November 2024
01Nov

México. Cómo afectan las UMAs a las pensiones del IMSS e ISSSTE

Dentro del entorno financiero de México, las Unidades de Medida y Actualización (UMAs) han tomado un papel crucial, particularmente en el cálculo de pensiones, un tema de gran importancia para los jubilados del país. La UMA, implementada en 2016 para desvincular las obligaciones económicas del salario mínimo y mitigar el impacto de la inflación, se ha establecido como un estándar para determinar el valor de pagos de multas, impuestos, y más notablemente, las pensiones del Instituto Mexicano del Seguro...

November 1, 2024
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01Nov

UK. Autumn Budget 2024: Implications for pension schemes

The Chancellor of the Exchequer, Rachel Reeves MP, has presented her Autumn Budget 2024 to Parliament. The most significant change for occupational pension schemes is the announcement that most unused pension funds and death benefits payable from a pension will be brought into a person’s estate for inheritance tax purposes from 6 April 2027. Currently, most lump sum death benefits are not chargeable to inheritance tax. The government has published a technical consultation on the processes required to implement this change...

November 1, 2024
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01Nov

US. The union fight to resuscitate the Boeing pension is a battle over the American dream

Machinists at aerospace giant Boeing have been on strike for nearly seven weeks. The union members want larger pay increases and improved retirement benefits, and the two sides have made some headway on the terms of a new contract. But there is one issue where they remain far apart: the revival of the company pension plan. The work stoppage has shuttered Boeing’s  BA 3.68%  production in the Pacific Northwest and contributed to a recent $6 billion loss for the company,...

November 1, 2024
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01Nov

Why older adults are especially vulnerable to climate change

When Hurricane Katrina devastated New Orleans in 2005, people ages 60 and older accounted for 75% of the deaths. During the Pacific Northwest heat wave of 2021, most of the nearly one thousand who died were older adults. People over age 65 accounted for three-quarters of the deaths in Washington state; in Oregon’s Multnomah County, the average age of the dead was 70. In the deadliest U.S. wildfire in more than a century — at Lahaina, Hawaii, in 2023 — more than two-thirds of the...

November 1, 2024
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01Nov

UK. Former miners celebrate ‘hard-fought’ win in pension scandal

Former miners have said they are delighted their “hard-fought campaign has finally paid off” after the government said it would end the pension scandal that left many of them “dying in abject poverty”. In her first budget on Wednesday, Rachel Reeves announced the £1.5bn mineworkers’ pension fund would be handed over in its entirety to ex-miners and their families, after years of campaigning on an unjust agreement that allowed the government to take half of their pension surplus. The pensions...

November 1, 2024
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October 2024
31Oct

México. Senado aprueba reformas para pensiones de adultos mayores, personas con discapacidad y apoyos a productores

Por unanimidad de 123 votos, el pleno del Senado de la República aprobó en lo general y lo particular las reformas a los artículos 4 y 27 de la Constitución, que garantizan una pensión a las personas con discapacidad permanente, adultas mayores de 65 años, así como un apoyo a productores, pescadores y campesinos. El dictamen obliga a que el Estado garantice la entrega de un jornal seguro, justo y permanente a campesinos que cultiven sus tierras con árboles frutales, maderables y especies que requieren ser procesadas, así como...

October 31, 2024
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31Oct

Chile. Reforma previsional: Comisión de Trabajo del Senado continuó con discusión sobre Fondos Generacionales

El proyecto del Gobierno propone que este mecanismo reemplace a los actuales multifondos.  Además, la instancia inició el debate en torno a modificaciones del Régimen de Inversión.  Valparaíso, 30 de octubre de 2024. La Comisión de Trabajo y Previsión Social del Senado continuó este miércoles con el debate de la propuesta para transitar desde un esquema de Multifondos a uno de Fondos Generacionales, que comenzó en la sesión del 9 octubre. También, inició el estudio de las modificaciones presentadas para...

October 31, 2024
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31Oct

US. State treasurer elections to impact pension funds, auto IRA programs and ESG

Though most attention is on the presidential race this election season, several state treasurer races could determine the future of pension funds and other retirement programs for Americans all over the country. Many of those vying for the office of state treasurer are focused on improving their states’ pension funds, while other candidates hold conflicting views over state auto IRA programs — programs that create a retirement plan for those whose employers don’t offer one. In a handful of states,...

October 31, 2024
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31Oct

Pensions Minister set out Government’s objectives to boost UK investment and improve saver returns

In a keynote speech at a recent pensions conference, Emma Reynolds set out two key objectives: to improve the level of pension fund investment in the UK economy and to improve savers’ returns. Notable points in the speech to the Pensions and Lifetime Savings Association’s annual conference included: Building on the Mansion House Compact and confirming an interim report on the first phase of the government’s Pensions Review would be published before Christmas, with a final report next year. Commenting...

October 31, 2024
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31Oct

South Korea: Pension subscribers allowed to change pension fund managers starting today

Financial institutions in South Korea, including insurance companies, have been busy with plans to attract customers who wish to switch the companies managing their pension accounts. Starting today (31 October), pension subscribers are allowed to shift their accounts to other financial companies without having to terminate the pension plans with the pension fund manager they wished to move from. According to the Financial Supervisory Service, as of 30 September 2024, total pension funds amounted to KRW400.79tn ($290bn). Of this total, insurance companies accounted for KRW93.27tn...

October 31, 2024
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