February 2021
15Feb

UK. Govt urged to conclude net pay review in Spring Budget

The government should support the retirement incomes of lower paid workers by concluding the net pay review in this year’s budget, according to Now Pensions. Chancellor Rishi Sunak’s Spring 2020 Budget, released on 11 March last year, had stated that the government would “shortly publish a call for evidence on pensions tax relief administration” following the inclusion of plans for a comprehensive review of issues caused by the anomaly in the Conservative Party’s 2019 election manifesto. However, this review was paused...

February 15, 2021
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15Feb

Ireland. Pensions timebomb waiting to go off unless we take action now

As we battle our way through the Covid-19 pandemic the Government has had to deal with an extraordinary crisis with no advance warning or time for preparation. However, there is another major issue that has been gathering pace for some time and which also affects everyone in this country – and that is the “pension crisis”. In this case the Government has had time to plan, be prepared and act and that time is now. Luckily, much of the work...

February 15, 2021
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15Feb

U.S. Signals Policy Shift on California State Retirement-Savings Program

Signaling a shift in retirement policy, the U.S. Labor Department has dropped its support for a lawsuit that seeks to invalidate a California state retirement-savings program for people who lack access to 401(k) plans at work. In a notice filed in a federal appeals court on Feb. 5, the agency said because of the change in administration, it “no longer wishes to participate” in the case and “does not support either side.” The reversal “isn’t surprising,” said John Scott, director of...

February 15, 2021
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15Feb

Ageing can be cured—and, in part, it soon will be

ld age is a massacre,” wrote Philip Roth, long before the pandemic underscored its hazards. Even those who count as young must often watch the ineluctable drift of loved ones into decrepitude. Andrew Steele has a hopeful message for all those facing this prospect (ie, everyone). Old age needn’t be a massacre; in fact, old age needn’t even be old. Mr Steele’s thesis in “Ageless” is that ageing can be cured—and, at least in part, that it very soon will...

February 15, 2021
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12Feb

México. La pandemia hace que se disparen quejas por expediente electrónico

Las quejas de usuarios de las Afores relacionadas con la integración de su expediente electrónico, requisito para trámites como la pensión o retiro por desempleo, se incrementaron más de 500 por ciento anual en 2020, según datos del acuerdo con los registros de la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef). El expediente electrónico es un archivo digital que contiene todos los documentos de los aforados, con datos personales, fotografía y biométricos como...

February 12, 2021
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12Feb

Chile. AFP: 2020 se corona como el año con la mayor cantidad de traspasos desde el debut de los multifondos

Salvo ciertas restricciones para quienes están por jubilarse, actualmente Chile es el único país de Latinoamérica donde no existe prohibición de realizar traspasos voluntarios entre multifondos. En los últimos años, la fuerza que han ido ganando estos cambios, llegó a tal punto que en 2020 se registraron 10.936.987 traspasos totales, siendo la mayor cantidad desde que se crearon los multifondos en 2002. De acuerdo con el análisis de la consultora Ciedess, dicha cantidad representó un aumento 334,8% al comparar con la situación observada en 2019. Esto significó...

February 12, 2021
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12Feb

Danish pension giant ATP makes first investment in social bonds

Denmark’s ATP, one of the first pension funds globally to buy green bonds, has made its first investments in so-called social bonds as part of its sustainable portfolio, it said on Thursday. Social bonds, which are debt issued for socially beneficial projects such as eradicating child labour or strengthening workers’ rights, have caught the eye of investors during the COVID-19 pandemic, when ethical investments have surged. “In 2020, we decided to take it one step further and expand our universe to...

February 12, 2021
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12Feb

US. House Includes Pension Reform Plan in COVID-19 Relief Bill

The House Ways and Means Committee has included a pension reform provision in a COVID-19 relief bill that would create a special financial assistance program to help multiemployer pension plans and extend amortization periods for single-employer plans. Read also US. AIG to pay New York $12M for unlicensed pension risk transfer business The Butch Lewis Emergency Pension Plan Relief Act of 2021, which is included in the bill, would create a special financial assistance program under which cash payments would be...

February 12, 2021
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12Feb

UK roundup: £1trn of DB pension risk to be insured by 2031, says Hymans

Recent analysis by Hymans Robertson shows that £1trn (€1.13trn) of risk from defined benefit (DB) pension schemes is expected to have been insured by the end of 2031. The analysis showed that since the pension risk transfer market took off in 2007, buy-ins/buy-outs (£180bn) and longevity swaps (£110bn) have already insured £300bn of risk from DB pension schemes. Further analysis by the consultancy points to an additional £700bn of DB pension scheme risk being insured by the end of 2031, resulting...

February 12, 2021
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11Feb

México. Pese a pandemia y a ser voluntaria, afiliación de trabajadoras del hogar al IMSS subió

Carmen es trabajadora del hogar. Hace unos meses tuvo una caída y por primera vez pudo acceder a servicios médicos gratuitos gracias a que está afiliada a la Prueba Piloto para empleadas como ella del Instituto Mexicano del Seguro Social (IMSS). Pero reconoce que no fue a ella a quien se le ocurrió inscribirse, porque cualquier trámite de gobierno le parece burocrático, sino que fue su patrona, con la que lleva trabajando 24 de sus 49 años, quien le...

February 11, 2021
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