Income Archives - Page 26 of 47 - Pension Policy International

27MarMarch 27, 2021

Retirees who pay the most in taxes make only $36,000 a year on average, study finds

Retirees who have the most money pay the most in taxes, according to a recent working paper, but they’re not necessarily rich. “Most of the tax burden is carried by the top quintile of households,” Anqi Chen, co-author and assistant director of savings research at the Center for Retirement Research at Boston College, told Yahoo Money. But “it's important to keep in mind that when we think about the top quintile of households — the top 20% — they're not...

March 27, 2021

News, Slider2021, Income, Pension design, Taxation, US

25MarMarch 25, 2021

Do public pensions matter to marriage? Evidence from China

By Hua Chen, Zining Liu, Xiaoxu Yang This article examines the role of public pensions on the marriage market based on China Health and Retirement Longitudinal Study (CHARLS). Firstly, we investigate if the extensive margin of public pensions, i.e., whether to participate in public pensions or not, has a significant effect through Difference-in-Difference (DID). The results indicate that public pensions have a significant effect on marriage for both urban and rural residents, and the gender and income heterogeneity of the...

March 25, 2021

Adequacy, Articles2021, China, Income, Public Pensions

25MarMarch 25, 2021

How Much Taxes Will Retirees Owe on Their Retirement Income?

By Anqi Chen, Alicia H. Munnell To evaluate their retirement resources, households approaching retirement will examine their Social Security statements, defined benefit pensions, defined contribution balances, and other financial assets. However, many households may forget that not all of these resources belong to them; they will need to pay some portion to federal and state government in taxes. It is unclear, however, just how large the tax burden is for the typical retired household and for households with different income...

March 25, 2021

Articles, Pension design2021, Income, Taxation, US

23MarMarch 23, 2021

UK. PensionBee cuts gender pay gap to 4%

PensionBee has reduced its median hourly gender pay gap to 4 per cent, in line with its aim of achieving equality with a variance of 5 per cent permitted due to the overall size of the employee base. The pension provider, which also noted it had a median bonus pay gap of 0 per cent among its staff, said it had achieved gender employment parity across all levels of its business, while figures from the Office for National Statistics (ONS)...

March 23, 2021

News, Slider2021, COVID-19, Gender Gap, Income, UK

19MarMarch 19, 2021

A Guide to the Treatment of Pensions on Divorce

By Pension Advisory Group The publication of this final report from the Pension Advisory Group is an important and very welcome event. The importance of the work is demonstrated by the fact that a good many busy and experienced practitioners have given up valuable time over the course of the past two years to produce this definitive guidance on the approach to the issue of pensions in Financial Remedy cases before the Family Court. For too long the division of...

March 19, 2021

Books, Pension design, Regulation2019, Coverage, Income, Public Policy, UK

19MarMarch 19, 2021

The Welfare and Labor Market Effects of Mandatory Pension Savings: Evidence from the Israeli Case

By Adi Brender Many studies show that workers make poor decisions about pension savings. Policy responses to these failures include social security retirement arrangements, tax benefits for pension savings and, in some countries, also mandatory private savings towards retirement. This study examines the response of Israeli employees to the introduction of mandatory pension contributions, and the medium-term labor market effects of the arrangement, using a randomly selected panel of 300,000 employees. The first year of the arrangement, when enforcement was...

March 19, 2021

Adequacy, Articles, Labor Market, Savings2021, Income, Social Security, Taxation

19MarMarch 19, 2021

US. $35 Trillion in Retirement Savings Tells a Tale of Two Economies

New data published by the Investment Company Institute (ICI) shows total U.S. retirement assets grew to $34.9 trillion as of December 31, which is up 7.5% from the end of the third quarter of the year and up 9.3% overall for last year. With such strong growth for the year, the ICI reports, retirement assets accounted for a third of all household financial assets in the United States at the end of December. The ICI update shows that assets in...

March 19, 2021

News, Slider2021, COVID-19, Income, savings, US

18MarMarch 18, 2021

Kenya: Former Telkom Workers Wallow in Poverty As Pension Scheme Holds On to Payout

On a bright Wednesday morning, Agnes Ouma sits on a blue plastic chair outside her neighbour's house, in Jamhuri estate on Ngong road. She is going through her phone book. Midway, she pauses and laments: "Nobody receives my calls these days." She thinks that most of her contacts have blacklisted her. Because whenever she calls, it is to ask for financial help. Since retrenchment, she says, she has been reduced to a borrower -- borrowing without any clear plan to repay. "No...

March 18, 2021

News, Slider2021, COVID-19, Income, Kenya, Payout

12MarMarch 12, 2021

Towards Improved Retirement Savings Outcomes for Women

By OECD Labour market inequalities are well-known to be the main drivers of the gender pension gap. This publication focuses on helping governments find solutions for retirement savings arrangements that do not further exacerbate these inequalities. This study first analyses why the gender pension gap exists and sheds light on some of the behavioural and cultural factors that contribute to these inequalities. Country case studies assess how demographics, labour markets and other factors may affect gaps in pension coverage, assets...

March 12, 2021

Books, Labor Market, Pension design, Reports, Savings2021, Adequacy, Gender Gap, Income

10MarMarch 10, 2021

Australia. Age Pension increase for mid March

This announcement follows the Royal Commission into Aged Care Quality and Safety's Final Report, tabled into Parliament on 26 February 2021, which outlined the necessary changes needed in the aged care sector From 20 March, 2021, all social security payments will be increased, including the Carer Payment. The Age Pension was not raised last September, which the peak body for older people, National Seniors Australia, says was the first time there was no increase to cover the cost of living in the...

March 10, 2021

News, Slider2021, Adequacy, Australia, COVID-19, Income

March 2021