February 2024
16Feb

Canada. CPPIB commits $475 million to private equity

CPPIB commits $475 million to private equity Canada Pension Plan Investment Board, Toronto, disclosed $475 million in private equity commitments it made in the quarter ended Dec. 31, the third quarter of its fiscal year. CPPIB committed $240 million to TPG Partners IX, a buyout fund that focuses primarily on healthcare, software, and digital media and communications; as well as $60 million to TPG Healthcare Partners II, a buyout fund that focuses solely on healthcare. Both funds target upper-middle-market and large-growth...

February 16, 2024
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16Feb

South Korea has the world’s lowest fertility rate. Seoul’s mayor thinks he has a solution: a city-sponsored dating event

South Korea has the world’s lowest fertility rate, at just 0.78 births per woman as of 2022. It’s likely to get even worse, with Statistics Korea, the country’s official statistics bureau, forecasting a rate of just 0.72 for 2023. That would be three times lower than the often-accepted replacement rate of 2.1, the number of births needed to keep a population at a stable level. It’s even worse in Seoul, the nation’s capital, where the fertility rate is just 0.59....

February 16, 2024
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15Feb

Puerto Rico. Agentes pensionados se encadenan frente al Ministerio de Hacienda

Dos agentes pensionados se amarraron con cadenas en las puertas del Ministerio de Hacienda, donde se manifiestan en reclamo de sus indemnizaciones. Con ayuda de los otros policías y militares, se subieron al portón de hierro y se aseguraron con un candado. Desde tempranas horas de este martes han estado protestando, uno de ellos dijo que “hoy en día un teniente que gana diez mil pesos solo le aumentan mil". “Está bueno ya de tanto abuso”, dijo otro de los manifestantes. Expresaron que se mantendrán ahí hasta que...

February 15, 2024
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15Feb

Perú. José Arista, nuevo ministro de Economía: ¿de cuánto fue el retiro AFP que aprobó en su anterior gestión?

José Arista asumió el liderazgo del Ministerio de Economía y Finanzas en reemplazo de Alex Contreras, quien cumplió poco más de un año en el cargo y enfrentó los embates de la recesión y un agravamiento de la desconfianza empresarial. Arista, quien antes fue titular del MEF en el breve gobierno de Manuel Merino, no pudo ejercer competencias amplias debido a su temprana salida, sin embargo en medio de su periodo estaba pendiente la oficialización de un retiro de los fondos de pensiones como alivio financiero para enfrentar las consecuencias económicas...

February 15, 2024
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15Feb

Cifras del sistema pensional reflejan crecimiento en RD

Según los datos publicados por la Superintendencia de Pensiones (Sipen), cortados al 30 de noviembre de 2023, el sistema de pensiones en República Dominicana continúa mostrando un crecimiento sostenido y una solidez en sus cifras. El número total de afiliados al sistema alcanzó para entonces los 5,010,230, lo que representa un aumento de 39,398 afiliados (0.8 %) en comparación con el período anterior (que fue agosto del mismo año). Esta tendencia positiva refleja la confianza de la población en la importancia...

February 15, 2024
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15Feb

U.S., U.K. delivery, ride-hailing drivers stop work on Valentine’s Day over pay, employee benefits

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. In the U.S., Uber Technologies Inc. and Lyft Inc. drivers planned day-long strikes and held mid-day demonstrations at airports in several cities, including Chicago, Philadelphia, Pittsburgh, Miami, Orlando and Tampa, according to Justice for App Workers, the group organizing the effort. Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and...

February 15, 2024
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15Feb

US. Public retirement systems’ investment management expenses dip to 4-year low

Public retirement systems saw their investment management expenses drop significantly in fiscal 2023 from the prior year, reaching a four-year low, according to an annual study by the National Conference on Public Employee Retirement Systems. In fiscal 2023, surveyed retirement systems averaged investment management expenses of 39 basis points, down from 49 basis points the year before, while administrative expenses remained steady, according to the study. A Feb. 12 news release revealing the results of the study said the four-year low...

February 15, 2024
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15Feb

UK. DWP has ‘no plans’ to raise frozen state pension payments for 500,000 expats, minister confirms

The Department for Work and Pensions (DWP) has “no plans” to raise frozen state pension payments for 500,000 Britons living abroad, a Government minister has confirmed. Pensions minister Paul Maynard told MPs the Government will not be introducing a “change to its longstanding policy”. Pensioners who retire overseas in certain countries, including Canada and New Zealand, have their payments frozen at the rate they were paid when they left the UK. An estimated 500,000 older Britons do not receive the full state pension entitlement they...

February 15, 2024
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15Feb

Retirement income literacy lacking among older Americans

The American College of Financial Services has unveiled the findings from its 2023 Retirement Income Literacy Study, spotlighting a significant gap in retirement knowledge among older Americans. Drawing from a survey of more than 3,765 individuals ages 50 to 75, the study found a concerning lack of knowledge, with participants garnering an average score of 31% on a retirement literacy quiz. “In the U.S., with the exception of Social Security and the comparatively small number of workers with guaranteed pensions, saving...

February 15, 2024
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15Feb

UK. What can schemes do to close the gender pension gap?

Fundamental changes in society are still needed but the pensions industry appears determined to help close the yawning gap between men and women’s retirement incomes. A Pensions Policy Institute (PPI) report in partnership with NOW: Pensions estimates that a girl would need to start saving towards a pension at three to close the vast gender pensions gap between men and women. The PPI’s report, released earlier this month, revealed how by retirement age (67), women had average pension savings of £69,000 compared to...

February 15, 2024
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