" #UAW has asked for 46% raises in general pay over 4yrs —an increase elevating a top-scale assembly plant worker frm $32-47/hr. In addition, the union has demanded an end to varying tiers of #wages for factory jobs; a 32-hr wk w/ 40hrs of pay; the restoration of traditional defined-benefit #pensions for new hires who now receive only 401(k)-style retirement plans; & a return of cost-of-living pay raises, among other benefits."

Forcing the toothpaste bk in the tube.
https://time.com/6312519/united-auto-workers-union-possible-strike/#

Excerpt From
These Are the Plunderers p. 287
Gretchen Morgenson & Joshua Rosner

#privateEquity #books #nonfiction #kkr #predatoryCapitalism #leonBlack #apollo #pensions #retirement
/5

These pension deals had a telling name, however. They were called “pension risk transfers,” and therein was their problem. The companies selling their pension obligations were transferring to another entity the risks associated with making these payments for years to come. A good thing for the companies, of course, but beneficial to the pensioners? Not so fast.
/4
#privateEquity #leonBlack #theseAreThePlunderers #apollo #pensions

@Monika_UK @RichardShaw

Its another bit of classic middle-class #political bias - with a reasonable occupational #pension to add to the state one (although this is a declining situation & another aspect of the #pensions crisis), then the two together can often be (for a couple especially) pretty comfortable.

If you want to see this demographic's market power - look at Saga cruises & the range of services trying to capture the 'grey pound'.

But its one more aspect of UK's #inequality problem!

Ok, boomer speaking. The UK "triple lock" on increases to state pensions is coming back to the news. Should it be reviewed?
It started with an all-party review (2006) considering poverty, longevity etc that recommended BOTH a triple lock and increases to the pension age. And sex equality too.
Let's have a new conversation about low payouts from DC schemes, poverty, ethnicity, gender and longevity. Anyone here writing a party manifesto?
#pensions #TripleLock #politicsUK
https://en.wikipedia.org/wiki/State_Pension_(United_Kingdom)

"En cette rentrée sociale, le #pouvoirdAchat et l’augmentation des #salaires, des #pensions et des #minimasSociaux sont toujours les #revendications prioritaires pour le monde du travail. La colère contre la réforme des #retraites est intacte…
Avec le mouvement syndical #européen,… pour la #solidarité, la #transitionÉcologique juste et contre les politiques d’#austérité. [appel] à une journée de mobilisations et de #manifestation le #vendredi13octobre 2023"

Appel #intersyndical dont #CFDT #CGT

#SteveBarclay wrong to say #NHS consultants get tax-free #pensions, admits #UK government - https://www.theguardian.com/politics/2023/aug/16/steve-barclay-wrong-to-say-nhs-consultants-get-tax-free-pensions-admits-uk-government

Who works out the longterm money stuff, like pensions, in your family? (Just a question from a shock discovery in our family.)
#pension #pensions #poll

What does a spinning donut and a pension calculator have in common?

#pensions #retirement #calculang #finance

https://observablehq.com/@declann/retirement-fund-heatmap?collection=@declann/calculang

Ron DeSantis taught me

Sue Bud light?
Sue Russia dummy!
#florida #gop #pensions #desantis

https://www.wfla.com/news/politics/florida-pension-fund-loses-200m-in-russian-investments-state-rep-says/

VidaCaixa, BBVA, Caser, Santander i Ibercaja gestionaran els fons de pensions públics
Les comissions de gestió que es cobraran oscil·laran entre el 0,10 i el 0,26%, conforme a les ofertes presentades per les adjudicatàries
#Política #Pensions
https://www.apuntmedia.es/noticies/economia/vidacaixa-bbva-caser-santander-ibercaja-gestionaran-fons-pensions-publics_1_1633301.html

OK, 3 possibilities here:

1. I'm missing something obvious about how this is going to boost my pension by £1000 per year

2. The way in which this reform is going to boost my pension by £1000 a year is subtle and poorly explained in the article

3. The article is talking bollocks and nobody's pension is going to be boosted by £1000 per year.

Any ideas?

#Pensions #MansionHouse #MansionHouseSpeech

https://www.gov.uk/government/news/chancellors-mansion-house-reforms-to-boost-typical-pension-by-over-1000-a-year

RT Karine Lalieux
Accord sur la réforme #pensions !
✅Introduction d'un bonus progressif pour soutenir le maintien au travail
✅mesures de protection pour les femmes face à la condition de travail effectif 💪
Et ce en plus de la revalorisation historique de la pension minimum @PSofficiel

🐦🔗: https://n.respublicae.eu/karinelalieux/status/1678243031101710336

If you're (rightly) worried about oligopolies in the UK, that the #pensions sector & specifically #annuities provision, has been consolidating over the last three or so years may be of some concern;

as pension funds (especially this year with rising #interestrates) have found themselves with healthier asset endowments to fund liabilities, so they have taken the chance to offload the liability to a small group of #insurers.

How consolidation will play out is less clear as yet.

h/t FT

https://www.itfglobal.org/en/news/railway-workers-in-pakistan-show-victory-possible-even-in-times-crisis

#Pakistan: #RailWorkers block tracks, win #strike

"not a train moves without railway workers; it is time to treat these workers - in terms of pay, #pensions, and conditions - with the #dignity that they deserve."

#strikes #union #unions #UnionStrong

"UK pension funds still holding £88bn in fossil fuels, despite increased climate commitments"

#Pensions #Finance #FossilFuels

https://www.edie.net/uk-pension-funds-still-holding-88bn-in-fossil-fuels-despite-increased-climate-commitments/

"Public Pension Funds Have Lost Billions on Their Fossil Fuel Investments: New Analysis"

#Pensions #Finance #FossilFuels

https://www.desmog.com/2023/06/27/public-pension-funds-lost-billions-on-their-fossil-fuel-investments/

Loss of #FossilFuel assets would not impoverish general public, study finds

Research allays fears that rapid scaling back of production would hit people’s #savings and #pensions hard
https://www.theguardian.com/environment/2023/jun/22/fossil-fuel-assets-loss-study
#Sustainability #ClimateCrisis #Environment #Economics

The working group formed by Mayor Brandon Johnson to tackle Chicago’s acutely underfunded pensions is set to meet for the first time this week to confront one of the major fiscal challenges facing Chicago’s new leader. #Chicago #politics #pensions #taxes https://news.wttw.com/2023/06/19/johnson-set-start-tackling-chicago-s-pension-woes-hemmed-vow-not-raise-property-taxes

BREAKING NEWS: Former Ald. Ed Burke, who left office facing federal charges, will start collecting his pension around the beginning of August. No surprise…it’s💰💵🤑. With Heather Cherone. #Chicago #politics #pensions https://news.wttw.com/2023/06/15/indicted-former-ald-ed-burke-start-collecting-more-96k-annual-city-pension-records-show