A few days before the verdict concerning the possible placement of General Motors under the yoke of Chapter 11 of bankruptcy law american, there is an agonizing issue for pensions in the automaker. What sacrifices will they agree to allow the company to sustain its activity Their fate is in the hands of the UAW, the powerful union of the automobile, which has the onerous responsibility of measuring the concessions necessary for the company can continue to finance pensions, health insurance and life insurance for its unionized pension. Anyway, whatever happens, they will have no choice: their benefits will be scaled back, some mortgage for their current lifestyle..

The retreats have proven to be a real shot dragged by U.S. automakers, union employees of the Big Three have long enjoyed a much more comfortable than workers in other sectors. General Motors alone has to retire and fund coverage of more than 650,000 Americans. A competitive disadvantage that has strangled until it became unbearable when the crisis erupted. Therefore, although the financing of pensions by Plans employers is common to all sectors, in the car that the problem arises in the most acute.

The United States has since 1935 a general pension scheme, which is the main source of pensions for most of the population. The scheme is financed by employee and employer contributions. But as Lucy apRoberts accurate, author of a book on pensions in the United States and expert guidance to the Board of Pensions, these pensions do not provide sufficient income. The average pension is equivalent to about 37% and the average wage across all sectors. This is why employees who are complemented by insurance.


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