All articles tagged with #pension reform
France's National Assembly approved a measure to suspend controversial pension reforms, including a plan to raise the retirement age, as part of broader budget negotiations amid political turmoil and economic challenges, such as a high public deficit and government instability.
French lawmakers voted to suspend a controversial pension reform, including a freeze on raising the pension age, as part of broader budget negotiations amid political instability and economic concerns, with the move seen as a temporary measure to maintain government stability and address fiscal challenges.
French Prime Minister Sebastien Lecornu survived two no-confidence votes after promising to suspend President Macron’s pension reform, which helped him secure crucial parliamentary support amid France's ongoing political crisis and economic challenges.
French Prime Minister Sebastien Lecornu survived two no-confidence votes, allowing for a contentious debate on the budget and pension reforms amid political instability, with implications for France's economic outlook and government stability.
French Prime Minister Sebastien Lecornu survived two no-confidence votes after promising to suspend pension reform, securing crucial support from the Socialists, but the government remains fragile amid ongoing political crisis and negotiations over the budget.
French Prime Minister Sébastien Lecornu narrowly survived two no-confidence votes in the National Assembly after securing support from the Socialist Party by pledging to suspend President Macron's pension reform, amid ongoing political turmoil.
French President Emmanuel Macron will appoint a new prime minister within 48 hours to stabilize the government amid a political crisis, avoiding snap elections despite opposition from various parties and disagreements over pension reforms.
French Socialist Party leader Olivier Faure stated that there are no guarantees that the suspension of France's controversial pension reform will proceed, amid ongoing political discussions and efforts to form a budget by the end of 2025.
Emmanuel Macron's presidency faces significant challenges as his government struggles to maintain authority following a no-confidence vote that brought down Prime Minister Michel Barnier's minority government. Macron's pension reform, which raised the retirement age, remains deeply unpopular, and his reliance on a coalition with conservative and far-right elements has faltered. Marine Le Pen's Rassemblement National, despite its contradictions, has gained ground, while the left-wing Nouveau Front Populaire alliance remains a formidable opposition. Macron's political future is uncertain, with calls for his resignation and limited options for regaining a parliamentary majority.
Chancellor Rachel Reeves is proposing a major reform of the UK's pension system by consolidating 86 council pension schemes into a few large 'megafunds' to boost economic growth. The plan aims to increase investment in UK infrastructure and services, similar to pension models in Canada and Australia. While some experts support the potential for higher returns and economic benefits, critics warn of risks to savers' money and the potential neglect of smaller companies. The reform also includes setting a minimum size for private sector pension schemes to encourage consolidation.
As baby boomers reach "peak 65," the debate over the appropriate retirement age intensifies, with the U.S. facing the question of when to retire. The mandatory retirement age for airline pilots is under scrutiny, as more Americans turn 65 every day. With Social Security's full retirement age moving to 67, lawmakers are considering raising the retirement age to address the program's financial shortfall. However, this change could result in benefit cuts, affecting workers differently based on their occupation and income level. The outcome of the presidential race may influence the decision, while Congress has already raised the retirement threshold for required minimum distributions to age 73.
The French parliament has refused to vote on President Emmanuel Macron's executive decree to hike the retirement age, blocking any check or balance by the legislative branch. The judiciary also refused to challenge the decree, while unions held 15 million person marches against the unpopular pension law. The use of the 49.3 executive decree and repression of the yellow vests have led to calls for a sixth republic. The government's neoliberal agenda of austerity has sparked anger and protests, but citizens are being told to wait until the next election in 2027 to make their voices heard.
The speaker of France's parliament, Yael Braun-Pivet, has confirmed she will block an attempt to repeal a recent law raising the retirement age, which was enacted after months of protests. An amendment proposed by the small LIOT faction in parliament and backed by left-wing parties would be declared "inadmissible" on constitutional grounds. The original legislation was rammed through the lower house National Assembly without a direct vote using a controversial constitutional power that can be invoked by the prime minister.
The CGT union reported that only 300,000 people participated in nationwide protests against the French government's pension reform on Tuesday, the lowest turnout since January. However, French unions remain determined in their fight against raising France's retirement age. The government is aiming for the pension reform law to come into force on September 1 and is counting on the protests to subside. Ryanair cancelled over 400 flights due to the French strike, and Disneyland Paris staff members joined the nationwide strike.
France is set to witness its 14th day of nationwide protests against President Emmanuel Macron's pension overhaul, with left-wing forces and labour unions staging strikes to thwart the changes. The reform, which seeks to raise the pension age to 64 from 62, was signed into law in April, but opponents are still hoping to repeal it through a motion in parliament. The government argues that the changes are necessary for France's financial health, but the opposition insists that the fight against the reform "will never finish."