Prime Minister of Russia Promised to Increase Pensions 1.5 Times (July 17, 2012)

UK: Suicides Soar Among Elderly Britons Due to Recession (July 26, 2012)
Over the past decade, suicide incidence among Britons ages 55 years and older have increased by 12%.  Men between the ages of 45 and 54 years are the most likely to commit suicide.  Loss of jobs due to the recession may have contributed toward these suicides.  Cuts in services to aid individuals with depression need to be reassessed during this campaign season.  

Russia: The Government Tries to Redeem Pension Fund Deficit (July 16, 2012)
(Article in Russian)
Deficit of Pension fund can be redeemed shortly if to eliminate accumulation component (6%). Kremlin has admitted that resolving of the engrained problem is political temptation. Now the government has split into two groups: those who advocate elimination of accumulation component, and those who oppose it.

Russia: Fraud Artists Intimidated Pensioners (July 2, 2012)
(Article in Russian)
Authorities have initiated a criminal case against fraud artists.  Pretending to be medical workers, these fraudsters extorted large sums of money from pensioners.  They successfully collected more than 5 million rubles and cheated over 70 pensioners.

Spain: Cospedal Eliminates the Assistance to Seniors and Persons with Disabilities (June 21, 2012)
(Article in Spanish)
The Executive of Castilla-La Mancha, María Dolores de Cospedal, eliminated annual assistance of 400-750 euros to seniors and individuals with special needs.  She instituted annual assistances of only 120 euros.

Spain: 1 in 3 Older Persons Help Their Family with Their Pension (June 15, 2012)
(Article in Spanish)
As a result of the economic crisis, many individuals are unable to find work, and their retired parents are supporting them while they are unemployed.  Due to inflation and the burden of family members, the savings accounts of 70% of parents have diminished.  20% of older persons do not eat fruit, meat or fish.  Two out of every four older adults cannot maintain a comfortable temperature in their house, and 80% do not spend money on leisure or restful activities.  The president of the Observatory of Vulnerability of the Red Cross (Observatorio de Vulnerabilidad de la Cruz Roja), Josep Marqués, described the necessity of preventing a domino effect, in which the problems of the elders influence the larger society.

French Government Readying Decree on Retirement Age (June 1, 2012)
France's Premier, Jean-Marc Ayrault, is scheduled to present a decree on June 6th about restoring the retirement age to 60 years for older people who have already worked 41 years. The rollback comes with EU warnings concerning France's struggle to meet its fiscal targets. Ayrault insists that the reformed pension system will be financed by increased contributions. He also promises that the government will raise the minimum wage.

Russia: The Number of Russian Pensioners Exceeded 40 Million People for the First Time (May 15, 2012)
(Article in Russian)
Most pensioners live in Moscow, some 2.7 million people.  In the Moscow region, there are  1.9 million retired citizens and in the Krasnodar region there 1.5 million retirees. According to 2010 Census, the Russian population has decreased for the past eight years.  At present every third citizen is a pensioner.

Russia: Just Emotions (May 14, 2012)
(Article in Russian)
Following his inauguration, Vladimir Putin signed 13 decrees; however, he said nothing about pension reform. The Pension Fund budget is not balanced and the future looks troubled.  The Russian population is aging, the birth rate is going down, and the Fund’s deficit is growing.  Three possible actions could address: a) increase the pension age, b) increase taxes, and c) decrease pension payouts.  While a dialogue between the government and the society could help explain the problem, no dialogue exists, just emotions.

France: Retirement Abroad Tempting More and More French (April 30, 2012)
(Article in French)
In the past 10 years, the number of French people who live outside the Hexagon has more than doubled. Among the nearly 3 million French citizens living abroad, one third are retired. If seniors are leaving, it is for a warmer climate but especially for a cost of living generally lower than that of France. They prefer European countries such as Spain and Portugal in order to stay close to France where their family generally lives, but also because within the EU, pensioners are still covered by the French Social Security.

