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Just because CNN writes “BlackRock ... has played no part in the pension reforms”, can you not see how the world’s largest asset manager — which manages many pr
by wunderland 4y ago
Just because CNN writes “BlackRock ... has played no part in the pension reforms”, can you not see how the world’s largest asset manager — which manages many private pensions — would obviously have a clear interest in such pension reforms? This isn’t complicated.
- legitster 4y agoSure, but Blackrock managing your pension is all the same to them whether you start drawing on it at 62 vs 64. If anything, the collapse of the French public pension system would be a net benefit to their business if people start fleeing to private investments.
- ngrost24 4y agoThe way I see it, if the pension fund has less money there's less to manage and also less to gain from. If the people flee to private investments, they do not necessarily flee to Blackrock.
- realusername 4y agoThat's the opposite though, the pension fund gets more money because of the reforms. Sure the workers are screwed in favour of retired people but the fund is increasing with this change.
- ubercow13 4y agoIsn't this change about the public pension, which is not a fund at all, it's simply a transfer from workers to retirees? Blackrock has nothing to do with that money, except in that if the money becomes insufficient, people might privately invest in Blackrock products to make up the difference.
- realusername 4y agoAnd by how much those reforms are adding private pensions into the mix?