Sentences with phrase «works pension aged»
My husband was able to start taking his works pension aged 52 when he was made redundant.
http://www.thedigeratilife.com/ Not exact matches
«In the short term, it should add to economic growth (and) in the longer term, the fact that migrants are mainly young increases the working age population and addresses worrying demographics and pension dynamics in the euro area.»
Beyond the pension issue, the CEOs believed that employees who work past the typical retirement age can be beneficial for a company because of their knowledge, experience and ability to mentor younger staff.
«Encouraging people to work longer — through increases in pension age and reduced pension incentives to retire early — is a key objective,» the OECD enthused in a recent report.
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.
Chile provides a safety net for those who fall into poverty in old age, but it's still an imperfect pension system that needs work.
Trapani and Shindler have also discarded their old pension plan entirely since the «defined benefit plan» was set up to provide payouts only to employees who stayed until age 60, which just didn't meet the needs of the company's somewhat transient work force.
[74] In 2008, Corzine approved a law that increased the retirement age from 60 to 62, required that government workers and teachers earn $ 7,500 per year to qualify for a pension, eliminated Lincoln's Birthday as a state worker holiday, allowed the state to offer incentives not to take health insurance and required municipal employees work 20 hours per week to get health benefits.
Under these circumstances productivity is increased only by working the existing labor force more intensively and cutting back medical insurance, old - age pensions and other social welfare expenditures.
All individuals over the age of 18 who work inside of Canada are eligible to contribute toward and receive benefits from the Canadian Pension Plan (CPP).
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.
Posted by Nick Falvo under Austerity, CPP, demographics, employment, income, income support, inequality, labour market, media, OECD, Old Age Security, older workers, part time work, pensions, population aging, poverty, privatization, progressive economic strategies, retirement, Role of government, self - employed, seniors, small business, social policy, taxation, unions.
If we work in the company for another 5 years then our pensions would double at age 55 and we can then use the new savings to buy a place in Hawaii.
The Internal Revenue Service allows individuals who are age 50 or older by the end of the calendar year to make extra pre-tax contributions to their work - sponsored retirement plan account (s), including their 401 (k), 403 (b), Salary Reduction Simplified Employee Pension Plan, or governmental 457 (b).
The combined population of more - developed countries other than the U.S. is projected to decline beginning in 2016, raising the prospect of prolonged budget crises as the number of working - age citizens diminish, pension costs rise and tax revenues fall.
«People are living longer and healthier lives than ever, and the last thing we want is to lose their talent and enthusiasm from the workplace due to an arbitrary age limit,» work and pensions secretary Iain Duncan Smith said.
More importantly, Russia has extensive social spendings that are simply not so visible, like for example the pension age being as low as 50 if you work in the military or oil industry.
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.
The former director general of Saga, who only held the ministerial brief for 14 months and was known to have had a rocky relationship with former work and pensions secretary Iain Duncan Smith, said the triple lock had «fulfilled its purpose» and pensioner households were now «no more likely to be poor than other age groups».
When the government called to change the pension age they promised a relaxed transition but we're now looking at working an EXTRA 6 years, not the 18 months MP's keep stating in their interviews.
And yes, I know my pension may not be so generous and I may have to work to age 65 and I don't care that much.
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.
Baroness Altmann, Tory former pensions minister, warned that «only about one in 10 pensioners continues working past state pension age and are not all well - off.
Currently those aged over the state pension age do not pay national insurance contributions, even if they are working.
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.
A report by Policy Exchange published last week claimed that public sector workers are better off than their private sector counterparts in terms of hours worked, retirement age and pension quality.
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.
One of the women facing a two - year rise in her state pension age told us: «I was so mad when I found out I will have to work till I am 66.
Double dipping: Pension payments for those who have reached age 65, filed for retirement and returned to work.
Women currently under the age of 54 will have to work until they are 66 in revamped Tory plans to raise the state pension age.
Because if we want to protect those things we care about, like generous pensions and decent healthcare, and buy the best equipment for the brave men and women who fight in our armed forces, all of us are going to have to confront the costs of modern government — and cap working age welfare bills.