Europe: Woman, Pensioner and Poor (April 21, 2012)
(Article in Spanish)
One out of five women in the European Union lives in poverty. Older women tend to be hit the hardest, as their pensions are small due to the wage gap, termination of careers due to pregnancy and a greater tendency to work part-time. Budget cuts in the public sector, which notoriously employs more women than men, have also aggravated women's financial situation. A growing aging population, coupled with a large number of companies that refuse to employ women 55 and older, will certainly lead to a further increase in poor women within the European Union and possibly threaten the pension system.

France: Presidential Elections 2012: Pensions Don't Really Divide Sarkozy and Hollande (April 23, 2012)
(Article in French)
Following the first round of the presidential election, it appears that the two candidates, Francois Hollande and Nicolas Sarkozy, have made fairly similar propositions regarding pensions. The incumbent president, Nicolas Sarkozy, wants to continue its reform and to pay pensions on the first day of the month. Francois Hollande wants a return of the legal age to retire to 60 years and a full pension after 41 years.

France: Pension Possible on First Day of Month? (April 6, 2012)
(Article in French)
Nicolas Sarkozy, candidate to his own succession as French President, announced his plan to pay pensions on the first day of the month. Currently, pensioners receive their pensions on the 8th, and often find themselves short. This reform would cost 200 million euros according to him but would facilitate the daily life of 15.5 million French people. This upheaval is technically difficult to implement because to send money to pension funds in time, National Insurance would have to borrow 10 billion euros.

France: Solidarity Income / Overseas: + 1.7% (March 29, 2012)
(Article in French)
Solidarity income, specifically for people in French oversea territories, is open to those over age 55 who reside in the departments of Guadeloupe, Guyana, Martinique and Reunion, as well as in the territories of St. Barthelemy, St. Martin, St. Pierre and Miquelon, before retirement. It has just been augmented by 1.7 percent to 492.03 euros and now allows people close to retirement age and receiving minimum social assistance to withdraw permanently from the labor market in exchange for a higher allowance.

France: Controversy Over the Pension System of "Mandarins" of the Public Hospital (March 28, 2012)
(Article in French)
(Article in French)
Frédéric Bargy, president of the National Union of Doctors of University Hospitals, responded to the publication of a book dissecting the benefits, known and unknown, of top professors who teacho medicine. Last winter, Xavier Bertrand, Minister of Health, negotiated a 30 percent revaluation of the retirement pension of these teachers in the greatest secrecy. With an average pension of 4,400 euros today, it could reach 5,700 euros a month with this new measure. For the author of this book, Odile Plichon, the problem is primarily that of transparency, because the report guiding the changes was never published.

Bosnia and Herzegovina: "Too Old for the Army, too Young for a Pension" Veterans of the Bosnian War in Hunger Strike (March 24, 2012)
(Article in French)
Two years ago, 1,500 former soldiers who fought at least two years after 1995 were released and forced to take early retirement to rejuvenate the Bosnian army. Now, the Minister of Finance has decided not to pay their pensions as part of a budget cut. Describing the decision as immoral, the soldiers have begun a hunger strike outside the National Assembly in Sarajevo to voice their discontent for their rights to be respected.

Russia: Russia's Pension System Represents a Classic Pyramid Scheme (March 22, 2012)
(Article in Russian)
According to financial experts, the increase in life expectancy and the decrease in numbers of the working age population, will lead the country towards economic collapse. There is a tremendous imbalance between the generations. The increase in life expectancy of current seniors causes tax increases for the next generation.  As a result each generation pays more than the previous one, and gets more than they originally paid which is a classic pyramid scheme.  However, if the taxes are not increased for the working age population, the current pensions will be not only below the minimum standards, they will be well below the poverty line and the basic survival level.

France: Should We Update Pension Reform? (March 19, 2012)
(Article in French)
In this interview, the heads of various organizations discuss the best way to understand and use the pension reform. For Olivier Ferrand, president of Terra Nova, "It's not about going back, but about improving the reform." Director of the Copernicus Foundation Willy Pelletier argues that the country can afford to offer retirement at age 60 to all citizens. Finally, Agnes Molinié-Verdier, director of the French Institute for Research on Public Administration (IFRAP) asks for a universal pension.

