August 2022
12Aug

U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy

The Pension Regulator, the U.K. government body that oversees defined benefit pension plans, is calling on plan sponsors to help advance a three-pronged strategy to fight pension fraud. “Over many years, we have worked to prevent savers’ losses and put fraudsters in prison: running large-scale public awareness campaigns, leading a multi-agency response to the threat through [the pension scams action group]. . . . But the truth is, we must all do more to combat pension scams,” said Nicola Parish,...

August 12, 2022
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12Aug

Clorox to terminate primary U.S. pension plan

The Clorox Co., Oakland, Calif., is terminating is primary U.S. pension plan. The household products company's board of directors approved the resolution May 17 to terminate the plan, according to its 10-K filing with the SEC on Wednesday. The company plans to settle the plan with a combination of lump sums to participants and the purchase of a group annuity contract from an insurance company to transfer the remaining assets and liabilities, the filing said. The completion of the termination is expected...

August 12, 2022
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12Aug

Canada Pension Plan discloses billions in investments

Canada Pension Plan Investment Board, Toronto, reported a large number of investments and commitments it made in the first and second quarters of fiscal 2023, according to news release Thursday issued along with its results for its first fiscal quarter that ended June 30. CPP Investments, which manages the assets of the C$523 billion ($406.1 billion) Canada Pension Plan, said in the fiscal first quarter it closed a C$230 million investment in the term loans of Legal Search, a provider...

August 12, 2022
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11Aug

Labor Supply Flexibility and Portfolio Selection with Early Retirement Option

By Junkee Jeon & Jehan Oh In this paper, we study an optimal consumption and investment problem of an economic agent who can choose flexible labor supply and an option to early retire in the existence of mandatory retirement date. We model the agent's preference as the Cobb-Douglas utility, which is a function of consumption and leisure, and consider the agent's unit wage rate as a stochastic process. The optimization problem has a feature of combining both stochastic control and...

August 11, 2022
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11Aug

Inequality of Opportunity and Health Performance of Private Health Insurance — Empirical Evidence from China

By Rui Li, Minxue Jia & Su Yang Background: The role of private health insurance in protecting the population's health is an essential global concern. However, the for-profit nature of private health insurance has led to inequality of opportunity for coverage, which has implications for the health performance of insurance.Method: This article uses the 2018 China Urban Statistics Yearbook and cross-sectional data from the China Health and Retirement Longitudinal Study (CHARLS) of 2015 and 2018. Based on the Heckman two-step...

August 11, 2022
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11Aug

Public Redistribution in Europe: Between Generations or Income Groups?

By Bernhard Hammer, Michael Christl & Silvia De Poli Governments face a potential trade-off between provision for the population in retirement and the support of working-age households with low income. Using EUROMOD-based microdata from 28 countries, we quantify public redistribution to pensioner- and working-age households, distinguishing also by income group. In general, Northern European countries are characterized by a low net redistribution between households, limited public pensions, but a strong support of low-income households. By contrast, most Southern European countries...

August 11, 2022
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11Aug

México. Ninguna afore ha aprovechado el cambio en los fondos mutuos con estrategias activas: Consar

A finales de marzo se publicaron cambios regulatorios sobre el límite de inversión, el cual podría superar 35% con previa autorización del Comité de Análisis de Riesgos. La Comisión Nacional del Sistema del Ahorro para el Retiro (Consar) reportó que ninguna de las 10 administradoras de fondos para el retiro (afores), a través de las Sociedades de Inversión Especializadas (siefores), ha realizado inversiones por más de 35% de los activos netos tratándose de fondos mutuos con estrategias activas que tienen...

August 11, 2022
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11Aug

More than 13,000 sign petition calling for guaranteed £200-a-week UK pension

More than 13,000 people have signed a petition demanding a guaranteed pension of £200-a-week in the UK. A group of pensioners is calling for the weekly rate to go up in light of the cost of living crisis The Silver Voices group, which successfully fought for free TV licences for the over-75s, wants the Government to set a new floor for the amount OAPs receive. It comes as households are engulfed by soaring energy costs, runaway inflation and food price...

August 11, 2022
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11Aug

Perú AFP 2022: ¿Qué fondo es el más afectado por la baja rentabilidad?

Lo que se conoce hasta el momento es que en el mes de julio los fondos cerraron en rojo. Las AFP no se están recuperando. En el mes de julio, los fondos cerraron en rojo, pues tuvo una caída de hasta -9,69%, según el último reporte de la Superintendencia de Banca, Seguros y AFP (SBS). Perú AFP 2022: ¿Qué fondo es el más afectado? El Fondo 1 es el más perjudicado, al registrar una rentabilidad nominal anual de -9,69% y una real...

August 11, 2022
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11Aug

Ghana National ID card will save SSNIT $126 million

Director-General of the Social Security and National Insurance Trust (SSNIT) Dr. John Ofori-Tenkorang has said the GhanaCard will save the state pensions body several millions of dollars in the long term if properly synced to capture the bio-data of Ghanaians working and their survivors. According to him, only 2 million of the estimated 10 million working Ghanaians in both the formal and informal sectors are active SSNIT contributors and have been issued with biometric identity cards, while efforts are being...

August 11, 2022
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