March 2021
04Mar

UK Budget: Sunak freezes lifetime allowance for pensions contributions

By Jenna Brown, Christopher Copper-Ind Britain's finance minister, Rishi Sunak, has frozen the lifetime allowance (LTA) for pension contributions at just over £1m for the remainder of this Parliament, and will be keeping IHT at the current level for a further five years. Read also UK. Women retirees win £2.7bn for underpaid pensions The Chancellor said the LTA would remain at its current level of £1,073,100 for 2020/21 rather than increasing in line with inflation. It had been expected to rise by...

March 4, 2021
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04Mar

Fraudsters prey on the fears of China’s aging population.

Shady retirement home and investment schemes have cheated China’s rapidly aging population out of hundreds of millions of dollars, spurring more than a thousand criminal cases in recent years. In a society that traditionally relied on family members to take care of elderly parents, fraudsters have been able to prey on fears that changing social norms and scarce resources will leave older people bereft, report Alexandra Stevenson and Cao Li for The New York Times. By 2025, more than 300 million...

March 4, 2021
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04Mar

UK. Women retirees win £2.7bn for underpaid pensions

About 200,000 women could be in line for payouts averaging £13,500 to top-up the underpayment of their state pension for up to two decades. The Department for Work and Pensions (DWP) revealed details of the underpayments on Wednesday. The errors focus on automatic cash increases for certain married women, widows and over-80s dating back to 1992 with "enhanced" pensions. The DWP estimated the bill for tackling the shortfalls to be about £2.7bn. The underpayment relates to the "old" state pension system - affecting...

March 4, 2021
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03Mar

México. CONSAR envía metodología de nuevo cobro de comisiones y Afores aún no se oponen

La Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) envió a la Comisión Nacional de Mejora Regulatoria (Conamer) la metodología sobre cómo se aplicarán las nuevas reglas para el cobro de comisiones que hacen las afores a más de 67 millones de trabajadores. En la reforma que se aprobó el año pasado, se estableció que las Administradoras de fondos de ahorro para el retiro (Afores) deberán cobrar sus comisiones con base en el promedio de las comisiones que...

March 3, 2021
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03Mar

Chile. Tercer retiro del 10% es declarado admisible por la Cámara de Diputados

La Cámara de Diputadas y Diputados declaró admisible un proyecto de tercer retiro del 10% del fondo de pensiones. La iniciativa fue ingresada por los diputados de oposición René Alinco (IND), Jaime Mulet (FRVS), Alejandra Sepúlveda (FRVS) y Esteban Velásquez (FRVS). Leer también  Chile. El 40% de los afiliados quedaría con $0 de saldo en su AFP con el tercer retiro El proyecto de reforma constitucional faculta a los afiliados y pensionados de las AFP a efectuar un retiro de hasta...

March 3, 2021
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03Mar

Can the United States accelerate sustainability in financial regulations?

In the last few years, while multiple countries have made progress in developing sustainable-finance plans to help direct investment to climate solutions and environmentally beneficial companies and products, the United States, under the administration of former President Donald Trump, moved to weaken environmental regulations and discourage sustainable investing. With the arrival of President Joe Biden’s administration, the United States could rapidly roll out policies to make up lost ground. Sustainable-finance plans advance globally Around the globe, countries are stepping up to...

March 3, 2021
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03Mar

Financial wellness can foster pension system in China

By Daisy Ho China faces mounting pension and retirement challenges, but it's not without silver linings. It's well known that China's huge and rapidly aging population will grapple with a shortage of pension coverage that looks set to worsen over the next few years. There is no quick fix for state pensions falling short of growing retirement needs, but policymakers see promoting private retirement saving schemes as a key means of filling the gap. Here, we see some encouraging signs, especially when...

March 3, 2021
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03Mar

South Africa. The battle for pension savings: Between secure retirement and survival

The retirement savings industry keenly follows Finance Minister Tito Mboweni's speech every year, if not for anything else, to advise savers how to maximise their tax benefits when tax rates and bracket adjustments are announced. The 2021 Budget speech, however, had a lot of game changers for the industry. The automatic enrolment of workers into retirement plans that the sector has long been advocating for, and the annuitisation of provident fund benefits – which has been delayed over and over...

March 3, 2021
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03Mar

US. Pandemic Prompts Many to Take More Notice of Retirement Plan

Major retirement plan recordkeepers have found that the COVID-19 pandemic prompted many Americans to take better stock of their retirement and emergency savings. Many even increased their 401(k) contributions, and only a small percentage took out a coronavirus-related distribution (CRD). TIAA found that more than three-quarters of participants in the plans it recordkeeps checked their account balance last year and 61% visited a provider website. This engagement, TIAA says, was likely driven by the dramatic volatility of the year. TIAA...

March 3, 2021
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02Mar

El Ingreso mínimo vital. Una propuesta para México

Por Ángel Guillermo Ruiz Moreno Frente a los enormes retos que México deberá afrontar en la tercera década del siglo XXI debido a las secuelas de la pandemia mundial de la enfermedad COVID-19, los coautores de este libro, en su mayoría destacados académicos e investigadores nacionales de diversas universidades del país, concuerdan en que una buena alternativa para atemperar la enorme desigualdad social, la crisis sanitaria, el crecimiento exponencial de la pobreza, la problemática de la informalidad laboral, junto al...

March 2, 2021
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