France: Workers Getting More Information About Future Retirement (March 19, 2012)
(Article in French)
In France, it is sometimes difficult to know where you stand with retirement. If the system still seems too complicated after the reform, workers know more about their rights, thanks to new tools. Since January 1, 2012, the "personal situation transcript" makes it possible for most workers to check online where they stand, at any age. The "retirement information service" also offers the opportunity to meet or call an agent to discuss the situation. Finally, young workers with valid first two quarters of their insurance now receive a brochure summarizing their rights.

Spain: Protect Yourself at 65: Demand for Reverse Mortgages Grows As Pensions Decrease (March 14, 2012)
(Article in Spanish)
Starting in 2005, Spain’s banks and insurers have offered reverse mortgages, i.e. the promise of a monthly payment for life in exchange of putting up one’s home as collateral. The recipient of the loan is able to live in the home until he passes away. Elders often seek this financial arrangement to ensure a comfortable and stable retirement. Because Spanish pensions are some of the lowest in Europe, reverse mortgages are becoming the primary source of income for seniors living in Spain; in fact, the demand for reverse mortgages has increased by 10 percent in the past year. Investors often seek homeowners with properties valued at over 200,000 Euros and located in capital cities. 

Belgium: Your Pension in 5 Steps With our Pension Simulator (March 14, 2012)
(Article in French)
Belgians now receive an average state pension of 925 euros per month. This amount is even lower for independent workers who receive only 640 euros on average. Although they pay up to 40 percent of their gross revenues to the state, the government does not provide adequate pensions. Belgium citizens must now put aside money for their self-funded pension to complement the State provided pension.

Greece: Greece Identifies Retirees of Public Service (March 13, 2012)
(Article in French)
Since 2010, Greece has been subject to a draconian austerity plan to save the country from the huge public debt weighing on its finances, forcing it to dramatically reduce spending. In response, the Minister of Finance ordered a census of public service pensioners following the discovery of numerous cases of fraud. Retirees will have to identify themselves between March 15 and May 15 or they will lose their pension.

France: Women’s Pensions: Differences With Men Reduced but Persistent (March 8, 2012)
(Article in French)
On the occasion of the International Day of Women, a study by the National Institute for Statistics and Economic Studies revealed that although the gap has been reduced over the years, women's pensions are still significantly lower than men’s in France. This fact reflects the wage inequality women still face, impacting the amount of their future pensions. In 2008, women earned an average monthly pension of 833 euros (excluding pensions paid to widows), while men’s were at 1,743 euros per month.

France: Old Age Minimum: Sarkozy’s Shortcuts (March 7, 2012)
(Article in French)
The president-candidate Nicolas Sarkozy announced during his televised speech on Tuesday, March 6, his plan to add residency requirements and a minimum contribution period for non-European foreigners who would like to receive the minimum pension. They would have to prove that they have worked in the country for at least five years and lived a minimum of ten years. The minimum pension is a benefit granted to any person aged over 65 to receive an income of 742.27 euros per month.

France: Recycling, an Opportunity for Low-Income Retirees (March 5, 2012)
(Article in French)
According to sociologist and senior specialist Serge Guerin, there are three categories of elderly people needing to find a way to supplement their monthly income: the "young retirees" who after having been unemployed before the age of 50 have never found another job, "modest retirees," whose income was divided by two with retirement, and single women who have not worked regularly. One way to supplement one’s income is to get into the flea market or second-hand market, using manual know-how and creativity.

France: Retirement: Increase in Retirement Insurance Period for "Education" Extended to "Third Educator" (March 1, 2012)
(Article in French)
Those to whom the custody of a child was given by court order or by transfer of parental authority now have the option of being granted an increase of the period of retirement insurance. The prerequisite for this right is to have cared for the underage child during the first four years following its birth or adoption. This was often the role of grandparents, aunts or uncles of the child; therefore it is referred to as "third educator."

