Sentences with phrase «pension age on»

Whilst on the face of it, a costs argument does not appear completely irrational, increasing state pension age on its own does feel redolent of taking a blunt instrument to the wider problem of an aging population.

Guarantee Credit tops up income for those on low amounts (savings over # 10,000 may reduce the amounts) while Savings Credit is only for those who reached state pension age on or before 5 April 2016 and who have put aside some savings.

The head of the pensions commission said it would be «very difficult» for politicians to impose a rise in the state pension age on voters while retaining their own lucrative salary scheme.

Not exact matches

Without a company pension to fall back on, the manager of a specialty wood - products mill in Kamloops, B.C., has been putting at least $ 5,000 into his RRSP every year since the age of 23.

Japan's government loosened laws on pensions in May, allowing almost all working - age Japanese to join private defined - contribution retirement plans — similar to individual retirement accounts (IRAs) in the United States that allow workers to make regular contributions to an investment fund with tax breaks.

TORONTO — Those depending on Old Age Security and Canada Pension Plan cheques can still expect to see them in the mail, even if a Canada Post strike or lockout happens this weekend.

He began buying property both as a hobby and because, as a recent immigrant, he couldn't rely on Old Age Security or Canada Pension Plan benefits.

Speaking on other issues, he said that Russia was on the brink of making a decision on raising the pension age.

In addition, other payroll taxes on employees will end (e.g. EI premiums), and certain tax measures targeted on the elderly will come into play (e.g. the aged exemption, the pension income deduction, the non taxation of GIS, pension income splitting, and so on).

The Guaranteed Income Supplement was meant to be in place only long enough to help the people who reached 65 before the full Canada Pension Plan pensions became available and who would have little or nothing other than Old Age Security, and perhaps a reduced Canada Pension Plan pension, to lPension Plan pensions became available and who would have little or nothing other than Old Age Security, and perhaps a reduced Canada Pension Plan pension, to lPension Plan pension, to lpension, to live on.

thanks, and yes, a pittance of a pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch of service)-- along the way, frugal living, along with dollar - cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed for Medicare in several years, albeit with a nice supplemental and pharmacy benefits — but our main concern is staying fit, active, and healthy!

That means fewer working - age Illinoisans are expected to be counted on to support retirees in the coming years, driving up the amount of unfunded pensions even higher.

Policymakers see raising the pension age - currently 55 for women and 60 for men - as a way of spurring faster growth at a time when Western sanctions are a drag on the economy.

Such analysis is especially important, given the impact of an ageing population on economic growth, and government revenues and spending, especially for public pensions and health care.

While government workers have gold - plated pensions often starting at age 55 and many employed Canadians have employer - matched RRSPs, the small business owner is counting on the value of the business — including any investments owned by the corporation — for his or her retirement.

He was clear that wars (and by logical extension, public infrastructure and old - age pensions) always are paid for by the generation that fights the wars, builds the infrastructure or creates the output on which welfare - income transfer payments are spent.

«But on an after - tax basis, for Canadians who collect Guaranteed Income Supplement (GIS) and have no other separate source of income beyond CPP, pension wealth is maximized at age 60, on average, and is reduced from there on.»

Plan participants can opt to start receiving their pension anytime between the ages of 60 and 70, with the annual pension amount adjusted down or up on an actuarially fair basis.

Here I am, an old guy, living on my pension, social security, and 401 (k) that I've set aside for my old age, and I'm asking myself how to explain all that while claiming to be a follower of Jesus who said, «Lay not up for yourself treasures on earth, where moth and rust doth corrupt, where thieves break through and steal» (Matthew 6:19 KJV), I did exactly what Jesus told me not to do.

Drawing together Ukrainians of all ages and backgrounds — old women on puny state pensions and tech - savvy teenagers still in high school, university intellectuals and street-wise factory workers, Ukrainian - speakers and Russian - speakers — the Maidan soon became a self - organizing civil society.

The faith - group programs, representing Protestant, Catholics, and Jews, have consistently provided documentaries, dramas, and discussions which dealt with issues almost never touched by commercial broadcasting: the economic factors behind nuclear armaments; the issues behind draft evasion (during the Vietnam War); the real causes of worldwide starvation; and the problems of people who are ignored almost completely by the media, such as the aging who can not live on their pensions, unwed mothers, farm workers who have no homes, undocumented aliens whom we wish to employ but not pay, and refugees we are sending back to certain death in their own countries.

The Australian Chamber of Commerce and Industry has taken a harder line, warning there was a risk Australia could become an economic basket case like Greece or Spain if the May budget didn't curb «runaway spending» on the aged pension, family tax benefits and childcare.

Before the establishment of survivors» benefits, needy widowed mothers with children had to rely on state - run Mother's Pension programs.56 These programs scrutinized beneficiaries closely and were often administered to deny aid to women of color or women with objectionable morals or lifestyles.57 In contrast to discretionary (and often discriminatory) mother's pensions, survivors» benefits uniformly extended coverage to widows of insured workers who were caring for a child under the age of 18.58 There was no requirement of economic need.

