#CHINA: Gov't To Slowly Raise Retirement Age

[world politics news]

 

China will gradually raise its statutory retirement age in the next five years to try to cope with its ageing population and buckling pension system.

Life expectancy in the country is now 78. But China's retirement age is among the lowest in the world - at 60 for men, 55 for women in white-collar jobs and 50 for working-class women.

[FULL STORY HERE]

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#ISRAEL: New Jersey Threatens To Opt From Pension Fund Over Ben & Jerry's BDS Stand

[world politics news]

Following in Arizona’s footsteps, the state of New Jersey announced Tuesday that it could divest funds from Ben & Jerry’s, along with its parent company, Unilever, over the ice cream firm’s decision to cease sales in Israeli settlements, becoming the second US state to do so.

The director of the New Jersey Division of Investment penned a letter to Unilever CEO Alan Jope earlier this month notifying him that the state’s review of Ben & Jerry’s July boycott decision reached a preliminary conclusion that the company had breached local laws requiring divestment from firms that boycott Israel.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#PERU: Congress Unanimously Overrides Pension Payout Bill Veto

[world politics news]

Peru’s Congress forced through a pension funds drawdown bill that the government had partially vetoed.

The draft legislation, which lawmakers approved by a vote of 109-0, will result in another outflow of savings from the country’s private pension fund (AFP) system.

Under the rules, members can pull out up to 17,600 soles (US$4,600). Those in favor of the plan argued that people need the funds to help mitigate the economic impact of the COVID-19 crisis. 

The economy ministry said it would propose challenging the law in the constitutional court.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#ROMANIA: Parliament Votes To Increase Pensions By 40% Ahead Of Local, Parliamentary Elections

[world politics news] 

Romania’s Parliament voted for a bill that forces an immediate 40% hike in public pensions, as opposed to a milder 14% increase proposed by the Government. Critics warn that the increase could seriously hike the nation's budget deficit in the near future.

The decision, which comes just five days ahead of the local elections on September 27 and two months ahead of the December 6 parliamentary elections, highlights the fierce battle for votes between the Social Democrats (PSD), who occasionally hold the majority in the Parliament, and the Liberals (PNL), who run the Government.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#GREECE: Parliament Approves New Austerity Measures To Win #EU Aid Package

[world politics news]

Greek parliament approved further austerity measures needed to unblock the second tranche of aid provided for under the 86 billion-euro rescue package just before the extraordinary Eurogroup meeting yesterday. The new measures addressed stabilizing the pensions system and a 3.6 billion euro tax hike.

#ROMANIA: An Early Christmas Gift, As Parliament Gives Mayors, City Officials Nationwide Fat New Pensions

[world politics news]

Mayors, Deputy mayors and city councilors across the nation got a huge Christmas gift this year, as parliament voted to give them pensions equal to 55% of their salaries, based on the number of terms they've served. 86 senators voted for the law, one voted against, and 30 senators from the National Liberal Party decided not to vote and left the room.

#THENETHERLANDS

Party Leader Resigns Parliament Over Failure to Pay Pensions [world politics news]

50Plus Party leader Henk Krol has resigned his position and his seat in parliament after it was revealed that from 2004-2007 and 2009, he failed to pay into a pension fund for employees of a newspaper he ran. His party, which advocates for seniors, often criticizes banks for "raiding pensions."