Russia: The Impossible Russian Pension (February 27, 2012)
(Article in French)
Russia has 39 million pensioners, representing over 27 percent of the population. With an average monthly pension of less than 200 Euros, most retirees are forced to keep working after the age of retirement, currently 55 for women and 60 for men. With no financial supplement, paying for rent, medicines, food and bills is barely possible. Very vague about possible reforms to come, the government has repeatedly expressed its intention to take measures to increase the retirement age, but Vladimir Putin stated in late 2011 that it was not his priority.

Lithuania: Lithuanian Pensioner Does Not Agree With Decreased Pensions to Working Pensioners (February 26, 2012)
(Article in Russian)
Lithuanian senior Vitoldas Chepulis from Palanga intends to sue the Prime Minister Andrius Kubilius after receiving a response from the European Court of Human Rights regarding his reduced pension. A few years ago, the senior’s pension was reduced, forcing him re-join the work force. However, lately his pension got reduced even more due to the fact that he is still working. How can the 71-year-old make enough money to survive if the reduced pension is not enough and when combined with salary it is still not enough due to the increased taxes?

France: Employers Must Inform Expatriated Employees of Their Pension Rights (February 23, 2012)
(Article in French)
Following a case of non-payment of contributions to the general pension system, the French Supreme Court reaffirmed in a ruling dated January 25, 2012 that employers are required to inform their expatriated employees of how to build up pension complements. In case of non-compliance with this law, the employee is then entitled to claim damages. The case concerned an employee who worked more than 20 years abroad in various subsidiaries of his company, and when he wanted to retire, found out that he had not paid into the pension scheme while working outside the territory.

Germany: Soon More Active Seniors than Retirees in Germany (February 21, 2012)
(Article in French)
Half of Germans aged 55 to 64 years of age are working. If this trend continues, the 60 to 64-age group will soon be mostly active, announced Ursula von der Leyen, German Minister for employment.  German demography has shaped this phenomenon: in 2009, the fertility rate in Germany was 1.36 children per woman, while French women have, for example, an average of 2 children. The labor shortage in Germany, and the fact that the labor market is booming, forces employers to hire older people, although there are still many misconceptions about their productivity, especially from small business owners.

Russia: Critical Need for Change in the Pension System in Russia (February 17, 2012)
(Article in Russian)
Due to the difference between seniors and the working population, in the next 10-20 years there will be a critical need to change the current pension system. To change the system in the Russian Federation, it was proposed to raise the minimum length of service to 10 years (and then gradually up to 20-25 years), as well as increase retirement age by 5 years. 

Sweden: Europe Afraid of Inability to Support Fast-Growing Elderly Population; Swedish Government Proposes a Radical Solution (February 17, 2012)
(Article in Russian)
The head of the Swedish government proposed a radical solution to the problem of the unsustainable growth in pension costs in European countries. He suggested that older people be required to work up to 75 years of age. The problem of rapid aging of Europe is well known. If nothing is done in coming decades, the pension systems in many countries will fail. A limited number of working age adults will not be able to support the economy, and in turn countries’ economies will not be able to provide proper care, food, health care and services for the elderly. Many predict a possible need to import labor forces from the developing countries; however, many think that Europe is already suffering from immigrant dominance.

European Union: Europe's Six Ideas for Safer Pensions (February 17, 2012)
(Article in French)
The European Commission has provided Member States with a series of proposals to secure their pension system and to protect European citizens from the consequences of workforce reductions. In the "White Book on adequate, safe and sustainable pensions," it explains in six key points its strategy to complement the national pension reforms.  It also calls for a raise of the retirement age.

