#pension age

[eaglesnick]

Second-rate Britain 5

We are all aware of the mass street protests in France concerning the raising of the French retirement age from 62 to 64 years of age. Knowing he could not get this legislation passed in parliament, right-wing President Macron abandoned the democratic process and used his executive power to force this deeply unpopular piece of legislation onto the statute book.  The French people have responded with nationwide street protests and riots.

Here in Britain it was quietly announced that Rishi Sunak had (for now) abandoned the Tory government’s plan to raise the UK state pension age from 66 to 68.

“Plans to raise UK state pension age to 68 delayed…” (Express: 21/03/23)

There are three reasons behind this delay. One is fear of social unrest as seen in France. Second, there is an election in less than two years time and raising the pension age is a vote-loser. Third, and perhaps most worrying of all, is that life- expectancy in the UK is falling.

“Life expectancy in the UK has… slipped down the global rankings. The UK came in at 29th in 2021, according to the new analysis, which was published in the Journal of the Royal Society of Medicine. It found that, over seven decades, the UK has done worse than all G7 countries except the US.”( www.thenationalnews,com)

Last year (2022) only nine other countries had retirement ages at the same level or higher than the UK. In other words, we are 8th from bottom of the world pension age league table.

Couple the fact that our government wants to raise the official state pension age with the fact that life expectancy is falling and at some stage we will reach the point where people die before ever reaching retirement age. Is this me exaggerating? No, it is the view of the MP’s we elect to look after us.

“Raising pension age will mean many people die before getting it, say MPs”  ( Guardian 28/0/17)

So, while the French take to the streets to defend their right to retire at 62 we in Britain are uncomplainingly working ourselves into an early grave.

[jay-wasstuff]

-

Bonus: the old man (+insp)

[thenorthremembersdotstark]

https://tradingeconomics.com/country-list/retirement-age-men?continent=europe

Am I missing something because France is protesting having their retirement age increased when the rest of Europe(most of the countries in the European block) are  already on a higher pension age on average and even if it is increased to 64 it still won’t be at the higher end in Europe. 

[mixedupmilly]

In the Present: Capturing the Thought of the Moment

Daily writing promptJot down the first thing that comes to your mind.View all responses The first thing that comes to my mind. Well, I am sat here with the dog curled up behind me, and the TV showing Sky News and the protests in Paris are being shown at the moment. Photo by Vie Studio on Pexels.com I am thinking that it’s sad that protests often end up being violent and people and property get…

[gaywineauntsstuff]

the reason I hate the "Tim doesn't trust Dick after Damian/spyral/ric" is because they are besties your honour.

Like there's a post going around that I cannot for the life of me find that says Dick is Tims trusted adult and they are so right fr ong.

Because despite what Fanon believes Dick is a pretty chill guy and people take one look at him and go "let me unload my emotional baggage on you"

There's like a very famous panel (that im too lazy to find or remember the name of the run its in okay don't yell at me) where Tim basically goes "soooo my girlfriends pregnant" and Dick nearly falls off the roof.

Tim is calling Dick for the dumbest shit imaginable to the world ending and so are the rest of the batkids.

so I have taken the Canon that Dick knows if not all but most and generalised it to hell.

-------------------------

Jason has been on a team with like 80% of OG titan members

they're having gossip session

Jason in a war zone dodging bullets with his bat travel mug in his hand: And THEN! Kori and Roy shared this look and you know the look they give you when they're judging you for bat reasons and you're like tell me why you're mad I was raised by a crazy person my normal levels are skewed.

Dick in NYC with a blueberry bagel In one hand, his Turkish coffee in another, just finished meeting up with Donna who gave him THAT exact look: No REALLLLL why are they like that, just tell me which one of the creepy traits I internalised as a child is bothering you.

Jason: omg you get it anyway so I grab the bomb and start playing soccer with it because its round and im bored and starfire takes it away like idk what im doing? bro ive been bombed I know how to work with a bomb..

Dick: hmmm and then what happened

Jason: and then.....

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Tim: Dickkkkkkkkkkkkkkkkkkk

Dick: yea Tim

Tim: Kon is being a dick

Dick: oh?

Tim: yeah and its really starting to bother me man

Dick who knows Kon is dead and Tim is either hallucinating or drugged to be more susceptible to manipulation and is already on his way: hmm tell me more babybird whys he upsetting my lil brother

Tim about to tell Dick what is a fever dream bc he contracted pneumonia and is loopy off his ass on painkillers:

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steph does this more with babs in the hero scene but its just... so easy and totally gets into the habit of it after Dick is her Batman for a bit and now she uses him as her civilian life therapist

Steph on her way back from campus: and then this bitch looks me up and down and pours her coffee cup down my shirt!

Dick on his way back to blud after decking bruce in the face: hold on hold on hold on she did what??

Steph nodding vigorously even though he can't see her: pulls my whole ass sweater away from my body and pours her peats coffee down my goddamn shirt Dick.

Dick: omg she didnt

Steph still nodding: she DID and then I found out from Jonny who found out from Vivian that someone told her I made out with her boyfriend at Leos house party

Dick who has no idea who any of these people are: wait but you were at Leos for like an hour max last week. we has smoothies after.

