Monika Schnitzer, Vorsitzende der “Wirtschaftsweisen” fordert eine #Rentenreform. #Renten sollten nur noch mit der Inflation statt der Lohnentwicklung steigen
Was sie nicht sagt: Beamtinnen + Beamte wie sie erhalten im Schnitt 67 % #Pension. #Rentner nur 48 %.
Es braucht tatsächlich Reformen, aber an anderer Stelle:
If someone decides to take an early retirement before the age of 65 in #Quebec, their retirement #pension will be reduced to compensate for receiving benefits for a longer period.
The issue for Bélanger and thousands of others in her situation is that people who are unable to work because of a #disability also face a similar penalty — come 65 years old, their retirement pension can be slashed by up to 24 per cent.
So, how much did the #KwasiKwarteng mini budget cost the UK... well, it seems UK #pension funds lost around £425bn in 2022, due to the turmoil in the bond market caused by Kwarteng's pronouncement.
I'm guess that will be something that he'll be glossing over in his applications for post-Parliamentary employment....
well, for a #female to enjoy the same pension as a male they would (on average) need to work an extra 19 years (beyond the current retirement date).
This is what happens when we (as a society) do not value the work women do around motherhood & caring.... but it also reflects how these roles remain highly gendered - men are not losing their pension contributions because they are out of the workforce caring.... cos, they aren't!
Hi everyone, I recently landed a new job where the base 401(k) contribution for all FTEs is 12% of your salary. This is regardless of your contribution, with no additional match. I realize that this is unusual for most people and it is for me as well. In my last job, I got up to a 6% match so I maxed that out and didn't think on...
Instead Of Making Life Easier For Pensioners, Widows, Transgenders, A J&K Govt Online Process Has Led To Misery
In September 2022, the Jammu & Kashmir government began online verification to make welfare doles for pensioners, the differently abled, widows, and transgenders more efficient. Instead, reflecting similar glitches in other states, hundreds have been denied monthly income for seven to eight months due to lack of documents, system glitches and biometric mismatches, despite several trips to offices meant to help them.
From the Equality Trust't latest report on #inequality in the UK.
When the top 20% of wealth holders have over two thirds of all wealth & assets, while the high-profile issue may be the top 1%, what we also have to recognise is that (most likely) #housing 'wealth' has solidified into the middle class in an alarming reflection of overall inequality (as outside the top 1% the chief asset most individuals own is their #house & perhaps also their #pension pot).
Next year #UK will tax state pensions rather than increase taxes on the wealthy
Pensioners will not only have a tax bill, they will have to put money aside to pay it, & will have to complete a self assessment tax return, with all the associated risk of serious penalties attached to that process.
There are many interesting & important conclusions in the Joseph Rowntree report on the causes of deep #poverty & how to escape it, but one thing immediately leaped out (given discussions of inter-generational fairness & #pension provision):
'73% of people aged 55 or over who were living in very deep poverty moved out of very deep poverty when they started to receive their state pension' !
Well, well, well.... the MP's Parliamentary #Pension scheme invests a vanishingly small proportion of its assets in UK equities - under 3% of overall equity holdings & less than 2% of its overall investments.
So, while telling us to invest more in Britain, and while trying to force other pension firms to do so, the MPs scheme isn't doing so.
So, once again we find MPs doing for themselves what they don't want us to do... its yes more Westminster #hypocrisy
#University staff have voted to end their long running dispute as cuts to their #pension provision have been reversed (including a cap on pots-retriement inflation linkage), partly 'allowed' by a revile of the ongoing valuation of USS' assets/liabilities.
Its an end to all sorts of disruption but as noted in a previous post on #socialmobilitry, this does not mean all is now well in the universities - there's work to be done to reform a overly-marketised, under-resourced & badly managed system!
Some of us are storing up problems for the future... for those lucky enough to have a private #pension, the temptation to withdraw money to cover current expenditures (driven by #inflation & the #Costoflivingcrisis) is growing.
The withdrawals are rising year on year at around 17%... while this is a problem that many might wish they had, for those raiding their pension pots, given we generally under-contribute to pensions (if we have them), this looks to be a potential problem down the road
@RichardJMurphy on why rather than thinking of (or planning on) a #wealthtax, a much easier progressive #tax solution would be to simply remove the higher band tax relief from #pension contributions... easy to legislate, the mechanism is already in place, and it would raise over £12bn in extra tax a year... and RM knows what he's talking about, he's a tax professional!
8-31-23 Nicole Sandler Show – Thursdays with Howie Klein
Howie writes constantly at DownWithTyranny.com. Most of his posts are politically-oriented though, like me, he often veers off course into the music world. For good reason! When I first met Howie Klein some 30 years ago, he was President of Reprise Records, so it's in his blood.
I never know what I'll see when I log on to DTW, and https://nicolesandler.com/8-31-23/ #NicolesBlog#BillyBragg#HowieKlein#pension#ProudBoySentence
So, should the University Superannuation Scheme (pension fund for UK academics) pump even more of its members money into #thameswater to stop it collapsing? Or should it write off its investment and let the Govt pick up the pieces? @ChrisMayLA6
BBC News: Big Thames Water investor backs turnaround plans
Ha ha @tokensane you must have read my mind.... since I discovered USS is a major shareholder (and of course is currently paying my #pension) I have been wondering exactly the same thing - should they cut their (propspectve) losses or be a more active shareholder while also answering the call for capital.... and the reason I haven't posted on it is I just cannot come up with a good answer.... I can argue both ways but cannot convince myself of either 🤔
There go the people who might give a clear signal on #ClimateRisk for projects and inftrastructure.
"The Net-Zero #Insurance Alliance (#NZIA) has been buffeted by growing political opposition from some #Republicans in the US who say the group could be violating #antitrust laws by working together to reduce clients' carbon #emissions.
This month 23 US state attorneys general [said NZIA targets andrequirements] appeared to violate both federal and state antitrust laws."
"One independent #financial analysis found that #Indiana’s anti-#ESG bill could cost the state #pension system nearly $7 billion.
After #Texas passed its anti-ESG law, five of the largest #banks — Goldman Sachs, Citigroup, JPMorgan Chase, Fidelity and Bank of America — stopped doing business with the state’s urban governments."
12% 401(k) Contribution - What to do? [USA]
Hi everyone, I recently landed a new job where the base 401(k) contribution for all FTEs is 12% of your salary. This is regardless of your contribution, with no additional match. I realize that this is unusual for most people and it is for me as well. In my last job, I got up to a 6% match so I maxed that out and didn't think on...