April 2024

Rwanda. Retirees’ body appeals for matching pension with cost of living

Pension should be matched with the cost of living to address situations such as when retirees’ welfare deteriorates due to increases in prices at the market, and franc depreciation, the president of Rwanda Pensioners’ Association, Dorothée Uwimana, told The New Times on April 1. She was referring to the fact that some retirees get as low as Rwf20,000 in pension benefits – with Rwf13,000 as the smallest pension – per month, which she said was too little to help...

Amex freezes pension payouts for thousands of Brits for tenth year

American Express has sparked criticism for freezing pension payments for thousands of former British employees for the tenth year in a row. The US payment cards giant said in a letter to UK pension fund members on 22 March that it had considered the case for a discretionary increase in payouts and decided against it. Campaigners have said they have suffered a 30 per cent drop in the value of their pensions over the past decade when adjusted for inflation. During this period Amex has...

México. Hace falta flexibilizar restricciones de inversión para las Afores: expertos

El mercado de las Administradoras de Fondos para el Retiro (Afores) deben de ser menos cauteloso y se les deben de quitar o flexibilizar los límites de inversión para obtener mayores rendimientos, opinó Leonardo Castillo, director de productos de ahorro para el retiro en Fintual, una gestora de activos latinoamericana que opera en México. “Yo creo que la parte más importante es justo quitar las restricciones o flexibilizarlas, no poner una restricción de 20% a los valores extranjeros, sino que...

Retoma Senado de Colombia discusión de reforma sobre pensiones

Pese a las seis sesiones que ese órgano legislativo dedicó ya al mentado proyecto, el debate en plenaria permanecía estancado debido, en parte, al boicot de partidos de derecha que solían ausentarse de la sala para impedir la obtención del cuórum necesario para tomar decisiones. Durante la última de las jornadas dedicada al tema, el pasado 26 de marzo, se escucharon los planteamientos de diferentes expertos y gremios convocados en relación a la reforma. Esa sesión, acontecida de manera extraordinaria durante...

Chile. Foco en informalidad laboral, alta presencia en RRSS y perfil técnico: el primer año de Paulina Yazigi al mando de las AFP

La última vez que las AFP se aventuraron en la búsqueda para levantar candidatos (as) al cargo de presidente de la Asociación de AFP -gremio que reúne a seis de las siete administradoras en Chiletenían varias definiciones. Se inclinaban idealmente por una mujer para reemplazar a la entonces timonel del gremio que cumpliría su período, Alejandra Cox. Y si bien sondearon distintos perfiles, donde también estuvo por ejemplo la exsubsecretaria de Telecomunicaciones (Piñera II), Pamela Gidi, entre otras opciones, finalmente las...

UK. DWP State Pension update for women in their 60s and 70s due around £5,000

The Treasury recently confirmed that HM Revenue and Customs (HMRC) started writing to older people whose National Insurance (NI) records may be affected by missing periods of Home Responsibilities Protection (HRP) in September 2023, inviting them to apply to fill potential gaps to ensure they receive the correct amount of State Pension. Financial Secretary to the Treasury, Nigel Huddleston MP also told the Commons that HMRC is working with the Department for Work and Pensions (DWP) to find people affected...

Portugal. Automatic Pension Scheme to be Approved

Heather Humphreys, the minister for social protection, has outlined her plan to implement the much-anticipated pension auto-enrolment programme for workers. Under the plan, businesses would match employee contributions with an additional €3, meaning that the State will contribute €1 for every €3 an employee contributes to their pension account. Workers between the ages of 23 and 60 who are not currently registered in a pension plan will be enrolled automatically. There will be a clause in the law allowing employees...

Luxembourg: EU Blue Card: New Increased Thresholds For Minimum Salary

A recent regulatory update may impact your strategy for recruiting international talent. On 20 March 2024, the regulation of 15 March 2024 setting the gross average annual salary needed to calculate the minimum salary level for a highly qualified worker 1 was published in mémorial A123 (the "Regulation"). It adjusts the annual threshold for the minimum salary required for highly qualified third-country workers who want to work in Luxembourg with an EU Blue Card. Key points From an immigration perspective, third-country...

Kenya. Treasury to spend Sh255 million on increasing pension coverage

The Treasury has lined up a series of reforms to the country’s retirement benefits policy to boost access for informal, diaspora, and short-term workers, which are set to cost up to Sh255 million by December next year. In Kenya, an estimated 3.5 million people, or 25 percent of the workforce, are covered by retirement benefit schemes, according to the Retirement Benefits Authority (RBA), meaning the majority of Kenyans will retire poor. The new measures outlined in the newly published National...

March 2024

Perú. Retiro AFP: Comisión de Economía aprueba liberar ahorros de hasta 4 UIT sin restricciones y se buscará priorizar en el Pleno

Con 17 votos a favor, 3 en contra y 0 abstenciones, la Comisión de Economía del Congreso de la República aprobó este lunes 25 de marzo el dictamen de un séptimo retiro de los fondos de AFP. Según el texto consensuado, la liberación de los ahorros es de hasta 4 Unidades Impositivas Tributarias (UIT), equivalentes a S/20.600 y la novedad es que es sin excepción ni restricción alguna. Al término de la sesión, el congresista José Luna (Podemos) manifestó que priorizarán llevar el dictamen...