May 2022

Vice president commits to “significantly increase number of Ghanians in pension schemes”.

Vice President Dr Mahamudu Bawumia has said a well-regulated and functioning pension system is a major driver for investment and development of the country. Read also Arab Pensions Conference grows into key regional platform Together with the National Pensions Regulatory Authority (NPRA) and all stakeholders, Dr Bawumia said they will work together to accelerate the pace of pension acceptance through the use of digitalization, but to focus on designing and rolling out tailored pension schemes for the informal sector, such as...

How to make active aging an integral part of economic growth in China

China is a rapidly graying country with those aged 60 or above reaching 267 million or 18.9% of the total population, and this may rise to one-third of the population before 2050. Welfare reform must work in tandem with social policy so as to make active aging an integral part of economic growth, linking health to wealth and common prosperity. Healthcare, labour reskilling and gender parity are three areas of focus for domestic policy to solve the challenges...

UK. Public-Sector Workers Delay DC Plan Decumulation

Almost half of public sector employees are taking no action to decumulate defined contribution plan retirement savings once retired, according to Mission Square Retirement research released this month. Josh Franzel, managing director at the Mission Square Research Institute, says the results of their research can help plan sponsors understand how public sector participants and retirees—most of whom also have a defined benefit plan—behave regarding their supplemental defined contribution savings. “It’s important to take a holistic view from a plan sponsor perspective...

China: Big Four banks to pilot private pension scheme

China's Big Four state-owned banks will launch a pilot programme for retirement savings products in several regions soon, the CBIRC has announced. The banks are Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank. The retirement savings products, under development by the CBIRC and the People's Bank of China, are long-term investment plans with stable yields, fit for risk-averse residents, reported Xinhua News Agency citing the CBIRC. Banks to handle pension funds of up...

México. Al cierre de abril, afores reducen sus ganancias en 84.5%: Consar

México. Al cierre de abril, afores reducen sus ganancias en 84.5%: Consar

Las ganancias de las 10 administradoras de fondos para el retiro (afores) se ubicaron en 695.8 millones de pesos al cierre del primer cuatrimestre del año. Esto representó una reducción de 84.5% real respecto al mismo periodo del 2021. Mientras tanto en comparación mensual se observó una caída de 16%, puesto que en marzo reportaron una ganancia de 827.7 millones de pesos, de acuerdo con datos de la Comisión Nacional del Sistema del Ahorro para el Retiro (Consar). En febrero, la...

UK. Cost of living crisis could worsen pension scams

The cost of living crisis could worsen the number of pension scams according to wellbeing specialist People-tech. It warns people struggling with rising costs are likely to access their pensions and has relaunched a scam predictor tool. The pension scam predictor works as savers are asked a range of straight forward questions that a scammer might use to coerce them into transferring their pension. Once complete the predictor displays a likelihood of the pension transfer being a scam, listing the red flags...

Chile termina la redacción de su nueva Constitución: tendrá 499 artículos

Chile termina la redacción de su nueva Constitución: tendrá 499 artículos

La nueva Constitución de Chile apunta a crear un sistema universal de salud, fortalecer la educación pública, la corresponsabilidad de género, proteger el medioambiente, engrosar los derechos de los pueblos indígenas, etc. Leer también Hacia un contrato social renovado en tiempos de Covid-19 para América Latina: ¿por qué? ¿qué incluir?, ¿cómo llevarlo a cabo? La redacción de la nueva Constitución de Chile entra en la recta final con la entrega del borrador del texto a la Comisión de Armonización, uno de...

Australia. Pensioners hit hard by living cost increases

Annual increases in living costs have continued to rise, with age pensioner households experiencing a annual spike of about five per cent in living costs, according to new Australian Bureau of Statistics [ABS] data. According to the ABS data, the annual increase in living costs to the March 2022 quarter for employee households (households whose principal source of income is from wages and salaries) was 3.8 per cent. However, the annual rise in living costs for age pensioner households (households whose...

Are pension funds transparent enough about their investments?

The latest report from the UN’s Intergovernmental Panel on Climate Change, published in April 2022, made clear that the window for preventing the worst of climate change is closing fast. Plans already in place are not enough to limit global warming to 1.5C above pre-industrial levels, said the report, and more must be done to accelerate the energy transition. These efforts will require huge levels of capital. The UN has estimated that $90trn in infrastructure investment alone is needed by...

México. Falta de dinero, principal razón para no hacer aportaciones voluntarias

México. Falta de dinero, principal razón para no hacer aportaciones voluntarias

La Encuesta Nacional de Inclusión Financiera (ENIF) 2021 dejó ver un aumento en las personas que no realizan aportaciones voluntarias a su afore, al ubicarse en 49% de los encuestados que respondieron tener una cuenta en las administradoras de fondos para el retiro (afores). En la encuesta del 2018, 45 respondió que no tenía esta práctica. Las aportaciones voluntarias son depósitos adicionales a la cuenta individual que pueden realizarse en cualquier momento y de acuerdo con las posibilidades de cada...