So the important thing to note about the state pension is that it's not an automatic right to have to full pension paid to you at retirement age.
Workers may lose part of the value of earned pension benefits or the right to continue accumulating generous benefits in their native country.
Other countries, such as Colombia, do not recognise gay marriage but do offer civil guarantees, including the right to draw a pension if one partner dies.
That means GM's pension fund managers will toss that money right back into the market.
In other words, the employees, both union and management, general and public safety, are right now paying off the pension obligation bonds.
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In summary, we encourage those involved in pension decision-making to do the right thing but we are ever mindful that anyone who does so must not expect to be rewarded in the here-and-now.
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Companies and asset managers have tended to take a laid-back approach to pension underfunding, relying on the markets to right things as they often have before.
Striking railway workers and air-traffic controllers brought France almost to a standstill on June 3rd, while several million people took to the streets across the country in protest against the centre-right government's plans for pension reform.
The challenge for governments is to get right the planning for health services, pension provision and more flexible retirement.
If it happens, the insured company has the right to sell new shares to the pension fund at a set price.
If we are right, then the true cost of pension consultant corruption is enormous and cleaning up the consulting business should be of paramount importance to the country.
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"It is a fundamental right that a worker has contributed to a pension scheme throughout their working life, " he said.
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Of course, in the early 1990s, which turned out to be the right time to buy property, most British pension funds were getting out of the sector.
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Ms Toynbee said she thought the policy of previous Tory governments of allowing the state pension to "wither on the vine" was "probably the right direction to go", and she certainly supported his consolidation idea.
Unfortunately under the applicable federal pension law (ERISA), participants generally have no express legal right to participate in the administrative and investment decisions related to the plan itself. (Of course, collective bargaining agreements may provide participants some role in such matters.) The structure of the plan, the investment menu offered, and any matching contributions are all pretty much left to the employer.
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Why assume everyone with a pension is so thick they're happy for it to be invested completely in equities, right up to the magic retirement day?
By any metric, and there's a debate over which is the right one, state and local governments haven't set aside enough money to cover pension or retiree health-benefit promises they've made to their workers.
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