editor, Author at Pension Policy International

02AugAugust 2, 2023

Retirement savers are anxious about inflation and stock-market volatility: survey

More than a third of Americans say they intend to delay their retirement Inflation and stock-market volatility have some retirement savers less confident about reaching their goals, a new survey found. More than six in 10 workers say inflation is an "obstacle to saving for a comfortable retirement," according to a Charles Schwab survey of 401(k) plan participants -- up from 45% who said the same last year. Another four in 10 people say the stock market is an obstacle to...

August 2, 2023

NewsUS

02AugAugust 2, 2023

German experts endorse equity-geared public fund for third-pillar reform

The German Council of Economic Experts, a body advising on economy policy, has initiated discussions about a public fund investing mainly in equities with an ‘opt out’ option to replace the Riester-Rente in the third-pillar pension system. Martin Werding, member of the Council of Economic Experts, told IPE that its proposal was for a “publicly managed, heavily equity-based fund as a standard/default product in the third-pillar [pension system]”. Savers are automatically assigned to the public fund if they don’t make use...

August 2, 2023

NewsGermany

02AugAugust 2, 2023

Ghana Buys Time as Pension Funds to Swap $2.7 Billion of Debt

Ghana is inviting local pension funds to a debt restructuring deal that gives the state fiscal space in the medium-term at no loss to the retirement funds. Pension funds have been offered to exchange about 31 billion cedis ($2.7 billion) of existing investments that carry an average coupon of 18.5% for two new bonds maturing in 2027 and 2028 with an average interest rate of 8.4%, the Ministry of Finance said in an exchange memorandum late Monday. The government will also...

August 2, 2023

NewsGhana

02AugAugust 2, 2023

Bill extending retirement age of DPP, AuG now in effect – Jamaica Observer

The Bill extending the tenure of the director of public prosecutions (DPP) and the auditor general (AuG) came into effect on Monday, July 31 after it was signed by Governor General Sir Patrick Allen. Despite objections from Opposition Members of Parliament last week, the constitution was amended by legislators to increase the retirement age of the DPP and the AuG. The current DPP, Paula Llewellyn, will be 63 this September. Both she and the AuG were appointed in the same year,...

August 2, 2023

NewsJamaica

01AugAugust 1, 2023

AFP podrán plantear medidas para mayor competencia en procesos de licitación de seguros

Este lunes se publicó en el boletín de normas legales, la resolución de la Superintendencia de Banca, Seguros y AFP (SBS) que incorpora la Quincuagésima Segunda Disposición Final y Transitoria al Título VII del Compendio de Normas de Superintendencia Reglamentarias del Sistema Privado de Administración de Fondos de Pensiones (SPP) referido a prestaciones. Así, se establecen medidas para fomentar condiciones competitivas para el proceso de licitación del seguro de invalidez, sobrevivencia y gastos de sepelio (SISCO). Asimismo, se precisa que...

August 1, 2023

NoticiasAFP

01AugAugust 1, 2023

IESS limita los aportes de los afiliados voluntarios

A partir de la segunda semana de agosto de 2023, los aportes que realicen los afiliados voluntarios que estén por jubilarse en el Instituto Ecuatoriano de Seguridad Social (IESS) tendrán límites. De esta manera, el IESS busca evitar aumentos atípicos de los aportes en los últimos años de aportación de un afiliado voluntario, que pudieran elevar el monto de pensión que recibiría, explica David Narváez, subdirector (subrogante) Nacional de Afiliación del IESS. Hay 217.126 afiliados voluntarios en el IESS a junio...

August 1, 2023

NoticiasIESS

01AugAugust 1, 2023

En agosto se espera que PCM discuta propuesta de reforma de pensiones

El titular del MEF recordó que ya se dio a conocer el informe para dicha reforma elaborado por la Comisión Multisectorial, integrada por su sector, la Presidencia del Consejo de Ministros (PCM), el Ministerio de Trabajo y Promoción del Empleo (MTPE), además de la Superintendencia de Banca, Seguros y AFP (SBS), y el Banco Central de Reserva del Perú (BCR). En este escenario, refirió que esperan que en agosto se envíe la citada propuesta de reforma pensionaria al Consejo de...

August 1, 2023

NoticiasPerú

01AugAugust 1, 2023

IBD: Pensiones acaparan recursos en presupuesto federal

En el periodo 2012 a 2023 se observa una concentración del presupuesto aprobado para Protección Social en el rubro de Pensiones y Jubilaciones, pasando de una participación del 73.2% en 2012 al 76.0% en 2023, de acuerdo con una investigación de la Dirección General de Finanzas del Instituto Belisario Domínguez. El estudio titulado “Evolución de los recursos federales destinados al Sector Protección Social 2012-2023”, elaborado por la investigadora Gabriela Morales Cisneros, revela que, durante este periodo, los recursos federales aprobados...

August 1, 2023

NoticiasMexico

01AugAugust 1, 2023

Can Gen X retire? With traditional sources of income in doubt, this group can redefine the future of retirement.

For decades, many American workers could plan on roughly 40% of their retirement needs being covered by Social Security with another 60% covered by traditional pensions and savings. But people approaching retirement today face a different reality. Traditional pensions have declined significantly since 1985, and Social Security trust fund reserves could be depleted by 2033, making the idea of benefit increases, even for middle class folks who have worked hard all their lives, highly unlikely. This means that Generation X...

August 1, 2023

NewsUS

01AugAugust 1, 2023

BBC cannot cut future pension accruals, U.K. High Court rules

The BBC cannot modify its defined benefit fund to cut future benefits for participants, the U.K.'s High Court ruled July 28. The BBC Pension Scheme, London, sponsored by the British Broadcasting Corp., had £19.8 billion ($25.4 billion) in assets as of March 31, 2022, the latest available figure. It has four levels of benefit structures. In December 2020, the pension fund completed a £3 billion longevity swap with Zurich and Canada Life Reinsurance to provide more certainty over future funding costs....

August 1, 2023

NewsUK

August 2023