which closed at $26 billion through June 30, the third quarter also finished strong, according to Legal & General Retirement America’s November market update. The third quarter closed at an estimated $14 billion in total premium—a 35% increase from the third quarter of last year, which landed at $10.6 billion. A huge chunk of that total came from one deal: IBM’s $6 billion PRT with Prudential Insurance Co. of America in September...

UK. Retirement planning tops financial advice demand but not a priority until age 55

Planning to achieve a comfortable retirement tops clients’ financial advice ‘wish lists’ over the next six months, but the peak age for it being an advice priority is not reached until the age of 55, according to research from St. James’s Place (SJP). Its study showed that the top three advice priorities in the UK were retirement planning advice, general investment and savings advice, and better budgeting. However, SJP found there was a “large generational divide” as cost of living and...

Extra pension increase passes in Portuguese parliament

The Portuguese parliament approved an additional 1.25% increase in pensions, which will be added to the regular annual increase, on Thursday during the specialised votes on the State Budget for 2025. The Socialist Party (PS) proposal was carried by a majority of votes from opposition parties, with the PCP, BE, Livre, and PAN voting in favour. The PSD, CDS-PP, and Liberal Initiative voted against. The PS has estimated that its proposal has a budgetary impact of €265 million. However, a study of the measure's impact, requested by...

Chile. Reforma de pensiones se encamina hacia recta final: asoman puntos de acuerdo entre gobierno y oposición en los temas clave

En agosto pasado el gobierno acordó con los senadores de Chile Vamos que integran la Comisión de Trabajo un protocolo de tramitación de la reforma previsional, el cual, entre otras cosas, estableció que el proyecto se despachará del Senado en enero de 2025, es decir, dentro de dos meses. Pero desde entonces, no habían existido muchas conversaciones de fondo donde el gobierno pudiera acercar posiciones con estos parlamentarios opositores respecto de los principales nudos de la iniciativa: esto es, la...

Reafirma Pensionissste compromiso con el bienestar financiero de los trabajadores en la Feria de Afores Estado de México

La mayoría de los cuentahabientes realizaron la solicitud de resumen de saldos, alta de expediente de identificación, información para trabajadores no afiliados, información para afiliados, registro de Cuenta Individual y traspaso de Cuenta Individual Afore Afore Pensionissste brindó asesorías a las y los mexiquenses que acudieron para resolver dudas y realizar trámites relacionados con su Cuenta Individual, durante la Feria de Afores Estado de México 2024 que se llevó a cabo del 22 y el 24 de noviembre en el...

New York City Pension Investments with MWBE Asset Managers Reach Record of $23.1 Billion for Fiscal Year 2024; Grew Nearly 40% During Comptroller Lander’s Tenure

New York City Comptroller Brad Lander released a report announcing that investments by the City’s five pension funds with minority- and women-owned asset management firms grew to $23.1 billion in Fiscal Year (FY) 2024, an increase of $6.3 billion, or 37.5% since Lander took office. Assets under management by MWBE firms grew from $16.8 billion in FY22 (11.6% of actively-managed US assets), to $19.5 billion in (12.7%) in FY23, to $23.1 billion (13.3%) in FY24. Investment firms owned by people of color and...

UK. Pensions savings confidence hits seven-year low, says BlackRock

Three-quarters of UK defined contribution pensions savers say they are not on track to achieve a “reasonable standard of living” in retirement, according to asset manager BlackRock, marking the lowest level of confidence in long-term savings prospects since the survey began in 2017. The survey of 1,000 savers across the UK found half of those questioned said they could not afford to save enough for retirement, while over a third of DC members said their “biggest concern” was not having...

UK. Pension scheme panned for reportedly taking Bitcoin position

An unnamed UK pension scheme has sparked controversy after investing 3% of its assets in Bitcoin, becoming the first in the country to do so, according to Sky News. The move has been criticised and called "deeply irresponsible" with the warning that it risks retirees' futures by speculating in volatile assets. The pension scheme's advisor, Cartwright, argued that Bitcoin offers diversification and could yield high returns with minimal downside risk. However, critics, including actuary Daniel Wiltshire, caution that pension funds should prioritize long-term stability...

The Gig Economy in India: A Double-Edged Sword

The rise of the gig economy in India represents a profound transformation in the country’s labour market. Enabled by rapid digitization, growing smartphone usage, and platforms like Uber, Swiggy, and Zomato, millions now perform short-term “gigs” without formal employment. This shift promises flexibility for both businesses and workers, offering companies an on-demand workforce while allowing workers immediate earnings. Yet, this transformation has a dual nature: while it offers flexibility and income opportunities, gig work also brings challenges, such as...