How Bitcoin can help solve France’s sweeping pension reforms
-
Loading... - Malia Alter
- 13 Apr 2023
- 74 Views
- 0 Like
- 0 Comment
Bitcoin could stabilize the value of pension plans in France after President Emmanuel Macron unveiled a plan in January 2023 to raise the retirement age for French retirees from 62 to 64.
Today, protesters stormed the Paris branch of BlackRock, the world’s largest asset manager, in the latest snub at President Macron’s sweeping reforms that some say only benefit wealthy companies.
French president polarizes workers as government seeks to recover funds
the french government forced the approval of the new scheme on March 16, 2023, without a vote.
In addition to changing the retirement age, the new law consolidates the 42 schemes into a single points-based plan. This revised plan would reportedly simplify job transitions and breaks. However, it will hurt employees whose scheme offers better money and a lower retirement age.
Knowing that the new reform would likely result in winners and losers, Macron sought to reshape his public perception through a lengthy national consultation. He said the plan would start in 2025 and make a full transition over 15 years.
The French Pension Advisory Council Dear All the reform will bring $19.3 billion to the French government by 2030. Compensatory measures to smooth the transition to a higher retirement age and a longer contribution period could exceed $4.9 billion.
While some fund managers, including VanguardWhile many argue that Bitcoin’s long-term value proposition is weak, others have seen it as a safe-haven asset that protects against currency devaluation that retiring employees are likely to face.
How Bitcoin can benefit future French retirees
US pension funds have generally erred cautiously in recommending cryptocurrency allocations, using them to boost returns without incurring significant losses. Read More…
