June 2022
20Jun

Gustavo Petro and Francia Márquez: A new era for Colombia

"What is coming here is real change, real change," Colombia's new President-elect, Gustavo Petro, promised his cheering supporters at his victory speech on Sunday night. As the country's first-ever left-wing leader - with a running mate, Francia Márquez, who will become the first black vice-president - Mr Petro's belief that Colombia has voted for change is hard to deny. Even before his victory, the country had voted for a departure from the status quo, with the outgoing president's nominated candidate failing...

June 20, 2022
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02Jun

Bank Of Spain Insists That Measures Are Lacking To Ensure The Sustainability Of Pensions

The governor of the Bank of Spain, Pablo Hernández de Cos, has reaffirmed his calculations on the pension system after the Minister of Social Security, José Luis Escrivá, described them as “unsophisticated”. He once again argued that the measures proposed are not enough to ensure sustainability once pensions have been linked to inflation and the sustainability factor has been eliminated: “If you add and subtract, there is a gap that has to be covered,” he said in an appearance...

June 2, 2022
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May 2022
12May

Pensions: people on lower incomes can be confused and disadvantaged by defined contribution pensions

New research released finds defined contribution (DC) pension schemes, which do not automatically offer a secure, guaranteed income for life, can lead to poor outcomes for those on lower incomes. Since the introduction of ‘pension freedoms’ in 2015, the vast majority of consumers are opting against a guaranteed income, resulting in them facing significant threats to their retirement security. Researchers from the University of Birmingham, supported by abrdn Financial Fairness Trust, conducted in-depth interviews with DC pension consumers and gained...

May 12, 2022
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04May

The post-pandemic prognosis for pension systems

Pension systems around the world faced a “stress test” during the pandemic—what you might call the “pension pandemic paradox.” Read also US. Study sheds light onto biracial, LGBTQ older adults for the first time On the one hand, there was pressure to allow access to pension savings as emergency support during a period of sharp economic downturn. This was understandable, since for many people pension savings are their biggest financial asset. But, in some countries, this turned into unprecedented access beyond...

May 4, 2022
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April 2022
19Apr

Chile’s lower house votes on dueling pension withdrawal bills

Chile’s lower house will debate and vote on two proposals for early withdrawal of pensions on Monday, one by legislators and another by President Gabriel Boric, who is seeking to juggle inflation and populist demands. Leftist legislators are proposing a 10% withdrawal but Boric and Finance Minister Mario Marcel have said it would worsen spiraling inflation. In March, Chile reported its highest monthly inflation rate – 1.9% – since 1993. According to the government, Boric’s plan represents a fifth of the...

April 19, 2022
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15Apr

Swedish regulator to screen funds for ‘green painting’

Sweden's financial regulator said it will start reviewing funds to enforce new sustainable regulations and to prevent "green painting." The Swedish Financial Supervisory Authority, or Finansinspektionen, said it will review "whether the information provided about the funds that are classified as most sustainable meets the strict requirements" of sustainable finance disclosure regulation rules implemented in March 2021. In a notice on its website Tuesday, FI said that as demand for green and sustainable funds increases rapidly, "this entails the risk of...

April 15, 2022
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How to Get Americans to Save for Retirement
08Apr

US. How to get people to save for retirement

The House voted 414-5 on March 29 to pass the Securing a Strong Retirement Act, or “Secure Act 2.0,” hailed in news reports as legislation that would “change the way Americans save for retirement” by requiring that employees be automatically enrolled in work retirement plans. Yet if enacted, Secure 2.0 would increase Americans’ annual retirement contributions by less than 0.2% in 10 years. Secure 2.0’s modest gains are thanks mostly to Republicans—who also have the biggest stake in making...

April 8, 2022
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04Apr

France. Macron and Le Pen battle over pensions as French election race tightens

With France's presidential race tightening ahead of Sunday's first round vote, favourites President Emmanuel Macron and far-right challenger Marine Le Pen battled over pension reform on Monday. Opinion polls have long predicted Macron will win a second term but Le Pen has tightened the gap, with polls showing the 44-year old president with only a six-point advantage in a likely run-off on April 24. Le Pen has benefited from a campaign focused on purchasing power on which she doubled down on...

April 4, 2022
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February 2022
25Feb

The political economy of pension reform in Argentina

Technical design for pension reform Argentina has more than two hundred different retirement bases at the national, regional, municipal and private levels. In general, subsystems other than SIPA provide a better relationship between effort to contribute during active life and perception of benefits during passive life. However, in most cases, these discrepancies do not reflect disparate risks in related work activities (strenuous, risky or unhealthy), but rather reflect the ability of these groups to achieve more beneficial rules than those implied...

February 25, 2022
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24Feb

China starts nationwide pooling of basic pension funds

China has started nationwide pooling of basic pension funds since Jan. 1 this year, Vice Minister of Finance Yu Weiping said Tuesday. Read also China to allow more pension providers The move will allow pension funds to be transfered from regions with surplus to regions with deficit, Yu said at a press conference, adding the ministry is drawing up related documents and will strengthen guidance to localities. Read also China releases 5-year plan for elderly care services Qi Tao, an official from the...

February 24, 2022
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