Pension News – CORPaTH

15 01, 2020

New Report Finds 40 Percent of Older Americans Rely Solely on Social Security for Retirement Income
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New Report Finds 40 Percent of Older Americans Rely Solely on Social Security for Retirement Income

Retirement

New Report Finds 40 Percent of Older Americans Rely Solely on Social Security for Retirement Income

CORPaTH2020-01-15T15:05:23-08:00January 15th, 2020|Categories: Retirement|Tags: Retirement Security, Social Security|

Only a small percentage of older Americans, seven percent, receive income from Social Security, a defined benefit pension, and a defined contribution account. Retirement income from these three sources is widely considered to be the ideal situation to ensure retirement security, particularly for the middle class. Retirees with these three sources of income are far less likely to face poverty and economic hardship. A new report also finds that a large portion (40 percent) of older Americans rely only [...]

10 01, 2020

Canadian pensions ‘envy of the world,’ OMERS chief says; Fund handles retirement of almost half a million active, retired employees
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Canadian pensions ‘envy of the world,’ OMERS chief says; Fund handles retirement of almost half a million active, retired employees

Retirement

Canadian pensions ‘envy of the world,’ OMERS chief says; Fund handles retirement of almost half a million active, retired employees

CORPaTH2020-01-10T14:09:13-08:00January 10th, 2020|Categories: Retirement|Tags: canada, Ontario, Ontario Municipal Employment Retirement System|

The new head of Ontario Municipal Employment Retirement System is feeling pretty confident about the pension fund's ability to find pockets of value this year. "The Canadian pension plans are the envy of the world in so many ways," Blake Hutcheson said in an interview with BNN Bloomberg. "It's been made OK to own platforms and buy and scale companies, giving us tremendous competitive advantage. It's been made OK to put teams together and pay them properly to compete [...]

10 01, 2020

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

Pension Reform

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

CORPaTH2020-01-10T14:05:06-08:00January 10th, 2020|Categories: Pension Reform|Tags: french protests|

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
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Pensions Schemes Bill introduced to House of Lords

Pension Reform

Pensions Schemes Bill introduced to House of Lords

CORPaTH2020-01-10T09:00:00-08:00January 10th, 2020|Categories: Pension Reform|Tags: Pensions Schemes Bill, uk|

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. [...]

27 12, 2019

Congress Saves Coal Miner Pensions, but What About Others?
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Congress Saves Coal Miner Pensions, but What About Others?

Pension Funding

Congress Saves Coal Miner Pensions, but What About Others?

CORPaTH2019-12-27T15:25:56-08:00December 27th, 2019|Categories: Pension Funding|Tags: coal miner pension, congress|

The $1.4 trillion spending bill passed by Congress last week quietly achieves what a parade of select committees and coordinating councils could not: rescue a dying pension fund that is the lifeblood of nearly 100,000 retired coal miners. For the first time in 45 years of federal pension law, taxpayer dollars will be used to bail out a fund for workers in the private sector. And now that there’s a precedent, it might not be the last. “We could [...]

23 12, 2019

How do French pensions compare to the rest of Europe?

CORPaTH2019-12-23T10:16:37-08:00December 23rd, 2019|Categories: Pension Funding|Tags: france|

Proposals to change the French pension system have provoked mass strikes across France, bringing some parts of the country to a virtual standstill. But just how good do the French have it when it comes to pensions? French unions have called the current strikes in response to a proposal by the government to reform the country's current pension system. The government says its reforms are largely about fairness and transparency - at the moment France has 42 different pension [...]

5 12, 2019

France strikes: Unions protesting pension reform disrupt transport, shutter schools and force Eiffel Tower to close
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France strikes: Unions protesting pension reform disrupt transport, shutter schools and force Eiffel Tower to close

Pension Funding

France strikes: Unions protesting pension reform disrupt transport, shutter schools and force Eiffel Tower to close

CORPaTH2019-12-05T16:20:58-08:00December 5th, 2019|Categories: Pension Funding|Tags: france, strikes|

Crippling strikes began in France on Thursday in response to President Emmanuel Macron’s plans to overhaul the retirement system. Transport unions led the protests and were joined by air traffic controllers, teachers and health workers. As a result, 90 percent of high-speed TGV trains did not run. The Eurostar train service — connecting Paris, London, Brussels and Amsterdam — announced significant cancellations. Air France and British budget airline easyJet said they were axing flights. Meanwhile, many schools were closed, and [...]

4 12, 2019

AFL-CIO Condemns GOP Multi-Employer Pension Proposal
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AFL-CIO Condemns GOP Multi-Employer Pension Proposal

Multiemployer Plans

AFL-CIO Condemns GOP Multi-Employer Pension Proposal

CORPaTH2019-12-04T09:22:56-08:00December 4th, 2019|Categories: Multiemployer Plans|Tags: multiemployer plans|

The AFL-CIO’s pension panel has roundly condemned proposals made by two leading Senate Republicans to shore up the nation’s endangered multiemployer pension funds that would cut benefits by up to 19%. The federation’s Retirement Security Working Group said Dec. 2 that the proposals contained in a white paper released Nov. 20 by Finance Committee chair Charles Grassley (R-Iowa) and Sen. Lamar Alexander (R-Tenn.), chair of the Health, Education, Labor and Pensions Committee “will not only injure the retirees and [...]

3 12, 2019

GOP Leaders’ Pension Proposal is a Tax on Retirees
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GOP Leaders’ Pension Proposal is a Tax on Retirees

Pension Reform

GOP Leaders’ Pension Proposal is a Tax on Retirees

CORPaTH2019-12-03T15:33:10-08:00December 3rd, 2019|Categories: Pension Reform|Tags: butch lewis act, iam|

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

Pension Reform

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

CORPaTH2019-11-27T08:17:42-08:00November 27th, 2019|Categories: Pension Reform|Tags: pensions, uk, university staff strike|

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 [...]