May 2024
10May

US. Congress Should Incentivize Pension Plan Creation, NIRS Report Says

The National Institute on Retirement Security has published a report providing recommendations to Congress about how to increase defined benefit plan creation in the private sector. The report was commissioned by the Senate Committee on Health, Education, Labor and Pensions. The report makes six core policy recommendations: reduce Pension Benefit Guaranty Corporation insurance premium rates; formally recognize risk-sharing plans; provide more flexibility for overfunded plans; allow pre-tax employee contributions; and permit transfers between defined contribution and DB plans. Lower Insurance Premiums The PBGC charges...

May 10, 2024
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10May

UK government’s Pensions Dashboards Programme delayed

The UK government’s high-profile Pensions Dashboards Programme (PDP) is behind schedule due to ineffective governance and a lack of people with the right skills and experience, a National Audit Office (NAO) report has revealed. This has contributed to pushing the date for the new platform to be connected to providers to October 31, 2026, a year later than planned. Costs have also risen from £235 million ($295 million) in 2020 to £289 million in 2023, an increase of 23%. The Pensions Dashboards Programme (PDP)...

May 10, 2024
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10May

Ghana. PFAG, IPTC partner to provide pensions for smallholder farmers

The Peasant Farmers Association of Ghana (PFAG) and the Industrial Pensions Trust Company (IPTC) have launched a significant partnership with the goal of offering affordable, flexible, and sustainable retirement planning products through the Nkɔsoɔ Pensions and Welfare Scheme for smallholder farmers. This momentous occasion took place at the PFAG pre-season durbar and inaugural Peasant Farmers Day Celebration held in Navrongo, Ghana, on April 25, 2024. Themed ‘Deepening the Role of Smallholder Farmers in Promoting Food and Nutrition Security in the...

May 10, 2024
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10May

US. Public Retirement Systems Need Policies for Navigating Volatile Financial Markets

Over the past decade, policy reforms and increased financial contributions have dramatically improved the cash flow situation of some of the nation’s most troubled state pension plans. Thanks to these changes, no state was at risk of pension insolvency as of fiscal year 2021. Yet for some states, these improvements won’t be enough to provide their pension systems—and the public employees and retirees who rely on them—with long-term stability. In 2021, once-in-a-generation investment returns raised state pension funding to levels...

May 10, 2024
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09May

México. Propone AMLO que Banco del Bienestar cobre comisión a programas sociales.

El presidente, Andrés Manuel López Obrador presentó a la Comisión Permanente del Congreso de la Unión, una propuesta de reformas a la Ley Orgánica del Banco del Bienestar y a la Ley Federal de Presupuesto y Responsabilidad Hacendaria, con el objetivo de fortalecer a esta institución financiera. La propuesta radica en que el Banco pueda recibir el 1.5% sobre el monto aprobado por distribuir los recursos de los programas sociales, como las pensiones del Bienestar, las becas Benito Juárez, la Escuela es Nuestra...

May 9, 2024
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09May

Chile. Boric emplaza al Congreso a legislar reforma de pensiones en mayo: “¿Hasta cuándo la van a seguir deteniendo?”

El presidente Gabriel Boric emplazó este miércoles al Parlamento por “seguir deteniendo” el avance de la reforma de pensiones. ¿Qué pasó? Fue en medio de una actividad en la que el ejecutivo entregó incentivos a agricultores de la comuna de Peralillo, Región de O’Higgins, que el mandatario abordó el tema, a propósito de una conversación que sostuvo con una vecina del sector. El jefe de Estado relató que la vecina le contó que debía seguir trabajando duramente a sus 76 años porque “las pensiones están bajitas”. Boric pausó un...

May 9, 2024
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09May

Pagar de nuevo la mesada 14 significaría otra deuda extra para los colombianos

En una reciente propuesta que busca modificar la Constitución de Colombia, la ministra del Trabajo, Gloria Inés Ramírez, planteó que se reintegre el pago de la mesada 14 para los pensionados como una medida para mejorar el poder adquisitivo de los hogares en el país. “Y la mesada 14, que todos quisiéramos, ¿usted sabe quién la quitó? ¿Quién? Ah, bien, pues para volverla tenemos que hacer una reforma a la Constitución”, cuestionó Ramírez el lunes 6 de mayo durante la...

May 9, 2024
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09May

US. Corporate pension funding surpluses remain high in April – 3 reports

U.S. corporate pension fund surpluses remained high in April despite negative market returns for the month, according to three new reports. Wilshire Advisors estimated the aggregate funding ratio of U.S. corporate plans reached 110.8% as of April 30, an increase of 1.1 percentage points above the 109.7% funding ratio estimated as of March 31. "April’s funded status increase resulted from the increase in Treasury yields, which led to the largest monthly decline in liability values since September 2022. Corporate bond yields,...

May 9, 2024
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09May

Two in five current UK retirees have ‘retirement regrets’

Two in five (40 per cent) current UK retirees would have done something differently in how they approached their retirement, research from Canada Life has found. The research revealed that almost one in five (17 per cent) retirees would have increased pension savings while working, whilst just over one in 10 (12 per cent) would have made lifestyle adjustments while working to save more for their retirement. Furthermore, the firm found that nearly one in 10 (8 per cent) current retirees...

May 9, 2024
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09May

Kenya. Pension funds cut stock holdings to 11-year low of Sh145 billion

Pension funds cut their holdings in listed shares (equities) to an 11-year low of Sh145.1 billion in the year ended December 2023, signalling reduced allocation to this asset class besides the impact of lower stock prices in the review period. New data from the Retirement Benefits Authority (RBA) shows that retirement schemes' investment in the stock market fell from Sh215.24 billion a year earlier. The disclosure of the latest holdings marked the lowest level since 2012, coinciding with the continued bear...

May 9, 2024
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