2 03, 2020

France invokes clause to push through pension reform

2020-03-02T15:00:13-08:00March 2nd, 2020|Categories: Pension Reform|Tags: , |

French Prime Minister Edouard Philippe has said the government invoked a special clause in the country’s Constitution to push through a controversial pension reform plan without a parliamentary vote. Speaking at the Lower House of Parliament, Philippe on Saturday announced his decision to use Article 49-3 to make into law the government’s pension reform bill, reports Xinhua news agency. The French goverment has planned to replace the current pension system of 42 regimes by a point-based single one with [...]

29 01, 2020

Thousands protest as Macron’s government adopts pension reform plan

2020-01-29T08:09:56-08:00January 29th, 2020|Categories: Pension Reform|Tags: |

France’s hardleft trade unions on Friday threatened industrial action for months to come, as they searched for a way to force President Emmanuel Macron to ditch the biggest overhaul of the country’s pension system since World War II. After a brief respite from a seven-week strike that extended over the Christmas period, French unions called for major shutdowns and demonstrations on Friday to show their “determination” to halt Macron’s pension reform plan. The call came as Prime Minister Edouard [...]

10 01, 2020

At the Heart of France’s Long Strikes, a Fight Between the Haves and the Have-Nots

2020-01-10T14:05:06-08:00January 10th, 2020|Categories: Pension Reform|Tags: |

A bright red tapestry featuring the Cuban revolutionary Che Guevara over the words “Onward toward victory!” exhorts strikers not to give up, in the union’s dingy local headquarters. Outside, the local’s boss shouted through a megaphone at the Gare de Lyon train station: “The rich should never forget: There will always be the sweat of the poor on their money!” The transportation strike against the French government’s pension overhaul plan is already the longest in the country’s history. As [...]

10 01, 2020

Pensions Schemes Bill introduced to House of Lords

2020-01-10T09:00:00-08:00January 10th, 2020|Categories: Pension Reform|Tags: , |

The Pensions Schemes Bill, originally confirmed in the Queen’s Speech on 14 October 2019, and reintroduced on 19 December 2019, has been introduced to the House of Lords this week. The Commons Library Briefing, published on 7 January 2020, stated that the introduction of the Pensions Schemes Bill, which will replace the Pension Schemes Act 2015, reflects the fact that the UK workplace pensions framework enables employers to offer only either defined benefit (DB) or defined contribution (DC) schemes. [...]

3 12, 2019

GOP Leaders’ Pension Proposal is a Tax on Retirees

2019-12-03T15:33:10-08:00December 3rd, 2019|Categories: Pension Reform|Tags: , |

IAM International President Robert Martinez Jr. issued the following statement regarding the proposal by U.S. Sens. Chuck Grassley (R-La.) and Lamar Alexander (R-Tenn.) addressing the multi-employer pension plan crisis: “Proponents of this plan can call it whatever they want, but it is nothing more than a tax on one of our most vulnerable groups—senior citizens. The proposal would take a sledgehammer to the hard-earned pensions of millions of Americans. Instead of putting forward a good-faith attempt to fix our [...]

27 11, 2019

University strike: tens of thousands of staff walk out across UK

2019-11-27T08:17:42-08:00November 27th, 2019|Categories: Pension Reform|Tags: , , |

Universities across the UK are facing widespread disruption after tens of thousands of lecturers and other staff walked out on strike in protest over pay cuts, increased pension costs and deteriorating conditions. Union leaders reported a strong show of support on Monday for the industrial action, which will last eight days and could extend into the new year with a second wave of strikes if staff demands are not met. Pickets had been set up at 60 universities that [...]

23 10, 2019

Brazil’s Bolsonaro heralds ‘great day’ as Senate approves pension reform

2019-10-23T14:11:54-07:00October 23rd, 2019|Categories: Pension Reform|Tags: , |

Brazil's President Jair Bolsonaro on Tuesday hailed the Senate's approval of a sweeping overhaul of the nation's pension system as a launch pad for the wider economy, although voting on the last few remaining amendments was delayed to the following day. Pension reform is seen by the government and many economists as crucial to stabilizing Brazil's public finances and restoring business confidence, conditions they say will lead to stronger and more sustainable growth in Latin America's largest economy. The [...]

5 06, 2019

The SECURE Act – A Primer on the Top Six SECURE Act Changes that could be coming to Retirement Plans Next Year

2019-06-05T10:19:42-07:00June 5th, 2019|Categories: Pension Reform|Tags: , |

The SECURE Act (the “Act”) passed the House with bipartisan support and is on its way to the Senate with predictions that it could end up on the President’s desk by the end of the year. Here are some highlights of this potential legislation. 1. Longer Life means Later Mandatory Distributions. To account for increases in life expectancy, the Act would increase the age for required minimum distributions from 70 ½ to 72. The Act will also repeal the [...]

30 05, 2019

New Bill Would Conduct the Largest Investigation of Private Pensions in 40 Years

2019-05-30T14:16:16-07:00May 30th, 2019|Categories: Pension Reform|Tags: , , |

Bipartisan US senators are proposing legislation in an effort to secure workers’ retirement benefits in the long run, through the formation of a new retirement commission that would guide private retirement plans to a more sustainable future. Coined the Federal Retirement Commission Act, Sens. Todd Young, an Indiana Republican, and Cory Booker, a New Jersey Democrat, would create a group responsible for reviewing private benefit programs and submitting to Congress recommendations on how to improve or replace the programs. [...]

24 04, 2019

Brazil pension reform is constitutional, congressional committee votes

2019-04-24T10:47:44-07:00April 24th, 2019|Categories: Pension Reform|Tags: , |

Pension reform in Brazil cleared a congressional hurdle late on Tuesday after a lengthy and tumultuous debate, a sign that the government was finally building support for its most important economic reform, but which may face a steep climb ahead. The Constitutional and Legal Affairs Committee (CCJ) in the lower house of Congress approved the constitutionality of a reform bill by 48 votes to 18, paving the way for analysis and discussion by a special commission. However, that optimism [...]

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