Pension reform protesters briefly storm Paris building housing BlackRock

Paris: Scores of protesters staging demonstrations against French President Emmanuel Macron’s pension overhaul briefly invaded the central Paris building in which US-based investment firm BlackRock has its office, chanting slogans and setting off firecrackers.The protests in the historical Centorial building close to Paris’ Grand Boulevards area, targetted BlackRock because of its private pension fund activity, protester Françoise Onic, 51, said.“The government wants to throw away pensions, it wants to force people to fund their own retirement with private pension funds, but what we know is that only the rich will be able to benefit from such a setup,” Onic, a school teacher, added.The protests at the US based investment major’s offices came on the 11th day of nationwide union-organised strikes and demonstrations against the government's plan to increase the retirement age by two years to 64.BlackRock did not immediately respond to the disruption. Thomson Reuters also has an office in the same building.Unlike many other European countries in which pensions are at least partially financed by private pension funds, France has a system whereby the contributions of those who are currently working directly fund the pensions of those now in retirement.The government says change is needed to keep the pension system in the black.Loudly singing the French anti-pension reform protester's favourite slogan “On est la” (“we are here”) the demonstrators left the building after about half an hour, leaving its large atrium filled with acrid smoke from the firecrackers.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.