July 2024
02Jul

UK. DC pension schemes see rise in investments in assets with climate targets

The defined contribution (DC) pension scheme market has seen almost a quarter (23%) increase in schemes’ investment in assets with climate targets since 2021, according to research from Barnett Waddingham. The majority (86%) of DC pension schemes have set targets to reach net-zero by 2050, with 18% of these targeting 2040. Of the pension schemes that have set net-zero targets, 81% have committed to achieving interim targets, in many cases aiming to achieve a 50% emissions reduction by 2030. Barnett Waddingham said:...

July 2, 2024
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02Jul

US. It’s time for Gen X–ers nearing 60 to give their retirement plans a reality check

The oldest members of Generation X — that generation born between 1965 and 1980 and known for its irreverence, sarcasm and indifference — are hitting 59½ and eligible to start withdrawing money from retirement accounts without penalty. But should they be touching their nest eggs so soon? As the first do-it-yourself generation funding retirement largely without private pension plans, many members of Gen X graduated college or high school during a recession. They got their first jobs when 401(k)s were...

July 2, 2024
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02Jul

Pakistani govt ends multiple pensions, limits family payouts amid major reforms

Pakistan's pension system saw major amendments under Pay and Pension Commission of 2020 to deal with future increase in pension costs. The incumbent government implemented new regulations restricting multiple pensions and limiting pension payments to family members to maximum of 10 years. Under latest reforms, the gross pension amount will now be calculated as 70 percent of the average pensionable earnings received during the last 2 years of service before retirement. Finance Division made following key amendments which will be effective from...

July 2, 2024
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01Jul

México. Disparidad en pensiones: jubilados de CFE reciben las mejores, ISSSTE de los más castigados

En el país y por tanto en el estado de Puebla existe un sistema de pensiones deficiente y desigual para los trabajadores, pues mientras unos alcanzan esta prestación hasta que cumplen los 60 años de edad, como mínimo, y con un pago recortado al 75 por ciento de su salario, otros, un grupo reducido de privilegiados, la reciben a los 46 años y al 100 por ciento. Esta diferencia provoca que unas personas vivan cómodamente de su pensión y otras se enfrenten a retos económicos al término de su...

July 1, 2024
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01Jul

Argentina. Jubilaciones: el Gobierno pagará un nuevo bono de $70.000 en julio

Pese a que Javier Milei lo puso en duda, el Ministerio de Economía confirmó a Ámbito que en julio se pagará un nuevo bono de $70.000 a los jubilados y pensionados, mismo ajuste que vienen cobrando desde el mes de marzo. Por el momento no habrá otros cambios y se espera que en los próximos días se oficialice la decisión a través del Boletín Oficial. ANSES entregó por cuatro meses consecutivos un bono de $70.000 para reforzar los ingresos del...

July 1, 2024
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01Jul

Más allá de las pensiones: la reforma tiene un efecto dominó en la economía colombiana, así la afectaría

A medida que pasan los días se van conociendo más efectos que tendría la reforma pensional del Gobierno Petro, aprobada por el Congreso, en diversos sectores de la economía colombiana. No solo por los ajustes en las formas en cómo lo trabajadores cotizarán para su pensión y cómo se distribuirá ese aporte al sistema pensional, sino que habrá un cambio estructural en la manera en que se gestiona la inversión y se financian los proyectos a nivel nacional. Por eso, el reciente análisis...

July 1, 2024
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01Jul

US. CalPERS breaks with its past

Over the past year, the US’s largest public pension system, CalPERS, has been making some interesting moves. CalPERS has been making commitments to private equity funds much smaller in size than it has traditionally targeted, including growth-oriented and venture capital vehicles. Historically, CalPERS has built its private equity portfolio to reflect its own massive size – choosing large funds into which it could make sizable investments that gave it outsized influence on the GP and potential access to choice economics and...

July 1, 2024
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01Jul

UK. L&G launches DC private markets offer and target date fund range

Legal & General (L&G) has launched a private markets fund and a target date fund range in a bid to offer defined contribution (DC) members the opportunity to access diversified private markets exposure. The L&G Private Markets Access Fund – which will be available for DC schemes to invest in directly and via a newly launched range of target date funds, the L&G Lifetime Advantage Funds – will offer a single point of access to a diversified portfolio of private...

July 1, 2024
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01Jul

Financial Security In Retirement Comes With A High Price Tag

It takes a lot of money to be financially secure in old age. Federal Reserve data suggests that to be financially secure in retirement, people will likely need more than $500,000 in savings. In assessing how retirees are faring, it is important to go beyond simply asking people how they are feeling about their situation and look under the hood at objective measures of well-being. The Federal Reserve’s Survey of Household Economics and Decisionmaking (SHED) is designed to capture various...

July 1, 2024
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01Jul

Korea to launch population ministry to address low birth rates, aging population

Korea will launch a new ministry of population strategy to address low birth rates and a rapidly aging population, which have emerged as some of the starkest challenges facing the country, officials said Monday. The government unveiled the plan following high-level meetings with the ruling party, saying that a revised government organization act will be proposed within July for the launch of the ministry. Once established, the new ministry will focus on strategy and planning for demographic issues, such as low...

July 1, 2024
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