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  #571  
Old 10-17-2018, 01:17 PM
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Please tell me they at least had the foresight to make this temporary. They're going to regret it if not.
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  #572  
Old 10-17-2018, 01:59 PM
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Oh, I -could- tell you that.

But would you believe it?
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  #573  
Old 10-25-2018, 02:27 PM
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CROATIA

https://www.channelnewsasia.com/news...t-age-10847764

Quote:
Croatians protest over government plan to raise retirement age

Spoiler:
ZAGREB: Several thousand people protested in Croatia's capital on Saturday over government plans to raise the retirement age to 67 and cut pensions for those who retire early.

This week the government asked parliament to pass legislation lifting the retirement age of 65 from 2033 onwards, defending the reform as a step in efforts to make the pension system sustainable.

The bill also includes a proposal to cut the pensions of people who stop working before reaching retirement age by about four percent per year.

"There is a lot of misery and bitterness in us. Isn't such a retirement proposal irresponsible towards our workers and pensioners?," Kresimir Sever, one of the leaders of the trade unions that organized the protest, told the crowd gathered in central Zagreb.

Some of the demonstrators shouted "Thieves", and many held banners accusing the government of impoverishing pensioners and workers. "From school to unemployment, from work to graveyard" read one of the banners.

Workers representing metal industry employees, nurses and other professions took turns to address the rally, saying they cannot work until the age of 67.

"I work in the rain and the burning sun. My legs and back have to carry hundreds of overloaded waste bins every day. I've already had a surgery on one knee, the other one will have to be treated soon," a worker from a waste collection and disposal company, who said his name was Elvis, told the gathering.

Trade union leaders say the new law would particularly hurt older employees, who are often under pressure to retire earlier for health reasons or because the employers want to get rid of older staff. They have also pointed out that Croatians have a shorter life expectancy than people in many other European Union countries.

The unions have vowed to launch a campaign for a nationwide referendum to be called over the pension reform proposal if the government rejects their demands to scrap the plan.

For a referendum to take place, supporters of the ballot must collect the signatures of 10 percent of the electorate, equivalent to roughly 375,000 people.

Economic analysts and researchers say Croatia cannot make its pension system sustainable in the long term without increasing the retirement age.


Read more at https://www.channelnewsasia.com/news...t-age-10847764
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  #574  
Old 10-25-2018, 02:28 PM
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PRUDENTIAL SINGAPORE

https://www.businesstimes.com.sg/ban...-age-for-staff

Quote:
Prudential Singapore scraps retirement age for staff

Spoiler:
AT Prudential Singapore, age is indeed just a number.

The insurance company has removed the retirement age of 62 in its company HR policy, paving the way for its 1,100 employees to have extended careers and decide when they want to retire, if at all.

Removal of the retirement age will also allow employees to "fulfil their personal and financial aspirations", said the company, which enacted the new policy on Oct 1.

Prudential Singapore's chief executive Wilf Blackburn said that scrapping the retirement age of 62 made more sense for an ageing population which has an average lifespan of 83.1 years, and which is now nudging 100.


He noted that people who stopped work at 62 could be looking at nearly 40 years of retirement if they live to 100, adding that a long retirement period could pose financial challenges should they outlive their savings.

SEE ALSO: Prudential Singapore scraps retirement age for staff
A prolonged period of inactivity could also lead to health and social problems, Mr Blackburn said.

"With this in mind, we decided to scrap the retirement age so that our employees can continue to work in Prudential for as long as they are able to perform their jobs well. We want to empower them to decide when they want to retire, or if they wish to retire at all, rather than specify a work expiry date," Mr Blackburn said.

There are six people aged 62 and above in Prudential's employ, who are eligible for re-employment in the next five years, the firm said.

With the new policy, they can now stay on in their jobs, continue drawing the same salary as before, and be entitled to the same benefits - including medical - as all employees, Prudential said. They will still receive a retirement payout any time they choose to leave their jobs.

"There is a lot that businesses can gain by tapping on the experience and knowledge of the more mature employees. At Prudential, we see this group of employees as valuable assets and are committed to support them in extending their productive years by offering them re-skilling opportunities and flexible work schedules as we scrap the retirement age," Mr Blackburn said.

The company said that its new retirement policy was in line with the Republic's ambition to leverage its rapidly ageing workforce, and that it was introduced alongside the insurer's Ready for 100 report which "explores the readiness and aspirations of Singapore residents" to live to 100.

Luke Hee, general secretary of the Singapore Insurance Employees' Union, told The Business Times that the union, which has been in talks with management, "welcomes this enlightened move by Prudential to enable our employees to continue working for as long as they wish to". "With this initiative, the company is essentially removing any age factor to one's value in the job," he said.

Mr Hee added: "It is important to know that lifting the age bar is only one aspect of a more holistic approach in ensuring that our employees can continue to contribute to the company meaningfully. Nevertheless, it is certainly a positive step forward for both the company and employees."


https://sbr.com.sg/hr-education/news...-age-employees
Quote:
Prudential scraps retirement age for employees

Spoiler:
The statutory retirement age of 62 is quite still far from Singapore's average lifespan of 83.1.

Prudential revealed that it will be allowing its employees to work beyond the statutory retirement age of 62 as life expectancy booms in Singapore.

The company acknowledged that retirement by 62 ‘may no longer make sense’ with Singapore’s average lifespan of 83.1 given that it is approaching an ageing population which is edging towards 100, Prudential Singapore CEO Wilf Blackburn said.

“If we stop work at 62, we are looking at nearly 40 years of retirement if we live to 100,” Blackburn explained. “Such a long retirement period may pose financial challenges should you outlive your savings. Moreover, a prolonged period of inactivity may also lead to health and social problems, the CEO added.

Prudential’s new retirement policy which came into effect on 1 October was introduced on the back of the firm’s Ready for 100 report which explores the readiness and aspirations of Singapore residents to live to 100.

Prudential currently has six employees aged 62 and above who are eligible for re-employment in the next five years.

The new policy gives them the option to stay on in their jobs and be entitled to the same benefits, including medical, as all employees whilst drawing the same salary as before. Prudential noted that they will still receive a retirement payout any time they choose to leave their jobs.


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  #575  
Old 10-25-2018, 02:32 PM
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POLAND
JUDGES

http://www.latimes.com/world/la-fg-e...019-story.html

Quote:
EU court tells Poland to suspend measure lowering retirement age for Supreme Court judges

Spoiler:
The European Union's top court ruled Friday that Poland must immediately suspend politically charged measures relating to the lowering of retirement age for judges on the country’s Supreme court.

The ruling, which has the potential to further strain relations between the two, also obliges Poland to restore to their jobs those Supreme Court judges who had been forced into retirement due to having reached or passed the age of 65.


The forced retirements are part of a sweeping reform that Poland's conservative government is making to the judiciary. The government argues that the country's judiciary was not properly reformed after the end of communism in 1989 and removing justices from that era will make the justice system efficient and fairer.

Opponents say the government will use the law to appoint new judges loyal to the authorities.

Over 20 judges have been forced out.

The EU Commission, which referred the policy change to the European Court of Justice, insisted that the age cap violated the rule of law. Also Supreme Court judges referred the forced retirements to the European court, saying they went against the Polish Constitution.

Polish Prime Minister Mateusz Morawiecki said in Brussels that his government had received the court's notification and will "respond after analyzing it."

Other officials have indicated that Poland will abide by EU laws, but insisted they first need to know the details of the court's decision.


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