May 2019

22May

España. Los planes de pensiones registran 500 millones de salidas netas desde 2018

El dinero ahorrado en España en planes de pensiones privados está menguando. Desde comienzos de 2018 hasta el cierre del primer trimestre de 2019, este tipo de instrumentos registró salidas netas de fondos por un importe de 499 millones de euros. Los que se jubilan sacan más dinero del que aportan los que aún están trabajando. A finales de marzo de 2019, los planes de pensiones individuales acumulaban un patrimonio de 75.000 millones de euros. Sumando los planes de...

May 22, 2019
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22May

México. Piden en mercados de valores no sobredimensionar renuncia en IMSS

Luego de la renuncia de Germán Martínez Cázares al frente del Instituto Mexicano del Seguro Social (IMSS), María Ariza, directora general de la Bolsa Institucional de Valores (BIVA), comentó que esto es una noticia que naturalmente impacta pero seguramente el gobierno tomará acción rápida para traer a alguien a la toma de decisiones del organismo. “Obviamente impacta dado que el IMSS tiene influencia también en la Administradora de Fondos para el Retiro (Afore), y por lo tanto queremos que...

May 22, 2019
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22May

Brazil Investors Bet on Pension Reform Approval. Once Again.

Brazilian assets tumbled over the past week as President Jair Bolsonaro’s administration faced nationwide protests, setbacks in the approval of key decrees and new strains in its relationship with Congress. Yet the prospects for pension reform are finally looking up. Political consultancy Eurasia raised the odds of approval of the government’s flagship economic proposal to 80%, up from 70%, citing lawmakers’ waning resistance to a measure deemed vital to Brazil’s finances. Bank of America Merrill Lynch upgraded the nation’s...

May 22, 2019
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22May

Kenya. Retirements regulator strategic plan to boost assets

The pensions sector dropped in performance of various investments in the past year, a report has shown. The decrease in the assets during the half-year was attributed to the volatility in the stock market of which investment in quoted equities decreased by 19.83 per cent. The performance is, however, better than the year before, with marginal increases recorded. The top five fund managers during the period were Sanlam Investments East Africa, GenAfrica Asset Managers, Old Mutual Investment...

May 22, 2019
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22May

Peru – New Law establishes a special early retirement regime for the unemployed in the private pension system

On 3 May 2019, the ‘Law establishing a special early retirement regime for the unemployed in the private pension system’ (Law 30939) was published in the Official Gazette ‘El Peruano’. The main provisions of the Law are set out below. At the time of applying for the benefit, men must be at least 55 years of age and women 50. To request it, they must have been unemployed for 12 consecutive months or more, and prove the date of...

May 22, 2019
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21May

México. Podrán afiliarse al IMSS; Cabify dará facilidades en el ahorro voluntario

Los representantes de las plataformas digitales dieron visto bueno al programa que presentó el Servicio de Administración Tributaria (SAT), pues al pagar impuestos y estar en la formalidad, los conductores de Uber, Cabify, Beat, Bolt y los repartidores de Rappi, SinDelantal, Uber Eats y Cornershop podrán acceder a la seguridad social. Federico Romero, presidente de Uber y Uber Eats, indicó que entre los beneficios más importantes que tendrán los trabajadores está el acceso a los servicios de salud del Instiruto...

May 21, 2019
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21May

Chile. Presidente de Asociación de AFP y exclusión del 4% de cotización: “Todo esto va en perjuicio de los trabajadores, es increíble”

Andrés Santa Cruz sostuvo que es insólito que mientras el proyecto de pensiones busca aumentar la competencia, el Ejecutivo deje fuera a las AFPs de la administración de la cotización adicional. El presidente de la Asociación de AFP, Andrés Santa Cruz, criticó al gobierno por la decisión de excluir a dichas entidades de la administración de 4% adicional de cotización que contempla el proyecto de pensiones.“Llama la atención, por no decir que es insólito, que cuando todo el...

May 21, 2019
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21May

US. The Coming Pension Crisis Is So Big That It’s A Problem For Everyone

By John Mauldin (President of Mauldin Economics) A decade ago I pointed out that public pension funds were $2 trillion underfunded and getting worse. More than one person told me that couldn’t be right.They were correct: It was actually much worse. It has gotten to $2 trillion and much worse in just a few years.Note that we are talking here about a specific kind of pension: defined benefit plans. They are usually sponsored by state and local governments, labor unions, and...

May 21, 2019
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21May

Australia. Tony Abbott’s Going to Make Way More Money After Losing His Job

Tony Abbott lost his job over the weekend. The former Australian prime minister, onion muncher, and long-term MP for the north Sydney electorate of Warringah suffered a crushing defeat at the hands of Independent underdog Zali Steggall on Saturday night, bringing his political career to an abrupt and somewhat humiliating end. “I can’t say it doesn’t hurt to lose,” he told his supporters on election night, after conceding to Steggall. “So be it. I’d rather be a loser than...

May 21, 2019
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20May

Three Economic Myths about Ageing: Participation, Immigration and Infrastructure

By Dr Cameron K. Murray, Leith van Onselen Population ageing due to longevity is one of the greatest successes of the modern era. However, it is widely thought to dramatically reduce workforce participation and overall output resulting in significant economic costs. This widely held view is wrong. Ageing countries have higher economic growth and the improved health and longevity of older people increases their economic contributions. High immigration is also thought to combat population ageing and be a remedy...

May 20, 2019
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