January 2024

Kenya. State lost Sh67bn in irregular pension payments, audit shows

What you need to know: Sh21 billion was paid to 29,387 claimants with shared bank accounts. Sh44.07 billion was irregularly paid to 221,590 claimants with irregular and no tax PIN. Sh1.62 billion paid in lump sum to 962 claimants before their exit dates from public service. The government lost at least Sh67 billion in irregular payments made by the National Treasury’s pensions department, a recent audit by the Auditor-General revealed. The amount paid to undeserving cases is sufficient to construct enough...

China too big to ignore, but policy will dictate growth, investors say

China's growth outlook remains murky but global investors can't afford to ignore the world's second-largest economy, although factors such as domestic policies, geopolitical developments and consumer sentiment will decide its growth trajectory, investment managers said. They also argue that upcoming restrictions by the U.S. and its partners on the flow of certain technologies to China has bifurcated the world scientific community and will hurt the global economy, even as some investors outside of the West, such as the Middle East,...

México. Retiro de las Afores por desempleo: el silencioso daño a la jubilación que se comete por necesidad

Tiene casi una década que Carlos Alcaraz tuvo que recurrir a su Administradora de Fondos para el Retiro (Afore) para poder hacer frente a la urgente situación económica que atravesaba por desempleo. “No tenía dinero para comer, no encontraba trabajo y me hallaba profundamente deprimido”, recuerda. Después de hacer el trámite, reconoce que fue un movimiento desesperado, pero necesario. A sus 43 años, este trabajador es parte de los miles de mexicanos que echan mano de su fondo de jubilación para poder...

Chile. Sin la derecha, comisión de la Cámara aprobó el fin de las AFP

Sin la derecha, cuyos representantes se retiraron de la sesión, la Comisión de Trabajo de la Cámara de Diputadas y Diputados votó este miércoles el primer capítulo de la reforma previsonal y aprobó la separación de la industria y, con ello, el fin de las Administradoras de Fondos de Pensiones (AFP). Precedida del anuncio de la "suma urgencia" que le ingresó el Gobierno, la instancia sesionó dos veces esta jornada, primero al mediodía y luego durante la tarde. Esta última estuvo...

PLSA reveals ‘pensions’ role in UK growth’ as top strategic priority for 2024

The Pensions and Lifetime Savings Association (PLSA) has announced that its top strategic priority for 2024 will be the role that pension schemes can play in supporting the UK economy. Outlining its strategic objectives for the year, the PLSA revealed that it would further develop its recommendations aimed at promoting investment by ‘suitable’ pension schemes in assets that can help drive UK growth, which were published last year. The updated recommendations will aim to ensure the government is equipped to make...

Japan retirement trends: job-seeking seniors double in 10 years

The number of people 65 and older looking for work in Japan has more than doubled over the past decade, government employment center data shows, creating the challenge of matching them with the right jobs in a shrinking labor pool. A Hello Work employment center in Tokyo's Ikebukuro district has a counter just for senior citizens. Some need work to supplement their income, but others just want to stay active. "I want to work until I'm 70," said a 66-year-old man who was there to fill out paperwork...

Millennials vs. Boomers: Which Generation Is Better Prepared for Retirement?

Many boomers are currently retired or on the cusp of retirement, so it wouldn’t be a far-off guess to assume that boomers are better prepared financially for this phase of life. However, a recent Vanguard study found that millennials are actually better prepared for retirement than baby boomers. The study found that millennials who are median-income earners will be able to generate sustainable retirement income equal to 58% of their pre-retirement earnings, while median-income boomers will be able to generate sustainable retirement income...

Female-Specific Aging Trajectories Remain Understudied

Most model organisms don’t match human sex specificity The use of model organisms, such as worms, fruit flies, and mice, has helped researchers to understand many aging processes. However, it is also partly to blame for the lack of data on how pregnancy, breastfeeding, and menopause impact aging-related diseases. Animal research is based on the premise that those organisms and humans share essential physiological characteristics. While true in many cases, there are tremendous differences between the physiology of model organisms and...

China’s population: Beijing urged to build digitally inclusive society, as it seeks insights into technical skills of its elderly

China is seeking to gain more insights into the digital literacy of its elderly population as it attempts to find ways to better accommodate its rapidly ageing demographic in an increasingly intelligent society. New questions on smartphone usage for people aged 60 and above were added to a survey on population changes and the labour force conducted at the end of 2022, and published recently by the National Bureau of Statistics in the 2023 China Population and Employment Statistical Yearbook. They...

Sistema Nacional de Pensiones, por una vejez sin pobreza

Por Verónica González Vázquez Durante los últimos 28 años se han realizado múltiples análisis, valuaciones y diagnósticos de las características de pensión por vejez en México en los que han participado especialistas, investigadores y responsables de varias disciplinas con la intención de encontrar lo que podría ser un área de oportunidad. En algunas ocasiones se ha abarcado a la totalidad de la población mexicana, en otras, la mayoría, se ha analizado por sector económico o por pensiones contributivas o no contributivas;...