Country lowers retirement age to 58

[Judi Lynn]

Country lowers retirement age to 58
By Associated Press
Posted today at 11:52 a.m.

Bucking a global trend, leftist-led Bolivia is lowering its retirement age and nationalizing its pension funds. Bolivia’s Congress approved legislation early Friday to make Bolivians eligible for full pensions at age 58. The country’s 70,000 miners will get to retire two years earlier.

The previous retirement age was 65 for men and 60 for women.

Bolivia’s decision to lower its retirement age runs counter to a global trend to raise retirement ages as life expectancies rise, birth rates drop and national treasuries come under strain from pension obligations. France raised its minimum retirement age to 62 last month — full benefits aren’t available now until 67 — while Greece is drastically cutting back early retirement opportunities.

President Evo Morales had pushed hard for the pension reform law, which also brings the landlocked Andean nation’s pension system under state control and extends pension protection to the 60 percent of Bolivians who work in the informal sector and currently lack pensions.

More:
http://chicagobreakingbusiness.com/2010/12/country-lowers-retirement-age-to-58.html

[Billy Burnett]

1. Good for them.

:applause:

This thread is an unreccers dream. ;)

[naaman fletcher]

3. 58? yes good

But why not making 48 so it's even better?

[social_critic]

7. LOL

Stop being sarcastic. The idea is to act, be popular, and worry about the consequences later.

[Judi Lynn]

4. All our threads are, as it seems!

http://profile.ak.fbcdn.net.nyud.net:8090/hprofile-ak-snc4/hs622.snc3/27526_113501911994364_6625_q.jpg http://profile.ak.fbcdn.net.nyud.net:8090/hprofile-ak-snc4/hs622.snc3/27526_113501911994364_6625_q.jpg http://profile.ak.fbcdn.net.nyud.net:8090/hprofile-ak-snc4/hs622.snc3/27526_113501911994364_6625_q.jpg http://profile.ak.fbcdn.net.nyud.net:8090/hprofile-ak-snc4/hs622.snc3/27526_113501911994364_6625_q.jpg http://profile.ak.fbcdn.net.nyud.net:8090/hprofile-ak-snc4/hs622.snc3/27526_113501911994364_6625_q.jpg

[Judi Lynn]

2. Bolivian Senate Approves Nationalization of $3 Billion Pension Fund System

Bolivian Senate Approves Nationalization of $3 Billion Pension Fund System
By Sara Shahriari - Dec 3, 2010 1:24 PM CT

Bolivia’s Senate approved President Evo Morales’ plan to nationalize the pension system and lower the retirement age in the South American country.

The move, approved late last night, will transfer administration of Bolivia’s pension funds from Futuro de Bolivia S.A., managed by Switzerland’s Zurich Financial Services AG, and Prevision S.A., managed by Spain’s Banco Bilbao Vizcaya Argentaria SA, to state entity Gestora Publica de la Seguridad Social de Largo Plazo, Viviana Arinez, a Finance Ministry spokeswoman, said in an e-mail.

Press officials at Zurich Financial Services and Banco Bilbao Vizcaya Argentaria didn’t immediately respond to e-mail and phone messages left by Bloomberg. The pension system had about $3 billion in assets, Buenos Aires-based news website Infobae reported, without saying where it obtained the information.

The takeover is the latest by the 51-year-old Morales, who took office in 2006 vowing greater state control over the economy. Morales enacted a new constitution last year that calls for increased government control over the country’s natural resources and utilities. Earlier this year he nationalized four power generating utilities.

http://www.bloomberg.com/news/2010-12-03/bolivian-senate-approves-nationalization-of-3-billion-pension-fund-system.html

[naaman fletcher]

5. Lets hope

That the assets stay invested and are not taken from the pension system for purposes of government spending, as is done with social security.

[social_critic]

6. I suppose they must be counting on a lower life expectancy

Either they expect lower life expectancy or they're a little daffy.

[Peace Patriot]

8. Lord, the rightwing comments here just make me want to...

:puke:

I don't call Republicans "Pukes" for no reason. Disgusting, greedy, stupid, cynical vomit-producers.

:puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke:

[social_critic]

9. Debate

I don't see any "right wing" comments here. Why don't you debate the issues? You're pretty intelligent. What do you think happens when life expectancy increases (which seems to be a worthy goal for any government) and population stabilizes (which is also a worthy goal because we'll destroy the planet if we keep increasing our numbers)? Work out the math.

[Judi Lynn]

10. The country starts another population depleting war, and throws even more young men, women

in privatized prisons, the ones who can't afford adequate legal representation, and use them as slave labor for nearly nothing. As life becomes more and more desperate under these conditions, there will be more and more poor people, more criminality, so why not shut down more schools, consolidate the school populations into fewer, but crowded, more violent schools, and continue building more prisons.

Also, sell more and more guns. That can be useful in helping to thin out the population. And turn the right-wing mad-dog lunatics out, give them a towering sense of importance and power, look the other way as they start threatening their moral/intellectual superiors, use them as a free-floating level of terrorism against the sane population, increasing the pressure pot effect, and eventually all hell will break loose, and seriously reduce the population to such low numbers the small class of ruling pig right-wingers will be able to control them all easily.

Looks as if it's working as planned.

[social_critic]

11. Discuss the retirement law and whether it's sensible or not, please

Please be serious. Do you really think it makes sense to drop the retirement age to 58 if life expectancy is increasing, and there's a need to stabilize the population to avoid environmental collapse? The two trends lead to an aging population, and an increasing ratio of workers to retirees. A more sensible step is to leave the retirement age as it is, and pass legislation making it easier for retirees to work partime. The key is to develop the job market to absorb the young, not to throw older people out of work so they can live in substandard conditions.

I don't know where you get all those comments about war and so on. As far as I know, Bolivia hasn't been at war for a while, nor would it be sensible for Bolivia to get into a war with its neighbors, therefore the discussion you posted sure leaves me baffled.