editor, Author at Pension Policy International

08JulJuly 8, 2024

Colombia. Reforma pensional: nuevas reglas dan protagonismo a las aseguradoras

El papel de las aseguradoras en el nuevo sistema pensional propuesto por el gobierno de Gustavo Petro ganó protagonismo. La reforma introduce cambios significativos en la manera en que se cubrirán los riesgos de invalidez y sobrevivencia para todos los afiliados, estableciendo nuevas reglas de juego. Durante el proceso legislativo, la Federación de Aseguradores Colombianos (Fasecolda) expresó su apoyo a la reforma, aunque con reservas, calificándola como un “paso en la dirección correcta”. Según Fasecolda, era preferible aprobar el proyecto antes...

July 8, 2024

NoticiasColombia, Reforma de Pensiones

08JulJuly 8, 2024

UK. The Pensions Regulator to challenge master trusts on investments

The Pensions Regulator will shift its focus onto the making sure master trust investments deliver for savers, now it has taken regulatory responsibility of these vehicles. The growth of master trusts has been driven by the introduction of automatic enrolment in 2012 and in 2018 the Government introduced a regulatory framework which meant only master trusts authorised by TPR were permitted to operate. Neil Bull, TPR’s executive director of market oversight, said following the completion of this process the regulator would...

July 8, 2024

NewsInqvestment, Regulation, UK

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

July 2024