March 2021

Perú. AFP amplían plazo para retiro de hasta 17,600 soles

La Asociación de Administradoras de Fondos Privados de Pensiones (AAFP) amplió el plazo para el retiro de fondos hasta por cuatro unidades impositivas tributarias (UIT), equivalente a 17,600 soles, a favor de las personas con diagnóstico oncológico. El gremio sostuvo que, considerando el desfase entre la emisión del certificado de diagnóstico oncológico y el registro de la solicitud de retiro, las Administradoras de Fondos Privados de Pensiones en coordinación con la Superintendencia de Banca, Seguros y AFP, optaron por ampliar...

España. El Gobierno estudia que los autónomos puedan elegir entre 13 bases de cotización

Los trabajadores autónomos podrán elegir entre 13 bases de cotización provisionales a la Seguridad Social en función de su previsión de rendimientos netos. Esta es una de las propuestas que baraja el Ministerio de José Luis Escrivá y que podría recogerse en el nuevo Régimen Especial de los Trabajadores Autónomos (RETA) en el que el Ejecutivo está trabajando junto con agentes sociales y las organizaciones de trabajadores por cuenta propia. En 2019 el 46% de los autónomos (unos 1,3 millones)...

‘Markets Are Wrong’: $2 Trillion of Pension Funds Skip Bond Rout

As interest-rate jitters supercharged a meltdown in the world’s biggest bond market, Sam Sicilia barely blinked. “The markets are wrong” about inflation expectations, said Sicilia, chief investment officer of the A$56 billion ($43 billion) Host-Plus Pty pension fund in Melbourne. “Deflationary forces are bigger. Interest rates are going to stay at effectively zero.” With governments around the globe still adding to trillions of dollars of stimulus to ride out the pandemic, pension fund managers who are trying to discern the long-term...

China’s aging population is a bigger challenge than its ‘one-child’ policy, economists say

China’s decades-old one-child policy gained renewed attention in the last few weeks, after authorities gave mixed signals on whether they were closer to abolishing limits on how many children people can have. Authorities have rolled back the controversial one-child policy in recent years to allow people to have two children. But economists say other changes are needed for boosting growth as births fall and China’s population rapidly ages. “There are two ways to address this. One way is to relax the...

UK. Pension risk settlements reached record high of over £54bn in 2020

The UK pension scheme risk settlement market hit a new record-high figure of over £54bn in 2020, and 2021 could be even bigger, according to analysis from Aon. The provider said it was possible to conclude that 2020 had broken the £52bn total achieved in 2019 now that all information on deals was available, while it cited “early indications” in its forecast that the new year could be worth even more. It also noted that the feat had been achieved despite...

February 2021

Fitch asegura que el descontento social con las pensiones es uno de los factores que probablemente hará que la consolidación fiscal sea un proceso lento

El modo en que los países latinoamericanos enfrenten el descontento social con sus sistemas previsionales, podría ser relevante para sus notas soberanas. Eso es lo que dice Fitch en un informe titulado “La encrucijada de las pensiones en América Latina: desafíos en pensiones, reformas e implicancias en las calificaciones soberanas”. Leer también Fitch Ratings rebajó calificaciones de Sura Asset Management Allí la clasificadora asegura que “en Chile, las quejas sociales en torno a su sistema de pensiones son una fuente de...

Latin American Sovereigns Are at a Pension Reform Crossroads

Fitch Ratings-London/New York-25 February 2021: Fiscal challenges and social grievances are adding urgency to a new wave of pension reforms in Latin America that could be relevant for sovereign ratings, Fitch Ratings says in a new report. Latin America’s population is still among the world’s youngest, but it is ageing at one of the fastest paces, and its savings patterns stand out as being especially low given the coming demographic pressure. But reform efforts will face challenges after years of...

US. With lower returns on the horizon, public pensions will turn to riskier assets, Moody’s says

State and local government pension systems are increasingly dependent on investment returns, and at risk of increasingly volatile results, as funding levels remain depressed and systems increasingly start to pay out more than they take in, according to a new report from Moody’s. The credit-ratings agency anticipates higher volatility and lower returns across asset classes in 2021 compared to 2020, even as many pension sponsors have spent the past few years lowering their assumed returns from previous loftier targets that...

Protecting people working through platforms: Commission launches a first-stage consultation of the social partners

Today, the Commission launches the first-stage consultation of European social partners on how to improve the working conditions for people working through digital labour platforms. Platform work is developing rapidly in the EU across a growing number of business sectors. It can offer increased flexibility, job opportunities and additional revenue, including for people who might find it more difficult to enter the traditional labour market. However, certain types of platform work are also associated with precarious working conditions, reflected...

República Dominicana. La rentabilidad de fondos de pensiones suma RD$58 mil 900 millones a las cuentas de los afiliados

En 2020 los fondos de pensiones se incrementaron en RD$58 mil 900 millones por la rentabilidad que se genera con las inversiones realizadas por las Administradoras de Fondos de Pensiones (AFP) con el objetivo de aumentar el patrimonio de los trabajadores afiliados y contribuir a un mejor retiro en la vejez. El 66 % del incremento total en 2020, que fue de más de RD$89 mil 240 millones, se generó por la rentabilidad de las inversiones, mientras el 34 %...