February 2024

Malaysia. Proposed abolishment of politician’s pension to be discussed in Cabinet, then Parliament, says PM

REMBAU: The proposal to abolish pensions for politicians will first be discussed at the Cabinet level and then brought to Parliament before any decision is implemented, says the Prime Minister. Datuk Seri Anwar Ibrahim said as a moral responsibility, the matter needs to be tabled and thoroughly explained as it was difficult to rationalise if the abolition of the pension was excluded for politicians. "Some people have asked what about politicians; the system is different, but I think it's reasonable if...

Will AI revolutionize the retirement industry?

A recent survey from Professional Pensions showed 17% of pension experts think Artificial Intelligence (AI) will revolutionize the industry a great deal, while 60% agreed it will to some extent. Only 7% argued AI will not change the way things in the industry are done. With that backdrop, the EBRI-Milken Institute 2024 Retirement Symposium’s panel, Innovations and FinTech: Developments that Can Enhance Financial Security, Retirement Planning and Spending Down Assets, discussed the nature of AI within the retirement planning process. Yon...

México. Xóchitl Gálvez se ‘une’ a AMLO y su reforma a pensiones: ‘La comparto y la vamos apoyar’

¿Qué dirá el presidente Andrés Manuel López Obrador en su ‘mañanera’ del jueves? Xóchitl Gálvez, precandidata presidencial de Va por México, dijo este 31 de enero que apoya la iniciativa del presidente sobre las pensiones. “Por supuesto que estamos de acuerdo con que los mexicanos tengan una pensión digna. Lo comparto y lo vamos a apoyar”, dijo en su ‘Conferencia de la Verdad’ de este miércoles. Gálvez dijo que analizó con Marko Cortés, Alejandro ‘Alito’ Moreno y Jesús Zambrano, dirigentes del PAN, PRI y PRD, si apoyar la iniciativa cuando el...

El fondo soberano de Noruega bate récords en 2023 y gana 196.000 millones de euros

El Fondo Global de Pensiones del Gobierno de Noruega ('Government Pension Fund Global') bate récords en 2023. Norges Bank Investment Management, gestor del fondo y parte del banco central del país nórdico, ha anunciado este martes que el fondo ha conseguido un beneficio histórico de 2,22 billones de coronas noruegas (196.500 millones de euros) en 2023 gracias al buen desempeño de los valores tecnológicos que forman parte de su cartera. Según ha detallado Norges Bank, el rendimiento de las inversiones ha ascendido al 16,1%....

¿Cuál es la Afore más grande de México? Esta es la empresa que lidera en el ahorro para el retiro

Elegir una Administradora de Fondos para el Retiro (Afore) es clave en la previsión de los trabajadores. Con el objetivo de ahorrar para el momento de una jubilación, es necesario tener claro qué empresas se dedican a esta tarea y cuál es la infraestructura con la que cuentan. Entre todas las Afores de México, hay algunas que destacan por un gran tamaño, el cual se puede medir en –al menos– dos dimensiones: la cantidad de cuentas administradas y los recursos registrados que operan. Cada Afore forma parte del Sistema de Ahorro para el Retiro (SAR) que...

España. Nueva edad para jubilarse en 2024: estos son todos los cambios

La llegada de 2024 ha venido con interesantes novedades en materia de jubilación que, en lo referente a la edad legal para que un trabajador se pueda retirar del mercado laboral, se materializan en una nueva subida de dos meses con respecto a 2023 para poder optar al cobro de una pensión. Estos incrementos en la edad del retiro se vienen implementando paulatinamente desde 2019 y responden a la decisión de que en 2027 la edad de jubilación ordinaria en España quede establecida en los 67 años. Así,...

Milliman analysis: Competitive pension risk transfer costs decrease from 101.8% to 100.5% in December

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. “Retiree buyout costs open 2024 at their lowest level in almost six months--despite another sizable drop in accounting discount rates” During December, the estimated cost to transfer...

Analysis: 2024 to be the biggest year for UK pension de-risking

UK pensions consultants expect 2024 to be another record-breaking year for the pensions risk transfer market with transactions surpassing 2023 levels. The final figures for 2023 are yet to be published. However, it is widely expected that there were circa £50bn in deals, which would brand 2023 as a record year for pension risk transfers, compared with the previous high of £43.8bn in 2019. UK pensions consultants expect this trend to continue. WTW expects pension risk transfer volumes to reach £80bn, with...

Kenya. Counties owe pension schemes Sh41.2bn – Government Workers Union

Kenya County Government Workers Union has decried continued non-remittance of pension funds by devolved units, stating that the debts currently stand at Sh41.2 billion. Secretary General Roba Duba regretted that counties have been opting to pay “urgent” debts over remitting pension dues. Addressing a press conference in Nairobi, Duba said the union is going to petition the National Treasury to look at ways of addressing the matter urgently. “The issue of pension scheme management has not been given the necessary attention it...

Canadian funds tapping into investment opportunities in Brazil

By PALASH GHOSH   Canadian pension funds have been investing in Brazil, a huge country that boasts a growing $2.1 trillion economy, the largest such economy in Latin America and an especially attractive target for infrastructure and energy investments, as evidenced by the recent agreement by Caisse de Depot et Placement du Québec to increase its stake in a natural gas transmission firm. Ironically, Brazil jumped two spots last year to surpass Canada itself as the globe's ninth biggest economy, the International Monetary...