April 2022
19Apr

World Bank cuts 2022 global growth outlook on Russia invasion

The World Bank cut its forecast for global economic expansion this year on Russia's invasion of Ukraine and is planning to mobilize a funding package bigger than the COVID-19 response for nations to deal with various resulting and ongoing crises. The institution lowered its estimate for global growth in 2022 to 3.2% from a January prediction of 4.1%, President David Malpass told reporters on a call on Monday. The decline was spurred by a cut in the outlook for Europe...

April 19, 2022
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18Apr

México. Tope a las comisiones tira utilidad de las Afore

Durante el primer trimestre de 2022, el tope impuesto al cobro de comisiones de las Afore impactó en las ganancias de las 10 administradoras que operan en México, al registrar al cierre de marzo un total de 827 millones 748 mil pesos, una reducción de 74% en términos nominales respecto al mismo periodo de 2021. Se trata del peor arranque de año para las Afore desde que se tiene registro en la Comisión Nacional del Sistema de Ahorro para el...

April 18, 2022
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18Apr

Estudio de FMI concluye qué hay demasiados jubilados en Argentina

En las últimas horas trascendió que el staff del Fondo Monetario Internacional (FMI) ha apuntado contra las jubilaciones asegurando que muchos adultos mayores perciben haberes muy altos en el país. La afirmación figura en el informe que acompaña el acuerdo con Argentina, del pasado 25 de marzo. El informe sostiene que hay muchos jubilados con relación al total de adultos mayores y que el sistema previsional paga haberes muy altos con relación a los salarios en comparación con los países...

April 18, 2022
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18Apr

Chile. Doble Retiro AFP: ¿Podrían aprobar los dos proyectos en paralelo para ocupar los ahorros previsionales?

Por Ignacio Salinas Producto del complicado momento económico que atraviesa el país, el quinto retiro AFP es una de las iniciativas que mayor controversia ha generado en la población, y del cual hay dos proyectos en el Congreso a la espera de ser votados. Y es que ambos proyectos del quinto retiro AFP, tanto el que ingresaron los parlamentarios como la iniciativa que ingresó el Gobierno de Gabriel Boric, serán votados en la Cámara de Diputados y Diputadas el lunes 18...

April 18, 2022
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18Apr

Argentina has too many pensioners, according to an IMF report

A recent report by the International Monetary Fund (IMF) has underlined the fact that Argentina has a larger proportion of citizens earning pensions when compared to other countries in the world. The IMF document also stressed many of those allowances were disproportionately high when compared to wages of active workers in OECD (Organization for Economic Cooperation and Development) countries, which include the United States, Germany, Italy, Japan, and Spain. The report is dated March 25 and is attached to the understanding...

April 18, 2022
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18Apr

US. The age for required withdrawals from retirement accounts could go higher. Here’s who would benefit

Required minimum distributions, or RMDs, are amounts that must be withdrawn annually from qualified retirement savings accounts. If the RMD age is raised to 75 from 72, it would provide more time to move assets to a Roth individual retirement account, which comes with no RMDs during the owner’s lifetime. There are some instances when you may not want to convert money from a traditional 401(k) plan or IRA to a Roth. Some future retirees could end up getting...

April 18, 2022
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18Apr

Ireland. Pension bill will rise €7m a year by end of the decade

The government will be paying €7 billion a year more on pensions and healthcare for retired people by the end of the decade, the Department of Finance has warned, as it included Ireland’s ageing demographic on a list of risks to the economy released last week. John McCarthy, the department’s chief economist, said spending on older people would rise steadily over the coming years, while the cost of borrowing was also likely to rise and the economy would be vulnerable...

April 18, 2022
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18Apr

US. Labor Department announces new ERISA Advisory Council members

The Department of Labor on Friday appointed seven members to its ERISA Advisory Council. It also announced that Peter Wiedenbeck, the Joseph H. Zumbalen professor of the law of property at Washington University School of Law, will serve as chairman of the 15-member council in 2022. Megan Broderick, senior director for global retirement and financial well-being at PepsiCo., will serve as vice chairwoman, according to a Labor Department news release. The council's new appointees, who will each serve three-year terms, are: ...

April 18, 2022
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15Apr

Swedish regulator to screen funds for ‘green painting’

Sweden's financial regulator said it will start reviewing funds to enforce new sustainable regulations and to prevent "green painting." The Swedish Financial Supervisory Authority, or Finansinspektionen, said it will review "whether the information provided about the funds that are classified as most sustainable meets the strict requirements" of sustainable finance disclosure regulation rules implemented in March 2021. In a notice on its website Tuesday, FI said that as demand for green and sustainable funds increases rapidly, "this entails the risk of...

April 15, 2022
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15Apr

Kenya. Treasury cuts pensions and gratuity cash by Sh42bn

The Treasury has cut the budget for paying retired public servants by nearly Sh42.50 billion, pointing to a growing backlog which will not be cleared by end of June. The expenditure on pensions and gratuities for the current financial year has been slashed to Sh111.14 billion from earlier estimates of Sh153.64 billion, according to fresh estimates Treasury Cabinet Secretary Ukur Yatani has tabled in the National Assembly. This came after Mr Yatani said payroll for the public service pension was growing...

April 15, 2022
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