«The DWP may not like to hear it but its next wave of reforms will be a non-starter, unless the formula for increasing state pension age is firmly anchored on prior improvements to healthy life expectancy in poor communities,» Mr Harrop argued.

He suggested widening health inequalities raised serious concerns for the Department for Work and Pensions (DWP), which plans on increasing the state pension age to 66.

In addition to policies aimed at increasing the age at which workerscan retire and encouraging private pensions (central planks of pension reforms in many other countries), the Nordic countries have for several years been focusing on adjustments to the way their pension systems are funded.

To avoid a similar fiasco, the SPD has insisted this time on a number of social policies in the 2013 coalition treaty, such as the introduction of a minimum wage, more flexibility in the pension system, an increase in old - age pensions and benefits for the chronically ill as well as an increase in social expenditure on matters like education, health and family benefits.

Appointed parliamentary secretary for pensions by Winston Churchill, in the coalition government of 1940, she went on to become minister for Education in the landmark Attlee government of 1945, introducing free milk for schoolchildren and raising the school leaving age.

The change to women's pension age was blamed on the EU, this is simply not true, it was labelled «unfair to men» and had to be equalised, but hang on; did we not do the «fair» bit in 1940?

The Lifting the Restrictions on Nest report comes after groups including the TUC, Age UK and the Federation of Small Businesses (FSB) wrote to Pensions Minister Steve Webb last month, urging him to lift the barriers around Nest as soon as possible.

The announcement comes as pressure grows on ministers to scrap a deal struck with civil servants in October, which allows existing workers to retire on a full pension at the age of 60, although new employees would have to work until 65.

The new proposals apply to those who reach state pension age between April 6th 2008 and April 5th 2015 and who already have 20 qualifying years on their National Insurance record.

At a keynote speech at Age UK's conference two weeks ago, work and pensions secretary Iain Duncan Smith outlined his key principles for pension reform, with a focus on the next generation of pensioners and making it pay for current workers to save for retirement.

This acceleration of the increase in the state pension age will disproportionately hit those on lower incomes, who often have lower life expectancies and will lose a greater proportion of their retirements.

The work and pensions secretary left open the possibility of moves against the elderly after days of buildup to today's Commons vote on deep cuts to welfare spending for those of working age.

In addition to a G4S paycheck, Derenda qualifies for a state pension of around $ 90,000 a year based on his 32 years with the police department and his age, according to the state retirement calculator on the State Comptroller's website.

It is unsatisfactory because with every increase in the state pension age, we inflict another set of injustices and unfairnesses on those who are approaching that moment in their lives.

Those aged under 75 can now pass on their pension without any tax at all, while those aged over 75 will only pay the marginal rate.

Lord Turner's pension commission recommended the creation of a new low - cost savings scheme to help people save, a more generous state pension paid for by a higher retirement age and a change to the eligibility criteria based on residency, to help women and carers.

Michelle Mitchell, charity Director at Age UK, commented on the government's plans for a flat - rate state pension:

Commenting on today's announcement that the Government is to bring forward the effective date from which the state pension age will only become payable at 68, Chris Keates, General Secretary of the NASUWT — The Teachers» Union said:, «Over recent years teachers have already faced hugely detrimental changes to their occupational pensions, compounded by year after year of real term cuts to their pay.

Iain Duncan Smith, work and pensions secretary, discussed the change in the retirement age on Sky News:

So presumably, the less wealthy, after being told what to spend their money on by «society» for all their working years, reach pensionable age fully moulded by a paternalistic government into financially responsible citizens who will commit a significant amount of their time to research where they want to invest their pensions, and subsequently enjoy «regular updates on how their pension fund was growing» — because of course, like house prices, pension funds can only rise in value.

«They're more likely to be working age, they're more likely to be paying taxes and less likely to have relatively large sums of money spent on them for education, for long - term care, for healthcare, for pension expenditure.»

And let's not forget the iPod generation, now struggling to pay off student loans and gain a toehold on the housing ladder while half their earnings disappear in tax to fund pensions and healthcare for an ageing population.

While spending on the NHS and the state pension is among the most popular (and the over-65s are the most likely age group to vote), few will object to the abolition of housing benefit for the under - 25s (the least likely age group to vote).

«The agreement that members of the current pension scheme should continue to be able to retire at age 60 on full pension is a «done deal»,» he said in a statement.

«Because [immigrants] are more likely to be working age, they're more likely to be paying taxes and less likely to have relatively large sums of money spent on them for education, for long - term care, for healthcare, for pension expenditure,» OBR chairman Robert Chote told MPs.

Under the Government proposals a woman born just before April 1953 will get her state pension at age 62, whereas one born on 6 April 1953 will only receive hers at age 65.

«The Lord Dean of Harptree, who died on April 1 aged 84, was an accomplished junior pensions minister under Edward Heath who, after being shunned by Margaret Thatcher, spent his final decade in the Commons as a deputy Speaker.