Ruth Brunn finally said yes to marijuana. She is 98. She pops a green pill filled with cannabis oil into her mouth with a sip of vitamin water. Then Ms. Brunn, who has neuropathy, settles back in her wheelchair and waits for the jabbing pain in her shoulders, arms and hands to ebb. “I don’t feel high or stoned,” she said. “All I know is I feel better when I take this.” Ms. Brunn will soon have company. The nursing home in...

Companies could offer less generous pensions under government proposals

The government is proposing to allow businesses to remove the link between retirees’ pensions and the retail price index (RPI), in a move that could alleviate the pressure on the UK’s drastically underfunded defined benefit (DB) pensions regime. The plans – contained in a new green paper published by the Department for Work and Pensions – are likely to prove controversial, with one estimate claiming they could cost the average employee £20,000 over the course of their retirement. The move could...

Moody’s: German regional governments’ pension reserves keep costs at sustainable level

German regional governments' pension credit risk is moderate due to their ability and demonstrated willingness to ensure sustainability, Moody's Public Sector Europe (MPSE) said in a report published today. Furthermore, the decision to build reserves to mitigate the expected rise in pension costs will keep annual payments at a sustainable level. The report, "German Regional Governments -- Small Pots, Big Impact - Pension Reserve Funds To Alleviate Budgetary Pressure", is available on www.moodys.com. Moody's subscribers can access the report using...

China stocks rebound on hopes of speedy pension fund investment; HK also up

China shares rebounded on Monday, led by wine makers and banks, after media reports said pension funds may begin flowing into the country's stock markets as early as this week. The bullish sentiment spread to Hong Kong, where the market also advanced but by a more modest margin. China's CSI300 index rose 1.1 percent to 3,457.94 points by the end of the morning session, while the Shanghai Composite Index gained 0.8 percent to 3,227.33, recouping losses on Friday. Blue chips were on...

Brexit-bashing Lords receive £500k in EU pensions a year and aren’t allowed to criticise Brussels… but won’t say so in Brexit debate

BREXIT-bashing peers are pocketing generous EU pensions which depend on them flying the flag for their Brussels paymasters. But they will not be required to declare their gold-plated income if they speak in this week’s crucial debate on Britain’s withdrawal. The EU forks out over £500,000 a year in pensions to 30 former MEPs and officials in the Lords. They include seven ex-European Commissioners who swore an oath of loyalty to Brussels that means they risk losing their pension if they attack...