From Bloomberg News | The Illinois General Assembly recessed until early January without acting on a $3.7 billion bond proposal to make payments into state employee pension funds, saying it didn’t have enough votes to pass the bond plan.
Inside these posts: Retirement age
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Country lowers retirement age to 58
Bucking a global trend, leftist-led Bolivia is lowering its retirement age and nationalizing its pension funds. Bolivia’s Congress approved legislation early Friday to make Bolivians eligible for full pensions at age 58. The country’s 70,000 miners will get to retire two years earlier. Get the full story »
French up ante in fight over later retirement
Arcelor Mittal steel workers protest pension reforms that would delay retirement until age 62, in Marseille, France. (Jean-Paul Pelissier/Reuters)
French trade unions began a fresh wave of strikes against pension reform on Tuesday, testing the resolve of President Nicolas Sarkozy’s government as the unpopular bill edges closer to becoming law.
Rail services, flights and sea ports ran below capacity as the unions kept up their battle against a plan to make people work longer for their pensions, including raising the minimum retirement age to 62 from 60. Get the full story »
EU chief calls for 70 as retirement age
The European Union’s executive says Europeans should not retire before 70 to save cash-strapped state pension funds.
In a paper to be published Wednesday, the European Commission says four workers’ contributions to state pensions help support two retirees. Get the full story »
