The pension regulator is concerned about the portfolio rebalancing needed to align investments with age-based risk profiles, while the pension fund industry is questioning the limited discretion managers will have in setting fund strategies and making investment decisions.
Greater affiliate mobility creates new challenges for Peru’s pension fund managers
October 14, 2026 by
Pension reform is driving changes in distribution, operations, and portfolio management.
Colombia repeals AFP intl investment cap as reform timeline shifts
October 8, 2026 by
The new government has removed the 30% cap on international investments by AFPs that was introduced under President Petro, following the issuance of Decree 1490 of October 6, 2026. At the same time, calls to delay implementation of the pension reform by one year are gaining traction.
Colombia’s pension reform enters a more constructive phase
September 15, 2026 by
The Constitutional Court upholds most of the reform, while the new administration moves to repeal the 30% cap on international pension fund investments.
SP eases investment constraints under final target-date funds framework
September 8, 2026 by
After incorporating industry feedback, the Chilean regulator has broadened portfolio bands and tracking-error limits, giving AFPs greater flexibility in implementing target-date investment strategies.
The risk of renewed herding in Chile’s target-date funds
August 25, 2026 by
AFPs are calling for wider deviation bands and greater flexibility in the selection of benchmarks to ensure that performance incentives do not ultimately push managers toward overly similar investment strategies.
Peruvian pension fund members can switch to balance-based fees
August 13, 2026 by
The voluntary measure could give approximately 1.8 million members who entered the system before 2013 and did not take advantage of the original switching window the opportunity to migrate to the new fee structure.
New pension superintendent reduces lifecycle funds to ten
July 16, 2026 by
AFPs had previously warned the outgoing administration that managing 15 separate lifecycle portfolios would create significant operational challenges.
Peru moves toward a new pension portability framework
July 7, 2026 by
Beginning in September, workers will be able to transfer between Peru's private and public pension systems.
Pension reform also reshapes rules on indirect investment fees
July 2, 2026 by
Some of the new restrictions on management fees have been in force since April, while others will take effect alongside the rollout of Chile's new lifecycle funds.
