editor, Author at Pension Policy International

19JulJuly 19, 2023

U.S. public pension funds unlikely to hit investment targets this year – report

State and municipal pension funds will likely miss their investment targets this year and will probably not see meaningful improvements in their unfunded liabilities or funding ratios, according to Equable Institute's "State of Pensions 2023" report released on Tuesday. Unfunded liabilities climbed to $1.57 trillion in 2022, bringing the national aggregate funding ratio to 75.4% due to negative investment returns, Equable said in a release issued in conjunction with the report. Equable now projects that the aggregate funding ratio for U.S....

July 19, 2023

News, UncategorizedInvestment, Public Pensions, US

19JulJuly 19, 2023

Hungary wants to curb pension rights of transgender women

From a hefty fine on a bookshop for selling a novel on which a hit Netflix series is based, to curbing the pension rights of transgender women, Hungary is toughening measures against the LGBTQ community, long a target of Prime Minister Viktor Orban. Meanwhile, a new government amendment is seeking to exclude transgender women from pension rules that allow women to retire earlier than men. "It is inconceivable that those who suddenly identify as women after 39 years of working as...

July 19, 2023

NewsEquality, Public Policy, Regulation

19JulJuly 19, 2023

Pensions, 54% of Italians fear that they are insufficient to live on. Private savings are essential

«I can’t wait to retire!..» How many times, and how many people, have they thought about saying “goodbye” to work, daily routine, stress and fatigue? If the moment of leaving the labor market is seen as a real liberation, in Italy there are those who think that it could become a far worse condemnation than meetings, phone calls, computers and shifts. Because on closer inspection the majority of men and women “in career” believe that they do not have,...

July 19, 2023

NewsAdequacy, Italy, Voluntary pensions

19JulJuly 19, 2023

US. ERISA Advisory Council Highlights Trends in Pension Risk Transfers

Shaun O’Brien, the chair of the ERISA Advisory Council, summarized many of the trends in the pension risk transfer market and commonly expressed concerns from pension fiduciaries and stakeholders at a hearing the council hosted Tuesday at the Department of Labor. The hearing was held to discuss possible changes to Interpretative Bulletin 95-1, which requires that pension fiduciaries select the safest annuity providers when executing pension risk transfers. Considering modifications to IB 95-1 was required by Section 321 of the...

July 19, 2023

NewsRegulation, Risk, savings, US

18JulJuly 18, 2023

México. Ganancias de las afores repuntan 254.9% en el primer semestre tras asimilar la reducción de comisiones

Al cierre del primer semestre de 2023, las utilidades de las Administradoras de Fondos para el Retiro (Afores) repuntaron 254.9% respecto al año pasado, cuando la reducción en las comisiones impactó sus resultados. Las cifras de la Comisión Nacional del Ahorro para el Retiro (Consar) muestran que las ganancias de las 10 afores existentes ascendieron a 5,005.6 millones de pesos. Si se compara con el mismo lapso de 2021, antes de que entrara en efecto el tope de comisiones fijado por...

July 18, 2023

NoticiasAdministración de Pensiones, Mexico

18JulJuly 18, 2023

Chile. AFP han retenido $ 175 millones para pagar deudas de pensión de alimentos por nueva ley

Como una solución a la situación que enfrentan miles de madres que no reciben el pago de la pensión de alimentos de sus hijos por parte de sus exparejas, nació la Ley de Responsabilidad Parental y Pago Efectivo de Pensiones de Alimentos, que entró en vigencia el 20 de mayo. La normativa establece un mecanismo de pago, facultando a los Tribunales de Familia para que investiguen, bajo reserva, el patrimonio de los deudores de pensión de alimentos. Dentro de ese procedimiento,...

July 18, 2023

NoticiasAdministración de Pensiones, Chile

18JulJuly 18, 2023

México. Hasta 94 mil niños tienen una cuenta de Afore para el retiro

Al cierre de abril, 94 mil niños en México tenían una cuenta de Afore, lo que representa que alrededor de 0.2 por ciento de la población menor de edad en el país, de acuerdo con datos de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). El Sistema de Ahorro para el Retiro (SAR) tenía registradas hasta mayo 73 millones de cuentas de trabajadores, con 5.4 billones de pesos acumulados. Los activos administrados por las Afores se ubicaron en...

July 18, 2023

NoticiasAdministración de Pensiones, Mexico

18JulJuly 18, 2023

US. New York City pension chief urges pay clawbacks at Bank of America

New York City's top pension official has urged Bank of America's (BAC.N) board to claw back pay from executives after the bank agreed to pay $250 million to settle regulatory claims that it double-charged customers and took other steps without authorization. Since the financial crisis of 2008, provisions to recover pay have been strengthened at top U.S. banks to limit risk-taking. Bank of America did not admit wrongdoing in its July 11 agreements with the Consumer Financial Protection Bureau (CFPB)...

July 18, 2023

NewsRegulation, US

18JulJuly 18, 2023

More to be done on sustainable investments despite ‘significant improvements’

The proportion of pension schemes seeking greater alignment or integration of sustainable investment beyond employer policies doubled from 20 per cent in 2021 to 40 per cent in 2022, analysis from Mercer has revealed. The group’s latest Responsible Investment Total Evaluation (Rite) report, which benchmarks around 1,000 schemes from across the defined benefit (DB) and defined contribution (DC) space, showed that schemes have made “significant improvements” in their sustainable investment credentials. In particular, the research found that 50 per cent of...

July 18, 2023

NewsESG, Investment, Sustaniability

18JulJuly 18, 2023

Fidelity Investments forms retail annuities and pension risk transfer focused reinsurer

US investment giant Fidelity Investments has formed Soteria Reinsurance Ltd., a newly incorporated Class C insurer registered in Bermuda that will focus on the US retail fixed annuities and pension risk transfer space. On June 20th, 2023, Soteria Re, which is owned directly by Soteria Reinsurance Holdings, LLC, a wholly owned subsidiary of Fidelity Management & Research Company LLC, was registered with the Bermuda Monetary Authority as a Class C insurer. In a brochure dated March 28th, 2023, Fidelity explained that...

July 18, 2023

NewsPension design

July 2023