July 2022
19Jul

Swiss corporates post over 20% drop in pension liabilities so far this year

Liabilities at Swiss companies’ pension schemes have continued to fall in the second quarter of 2022, leading to an overall decrease of over 20% since the beginning of the year, according to the latest quarterly Swiss Pension Finance Watch published by WTW. Pension liabilities on companies’ balance sheets have reached their lowest level in nine years in the second quarter of this year, WTW added. In Q1 liabilities dropped by over 12%. The decrease in the two quarters was caused by...

July 19, 2022
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18Jul

Chile. En solo 5 años migrantes pasan de ser el 3% al 11% de las cuentas en AFP

Tras los chilenos, con el 87,3% del total, siguen venezolanos, peruanos y haitianos. Entre los afiliados inmigrantes que se incorporaron a las AFP entre marzo de 2021 e igual mes de este año los peruanos desplazaron a los haitianos. Ya son 1,2 millones los afiliados a AFP de nacionalidades distintas a la chilena. En doce meses, las mujeres lideran los ingresos al sistema. Un total de 11.484.198 afiliados se registraba a marzo de este año en las AFP. De ellos, el...

July 18, 2022
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18Jul

República Dominicana. Gobierno agota los fondos de pensiones, piden al presidente asignar mas recursos

La Dirección General de Jubilaciones y Pensiones (DGJP), necesita una inyección de recursos económicos adicionales para afrontar las crecientes demandas de pensiones de amplios sectores de la población. Así lo afirmó Juan Rosa, director de la entidad, al recibir una comisión de periodistas encabezada por Olivo De León, presidente del Instituto de Previsión y Protección del Periodista (IPPP), y Aurelio Henríquez, presidente del Colegio Dominicano de Periodistas (CDP), quienes acompañaron a los nuevos pensionados a acreditarse para cobrar sus pensiones. El...

July 18, 2022
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18Jul

US. Managers still looking for opportunities with rising inflation, market fluctuations

Money managers are largely in agreement that inflation, volatility and further market drops are all likely to be in the cards for investors the rest of the year. But that doesn't mean there are not investment opportunities to be found. Equity markets could take a further hit, giving investors the opportunity to find some bargains, but bond strategies could be due for a reversal. Christopher C. Newman, head of Americas division for T. Rowe Price Group, said in an interview that...

July 18, 2022
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18Jul

Nigeria. Pension fund investment in equities up 7.4% to N1.1trn due to stock market boom

The rising fortunes of investors in the nation’s stock market, as reflected in the 22.4 per cent year-to-date growth in total value of equities on the Nigerian Exchange Limited, NGX, has triggered a 7.4 per cent increase in the value of pension funds investment in equities to N1.1 trillion. This is in sharp contrast to 0.4 per cent growth in pension funds investment in federal government bonds recorded during the same period, which is the preferred and less risky investment...

July 18, 2022
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18Jul

UK. Pair of ‘advisers’ jailed over £20mn pension fraud

Two “advisers” who convinced hundreds of pension holders to transfer their pots into self-invested personal pensions, and then unknowingly put them into risky investments as part of a £20mn fraud, have been jailed. Mark Kelly and Rikki Nicholls were each sentenced to six years’ imprisonment for conspiracy to defraud and money laundering at Southwark Crown Court on July 15. According to the Crown Prosecution Service, both men devised a plan to persuade pension holders, predominantly Equitable Life customers, to transfer their...

July 18, 2022
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15Jul

IMF Engagement on Pension Issues in Surveillance and Program Work

By IMF The International Monetary Fund (IMF) is increasingly involved in offering policy advice on public pension issues to member countries. Public pension spending is important from both fiscal and welfare perspectives. Pension policy and its reforms can have significant fiscal and distribution implications, can influence labor supply and labor demand decisions, and may impact consumption and savings behavior. This technical note provides guidance on assessing public pension systems’ macrocriticality, i.e., sustainability, adequacy, and efficiency; it also discusses the issues...

July 15, 2022
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15Jul

Seven Economic Facts About the U.S. Racial Wealth Gap

By Kristen Broady, Darlene Booth-Bell & Taylor Griffin Using data from the 2019 Survey of Consumer Finances and the U.S. Census Bureau, along with data and research from other sources, this paper presents seven economic facts about the racial wealth gap in the U.S. We present data on racial disparities in income, employment, homeownership, education, access to credit, and retirement savings – all factors that contribute to a significant and persistent gap in net worth between households of different races...

July 15, 2022
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15Jul

Old Age Pensions and Social Security Today: Need to Introduce ‘Time Bank’ for the Unmet Social Needs of the Elderly in Uganda

By Kibs Boaz Muhanguzi World over, many programs have been put in place to ensure reasonable welfare and relevance of the elderly senior citizens in the community. Out of these diverse programs, pensions and social security fund, and Social Assistance Grants for the Elderly (SAGE) are common. Of recent, the introduction of time banks; a non-financial, barter system of exchange, with the aim of ensuring access to the unmet social needs of the elderly people in the community has emerged....

July 15, 2022
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15Jul

The Unbearable Lightness of the Reform of the Pension System

By Hans van Meerten & Sanne Vlastuin In this article, Hans van Meerten (Professor of European Pension Law at Utrecht University) and Sanne Vlastuin (Master's Student in Private Law at Utrecht University) discuss the transition to a new Dutch pension system. In particular, they pay attention to European law aspects that could be problematic in this light, including the pension participant as consumer and the information gap of pension participants. More is needed to make the envisaged pension system EU-proof...

July 15, 2022
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