StepH: exactly so I had proof that I wasn't there and confronted her and went like. I don't want your crusty ass alt white boy whose favourite 'indie' band is the neighbourhood. I dated Tim fucking Drake the OG crusty ass white boy and I don't do repeats

Dick choking on his coffee:

Steph: anyway we are besties now and planning on getting her boyfriend back because apparently he cheated on her with this drop dead gorgeous girl and im high key a lil complimented she thought we were the same person.

Dick who initially called for casework and is actually so happy one of the people he calls siblings is actually like living a life outside of vigilantism: tell me more

Steph: you sound a little teary

dick: don't worry about it

-------------------------

Damian: Richard

Dick: Damian

Damian: so I might be skipping patrol with father

Dick:? what you love patrol??

Damian: and school

Dick: Dames? what's going on:? is everything okay? you can talk to me

Damian: I am volunteering at a hospital

Dick: kid

Damian: Listen before you sAY anything I know what we do is important but I think I can help in another way and -

Dick had brown parents and was training for the olympics at 8, totally knows what its like to have insane expectations and rebel with a day job: kid kid calm down okay? you wanna be a doctor? is that it?

Damian: well? I dont really know but I just? there has to be another way to help people. besides what we do I mean-

Dick: Alfred left me Thomas waynes journals I initially thought they were to bash your fathers head in when he was being stupid but it seems the old man was looking out for us. Wanna take a stab at your other grandpas legacy when you come over next weekend. I'll tell Bruce we patrolled so you get a few more days off.

Damian: you're the best

[mostlysignssomeportents]

Biden wants to ban ripoff “financial advisors”

I'll be at the Studio City branch of the LA Public Library on Monday, November 13 at 1830hPT to launch my new novel, The Lost Cause. There'll be a reading, a talk, a surprise guest (!!) and a signing, with books on sale. Tell your friends! Come on down!

Once, American workers had "defined benefits pensions," where their employers promised to pay them a certain amount every year from their retirement to their death. Jimmy Carter swapped that out for 401(k)s, "market" pensions where you have to guess which stocks will be valuable or starve in your old age:

https://pluralistic.net/2020/07/25/derechos-humanos/#are-there-no-poorhouses

The initial 401(k) rollout had all kinds of pot-sweeteners that made them seem like a good deal, like heavy employer matching that doubled or even tripled the value of every dollar you put into the market for your retirement. But over the years, as Reaganomics took hold and workers' power ebbed away, all these goodies were clawed back. In the end, the market-based pension makes you the sucker at the poker table, flushing your savings into a rigged casino that is firmly tilted in favor of finance barons and other eminently guillotineable plutocrats.

Neoliberalism is many things, but most of all it is a cult of individualism. The fact that three generations of workers are nows facing down retirement without pensions that will provide them with secure housing and food – let alone money to see the odd movie, buy birthday gifts for their grandkids, or enjoy a meal out now and then – is framed as millions of individual failures, not a systemic one.

In other words, if you are facing food insecurity and homelessness after a lifetime of hard work, it's because you saved wrong. Perhaps you didn't save enough (through a 40-year run of wage stagnation and skyrocketing housing, health and education costs). Or perhaps you saved wrong, making the wrong bets on the stock market. If you can't afford to run your air conditioner during a heat dome, that's on you: you should have been better at stocks.

Apologists for this system will say that you don't have to be good at stocks – you just have to pay an Independent Financial Advisor to pick the stocks for you and you'll be fine. But IFAs don't work for free! What if you can't afford one?

Enter "predatory inclusion" – the practice of offering scammy, overpriced and substandard products to poor people and declaring it to be a good deed, because otherwise, those poor people would have to do without. The crypto bubble relied heavily on this: think of Spike Lee and others shilling for pump-and-dump scams as a way of "building Black wealth":

https://www.nytimes.com/2021/07/07/business/media/cryptocurrency-seeks-the-spotlight-with-spike-lees-help.html

More recently, Intuit and other scammy tax-prep services have argued against the IRS's plan to offer free tax preparation as bad for Black and brown people, because it will deny them the chance to be deceived and ripped off with TurboTax:

https://pluralistic.net/2023/09/27/predatory-inclusion/#equal-opportunity-scammers

Back in 2018, Trump won the predatory inclusion Olympics, when his Department of Labor let the Fifth Circuit abolish the "Fiduciary Rule" for Independent Financial Advisors:

https://www.investopedia.com/updates/dol-fiduciary-rule/

What was the Fiduciary Rule? It said that your IFN had to put your interests ahead of their own. Like, if there were two different funds you could bet on, and one would pay your IFN a big commission, while the other would be a better bet for you, the IFN couldn't put your retirement savings into the fund that offered them a bribe.

When Trump killed the Fiduciary Rule, he proclaimed it a victory for poor people, especially Black and brown people. After all, if IFNs weren't allowed to accept bribes for giving you bad financial advice, then they would have to make up the difference by charging you for good advice. If you couldn't afford that advice, well, you'd have to make bad retirement investments on your own, without the benefit of their sleazy self-dealing.

