Hundreds of French protesters stormed BlackRock‘s headquarters in rejecting a new pension law passed in parliament without a vote.
Dozens of protesters stormed today the headquarters of BlackRock, located in Paris, to demonstrate their rejection of pension reforms pushed by the government of Emmanuel Macron. Protesters brought flares and flags into BlackRock headquarters, singing anti-Macron songs as the building was engulfed in smoke.
Last month, Macron issued an executive order that mandates the country’s retirement age rise by two years from 62 to 64. From 2027, people will have to work longer to receive government-granted pension benefits.
Protests against Macron‘s pension reform have lasted more than ten days.
In addition, the government has said that pension legislation is necessary to avoid a financial deficit in the nation. However, workers disagree with this approach, and many complain about the rising cost of living.
“Banks create crises, and BlackRock is one of them,” they say in France.
“Instead of taking two years of life away from the workers, Macron should look for funds here,” said Berenger Cernond, delegate of the railway workers’ union, as reported by the media mentioned above.
In France, people still working finance retirees’ pensions, although the government points out that the pension system must be reformed to make it financially sustainable. According to its calculations, the volume of pensioners and retirees charged to the system will eventually break it.
“The government wants to throw pensions away. It wants to force people to finance their retirement with private pension funds, but what we know is that only the rich will be able to benefit from such a setup,” stated retired teacher Onic.
That was precisely why the protesters moved to the building in central Paris, where BlackRock has its office. All to demonstrate their rejection of the world’s largest asset manager.