Income Archives - Page 18 of 50 - Pension Policy International

20JunJune 20, 2022

UK. State pension age increase doubles poverty rate among pensioners

Nearly 100,000 65-year-olds fell into poverty as the state pension age rose from 65 to 66, depriving them of an income of £142 per week as the government saved £4.9bn. According to research by the Institute for Fiscal Studies (IFS) the latest increase in state pension age from 65 to 66 meant that the absolute income poverty rate for 65-year-olds rose by 14 percentage points, or nearly 100,000 people, to reach 24% by late 2020. The higher state pension age also...

June 20, 2022

News2022, Income, Regulation, Retirement Age, UK

17JunJune 17, 2022

Would the Securing a Strong Retirement Act Secure More Retirement Equity?

By Albert Feuer On March 29, 2022 the House approved H.R. 2954 that is titled the Securing a Strong Retirement Act of 2022 (the SECURE Act 2.0) by a vote of 414-5. On May 26, 2022, a discussion draft of the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act of 2022 was released by the Senate Health, Education, Labor, and Pensions Committee Chair Senator Patty Murray (D-WA), and Ranking Member Senator Richard...

June 17, 2022

Articles, Regulation2022, Income, Pension Management, Taxation

16JunJune 16, 2022

UK. Pensions: Workers not saving enough for retirement as cost of living crisis bites

Britons who pay into a workplace pension are not saving enough to get by when they retire but can’t afford to contribute more because of the cost of living squeeze, MPS have been told Anna Mowbray, research and policy officer at Community Trade Union, told the work and pensions committee that workers are worried about their future pension but the biggest concern now is facing soaring energy and food bills. “Given the current cost of living crisis that people are facing...

June 16, 2022

News2022, Income, Saving, UK

14JunJune 14, 2022

Iranian labor minister resigns amid protests against soaring living costs

Iran’s labor minister resigned on Tuesday amid daily nationwide protests by pensioners, merchants and workers against soaring living costs. While it was not clear if Hojatollah Abdolmaleki’s resignation was directly related to the month-long protests, a senior MP blamed his “incompetence” for the unrest. The semi-official Tasnim news site said his resignation followed “mounting criticism for his handling of the labor market and a meagre rise in the retirement pensions.” ”His failure to create a planned number of jobs and the growing...

June 14, 2022

News2022, Income, Iran

10JunJune 10, 2022

Aging People, Aging Places: Experiences, Opportunities, and Challenges of Growing Older in Canada

By Maxwell Hartt, Samantha Biglieri, Mark W. Rosenberg & Sarah E. Nelson How well do the places where we live support the wellbeing of older adults? The Canadian population is growing older and is reshaping the nation’s economic, social and cultural future. However, the built and social environments of many communities, neighbourhoods and cities have not been designed to help Canadians age well. Bringing together academic research, practitioner reflections and personal narratives from older adults across Canada, this cutting-edge text...

June 10, 2022

Aging, Books2021, 2022, Canada, Health, Income, Public Policy

10JunJune 10, 2022

The Missing Middle. How Tax Incentives for Retirement Savings Leave Middle-Class Families Behind

By Tyler Bond and & Doonan Saving for retirement is one of the biggest financial challenges most working Americans will face. While the vast majority will participate in Social Security, most will have less than half of their income replaced by Social Security in retirement. Therefore, many workers also will need to save for retirement through other plans, such as an employer-provided defined benefit pension plan or 401(k) plan, or on their own through an Individual Retirement Account (IRA). Congress...

June 10, 2022

Books, System Characterization2022, Income, Taxation, US

10JunJune 10, 2022

LGBT: Retirement Preparations Amid Social Progress

By AEGON LGBT: Retirement Preparations Amid Social Progress is a collaboration between Aegon Center for Longevity and Retirement, and nonprofits Transamerica Center for Retirement Studies® (US), and Instituto de Longevidade Mongeral Aegon (Brazil). The report focuses on the retirement aspirations and plans among the LGBT community, and highlights findings from LGBT survey respondents from nine of the 15 surveyed countries comprising the 6th Annual Aegon Retirement Readiness Survey. Many of the traditional patterns of family and working life, including the way...

June 10, 2022

Adequacy, Books, Pension design, System Characterization2018, Equality, Health, Income

09JunJune 9, 2022

Factors Influencing the Choice of Pension Distribution at Retirement

By Robert L. Clark & Olivia S. Mitchell One of the most important financial decisions that pension participants make concerns how they access their pension assets when they terminate employment with their plan sponsor. Their choices depend both on own preferences and the options offered by their retirement plan. This paper examines both past and future pension withdrawal choices for those with defined benefit and defined contribution pensions, separately. Our data are drawn from a set of pension distribution questions...

June 9, 2022

Articles, Pension design2022, Defined Benefit, Defined Contribution, Income, Payout, US

06JunJune 6, 2022

People in Germany retired earlier with slightly higher pensions in 2021

For years, the average retirement age in Germany has been increasing, but 2021 saw a little blip in the trend, with employees retiring a little earlier and with slightly higher pension benefits than in previous years. People retired earlier with higher pensions in 2021 On average, people working in Germany retired a little earlier last year and with slightly higher pensions, according to new figures from the Deutsche Rentenversicherung, which were made available to Bild. In total, 1,435 million employees retired in...

June 6, 2022

News2022, Germany, Income, Retirement Age

01JunJune 1, 2022

25% of Americans are delaying retirement due to inflation, survey finds

Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline. As a result, one-quarter of Americans will have to delay their retirement, according to the BMO Real Financial Progress Index, a quarterly survey conducted between March 30 and April 25. Putting off retirement plans is mostly due to disrupted savings from increased prices, the survey found. Thirty-six percent of survey respondents have reduced their savings and 21% are putting away less for retirement...

June 1, 2022

News2022, Income, Labor Market, US

June 2022