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Mr. Sarkozy's problems have been magnified by a generalized anxiety about France's generous retirement system.
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BEHIND THE NEWS President Nicolas Sarkozy, struggling with low poll ratings, has staked his credibility as a reformer on the overhaul of a generous, expensive retirement system whose costs are skyrocketing as the population ages.
But the more generous European retirement system provides about 75-85 percent (depending on the country) of retirement income.
After years of deadlock on the issue, Germany's Parliament passed a ground-breaking law today aimed at overhauling the country's extremely generous but financially strained retirement system.
Its retirement system is notoriously generous, with many ways to retire at 50 or even earlier with 100% of pay.
The military pension system is a very generous retirement benefit for those members who serve a full 20 years.
Millions of Americans are scraping to save the amount they will need for retirement beyond Social Security, but the European retirement system is much more generous.
In these countries, a class accustomed to security — those with traditional jobs ending in generous retirement plans — opposes any effort to change the system.
Third Way will tell you, anytime you want to ask, that while "everyone should have a decent retirement system," the one that federal employees receive is "far too generous".
Mayor Michael R. Bloomberg proposed sweeping changes on Wednesday to New York's costly pension system, seeking to save billions of dollars by fundamentally altering long-established rules that have awarded generous retirement benefits to municipal workers and have deepened the city's financial hole.
Employee Retirement System.
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