May 2019

27May

Nigeria. PenCom Invests N8.744tn Pension Assets in 24 Asset Classes

The National Pension Commission (PenCom), said it invested the accumulated N8.744 trillion pension assets in 24 different asset classes with federal government securities taking the lion share of 72.91 per cent of the total funds. A breakdown of this showed that federal government bonds which got 51.29 per cent share and investment in treasury bills got 20.40 per cent. PenCom, in a recent publication on its website stated that as at January 31,2019, other asset classes in...

May 27, 2019
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24May

Fundamentals of Investment: A Practitioner’s Guide (English Edition)

By Brian O'Loughlin, Frank O'Brien Post the Financial Crash, the role of regulation and the impact of regulation on all aspects of the financial industry has broadened and intensified. This book offers a comprehensive review of the operations of the industry post-financial crisis from a variety of perspectives. This new edition builds upon the authors’ predecessor book, Fundamentals of Investment: An Irish Perspective. The core of the original text is retained particularly concerning fundamental concepts such as discounted...

May 24, 2019
Books, Investing, Management,
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24May

Will the Financial Fragility of Retirees Increase?

By Steven A. Sass Retirees have long been considered financially fragile. The notion that they are ill-equipped to absorb financial shocks is captured in the traditional trope that they live on fixed incomes. Going forward, retirees will get much less income from fixed Social Security and employer pensions, and much more from savings in 401(k) plans and individual retirement accounts (IRAs). These savings give retirees greater flexibility to respond to shocks. But tapping into their nest eggs comes at...

May 24, 2019
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24May

Retirement and Social Security

By Giam Cipriani, Tamara Fioroni In this paper, we analyse the effects of demographic change on a PAYG pension system, financed with a defined contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three-period overlapping generations model. We focus on both the case of mandatory retirement and the case where the retirement age is freely chosen. In the case of mandatory retirement, increasing longevity has an unambiguously negative impact on fertility and pension...

May 24, 2019
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24May

México. Chocan las Afore y Consar por comisiones

Nuevas reglas para calcular las comisiones que cobran las Afore a sus clientes en México han abierto un debate entre la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) y las administradoras del ahorro de los trabajadores. La Consar envió en días pasados a la Comisión Nacional de Mejora Regulatoria (Conamer) el anteproyecto sobre nuevas políticas y criterios en materia de comisiones con el que el organismo busca evitar cobros excesivos a los trabajadores con cuenta de...

May 24, 2019
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24May

México. Afores de los más jóvenes sufren caída en rendimiento

Durante el primer cuatrimestre del año, los rendimientos que dieron las administradoras de fondos para el retiro (afores) a los trabajadores más jóvenes sufrieron una reducción de más de 1 punto porcentual, mientras que los rendimientos de los trabajadores más grandes mostraron ligeros aumentos. De acuerdo con el Indicador de Rendimiento Neto (IRN), que realiza la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), el fondo que administra las cuentas de los trabajadores que tienen menos de...

May 24, 2019
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24May

España. El gasto en pensiones se eleva en mayo hasta otro récord de 9.611 millones

La Seguridad Social destinó en el presente mes de mayo la cifra récord de 9.610,9 millones de euros al pago de las pensiones contributivas, casi un 7% más que en el mismo mes de 2018, según datos publicados este viernes por el Ministerio de Trabajo, Migraciones y Seguridad Social. El crecimiento del gasto en mayo se sitúa en el 5% en términos homogéneos, es decir, teniendo en cuenta la revalorización definitiva de las pensiones en 2018 (se aprobó en...

May 24, 2019
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24May

US. House passes SECURE retirement bill with massive bipartisan support

The House of Representatives passed a sweeping retirement bill Thursday that makes it easier for small businesses to offer a workplace retirement plan, eases use of annuities in 401(k)s and raises the required minimum distribution age, among other changes. The Setting Every Community Up for Retirement Enhancement Act, passed the House on a 417-3 vote and now heads to the Senate, where it is expected to pass by the end of the current legislative session. If the bill becomes...

May 24, 2019
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24May

Icelandic pension funds and Bristish fund buy geothermal firm HS Orka

As reported this morning in Iceland, Jardvarmur slhf, a company jointly owned by 14 pension funds in Iceland, has decided to exercise its pre-emptive right in the only private power company in Iceland, HS Orka for the 54 per cent stake sold by Canadian energy company Innergex in HS Orka. In the sale process, a fund by Australian investment bank Macquarie put in the winning offer in Magma Energy Sweden A.B, which holds the the 54 stake in HS...

May 24, 2019
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23May

Chile. Gerente general de las AFP acusa al gobierno de “improvisación” en reforma de pensiones

El gerente general de la Asociación de AFP, Fernando Larraín, acusó al gobierno de "improvisación" por incluir dentro de la reforma de pensiones un ente estatal que maneje el 4 % de cotización extra que contempla la iniciativa del Ejecutivo. “Nos parece que ha habido algo de improvisación respecto de esto (…) Hay mucha incertidumbre respecto de este tema”, dijo en ADN Hoy el representante de las administradoras. “El proyecto de ley que envió este Gobierno se basaba en...

May 23, 2019
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