France:  Retirement/60 Years: French No Longer Believe (February 15, 2012)
(Article in French)
A survey showed that 55% of French people no longer believe that the retirement age will be returned to 60 years old.  Some 58% think that it will soon be pushed to 65 years. Only 11% still trust that if the Left wins the 2012 presidential election of 2012, it will keep its campaign promises about it. Over 63% expect a decrease in the amount of future pensions. and only 23%. People with the highest incomes are the most worried, with 78% of executives fearing for their future income.

Sweden: NEWS ANALYSIS: Pension age controversy heats up again in Nordic region (February 10, 2012)
Swedish Prime Minister, Fredrik Reinfeldt, has advanced the idea that Swedes should work until they are 75 years old. He was part of a panel addressing how citizens could be persuaded to work longer. Prime ministers of the Nordic and Baltic countries as well as Britain’s David Cameron attended the meeting. Reinfeldt thinks that the labor market should make it possible for people to switch careers even at age 60.

UK: Women Facing Pensions Lock-Out, Says TUC (February 8, 2012)
Beginning in October, workers earning above a certain threshold who are more than 22 years of age and not already enrolled in a pension scheme, will be automatically enrolled into one unless they opt out. The government could raise the threshold income from £7,475 per year to £10,000. The Trade Union Congress says that this shift could lead to 1.8 million women missing out, as well as 500,000 male workers.

UK: Minister Proposes ‘Defined Aspiration’ Pensions (February 7, 2012)
Currently, employers who want to provide more than ‘defined contributions’ (no guarantee) plans automatically face ‘defined benefits’ regulations which are costly. ‘Defined aspiration’ is a halfway point. Both employers and employees commit to a certain cash value, rather than a level of income, from pensions.  Unions are criticizing any move to lessen the regulatory burden on employers.

Belgium: Government Will Modify Pension Reform (February 6, 2012)
(Article in French)
The pension reform of December 2011 was not unanimously welcomed and led to a general strike lasting a week. Therefore, the Belgian government decided to review the text and have it validated by social partners. The objective is to appease the discontent of the population and boost social dialogue. The most significant changes will affect the issue of early retirement; a new budget estimation of the reform will be carried out. Various unions have welcomed the news, but questions remain and will have to be answered in the coming days.
 
France: Lowering Retirement Age to 60 “A Madness” According to Sarkozy (January 30, 2012)
(Article in French)
President of the Republic Nicolas Sarkozy said in his televised speech on January 29 that the project of socialist candidate François Hollande to lower the retirement age to 60 years was “a madness," "a lie" that "would lead the country to ruin." He praised his pension reform and the law passed on November 9, 2010, noting that every single European country had changed their law and that it would raise 22 billion euros by 2017. Hollande’s proposal would cost 20 billion to the country, according to Prime Minister Francois Fillon.

UK: Don’t Blame the Economy—It’s the 1% Who Are Making Retirement ‘Unaffordable’ (January 21, 2012)
Many companies cite the combination of economic crisis and increasing life spans as justification for the demise of the pension era. However, the main enemy of private sector pensions is not public sector workers, but rather private sector directors and executives, who not only are safe from the retirement hardship but also indirectly profit from it.

France: Retirees Do Not Want to Age in Paris (January 18, 2012)
(Article in French)
Stress, noise, pollution, cost of living, these are the daily inconveniences when you live in Paris. People who worked there are therefore more likely to leave the capital for the peace and quiet of the provinces. According to the National Institute of Statistics and Economic Studies study, 50% of retirees who were born in Ile-de-France eventually leave the region in search of a better environment.  Some 12.4% of them choose the sun and the warmth of the south and settle in Provence Alpes Côte d'Azur.

Moldova: Republic of Moldova To Increase 2012 Average Pension by 18 Lei (December 3, 2011)
(Article in Russian)
Beginning April 1, 2012, the Republic of Moldova will index pensions at 7.85 percent. Indexation has factored in the growth rate of the consumer price index for 2011 (8 percent) and the growth of average wages (7.7 percent). This means that after indexing, the average retirement pension will increase by 18 lei and total 972 lei. The average disability pension will rise by 15 lei and total 780 lei.