European business and union leaders have joined forces to denounce recent decisions by governments and MEPs to water down proposed EU laws to protect employees' pensions when they move jobs, reports The Guardian.
About 40% of Europe's workforce will change their jobs within five years or less, with 50% of younger employees expecting to do so. But millions are prevented from transferring their accrued pensions to their new firm's scheme while their old dormant "pot" loses substantial value. The European commission is trying to introduce a common set of rules that would help protect pensions and allow workers to transfer their retirement savings from one job to another. Moving pensions with jobs is banned in some countries, including Spain and Finland. ICAP, THE WORLD’S LARGEST inter-dealer broker...
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