April 2024
29Apr

Germany to hike pensions nationwide by 4.57%

The more than 21 million pensioners in Germany would receive a substantial 4.57 percent pension increase beginning on July 1, after the German Cabinet approved the adjustment in Berlin. With this increase, pensions are set to rise faster than inflation in the country. The last time pensions rose faster than inflation was in 2000. The increase is larger than originally predicted, which the Labour Minister Hubertus Heil, credited to strong wage growth in Germany. In the autumn, estimates had predicted an increase of...

April 29, 2024
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29Apr

Czech Republic. Government to debate proposed pension reform next week

The government is set to discuss proposed changes to the pension system on Tuesday. The proposal envisages a gradual increase in the retirement age linked to a higher life expectancy, a different basis for calculating old-age pensions, a lower indexation of pensions and a minimum pension amounting to 20 percent of the average wage. Most of the changes would affect people born after 1966. The present retirement age is 65 for both men and women. According to Labour Minister Marian...

April 29, 2024
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26Apr

Mexican lawmakers approve new pension fund backed by president

Mexico's Senate approved the creation of a new pension fund on Thursday aimed at boosting payouts to the lowest-earning recipients. The creation of the fund, which is part of a pension reform proposed by outgoing President Andres Manuel Lopez Obrador, won the support of 70 senators, with 43 against and two abstentions, after a heated debate that went into the evening. The reform aims to ensure that pensioners receive 100% of their last monthly salary up to about 16,777 Mexican pesos...

April 26, 2024
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26Apr

Senado de México aprueba reforma al sistema de pensiones

El Senado de México aprobó la noche del jueves (25.04.2024) una polémica reforma al sistema de pensiones que impulsa el gobierno, a poco más de un mes de las elecciones presidenciales. Con mayoría del oficialismo y sus aliados, la Cámara Alta aprobó la creación de un fondo público por 40.000 millones de pesos (unos 2.300 millones de dólares) con el que el gobierno promete mejorar las jubilaciones de millas de trabajadores. Los senadores aún discuten distintos puntos particulares de la reforma, aunque se...

April 26, 2024
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26Apr

Chile. Séptimo retiro de AFP: proponen un 15% de libre disponibilidad y 50% para la primera vivienda

El diputado por la región de Arica y Parinacota, Enrique Lee confirmó la presentación del proyecto de ley para un séptimo retiro de Aseguradoras de Fondos Previsionales, AFP en la Cámara de Diputadas y Diputados. Esta iniciativa, que fue ingresada este miércoles, consiste en una moción que autoriza a los trabajadores a retirar un 15% de los fondos acumulados en sus cuentas de capitalización individual para uso libre. Además, se introdujo un proyecto complementario que permite el retiro de hasta un 50%...

April 26, 2024
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26Apr

Nearly Half of the Largest US Pension Funds are More Than 100% Funded, Milliman Reports

Milliman, which tracks the status of the largest 100 corporate defined benefit plans in the U.S., reported that corporate pension funding is near its all-time highs in the recent results of its 2024 corporate pension funding study. Among Milliman’s findings, the funded status of these plans declined slightly from 99.4% to 98.5%, due to a slight decline in plan discount rates. The funded deficit of these plans increased from $8.5 billion to $19.9 billion in 2023. However, this is far from...

April 26, 2024
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26Apr

UK. Public trust in pensions rises, but reservations remain

Trafalgar House’s Trust and Confidence Index polled 2,000 people to assess how much they trust the pension industry and whether they believe it will meet their retirement needs. It asked participants to rate their trust in the pensions industry on a scale of 0 to 10, with 0 being “not at all” and 10 being “a lot”. The index found that trust in the pensions industry increased to 5.26 out of 10 in 2023, up from 4.95 in 2022. This...

April 26, 2024
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26Apr

Ghana. SSNIT reserves projected to hit zero in 12 years – ILO

This was revealed in an actuarial valuation study of the Social Security and National Insurance Trusts (SSNIT) viability. According to ILO, total income including contributions, investment income and other income, will no longer be sufficient to pay for annual expenditures including benefit payments to pensioners by 2029. “Starting in 2029, total income (contributions, investment income and other income) is no longer sufficient to pay for annual expenditures. "The reserve starts to decrease. During the year 2036, the reserve drops to zero” the...

April 26, 2024
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26Apr

Canada. 73% of OPB plan members want ESG considerations included in investment decisions: survey

Roughly seven in 10 (73 per cent) Ontario Pension Board plan members believe environmental, social and governance factors should play a critical role in the plan’s investment considerations, according to a new survey included in the investment organization’s inaugural ESG report. The survey, which polled roughly 10,000 plan members, found nearly two-fifths (39 per cent) of respondents said environmental protection is one of their top investment considerations, as well as climate change (38 per cent), human rights (34 per cent) and...

April 26, 2024
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25Apr

México. Aprobaron Fondo de Pensiones del Bienestar en comisiones del Senado

Las comisiones de Seguridad Social y Estudios Legislativos del Senado aprobaron el dictamen para que se cree el Fondo de Pensiones del Bienestar, dicha decisión fue vía fast track. La mayoría de los 19 votos positivos fueron de Movimiento Regeneración Nacional (Morena), hubo 10 en contra y 5 abstenciones de legisladores del Partido Acción Nacional (PAN), Partido de la Revolución Democrática (PRD), Partido Revolucionario Institucional (PRI) y Anteriormente, la Cámara de Diputados había aprobado con 251 votos a favor el dictamen...

April 25, 2024
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