Retirement Age Archives - Page 7 of 20 - Pension Policy International

31MarMarch 31, 2023

The economic — and political — consequences of reforming France’s pensions

Earlier this month, French President Emmanuel Macron followed through on his long-touted promise to reform the country’s pension system, raising the retirement age from 62 to 64. How he did it though — essentially forcing the legislation through without a vote in the lower house of parliament — hit a nerve. Since then, over a million people have taken to the streets across France; social media has been filled with images of uncollected garbage piling on the streets of Paris...

March 31, 2023

NewsFrance, Pension Reform, Retirement Age

31MarMarch 31, 2023

UK confirms delay in lifting of state pension age to 68

The UK government has confirmed it will not bring forward a rise in the state pension age to 68, saying a review of the policy will be delayed until after the next general election. The state pension is at present 66 for men and women, rising to 67 from 2026. It had been due to gradually rise to 68 from 2037, under plans first announced by ministers in 2017. But Mel Stride, work and pensions secretary, told MPs on Thursday that...

March 31, 2023

NewsRetirement Age, UK

31MarMarch 31, 2023

Chinese cities are so broke, they’re cutting medical benefits for seniors

China's government, strapped for cash after years of enforcing a costly zero-Covid policy, is cutting medical benefits and planning to raise the retirement age, in deeply unpopular moves that are fueling widespread public anger. Thousands of elderly people have been taking to the streets since January to protest big cuts to monthly medical benefit payments. They've gathered in four major cities across the country, demanding local officials reverse the decisions. The changes are part of a national overhaul mainly intended to...

March 31, 2023

NewsChina, Healthcare, Retirement Age, Social Security

30MarMarch 30, 2023

Czechs protest government bid to raise retirement age

Czech labor unions on Wednesday joined with opposition parties to protest the government's proposed bid to raise the retirement age by four years to 68. Some 2,000 protesters gathered Wednesday in front of government offices in the capital Prague to voice their opposition to the plan. “We definitely don't agree,” read a letter ratified at the gathering. “We will defend ourselves,” Roman Durco, the head of the KOVO labor union group that organized the rally told the angry crowd. Labor and Social...

March 30, 2023

NewsCzech Republic, Retirement Age

22MarMarch 22, 2023

UK. Ministers reportedly scrap plan to bring forward rise in UK state pension age

Ministers have reportedly delayed plans to bring forward a rise in the state pension age amid falling life expectancy in the UK. The state pension age, which is currently 66, was due to rise to 68 after 2044 but reports earlier this year suggested ministers had planned to bring the increase forward to between 2037 and 2039. However, the Financial Times has reported ministers have decided to delay making a decision until after the next general election because of fears about...

March 22, 2023

NewsRetirement Age, UK

21MarMarch 21, 2023

France’s government survives no-confidence votes as pension reforms move ahead

Parliament adopted a divisive pension bill Monday raising the retirement age in France from 62 to 64, after lawmakers in the lower chamber rejected two no-confidence votes against the government. But the bill pushed through by President Emmanuel Macron without lawmakers' approval still faces a review by the Constitutional Council before it can be signed into law. The council has the power to reject articles within bills but usually approves them. The first no-confidence motion, proposed by a small centrist group...

March 21, 2023

News2023, France, Pension Reform, Retirement Age

17MarMarch 17, 2023

Pension Tax Limits

By Gov.UK Individual members of registered pension schemes who make annual pension contributions over the standard annual allowance (AA), money purchase annual allowance (MPAA), or tapered annual allowance (tapered AA), and who therefore expect to become subject to an AA charge. Individual members of registered pension schemes who already have or expect to have pension savings exceeding either the standard lifetime allowance (LTA) or their protected LTA, and who therefore expect to become subject to an LTA charge. Scheme administrators of registered pension schemes who will need to...

March 17, 2023

Books, Books, Regulation2023, Retirement Age, savings, Taxation, UK

17MarMarch 17, 2023

The Health-Consumption Effects of Increasing Retirement Age Late in the Game

By Eve Caroli, Catherine Pollak & Muriel Roger Using the differentiated increase in retirement age across cohorts introduced by the 2010 French pension reform, we estimate the health-consumption effects of a 4-month increase in retirement age. We focus on individuals who were close to retirement age but not retired yet by the time the reform was passed. Using administrative data on individual sick-leave claims and non-hospital health-care expenses, we show that the probability of having at least one sickness absence...

March 17, 2023

Articles, Pension design2023, Pension Reform, Retirement Age

17MarMarch 17, 2023

Macron puts his government at risk with decision to raise the retirement age in France

French President Emmanuel Macron imposed a highly unpopular bill raising the retirement age from 62 to 64 on Thursday by shunning parliament and invoking a special constitutional power. Lawmakers were shouting, their voices shaking with emotion as Macron made the risky move, which is expected to trigger quick motions of no-confidence in his government. Riot police vans zoomed by outside the National Assembly, their sirens wailing. The proposed pension changes have prompted major strikes and protests across the country since January....

March 17, 2023

News2023, France, Pension Reform, Retirement Age

16MarMarch 16, 2023

UK abolishes tax threshold on pension allowance to encourage people to work longer

British finance minister Jeremy Hunt on Wednesday said he would abolish the tax thresholds high earners face when they invest in pensions, in a bid to encourage them to keep working and reduce the number of people taking early retirement. Hunt said in his annual budget that he would scrap the so-called lifetime allowance, which had meant that people faced a 25% levy if they saved around 1.1 million pounds ($1.33 million)in their pension pots. The capped amount of money that...

March 16, 2023

NewsRetirement Age, savings, Taxation, UK

March 2023