October 2023
02Oct

UK. DWP urged to assess case for formal regulation of pension scheme administrators

The Department for Work and Pensions (DWP) should assess the case for bringing administrators into formal regulation, an independent review of The Pensions Regulator (TPR) says The review, published last month, was led by Mary Starks - a former director of competition and chief economist at the Financial Conduct Authority - who was appointed to lead the review into TPR at the beginning of this year. Starks found TPR's supervision team currently engages with three pension scheme administrators on a voluntary basis but said...

October 2, 2023
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02Oct

Japan government pension acts on population strain

Japan’s Government Pension Investment Fund — one of the world’s most powerful investors — is overhauling the way it chooses active managers, in a bid to secure the higher returns needed to support a rapidly ageing population. As its sheer size makes it harder to achieve above average performance, the world’s largest pension fund is leaning increasingly on data science to find those managers who can beat the market. “If asset owners can develop a scientific method for selecting active...

October 2, 2023
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02Oct

Iran’s Health Ministry Warns of Ageing Population

Iran's Deputy Health Minister Hossein Farshidi issued a warning about the country's ageing population, claiming it will double within the next 20 years. Speaking on World Elderly Day Farshidi said the demographic change is happening much faster than in many developed countries, where it took over a century to see such a rise in the elderly population. He attributed the trend to global increases in life expectancy and significant reductions in fertility rates during the 20th century. He stressed that Iran has experienced similar...

October 2, 2023
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September 2023
29Sep

México. Afores administrarían 35% del PIB en el 2030: SHCP

Los recursos manejados por las administradoras de fondos para el retiro (afores) representarían entre 35 y 40% del Producto Interno Bruto (PIB) en el 2030, según la Secretaría de Hacienda y Crédito Público (SHCP), esto significaría un incremento de 16 puntos porcentuales, como mínimo, en lo que resta de la década. Al cierre del primer semestre del año las afores administraban 5 billones 550,945 millones de pesos, esto es 19% del PIB, de acuerdo con información de la Comisión Nacional...

September 29, 2023
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29Sep

Chile. Reforma previsional y pacto fiscal viven jornadas claves para sus avances

El término de septiembre marca días claves en dos importantes propuestas del Gobierno: reforma previsional, que tiene comprometido el ingreso de indicaciones; y pacto fiscal, en el que se espera un cambio de etapa. Respecto a la reforma previsional, se espera que a comienzo de la próxima semana el Ejecutivo ingrese indicaciones para su discusión en particular en la Comisión de Trabajo de la Cámara de Diputadas y Diputados. Esto se dará con un un cambio que ha sido punto de...

September 29, 2023
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29Sep

US. More Evidence Suggests State-Sponsored Retirement Plans Close the Coverage Gap

Analysis of the first state-sponsored retirement plan for uncovered workers—OregonSaves—supports earlier findings that auto-IRAs do, in fact, close the coverage gap. More specifically, a new paper examined Oregon’s program, started in 2017, which requires employers who did not offer any workplace retirement savings plans to automatically enroll employees into a Roth IRA through payroll deduction. The study assessed the impact of mandated automatic enrollment rather than voluntary automatic enrollment, enabling the examination of changes in employer behaviors for those obliged to...

September 29, 2023
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29Sep

TPR issues first climate-related reporting penalty to ExxonMobil’s U.K. plan

The U.K.'s Pensions Regulator issued its first fine against a pension fund for failing to publish a report on how its trustees manage and govern climate-related risks and opportunities, delivering a £5,000 ($6,118) penalty to the ExxonMobil Pension Plan, Leatherhead, England. U.K. pension funds with more than £5 billion in assets have been required to publish a climate change report by a set deadline since October 2021. The report must be made publicly available on a website so participants can...

September 29, 2023
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29Sep

Lessons From Japan And Italy On Managing The Aging Population

Japan and Italy are geographically distant and have evolved separately over the centuries, but they share several similar traits, including a rich culinary tradition, strong cultural values, breathtaking historical sites — and, more recently, an ageing population. More than one in 10 people in Japan are aged 80 or older. Beyond that, about 29 per cent of its 125 million people are 65 or older, the highest in the world ahead of Italy (24.5 per cent) and Finland (23.6 per...

September 29, 2023
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29Sep

US. Workers’ expectations about choosing when to retire unrealistic – study

Pre-retirees may have unrealistic expectations about how long they will stay in the workforce, according to a new research report released Sept. 28 by nonprofit Transamerica Center for Retirement Research in collaboration with Transamerica Institute. Two-thirds of workers age 50 or older (66%) expect to retire after age 65 or do not plan to retire at all, an expectation inconsistent with reality as the majority of retirees (58%) retired before 65, the study found. More than half of retirees, 56%, retired...

September 29, 2023
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28Sep

México. IMSS, con soporte financiero para pago de pensiones a 15 años: Robledo

Ciudad de México. Zoé Robledo, titular del IMSS, señaló que hay soporte financiero para el pago de pensiones durante 15 años y confió que al terminar el sexenio del presidente Andrés Manuel López Obrador, haya para más. Tras una reunión con diputados de la Cuarta Transformación, sostuvo que en este gobierno han duplicado el presupuesto para cubrir los pagos, porque las reservas del IMSS “se han incrementado de manera muy importante”. -¿Hay soporte financiero para las pensiones? -Sí, por cerca de 15...

September 28, 2023
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