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  #261  
Old 02-13-2018, 06:30 PM
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Mary Pat Campbell
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UNITED KINGDOM

https://www.rt.com/uk/418579-state-p...veloped-world/

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Britain pays out the worst state pension in the developed world
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The UK pays retirees the worst state pension of any country in the developed world, official figures show, as Brits currently under the age of 30 are warned they could have to wait until they’re 70 to receive anything at all.
The basic payout of 122.30 a week in Britain is the least generous in the West — worth just 29 percent of average earnings, according to the latest figures from the Organisation for Economic Co-operation and Development (OECD).

The report shows that in Poland the state pension is equivalent to 39 percent of average earnings, while Germany and France offer 51 percent and 75 percent respectively.

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Job centre, UK. Chris Winter / Global Look PressUniversal Discredit: How Britain’s welfare system is actually plunging people further into poverty
The Netherlands, Portugal, Italy and Austria all pay state pensions equivalent to more than 90 percent of average earnings. In Mexico, an emerging rather than developed economy, pensioners receive 29.6 percent of average earnings from the state.

The Government Actuary’s Department has projected that unless action is taken the state pension fund will run out in 2035 thanks to the strain caused by Britain’s ageing population.

It has also predicted that the state pension age will reach 70 by the end of the 2050s, and 71 by the end of the 2060s, affecting those in the UK currently under the age of 30.

Malcolm McLean, of retirement specialists Barnett Waddingham, told the Express the qualifying age could rise even more. “It wouldn’t surprise me to see the age go up to 70 before 2050 and conceivably reach 80 or even 85 by the end of the century.”

Former pensions minister Ros Altmann has also warned the situation could get even worse. Altmann told the Telegraph: “Despite the UK offering the lowest state pension in the developed world, the costs have not yet been brought under control. Policymakers face difficult decisions and are likely to need to increase the state pension age further.”

She added that with an ageing population and the decline in generous, final-salary type pension schemes, the UK “faces rising risks of old-age poverty.”

“Beyond the 2030s, the new state pension will be lower than the old system for most people. The lowest paid, predominantly women, will lose out significantly,” she said.


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  #262  
Old Yesterday, 04:34 PM
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Mary Pat Campbell
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BRAZIL

https://www.reuters.com/article/us-b...-idUSKCN1G31VQ

Quote:
Brazil government acknowledges pension bill going nowhere

Spoiler:
BRASILIA (Reuters) - Brazil’s political affairs minister Carlos Marun said on Monday that passage of a bill to overhaul the country’s costly social security system has effectively ground to a halt in Congress and would become a campaign issue in this year’s election.

FILE PHOTO: Armed Forces members patrol in Jacarezinho slum during an operation against drug gangs in Rio de Janeiro, Brazil January 18, 2018. REUTERS/Ricardo Moraes/File photo
Marun spoke to reporters after the head of the Senate, Eunicio Oliveira, said the federal government’s military intervention in Rio de Janeiro would, by the rules of the country’s constitution, block any vote on pension reform or any other measure requiring a constitutional amendment.

But Marun acknowledged what President Michel Temer’s critics believe is the real reason for holding up a pension vote: the unpopular bill never gained enough support and the government faced certain defeat.

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“We don’t have the votes. I couldn’t guarantee we would have the votes by the end of February,” he said. That was the government’s deadline for passing the bill before lawmakers turned their attention to securing their seats in the October general election.

Pension reform is the cornerstone policy in Temer’s efforts to bring a bulging budget deficit under control. Generous pension benefits and early retirement have turned social security into the main driver of a deficit that cost Brazil its investment grade.

Marun, the cabinet minister charged with mobilizing coalition support in Congress, said pension reform would become a key issue in the election campaign if Congress did not take it up again.

The legislation to streamline social security, which required amending the constitution, was lined up for a first vote in the lower house of Congress this week.

But on Friday the government ordered the army to take over command of police forces in Rio de Janeiro state in a bid to curb violence driven by drug gangs, an intervention that blocks any constitutional changes during its duration.

Temer decreed the Rio intervention through Dec. 31, his last day in office.


https://www.reuters.com/article/braz...-idUSE6N1JU01F

Quote:
Brazil's Senate head says Rio military intervention blocks pension vote
Spoiler:
BRASILIA, Feb 19 (Reuters) - Eunicio Oliveira, the head of Brazil’s Senate, said on Monday that the federal government’s military intervention in Rio de Janeiro would, by the rules of the country’s constitution, block any vote on pension reform or any other measure requiring a constitutional amendment.

President Michel Temer last week ordered Brazil’s army to take command of all security forces in violent Rio de Janeiro state. Temer argued that he could “lift” that decree for a few hours to allow congress to vote on pension reform. Oliveira disagreed, saying no vote would go forward. Temer is counting on pension reform to bring the deficit under control. (Reporting by Mateus Maia; Editing by Alistair Bell)


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