Tag: pension

Macron Says He Hears France’s Anger, but Defends Pension Law

April 18, 2023
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PARIS—French President Emmanuel Macron said Monday that he heard people’s anger over raising the retirement age from 62 to 64, but insisted that it was needed to keep the pension system afloat as the population ages. In many cities, opponents to the pension law took to the streets to bang pots and pans during Macron’s…

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France’s Constitutional Council Approves Higher Pension Age

April 14, 2023
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PARIS—France’s Constitutional Council on Friday approved an unpopular plan to raise the retirement age from 62 to 64 in a victory for President Emmanuel Macron after months of mass protests that have damaged his leadership. The decision dismayed or enraged critics of the pension plan. Hundreds of union activists and others gathered peacefully in Paris…

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Honey, Biden Just Shrunk Our Pension

March 28, 2023
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Commentary President Joe Biden recently issued his first veto since taking office on Jan. 20, 2021. Biden rejected a bipartisan bill that would have required investment fund managers to take politics out of their investment decisions and to stay focused on providing the best return to their clients as much as possible. Why should you…

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France Sees New Pension Protests, Police Brace for Violence

March 28, 2023
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PARIS—Protests and strikes against unpopular pension reforms gripped France again Tuesday, with many thousands marching and the Eiffel Tower closed and police ramping up security amid government warnings that radical demonstrators intended “to destroy, to injure and to kill.” Concerns that violence could mar the large demonstrations prompted what Interior Minister Gérald Darmanin described as…

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French President Macron Says Will Not Yield to Pension Protests

March 24, 2023
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PARIS—President Emmanuel Macron on Friday said he would press ahead with reforms, dodging a union leader’s call to suspend a new pension law amid some of France’s worst street violence in years. There were violent clashes across the country on Thursday evening on the fringes of otherwise peaceful protests that have for weeks gathered huge…

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German Pensions to Rise Again, but Slower Than Inflation

March 21, 2023
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BERLIN—German retirees’ pensions will rise significantly this summer for the second consecutive year, the government said Monday, though the increase will still fall short of the current inflation rate. The Labor Ministry said pensions will increase by 4.39 percent in the former West Germany on July 1 and by 5.86 percent in the formerly communist…

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Protests Erupt Across France After Government Forces Through Pension Reform, Raising Retirement Age

March 17, 2023
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Protests erupted across France on March 17 after French President Emmanuel Macron’s government invoked a special constitutional power allowing him to push through controversial pension reforms that raise the retirement age from 62 to 64. Thousands of people gathered in the capital Paris after French Prime Minister Elisabeth Borne announced the use of Article 49.3—which allows the government to…

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French Senate Votes for Macron’s Pension Plan, Despite New Protests

March 12, 2023
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PARIS—The French Senate on Saturday night adopted President Emmanuel Macron’s unpopular pension reform plan in the wake of a seventh day of demonstrations that were not as large as authorities had expected. One hundred and ninety-five members of the upper house of the French Parliament voted for the text, whose key measure is raising the…

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Former Central Bank Governor: Retirees Need to Fill Up Their Own Pensions

March 9, 2023
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Analyst and former governor of the Chinese central bank, Zhou Xiaochuan, admitted that China will soon face an aging society with a weak pension system. The only possible solution relies on retirees filling the gap on their own. The analyst says the real problem lies in the gigantic bureaucratic system that feeds on the entire populace….

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