The treasury minister Lord Myners had indicated to RBS that there should be «no reward for failure», [49] but Goodwin's pension entitlement, represented by a notional fund of # 8 million, was doubled, to a notional fund of # 16 million or more, because under the terms of the scheme he was entitled to receive, at age 50, benefits which would otherwise have been available to him only if he had worked until age 60.
Dr. Townsend published his plan in a local Long Beach newspaper in early 1933 and within about two years there were 7,000 Townsend Clubs around the country with more than 2.2 million members actively working to make the Townsend Plan the nation's old - age pension system.
«As unpopular as it may be to talk about working longer - the simple fact is that if we aren't prepared to increase the state pension age, we will simply pass an ever greater and frankly unsustainable burden onto our children and grandchildren,» he said.
«the compensation system for federal judges in the United States creates a very powerful economic incentive to retire at a reasonable retirement age by virtue of how the defined benefit pension plan works, that most judges assent to not long after reaching that age.»
But, the compensation system for federal judges in the United States creates a very powerful economic incentive to retire at a reasonable retirement age by virtue of how the defined benefit pension plan works, that most judges assent to not long after reaching that age.
Iain Duncan Smith, work and pensions secretary, discussed the change in the retirement age on Sky News:
While making some limited concessions, this offer confirms contributions would rise from April, the retirement age would be linked to the rising state pension age meaning people would have to work up to eight years longer, and the imposed switch in indexation for pensions would remain - amounting to a cut in the value of pensions of around 15 % to 20 %.
The mayor, whose own administration has been partially responsible for pension fund growth, now wants to require most new municipal workers to work at least 10 years, or double the current amount, to qualify for a pension, and bar them from receiving pension checks until age 65.
Many people face a doubling or tripling of contributions and might have to work longer because of the raising of the pension age from 60 to 65 and then to 68.
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.»
«It is low - paid private sector workers working beyond retirement age... who are subsidising public sector pensions while receiving none of the benefits.
The mayor wants to require most new municipal workers to work at least 10 years, or double the current amount, to qualify for a pension, and bar them from receiving pension checks until age 65.
Despite the Government extolling the virtues of people working longer, older teachers, particularly women, feel under - valued and are often pressurised to leave their jobs well before their pension age, the Annual Conference of the NASUWT, the largest teachers» union in the UK, has heard today.
«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.
That this House declines to give a Second Reading to the Welfare Benefits Up - rating Bill because it fails to address the reasons why the cost of benefits is exceeding the Government's plans; notes that the Resolution Foundation has calculated that 68 per cent of households affected by these measures are in work and that figures from the Institute for Fiscal Studies show that all the measures announced in the Autumn Statement, including those in the Bill, will mean a single - earner family with children on average will be # 534 worse off by 2015; further notes that the Bill does not include anything to remedy the deficiencies in the Government's work programme or the slipped timetable for universal credit; believes that a comprehensive plan to reduce the benefits bill must include measures to create economic growth and help the 129,400 adults over the age of 25 out of work for 24 months or more, but that the Bill does not do so; further believes that the Bill should introduce a compulsory jobs guarantee, which would give long - term unemployed adults a job they would have to take up or lose benefits, funded by limiting tax relief on pension contributions for people earning over # 150,000 to 20 per cent; and further believes that the proposals in the Bill are unfair when the additional rate of income tax is being reduced, which will result in those earning over a million pounds per year receiving an average tax cut of over # 100,000 a year.
Pension age The Chancellor announced that people would have to work longer before receiving state pPension age The Chancellor announced that people would have to work longer before receiving state pensionpension.
Iain Duncan Smith's Department of Work and Pensions (DWP), which clashed with No 10 repeatedly over the introduction of the universal credit, is once again at war with Downing Street over the future of benefits for old - age pensioners.
Raising the retirement age might be sensible with an ageing population, but it is a gimmick unless age discrimination and inequality are seriously tackled; because if the rate of unemployment is high among the elderly then a raised retirement age simply defers the point where working age benefits are replaced by pension benefits.