June 2019

05Jun

UK. FTSE 350 defined benefit pension deficit rises to £57 billion in May 2019

The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 organisations increased by £5 billion between April 2019 and May 2019, rising from £52 billion to £57 billion, according to research by Mercer. The Pension risk survey, which analyses the pension deficit calculated using the approach FTSE 350 organisations have to adopt for their corporate accounts, also found that liability values increased by £11 billion in May 2019, totaling £856 billion; the report attributes this...

June 5, 2019
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05Jun

EU. Union Investment unveils sustainable equity fund for Riester pension

Union Investment will be offering the sustainable equity fund UniSustainable Equity Global as a component of the Riester pension, effective 1 July 2019. The fund can be used as a substitute for UniGlobal Vorsorge or UniGlobal II. A change between the funds is possible at any time free of charge. UniSustainable Equities Global fund will take into account ethical, social and environmental criteria when selecting issuers. In addition, the focus will be on companies with sustainable core business and...

June 5, 2019
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05Jun

UK. Philip Green wins key vote for rescue plan ahead of meeting

The owner of Topshop has struck a £385m deal to secure its pension schemes, including a £100m contribution from Lady Cristina Green, Sir Philip's wife and Arcadia's largest shareholder. The PPF said it would now "vote in support" of Arcadia's restructure. But the plan, which includes closing 50 stores, needs the backing of landlords. They would have to agree to a rent cut on Arcadia's stores, which also include Burton, Miss Selfridge, Dorothy Perkins and Wallis. Read more @BBC

June 5, 2019
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04Jun

México. Bitcoins, lejos de ser opción para las Afores: autoridades

Aunque el bitcoin ya participa en el negocio de las remesas, acumula un rendimiento de tres dígitos en lo que va del año, financia proyectos productivos, y cada vez más brokers ofrecen entre sus servicios la posibilidad de hacer trading con este tipo de criptomonedas, las Administradoras de Fondos para el Retiro (Afores) no pueden tener la apertura de invertir en este tipo de activos, aseguraron autoridades. Octavio Ballinas, vicepresidente Financiero de la Comisión Nacional del Sistema de Ahorro...

June 4, 2019
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04Jun

Perú. Desde hoy a nuevos afiliados de AFP no se les descontará comisión de su sueldo

Desde hoy, a un grupo de afiliados al Sistema Privado de Pensiones ( SPP) ya no se les descontará un porcentaje de su remuneración para el pago de la comisión a su AFP. Y es que a partir de este mes, la ganadora de la última licitación, AFP Integra, aplicará la comisión mixta propuesta en la cuarta subasta de afiliados realizada en diciembre del 2018. Así, a los nuevos afiliados que ingresen al Sistema Privado de Pensiones ya no...

June 4, 2019
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04Jun

España. “Los planes de pensiones deberían invertir más en activos alternativos”

La aseguradora Zurich y Deutsche Bank crearon en 2002 una joint venture para competir en el segmento de los planes de pensiones. Ahora gestionan 1.200 millones de euros en planes de pensiones individuales (distribuidos en las sucursales de Deutsche Bank y de Zurich) y planes de pensiones de empresas. Se trata de una de las pocas gestoras de fondos de pensiones españolas controladas por capital extranjero. ¿Por qué hay tan pocas gestoras extranjeras en planes de pensiones? El plan...

June 4, 2019
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04Jun

Japan’s pensions inadequate for aging society: gov’t council report

Japan's current public pension system is not adequate to support people's livelihoods anymore facing the rapid aging problem, a Japanese government report revealed Monday. According to the estimation by a council at Japan's Financial Services Agency, a couple who will live until 95 years old will need at least 20 million yen (184,700 U.S. dollars) after retirement, which exceeds the amount their pension benefits can cover. The report also said that in an example of a couple with the...

June 4, 2019
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04Jun

UK. Pensions must do right thing on climate crisis, says minister

Pension schemes should be supported for moving people’s money out of fossil fuels and into renewables because the financial risks from the climate crisis are “too important to ignore”, a government minister will say on Monday. The pensions minister, Guy Opperman, is due to tell a conference that pension and investment managers must “do the right thing” and take their environmental and social responsibilities seriously to help combat the climate emergency. During the last few years a number of...

June 4, 2019
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04Jun

Kenya. Devolved pensions owed Sh24bn dues on key date

The pension industry Monday kicked off the 90th anniversary celebrations for the local authorities’ schemes (LapTrust) reeling from Sh24 billion dues unremitted by the counties. County Pension Fund chief executive Hosea Kili said if paid, pension schemes will partner with the government under a private-public arrangement for implementation of the low-cost housing schemes in major urban centres. “This is an opportunity for Kenyan workers to contribute towards development of their country by using pension funds to build low-cost houses...

June 4, 2019
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04Jun

How Much Does It Cost To Update Pensions In Spain In Line With Inflation?

One of the most controversial aspects of the 2013 reform of the Spanish system of public pensions has been the introduction of a revaluation index (the so-called IRP) which linked the updating of pensions, once triggered, to the financial situation of Social Security, thus abandoning the traditional reference to inflation measured by the consumer price index (CPI). Given the measure´s unpopularity, once inflation recovered after the crisis, it did not take long for it to be provisionally suspended. Currently,...

June 4, 2019
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