March 2021
23Mar

UK. Pensions dashboard roll-out in 2023 ‘under threat’

The target date of 2023 for the roll-out of the pensions dashboards is under threat from a lack of clarity, the Society of Pension Professionals has warned. The lack of clarity and complexity of the dashboard roll-out is such that it might be impossible to provide some savers with a "single number" for their benefits. Read also UK. Emerging passive investing risks a new concern James Riley, president, and Paul McGlone, immediate past president, wrote to the Pensions Dashboards Programme detailing a list...

March 23, 2021
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23Mar

Lessons defined benefit plans can learn from last year

The 2020 funded status of the 100 largest corporate defined benefit (DB) plans by assets rose only slightly as double-digit equity returns were offset by a decline to record-low discount rates, according to a proprietary analysis conducted by J.P. Morgan Asset Management. The report, written by Michael Buchenholz, head of U.S. pension strategy, institutional strategy and analytics, reveals the benefits that came from rebalancing liability-driven investing (LDI) portfolios during the market volatility of last year. He first points out that...

March 23, 2021
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23Mar

US. Small employers have new federal incentives to offer worker retirement benefits

There has been a dizzying array of major legislative programs passed by Congress over the last few years that have impacted small and midsize businesses, particularly in response to the coronavirus pandemic. But one that seems to have gone under the radar — perhaps because it was passed pre-pandemic in Dec. 2019, and went into effect Jan. 1, 2020 — is the Setting Every Community Up for Retirement Enhancement, or SECURE Act, which tries to help more American workers save...

March 23, 2021
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23Mar

UK. PensionBee cuts gender pay gap to 4%

PensionBee has reduced its median hourly gender pay gap to 4 per cent, in line with its aim of achieving equality with a variance of 5 per cent permitted due to the overall size of the employee base. The pension provider, which also noted it had a median bonus pay gap of 0 per cent among its staff, said it had achieved gender employment parity across all levels of its business, while figures from the Office for National Statistics (ONS)...

March 23, 2021
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22Mar

México. Edad para recibir pensión de adultos mayores bajará de 68 a 65 años, anuncia AMLO

Andrés Manuel López Obrador, presidente de México, aseguró este domingo que los adultos mayores recibirán sus pensiones a partir de los 65 años y que estas incrementarán su monto al doble en 2024. Leer también México. Pensión universal, bazucazo electoral “La pensión universal de los adultos mayores se entregará a partir de los 65 años como se hace cuando se trata de población indígena; la actual pensión se incrementará gradualmente hasta llegar al doble al inicio de 2024. Este plan iniciará...

March 22, 2021
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22Mar

Perú. Retiro AFP: BCR calificó de “irresponsables” a proyectos aprobados por el Congreso

Tras la declaración del retiro de hasta 4 UIT del fondo de AFP aprobado por la Comisión de Economía del Congreso, el presidente del Banco Central de la Reserva (BCR), Julio Velarde, se pronunció al respecto calificando a los proyectos de “irresponsables”. “Realmente no hay forma de calificar generosamente estos proyectos, son claramente irresponsables. Hay un mañana y realmente estamos destrozando el sistema (privado) de pensiones sin poner alternativas. Uno todavía podría entender (hacer), en el peor momento de la...

March 22, 2021
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22Mar

US. Covid-19 Makes Racial And Class Status Longevity Gaps Worse

Everyone knows the poor die sooner than the rich. Some humans can live past 90, but many don’t have access to the health and wealth that lets humans live a normal human life span. In the last 20 years, all longevity gains for Americans have gone to those in the upper half of the income distribution. Boston University researchers Jacob Bor, Gregory Cohen and Sandro Galea found that income and education gaps in life expectancy widened during the period 1980–2014....

March 22, 2021
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22Mar

UK. Emerging passive investing risks a new concern

Investment consultants around the globe are asking their pension fund clients to think carefully about two very real concerns that have emerged in passive investing: ESG-related and concentration risks. Some pension fund clients have heeded their advice, reconsidering whether they should be implementing some kind of ESG tilt to their benchmarks and in other cases, looking to take portions of the allocation to an active manager instead. "We are … having exactly these conversations: How much of this risk are people...

March 22, 2021
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19Mar

IRS Pension and Annuity Income

By IRS This publication discusses the tax treatment of distributions you receive from pension and annuity plans and also shows you how to report the income on your federal income tax return. How these distributions are taxed depends on whether they are periodic payments (amounts received as an annuity) that are paid at regular intervals over several years or nonperiodic payments (amounts not received as an annuity). Get the book here

March 19, 2021
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19Mar

The Welfare and Labor Market Effects of Mandatory Pension Savings: Evidence from the Israeli Case

By Adi Brender Many studies show that workers make poor decisions about pension savings. Policy responses to these failures include social security retirement arrangements, tax benefits for pension savings and, in some countries, also mandatory private savings towards retirement. This study examines the response of Israeli employees to the introduction of mandatory pension contributions, and the medium-term labor market effects of the arrangement, using a randomly selected panel of 300,000 employees. The first year of the arrangement, when enforcement was...

March 19, 2021
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