Word: pensiones
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...President-elect Barack Obama moves to stem the financial crisis, the nation's largest companies are struggling with ways to handle the volatile market's toll on their pension plans...
...suburb east of Atlanta that relies on property taxes for revenue, the city has postponed a vote to annex additional neighborhoods because locals are concerned that annexation will overcrowd schools. In New Jersey, Governor Jon Corzine wants county and municipal governments to forego more than $500 million in pension payments in the coming year as a way of avoiding higher property taxes. And California and Arizona, where property values have tumbled as much as 30%, are faced with borrowing billions of dollars to cure their ailing budgets. "It's not just a problem for folks here," Lindsey says...
...Such success, however, has also had adverse consequences—what in the United States would be called a massive problem of unfunded pension liabilities. The old law permitted retirement for women at age 55 and for men at age 60. The new law increases those ages to 60 and 65, respectively. The impact of longer life expectancy on retirement plans is common in Europe and Japan. However, Cuba is different because, unlike Europe or Japan, it is a rapidly aging but poor country. Plus, unlike China, which is about to age rapidly as well, Cuba lacks a reliable economic...
...During the same session of the National Assembly, government officials announced with pride that the minimum pension, which is what many retired Cubans receive, had risen to the equivalent of $8.33 per month. True, access to health care is free, but the elderly still have to purchase medicines, which are often missing or in short supply in pharmacies and may only be purchased with “convertible pesos”—Cuban currency, equivalent to dollars or euros—used to purchase goods or services at international prices that are quoted also in euro or dollar...
...addition to their more admirable accomplishments, the French are generally considered the world champions of public protesting. Whether it's transport workers striking against tightened pension regimes, fishermen outraged by high operating costs, students battling education reform or even lawyers picketing over court closures, it seems scarcely a week goes by without some section of France's population taking to the streets. Given that, it should come as little surprise that one boisterous French group is planning a protest rally on the evening of Dec. 31 - and demanding that the world refuse to shed 2008 to make...