March 2021
18Mar

U.K. Pensions Regulator seeks to streamline codes of practice

The U.K. Pensions Regulator is consulting the retirement industry on its proposal to create a new online-based code of practice, the regulator said Wednesday. The consolidated code, which would encompass updated rules on plan governance and management, would replace 10 other existing codes. The regulator intends to clarify expectations on retirement plan governing bodies to help them better assess how well their policies address financial and operational risks. "The new code of practice represents TPR's ambition to create a single point of...

March 18, 2021
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18Mar

Too much, or not enough: the risks of drawdown

For many people approaching retirement, there is a sense of dread when it comes to navigating the rules about accessing their pensions. Pension drawdown has grown in popularity since 2015. It enables savers to take a tax-free lump sum from their defined contribution pension, but keep the remainder of the money invested to provide an income during retirement. Currently, three times the number of savers are opting for drawdown plans than those who are buying annuities, according to the Financial Conduct...

March 18, 2021
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17Mar

Perú. Comisión de Economía aprueba nuevo retiro de fondos de AFP de hasta S/ 17,600

La Comisión de Economía aprobó -con 10 votos a favor- el dictamen del proyecto de ley que dispone el retiro de hasta 4 UIT (S/ 17,600) de los fondos individuales de AFP a fin de aliviar la economía familiar afectada por las consecuencias del COVID-19. Leer también  Perú. Un millón de afiliados a las AFP en riesgo de quedar sin pensión Esta posibilidad no será aplicable a quienes califiquen para acceder al Régimen de Jubilación Anticipada por Desempleo. Leer también Perú. AFP:...

March 17, 2021
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17Mar

Uber Grants Vacation Pay, Pensions to U.K. Drivers in Change of Job Status

Uber Technologies Inc. said it will grant its U.K. drivers an employment status entitling them to vacation pay and pension contributions, a costly shift in one of its largest overseas markets amid a global debate over the treatment of gig-economy workers. Read also UK. Pension longevity risk transfers reach record-breaking £55.8bn in 2020 The changes may presage legal wrangling, however, because the ride-hailing company says it will guarantee its drivers the U.K.’s minimum wage only after they have accepted a trip—not...

March 17, 2021
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17Mar

Virus exacts toll on women’s retirement savings, workplace diversity efforts – panel

The issues facing women in saving for retirement dominated discussions at Pensions & Investments' Defined Contribution Spring Virtual Series held March 8-11. With the pandemic bringing those issues into sharp relief, talk centered on the "shecession," a reference to the COVID-19-triggered exodus of women from the workforce as they wrestled with the lack of child care options. During a panel discussion on the first day of the conference, which coincided with International Women's Day, speakers lamented the departure of women from...

March 17, 2021
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17Mar

What Is The Pension Provision In The Stimulus Package? An Explainer

By Teresa Ghilarducci Included in the $1.9 trillion stimulus bill signed by President Biden on Thursday is an $86 billion aid package for participants of about 185 to over 300 employer-union pension plans. If aid had not been available more than a million retired retail clerks, candy makers, truck drivers, construction workers and others would have faced severe cuts in their pensions. These plans are part of a larger system of about 1500 multiemployer pension plans covering about 10 million workers. These plans...

March 17, 2021
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12Mar

Chile. Tercer retiro desde las AFP: Superintendencia calcula que hasta seis millones de afiliados podrían quedar sin saldo y pensiones futuras caerían 30%

Algunos parlamentarios han estado preocupados por los eventuales impactos de un posible tercer retiro del 10%, ante dos iniciativas de Ley que hoy se encuentran en el Congreso. Uno de ellos es el diputado Camilo Morán, el que ofició a la Superintendencia de Pensiones para que le respondiera acerca de algunos efectos sobre el sistema previsional de otro proceso de retiro desde las cuentas individuales de las AFP. Y el regulador contestó. Leer también Chile. Las AFP reciben instrucciones relacionadas...

March 12, 2021
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11Mar

Perú. AFP: Hoy Comisión del Congreso continúa evaluando proyectos que proponen nuevo retiro de fondos de pensiones

Hoy, miércoles 10 de marzo la Comisión de Economía de Congreso vuelve a sesionar para continuar con la evaluación de nuevos proyectos que plantean nuevos retiros de fondos de pensiones de las AFP. Esta programada la exposición de cuatro iniciativas legislativas: - El proyecto de Ley N° 6500/2020-CR, el cual propone que se autorice el retiro del 100% de los fondos de las cuentas de capitalización. Esto esto solo aplicaría para afiliados en situación vulnerable, adultos mayores y personas con discapacidad...

March 11, 2021
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11Mar

Colombia. Lecciones y cambios que deja la pandemia en el mundo laboral

La llegada de la pandemia del coronavirus a Colombia obligó a las empresas a migrar sus modelos de trabajo, pasando de un esquema 100% presencial, a uno en el que los empleados comenzaron a trabajar desde casa para proteger su salud frente al covid-19. La pandemia ha dejado importantes cambios y lecciones en materia laboral. Por ejemplo, una de las lecciones más grandes que han aprendido las empresas es la importancia del talento humano dentro de las corporaciones, y el...

March 11, 2021
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11Mar

Responsible investing in different cultural contexts – Latin America

By Daniela Laurel Last week, we began with an investigation of how different geographies are engaged in Responsible Investment and Sustainable Finance practice. We kicked off with Europe and North America and today we continue with this series, focusing on Latin America before moving on to Africa and then ending with Asia Pacific. Reiterating an earlier caveat, we cannot generalize how an entire nation or population behaves and simply try our best to spot some cultural trends that stand out...

March 11, 2021
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