Posts tagged as pension reform

Estonian SEB: Aim of pension reform should be feeling of security in future

Wednesday, October 21, 2020

Head of the Estonian branch of SEB Life and Pension Baltic Triin Messimas said that the aim of a pension reform should be foremost to ensure the feeling of future financial security of the people. “This requires greater trust in the system’s functioning, its stability and sustainability. Foremost, I invite the parties involved to discuss the aspect of making the accumulation and payout solutions more flexible,” Messimas said on Tuesday.…

Estonia: 20 percent of people to withdraw money from second pillar

Wednesday, October 21, 2020

The results of the monitoring of Kantar Emor’s pension reform in October show that 51 percent of people who joined the second pillar intend to continue but 21 percent of respondents plan to withdraw their money. Those who would withdraw the money said they would mainly use it to repay loans or for home-related expenses, such as repairs. The aggregate data, which questioned more than 8,100 Pillar II users, showed…

Estonian president signs pension reform bill

Tuesday, October 20, 2020

President Kersti Kaljulaid has promulgated a controversial bill which reforms the Estonian pension scheme, after her Supreme Court appeal on the law was rejected. “It is the duty of the head of state in the Republic of Estonia to see to it that our legislative practice was in the constitutional track. One goes to the Supreme Court not to win or lose, but to achieve legal clarity,” the president said…

France braces for intense protests over Macron’s intended pension reform

Friday, December 6, 2019

France shaken by this decade’s biggest protests in which trade unions urge other residents to oppose French President Emmanuel Macron’s intended pension reform. During protests on Thursday, 5 December, public transport operations slowed to a halt, schools closed down and waste management ceased. Only one out of ten flights operate. Eurostar and Thalys have cancelled at least half their flights connecting Paris with London and Brussels. The French government has…

Estonian Finance ministry received substantial pension reform feedback

Saturday, November 9, 2019

Feedback and comments on the draft bill to remove the mandatory membership of the so-called second pillar of the Estonian pension scheme has been coming in thick and fast from the banking sector and also the tax authority, according to ERR’s online Estonian news. The draft was issued only last Wednesday, by the finance ministry, with just a week’s turnaround time (i.e. by midnight on Wednesday, Nov. 6) for feedback.…

Bank of Estonia warns against pension reform consequences

Tuesday, October 15, 2019

The Bank of Estonia, presenting its initial effects analysis regarding Estonia’s planned pension reform on Monday, pointed out several ways the government’s plan of making the second pillar of pension voluntary could backfire. Politicians pushing the reform describe the analysis as nothing new. The analysis presented yesterday, the full version of which the central bank promises to publish in late October, concludes that potentially lower future pensions could force politicians…

Protests against pension reform in Belgium (Video)

Tuesday, October 2, 2018

Thousands of people have participated in an “Action Day” in Belgium, organized by the unions. At rallies across the country, participants protested against the planned pension reform. The federal government wants to raise the retirement age to 67. You can’t work after the age of fifty in some jobs, this man says. Standing at a production chain, physically it’s not tenable. The unions also claim a raise of pensions. Paying…

Mass pension protests held in Russia, police arrests hundreds

Monday, September 10, 2018

In Russia, mass protests against planned pension reform have been held, where over 800 people have been detained, according to a detention monitoring organisation. Canadian-British news agency Reuters reports on Monday, September 10, that video and photo footage of the protests, which were held in more than 80 towns and cities, showed the police sometimes using force to disperse rallies, beating participants with batons and dragging them away. The city…