The Biden Administration wants to change that. Biden's Acting Labor Secretary is Julie Su, and she's very good at her job. Last spring, she forced west coast dockworkers' bosses to cough up the contract they'd stalled on for a year, with 8-10% raises for every worker, owed retroactively:

https://pluralistic.net/2023/06/16/that-boy-aint-right/#dinos-rinos-and-dunnos

Su has proposed a way to reinstate the Fiduciary Rule, as part of the Biden Administration's war on junk fees, estimating that this will increase retirees' net savings by 20%:

https://prospect.org/labor/2023-11-07-julie-su-labor-retirement-savers/

The new rule will force advisors who cheat their clients to pay restitution, and will require them to deliver all their advice in writing so that this cheating can be detected and punished.

The industry is furious, of course. They claim that "The Market (TM)" will solve this: if you get bad retirement savings advice and end up homeless and starving, then you will choose a different advisor in your next life, after you are reincarnated (I guess?).

And of course, they're also claiming that forcing IFNs to stop cheating their clients will deny poor people access to expert (bad) advice. As the Financial Services Institute's Dale Brown says, this will have a "negative impact on Main Street Americans’ access to financial advice":

https://www.fa-mag.com/news/legal-challenge-predicted-for-new-dol-fiduciary-proposal-75257.html

Here's that rule – read it for yourself, then submit a comment expressing your views on it. The government wants to hear from you, and administrative law requires them to act on the comments they receive:

https://www.federalregister.gov/documents/2023/11/03/2023-23782/proposed-amendment-to-prohibited-transaction-exemptions-75-1-77-4-80-83-83-1-and-86-128

Su is part of a wave of progressive, technically skilled regulators in the Biden administration that resulted from a horse-trading exercise called the Unity Task Force, which divvied up access to top appointments among the progressive wing and the finance wing of the Democratic Party. The progressive appointments are nothing short of incredible – the most competent and principled agency leaders America has seen in half a century:

https://pluralistic.net/2023/10/23/getting-stuff-done/#praxis

But then there's the finance wing's appointments, like Judge Jacqueline Scott Corley, who ruled against Lina Khan's attempt to block the rotten Microsoft/Activision merger (don't worry, Khan's appealing):

https://pluralistic.net/2023/07/14/making-good-trouble/#the-peoples-champion

Perhaps the worst, though, is Biden's Secretary of Commerce Gina Raimondo, a private equity ghoul who did a stint for the notorious wreckers Bain Capital before founding her own firm. Raimondo has stuffed her department full of Goldman Sachs alums, and has sidelined labor and civil society groups as she sets out to administer everything from the CHIPS Act to regulating ChatGPT.

As Henry Burke writes for the Revolving Door Project and The American Prospect, Raimondo's history as a corporate raider, her deference to the finance sector, and she and her husband's conflicts of interest from their massive stakes in companies she's regulating all serve to undermine Biden's agenda:

https://prospect.org/economy/2023-11-08-commerce-secretary-gina-raimondo-undercutting-bidenomics/

When the administration inevitably complains that its popular economic programs aren’t breaking through the media coverage, they’ll have no one to blame but themselves.

The Unity Task Force gave us generationally important policymakers, but ultimately, it's a classic "pizzaburger." If half your family wants pizza, and the other half wants burgers, and you serve them something halfway in between that makes none of them happy, you haven't made a wise compromise – you've just made an inedible mess:

https://pluralistic.net/2023/06/17/pizzaburgers/

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/11/08/fiduciaries/#but-muh-freedumbs

[fishareglorious]

hofmann and marcus dynamic to me is an adult albatross and its chick. do you get where im trying to say

[piratefishmama]

i think Hugh Jackman needs to be studied, did scientists make him in a LAB?

[b0bthebuilder35]

Thoughts?

[taxusbaccata6]

[vimbry]

I think the pop science view of what traits people find the most attractive/arousing is kind of hilarious, bc it's a genuinely fascinating subject that's just as wide and amorphous as people's sense of humour or phobias and should be studied more. I Like better understanding those aspects of ourselves! but unfortunately, a lot of cultural biases around conventional beauty standards and a woeful lack of education in this area tend to cloud the data just a bit. "ovulation, for example, may increase interest in younger partners who are more masculine and would make good providers" - so-called expert who has definitely not seen what people will post about when they're hormonal

[lesbiansandgayssupporttheminers]

Every time we do some half decent union action in the UK, the French go and do something 10 times better.

Which is to say if you are in a country which still has decent union membership and engagement, don’t let it be eroded!

[wejustvibing]

mh was "38-year-old" really necessary? that's just foul 💀 what are they trying to imply? 38 is not OLD. and he's always had great reaction time so? besides WE can joke about his age YOU can't. hope this helps 🙂

[ministerforpeas]

When You're 65.

[trevisos]

need to buy a new ssd for veilguard….

[idkmybffjaden]

So I've been laughing now for about a week over this encounter I had, where the person I was chatting with on tumblr goes,

"Wow, you're old!"

ok but

what if

maybe you're just young??