editor, Author at Pension Policy International

08JulJuly 8, 2024

Hong Kong. HSBC fined $3 mln over incentives given to unauthorised agents for MPF scheme

HSBC has been fined HK$24 million ($3.07 million) for offering incentives to "unregistered intermediaries" to get clients to join its Mandatory Provident Fund (MPF) scheme in 2020 and 2021, Hong Kong's pension regulator said. The Mandatory Provident Fund Schemes Authority (MPFA) also said that it disqualified Yip Sze Ki, former head of pensions at HSBC, from taking up senior executive positions at any MPF operator for the next 18 months, according to a statement on Friday. "The MPFA concluded that HSBC...

July 8, 2024

NewsHong Kong, Pension Management, Regulation

08JulJuly 8, 2024

Empowering India’s Gig Workers: The Need for Comprehensive Legislation

In the bustling streets of India's cities, where the hum of traffic meets the aroma of street food, a new workforce is silently shaping the future. These are the gig workers the delivery drivers rushing through narrow lanes to bring you a warm meal, the freelance coders burning the midnight oil to meet a deadline, and the rideshare drivers ensuring you reach your destination safely. They are the backbone of a rapidly growing digital economy, offering flexibility and convenience...

July 8, 2024

NewsIndia, Informal Sector, Labor Market, Regulation

08JulJuly 8, 2024

America’s pension system gets C+ rating, falling behind other countries

America’s pension system is failing to make the grade, according to a recent report from the Schwartz Center for Economic Policy Analysis. “The United States’ pension system consistently ranks below other comparable countries, getting a barely passing grade of C+ in both the 2022 and 2023 Melbourne Mercer Pension Index rankings,” according to SCEPA. Australia, Denmark and the Netherlands each scored grades of B+ or higher. The difference between the United States and those other countries is that mandatory contributions and simple pension management...

July 8, 2024

NewsCoverage, System Characterization, US

05JulJuly 5, 2024

México. Gasto público en pensiones acumula $573 mil millones

Los compromisos pensionarios del gobierno federal continúan con un crecimiento ininterrumpido. Datos oficiales revelan que en los primeros cinco meses de 2024 el gasto en pensiones del gobierno registró un incremento real de 6.7 por ciento en comparación con el mismo periodo del año pasado, por lo que apuntan a cerrar 2024 en un nivel sin precedente. Datos de la Secretaría de Hacienda y Crédito Público (SHCP) indican que entre enero y mayo pasados el monto del presupuesto destinado al...

July 5, 2024

NoticiasGasto Público, Mexico, Pensiones Públicas, Pensiones Sociales

05JulJuly 5, 2024

Japan’s GPIF Loses Status as World’s Biggest Pension Fund

Japan’s Government Pension Investment Fund was dethroned as the world’s biggest pool of retirement savings as a depreciating yen eroded the value of its assets in dollar terms. The fund posted a record gain for the three months through March, generating a 9.5% return, but the yen’s slump to a 38-year low against the greenback was deep enough to put the value of its assets below that of Norway’s wealth fund in dollar terms. Government Pension Investment Fund, Tokyo, posted a...

July 5, 2024

NewsInvestment, Japan, Pension Management

05JulJuly 5, 2024

Judge throws out anti-ESG lawsuit against New York City pension funds

A New York state judge has thrown out a lawsuit against three of the five pensions funds in the $264.3 billion NYC Retirement System, saying New York State Supreme Court Judge Andrea Masley ruled July 2 that she dismissed the complaint because “plaintiffs here have not, and will not, suffer any monetary losses based upon defendants’ investment decisions.” Plaintiffs contended the pension funds' investment decisions would impair their ability to provide long-term benefits for retirees, an allegation Masley wrote was “speculative.” The judge supported...

July 5, 2024

NewsESG, Pension Management, US

05JulJuly 5, 2024

Pensions industry awaits review as Labour wins UK election

After a landslide election win last night, the UK will be looking to Labour to advance key priorities within the pensions industry, including a promise to “review the current state of the pensions and retirement savings landscape”, as per the party’s manifesto. Morten Nilsson, chief executive officer of Brightwell (former BT Pension Scheme Management, the asset management arm of the UK’s largest corporate defined benefit pension scheme), said: “A top priority for the new Labour government will be getting the planned pensions review under way.” He...

July 5, 2024

NewsPublic Policy, Regulation, UK

04JulJuly 4, 2024

Chile. Ejecutivo aplaza votación de la reforma previsional

El Gobierno desistió de la idea de votar en la sesión de hoy la reforma de pensiones en la comisión de Trabajo del Senado. Tras múltiples insistencias y emplazamientos a los parlamentarios para apurar la tramitación de esta reforma, finalmente la ministra del Trabajo, Jeannette Jara, señaló que se renovará la suma urgencia, con lo que se les dará más tiempo a los senadores para cerrar el trabajo que se está haciendo en la mesa técnica. “Durante todo el tiempo que...

July 4, 2024

NoticiasChile, Reforma de Pensiones

04JulJuly 4, 2024

Puerto Rico. Inconsistencia con el Plan Fiscal pondría en jaque aumento a las pensiones

El gobernador Pedro Pierluisi condicionó el miércoles la firma al Proyecto de la Cámara 2038, el cual aumenta en $300 mensuales las pensiones de 160 mil empleados públicos jubilados del Gobierno, a que sea consistente con el Plan Fiscal y el Plan de Ajuste de la Deuda. “A mí me van a tener que indicar si es consistente, por ejemplo, con el Plan Fiscal del gobierno de Puerto Rico y me van a tener que indicar si es consistente con...

July 4, 2024

NoticiasIngreso, Puerto Rico

04JulJuly 4, 2024

Chile. Proyectos de nuevo retiro de fondos de AFP se tramitará este mes

El presidente de la Comisión de Constitución de la Cámara, Miguel Ángel Calisto, anunció que se comenzarán a discutir los proyectos para autorizar los retiros de los fondos previsionales a mediados de este mes. «Se han presentado cerca de cinco mociones parlamentarias de diferentes bancadas políticas, que plantean la posibilidad de un séptimo retiro de fondos de pensiones. En ese contexto, hemos acordado en la Comisión de Constitución iniciar al tramitación durante el día martes 23 de julio», informó el...

July 4, 2024

NoticiasChile, Retiro de Fondos

July 2024