January 2020

13Jan

France. French transport strike drags on despite government compromise on pensions

A crippling French transport strike dragged into its 39th day on Sunday despite the government’s offer to withdraw the most contested measure of the pension reform plans that sparked the protest. Prime Minister Edouard Philippe said Saturday he would drop plans to increase the official retirement age to 64 from 62 in an effort to end a strike which has paralyzed Paris and its suburbs, with bus, train and metro services all badly disrupted. “I am willing to withdraw...

January 13, 2020
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13Jan

Macron Scraps Proposal to Raise Retirement Age in France

Faced with an unrelenting protest over proposed changes in France’s generous pension system, officials withdraw a move to raise the full-benefit retirement age to 64 from the present 62. Read Also France. French transport strike drags on despite government compromise on pensions With tens of thousands of anti-government demonstrators once again coursing through the streets of Paris and other cities and clouds of tear gas and smashed store windows punctuating the urban landscape, the French government made a major concession on...

January 13, 2020
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10Jan

Effect of Immigration on Depression Among Older Natives in Western Europe

By: Jose Escarce, Lorenzo Rocco To our knowledge, no study has examined the effect of immigration on the health of older natives. We use the Study of Health, Ageing and Retirement in Europe (SHARE) to investigate whether immigration affects depression among natives 65-80 years old. Immigration may increase the supply and lower the price of personal and household services, a term that refers to care services and non-care services such as cleaning, meal preparation, and domestic chores. Higher consumption...

January 10, 2020
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10Jan

Demographic Obstacles to European Growth

By: Thomas F. Cooley, Espen Henriksen, Charlie Nusbaum Since the early 1990’s the growth rates of the four largest European economies—France, Germany, Italy, and the United Kingdom—have slowed. This persistent slowdown suggests a low-frequency structural change is at work. A combination of longer individual life expectancies and declining fertility have led to gradually ageing populations. Demographic change affects economic growth directly through households savings and labor supply decisions and also growth indirectly through the pension systems and the need to...

January 10, 2020
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10Jan

UK. Ombudsman reports pension scheme to TPR

The Pensions Ombudsman has reported the Green Coal Limited Occupational Pension Scheme to the Pensions Regulator with concerns over the “status of the scheme”, after upholding a complaint against it. A client dubbed Mr E complained to the ombudsman that he had not been provided with any information on his pension for a year. Previously employed by the Royal Air Force, Mr E was a deferred member of the Armed Forces Pension Scheme, which transferred £20,824 at his request in December 2013...

January 10, 2020
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10Jan

Brexit and pensions: everything you need to know

Retirement savers will have to keep an eye on state pension payouts, the value of the pound and consumer protections now the country’s exit from the European Union is imminent. After one of the most stunning political turnarounds in history, Brexit now looks almost certain to happen on Jan 31. But the question on most people’s minds will be what it all means for them and their money. Pensions will be affected in a number of ways and, like all things when it comes...

January 10, 2020
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09Jan

Nationwide protest in France over pensions as talks continue

Rail workers, teachers, doctors, lawyers and others joined a nationwide day of protests and strikes Thursday to denounce French President Emmanuel Macron’s plans to overhaul the pension system. As the government and unions pushed on with crucial negotiations about the changes, street protests were staged in Paris and other French cities, with railway strikes entering their sixth week. Read Also Critical week in frances pension reform protests The Eiffel Tower was shut as employees joined the protest movement. Paris metro traffic was...

January 9, 2020
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09Jan

FRR names supervisory board chair

FRR, Franklin Templeton, Mercer, HSBC Global Asset Management, Veritas, AllianceBernstein, Arabesque S-Ray, Eumedion, De Nationale APF, ASR, PGB, Hermes, Netspar, Sampension, Rabobank, Kempen, UBS, Aegon, LOIM Fonds de réserve pour les retraites (FRR) – The €32.6bn French sovereign investor has a new chair of the supervisory board, with Sandrine Lemery having been appointed to the position by government decree. She was the first deputy secretary general of ACPR, the prudential authority for banks and insurers, from 2013 until the beginning of January 2019. She...

January 9, 2020
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08Jan

UK. Pension reform: Reckless bosses who plunder staff pensions to face seven years in jail

Reckless company bosses who plunder staff pension schemes will be jailed for up to seven years under proposed new laws introduced in Parliament last night. The Pension Schemes Bill will also trigger major reforms revolutionising retirement planning and boosting incomes by up to seven percent a year. Ministers said the package of measures would make Britain the “best place in the world” to retire. “With this Bill, we’re pushing ahead with our revolutionary pensions agenda and delivering for the millions of...

January 8, 2020
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08Jan

Germany needs 500,000 new immigrants every year

Germany is grappling with a ticking demographic time bomb. The Local spoke with FDP politician Christian Dürr who says immigration is the key to the country's future. As a society, we are living longer – and that's a good thing. But there is a lot of debate over how to stop Germany's welfare system buckling under the pressure of an ageing population. The Local spoke with Christian Dürr, deputy chairman of the pro-business Free Democrats' (FDP) parliamentary group, who recently wrote a guest...

January 8, 2020
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