Library of Congress

Law Library of Congress

The Library of Congress > Law Library > News & Events > Global Legal Monitor

Malawi: New Pension Scheme Introduced

(Mar. 9, 2011) On March 1, 2011, the 193-member unicameral Malawi Parliament adopted Pension Bill No. 14 of 2010, which seeks to establish a mandatory pension system. (Dickson Kashoti & Suzgo Khunga, House Passes Pension Bill, BNL TIMES (Mar. 2, 2011).) The bill will now be sent to the President for his assent. (Id.) The […]

Sri Lanka: Proposed Changes to Retirement Fund Rules

(Feb. 14, 2011) Sri Lanka's Minister of Labor, Gamini Lokuge, submitted a draft of the Employees' Provident Fund (Amendment) Act to the legislature. The amendment would make changes to allow Fund participants to withdraw 30% of the assets they have in the Fund if needed for either medical treatment or to build a house. The […]

Denmark: Retirement Age Raised

(Feb. 3, 2011) On January 25, 2011, Denmark's Prime Minister Lars Løkke Rasmussen announced a plan to reform the country's early retirement program. The move has two goals: to help the economy and to prevent labor shortages. Economists have praised the plan but advise that it is not sufficient on its own to save the […]

France: Retirement Reform Found Constitutional

(Nov. 22, 2010) On November 9, 2010, the French Constitutional Council found that the reform of the retirement system, which raised the legal minimum retirement age from 60 to 62 and the age for receipt of a full pension from 65 to 67, was in conformity with the Constitution. The constitutional challenge had been submitted […]

Netherlands: Retirement Age to Rise

(Dec. 7, 2009) On November 21, 2009, thousands of Dutch workers held protests in four Dutch cities against the government's decision, announced in mid-October, to raise the state retirement age from 65 to 67 by 2025. In addition to labor organizations, opposition political parties reportedly oppose the new rules. (Dutch Workers Protest Pending Retirement Age […]

Germany: Social Security Contributions

(Dec. 1, 2009) On November 11, 2009, the German Federal Minister for Labor and Social Issues promulgated the 2010 contribution rate for the statutory old-age pension system. (Bekanntmachung der Beitragssätze in der allgemeinen Rentenversicherung und der knappschaftlichen Rentenversicherung für das Jahr 2010, BUNDESGESETZBLATT I at 3705.) In 2010, the general contribution rate for old age […]

Ukraine: Pensions for Emigrants

(Nov. 9, 2009) On October 9, 2009, the Constitutional Court of Ukraine announced its decision to recognize selected provisions of articles 49 and 51 of the Law on Mandatory Retirement Insurance, articles that establish that citizens of Ukraine may continue to receive their retirement benefits abroad only if the country of their residence had signed […]

Japan: National Public Official Retirement Allowance Law Amendment

(Jan. 28, 2009) The National Public Official Retirement Allowance Law was amended by the Diet (Japan's parliament), and the new version was promulgated on December 26, 2008 (Law No. 95 of 2008). The amended Law enabled the government to enforce the return of a paid retirement allowance from a retired official if a scandal is […]

United States: 401(k) Plan Participants May Sue Plan Administrators under ERISA

(Mar. 2, 2008) The Supreme Court ruled on February 20 that a participant in a defined contribution pension plan, such as a 401(k) plan, may use a section of the Employee Retirement Income Security Act of 1974 (ERISA) to sue a plan administrator whose misconduct impaired the value of the participant's individual account. Section 502(a)(2) […]

European Union: Mandatory Retirement Age

(Nov. 2, 2007) On October 16, 2007, in a case involving an appeal by a Spanish manager who had filed a suit against his employer for forcing him to retire at the age of 65, the European Court of Justice held that the governments of the Member States of the European Union have the discretion […]