Choices Have Consequences: Retirement Policy

Talking about the upcoming theme for posts this week: CHOICES HAVE CONSEQUENCES…. for retirement policy. The big choices: retirement age, the shape of benefits (COLAs, taxable?, etc), and more… but there was a choice made before all these that influenced how all of these will turn out: total fertility rate.Episode LinksSTUMP, April 14: The French Continue to Protest Over Retirement Age ChangesI have a Google news alert on “retirement age” that emails me weekly, and every week this year it’s been full of headlines about French protests over raising the retirement age to the ancient limit of 64 years old. Zutalors!AP, April 14: France’s Constitutional Council approves higher pension ageFrance’s Constitutional Council on Friday approved an unpopular plan to raise the retirement age from 62 to 64, in a victory for President Emmanuel Macron after three months of mass protests over the legislation that have damaged his leadership.….The council rejected some other measures in the pension bill, but the higher age was central to Macron’s plan and the target of protesters’ anger.Macron can enact the bill within 15 days.In a separate but related decision, the council rejected a request by left-wing lawmakers to allow for a possible referendum on enshrining 62 as the maximum official retirement age. The council will rule on a similar request next month.Fertility RateOur World in Data: Total Fertility RateMore on fertility rateRobot catsJOY FOR ALL - Silver Cat with White Mitts - Interactive Companion Pets - Realistic & LifelikeYeah, I still consider them creepy.STUMP - Meep on public finance, pensions, mortality and more is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to STUMP - Meep on public finance, pensions, mortality and more at marypatcampbell.substack.com/subscribe