February 2021
25Feb

Argentina. El aumento a las jubilaciones de marzo estará por debajo de la inflación

La recomposición de las jubilaciones y pensiones a cargo de la Anses y de otras prestaciones como la Asignación Universal por Hijo (AUH), será de un nivel cercano a 8% en marzo, según el resultado de la fórmula incluida en la ley aprobada a fines de 2020,. Así, el haber mínimo sería de un valor de poco más de $20.570, en tanto que el haber máximo rondaría los $138.400. El porcentaje se ubica por debajo de la inflación del último...

February 25, 2021
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25Feb

UK pension fund fossil fuel investments laid bare

Despite more than 75% of the UK's local councils declaring a climate emergency, their pension funds are still pouring billions into fossil fuels the world over. A new report from campaigners Platform, Friends of the Earth (England, Wales and Northern Ireland) and Friends of the Earth Scotland reveals UK local government pensions held $14 billion in fossil fuel investments last financial year. The analysis said it equates to about $2500 invested in fossil fuels for each of the 6.8 million people...

February 25, 2021
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25Feb

Is COVID-19 a preview of what retirement will be like?

The pandemic has given many folks a taste of what retirement could be like. An abrupt end to work. A loss of social connection. Trying to make ends meet on a much lower income. Many haven’t been happy with the experience. Worried that your retirement could be similar? Here are eight lessons we can learn from the pandemic, all drawn from my new book. 1. Retirement can be a shock. In fact, it’s quite similar to what people experienced during the...

February 25, 2021
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25Feb

Emerging Europe strong on women’s economic opportunities but dragged down by low pensions

Countries from the emerging Europe region performed well on the latest global survey of women’s economic opportunities from the World Bank. The post-socialist countries of Central, Southeast and Eastern Europe and Eurasia had an average score of 86.4 points out of 100, while globally, women had just three-quarters of the legal rights afforded to men on average around the world. The report “Women, Business and the Law 2021”, looks at laws and regulations in eight areas that affect women’s economic opportunities...

February 25, 2021
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24Feb

Puerto Rico rechaza acuerdo; alega que recortaría pensiones

El gobernador de Puerto Rico anunció el martes que la junta de supervisión financiera llegó a un acuerdo que reduciría en un 80% la deuda de la isla, pero advirtió que su gobierno lo rechazará porque le exigiría recortar el sistema de pensiones. El impasse entre el gobierno y la junta financiera amenaza con sumir en la incertidumbre los intentos de superar un proceso similar a una declaración de bancarrota para el gobierno de la isla, que hace seis años...

February 24, 2021
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24Feb

Take-home pay in South Africa falls due to COVID-19 lockdown

The average take-home pay in South Africa has declined compared with the same period last year as businesses struggle to cope under national lockdown rules. This is according to the latest BankservAfrica Take-home Pay Index (BTPI), which found that the real average salary fell by 2.4% in the past month. “The real average and overall salary paid contracted in January 2021 after coming under strain from the pandemic and level 3 lockdown, according to the latest BankservAfrica Take-home Pay Index (BTPI),”...

February 24, 2021
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24Feb

Italy. Pension funds pull positive returns in 2020 despite pandemic

The pension fund for management staff of oil and gas company ENI has recorded positive results for all its investment options last year. The performance of its garantito assicurativo fund stood at 1.71%, 11.28% for the last five years. Its bilanciato (balanced) fund recorded a positive performance of 3.44% in 2020, with a 13.52% for the past five years. Fopdire’s dinamico fund hit 5.20% last year, reacing a 21.70% figure for the last five years. On average annually, for the...

February 24, 2021
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24Feb

S.Korea’s state-run pension fund posts 9.7% return in 2020 – health ministry

South Korea's state-run pension fund posted a provisional annual return rate of 9.7% in 2020, Health Minister Kwon Deok-cheol said on Wednesday, as the COVID-19 pandemic drove volatility in global financial markets. The National Pension Service (NPS) is the world's third-largest pension fund, with 833.7 trillion won ($750.39 billion) in assets as of the end of 2020. Last year's annual rate of return was lower than 2019's 11.3%, which was the highest on record since the National Pension Service Investment Management,...

February 24, 2021
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24Feb

US. Women’s Retirement Savings Especially Affected by the Pandemic

By Amanda Umpierrez The pandemic has aggravated financial insecurity for millions of American workers, but data shows it’s affected women more severely than men. A study by Nationwide found that among 297 women with investable assets of $100,000 or more, 72% believe the pandemic had a negative impact on their retirement savings. Additionally, women listed losses from the pandemic as their top financial concern last year. Other worries involved protecting assets, health care costs and longevity risk during retirement. “With women, when...

February 24, 2021
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23Feb

British Airways defers £450m of pension payments as Covid cuts flights

British Airways has struck a deal to delay £450m of pension deficit contributions as the company struggles through Covid travel restrictions that have left most of its planes grounded during the pandemic. The carrier’s owner, International Airlines Group (IAG), has also reached a final agreement over a £2bn loan that will give the company a larger financial cushion until Covid restrictions are eased. BA, which usually pays £37.5m a month into the New Airways Pension Scheme (NAPS), has struck a deal...

February 23, 2021
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