February 2020

21Feb

Latin Americans Expect To Have ‘Gaps’ In Retirement Income: LIMRA

A new study finds that 64% of Latin American adults expect to have significant gaps in their retirement funds when they turn 60, and 52% don’t believe the income from their government-funded pension (Social Security) and their employer-sponsored pension will cover basic living expenses. Also Read Which countries’ workers spend the longest (and shortest) in retirement? The study was conducted by Secure Retirement Institute and the Society of Actuaries (SOA) Almost half of Latin American consumers consider it their...

February 21, 2020
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10Feb

Deal reached to cut bankrupt Puerto Rico’s debt by $24 bln

Puerto Rico would shed about $24 billion of debt and move closer to exiting bankruptcy under an agreement with bondholders announced on Sunday by the U.S. commonwealth's federally created financial oversight board. The deal would cut $35 billion of bonds and claims to about $11 billion as it increases the ranks of general obligation (GO) and Public Buildings Authority (PBA) bondholders that signed onto a plan to restructure core government debt and more than $50 billion in pension obligations...

February 10, 2020
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01Feb

Reforming Pensions in Developing and Transition Countries (Social Policy in a Development Context)

By K. Hujo This book moves beyond technical studies of pension systems by addressing the political economy of pension reform in different contexts. It provides insights into key issues related to pension policy and its developmental implications, drawing on selected country studies in Africa, Asia, Eastern Europe, the Middle East, and Latin America. Get the book here

February 1, 2020
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January 2020

20Jan

Costa Rica: Increase In The Social Security Contribution Towards Disability, Old Age And Death

By Anna Karina Jiménez, Gloria Leandro the amendment to Transitory XI of the social security contribution towards Disability, Old Age and Death (IVM by its Spanish acronym) Regulation was published, accepting the recommendation of the Dialogue Board of 2017, which proposed accelerating the implementation period of the established steps for the contribution amounts of the IVM, by the Board of Directors of the Social Security Administration (CCSS) in 2005, so that, as of January 2020, instead of applying...

January 20, 2020
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17Jan

Piñera’s proposal fuels debate on low pensions in Chile

The controversy over low pensions in Chile, the most serious problem identified by the protesting social movement, has increased after President Sebastian Piñera announced changes to the country's pension system. The Chilean president announced on Wednesday evening that he would submit this week a bill to Congress seeking to improve all pensions and, especially, those of women, the middle class and dependent elderly. Piñera said this bill represents a 'structural change,' with a system based on State, worker and...

January 17, 2020
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16Jan

Public sector salaries and pensions rise in Uruguay

The Uruguayan government reported today that it decreed a salary increase of 8.7 percent for civil servants, whereas pensioners will receive similar benefits from this year. According to the presidential decree approved by the Council of Ministers, the specific figure is in line with inflation, to maintain real wages. Other data from the National Statistics Institute indicate that since 1998, civil servants of the central government have received the highest average pay rise, of nearly 40 percent. On the...

January 16, 2020
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16Jan

Chile’s Pinera proposes reform of pension system that has fueled protests

Chilean President Sebastian Pinera said on Wednesday that he will send a bill to Congress this week to reform the country’s pension system, which leaves many retirees living in poverty and has been one of the main complaints of protesters in months of demonstrations. Read Also Piñera’s proposal fuels debate on low pensions in Chile In a radio and television broadcast, Pinera said he will propose a 6% increase in the pension contribution per worker. Chile’s pension system is a...

January 16, 2020
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09Jan

Estonia. Public ill-informed about pensions and retirement: Research

According to recent market research, awareness among the Estonian public about the impending pension reform is low, with many not knowing key facts surrounding the move to make the so-called second pillar, referring to employee contributions to pension schemes, voluntary, where it had previously been mandatory for most wage earners. This was particularly the case among young people, with higher awareness recorded among those aged over 55, as well as professionals, according to the survey commissioned by pollsters Turu-uuringute on...

January 9, 2020
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09Jan

Solving Chile’s Crisis Starts With Fixing Its Pension System

BY JORGE HEINE Protesters cite the Pinochet-era retirement scheme as their top grievance. Fixing it will mean a return to basic principles of social security. As Chile’s protests continue into the new year, it is important to understand the reasons behind the public’s frustration – and for policymakers to come up with ways to address it. In that, no issue is more important than Chile’s private pension scheme, singled out in opinion polls as the most important issue for...

January 9, 2020
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December 2019

31Dec

The Collapse of the Models. Re-shaping Social Protection in Europe and Latin America

The 2010-decade was a challenging period for the world. Latin America’s economy was doing relatively well at the beginning of the decade. However, the region’s economy is stagnated. Read also Colombia’s Pension Reform Hampered By Political Tension The European Union has been struggling too. Besides economic stagnation, right-wing populist candidates have been on the rise. The populists’ slogans on preserving national identity and tackling uncontrolled immigration have gained traction. Read also Greek government planning pension rises for 450,000 recipients Further, the...

December 31, 2019
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