• fund
  • Investors are now looking into more rewarding options than those originally offered by pension providers and the insurance and fund management companies whose services have ultimately disappointed their expectations. (prweb.com)
  • The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate, state, and federal pensions in the world, due to a difference between pension obligations and the resources set aside to fund them. (wikipedia.org)
  • The International Monetary Fund reported in April 2012 that developed countries may be underestimating the impact of longevity on their public and private pension calculations. (wikipedia.org)
  • Following the death of Robert Maxwell, it became clear that he had embezzled a large amount of money from the pension fund of Mirror Group Newspapers. (wikipedia.org)
  • There is also a separate pension fund, OYAK, for members of the Turkish Armed Forces. (wikipedia.org)
  • The Pensions Reserve Fund (Fonds de réserve pour les retraites) was set up in July 2001 with the aim of using funds from privatisations of state holdings to finance the future shortfall of the state PAYG system. (wikipedia.org)
  • By 1973 the funding of the pension fund was low, though 73% of all Chilean workers paid into the system. (wikipedia.org)
  • For all citizens who are legally defined as workers, employers must pay a proportion of the earnings to a pension fund. (wikipedia.org)
  • For example any pension fund must deposit minimum reserves. (wikipedia.org)
  • There are government guarantees for the following cases: All citizens who have contributed to a fund for at least 20 years are guaranteed a minimum pension. (wikipedia.org)
  • The difference between the minimum pension and the pension entitlement from the investment fund is paid by government. (wikipedia.org)
  • If a pension fund is unable to perform a defined minimum profit, it will be liquidated and the collected assets will be transferred to another fund. (wikipedia.org)
  • In case of bankruptcy of a pension fund the government pays out the pensions on public expenses. (wikipedia.org)
  • 2000
  • But many pensions have annual investment return assumptions in the 7-8% p.a. range, which are closer to the pre-2000 average return. (wikipedia.org)
  • 2002
  • The commission was announced in the Pensions Green Paper published in December 2002. (wikipedia.org)
  • In 1998, the labor force was recorded to have contributed about 4% of their gross salary to pensions, and in 2002, 77% of the labor force contributed over 7%, exemplifying a steady growth in the average contribution rate. (wikipedia.org)

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  • funds
  • Pryce Warner International Group have seen a significant increase in QROPS uptake, since it was revealed that international investors now share a staggering £30bn of stagnant pension funds. (prweb.com)
  • Something that impoverished retiree investors will surely attest is the fact that final pension funds are dictated by the performance of any given plan, so it's vital that investors address their underperforming plans as soon as possible, to avoid truly dire consequences later on in life. (prweb.com)
  • They are angry at the way they were treated by their former employers and at the government for failing to protect their pension funds. (socialistworker.co.uk)
  • Funds paid in by contributors (employees and employers) are not saved (or invested) but are used to pay current pension obligations. (wikipedia.org)
  • The pension system was changed by José Piñera, during Augusto Pinochet's dictatorship, on November 4, 1980 from a PAYGO-system to a fully funded capitalization system run by private sector pension funds. (wikipedia.org)
  • On November 4, 1980, under the leadership of José Piñera, Secretary of Labor and Pensions under Augusto Pinochet with the collaboration of his team of Chicago Boys, the PAYGO pension system was changed to a capital funded system run by investment funds. (wikipedia.org)
  • (wikipedia.org)
  • The pension payments from the pension funds are still relatively low, mainly because yet just a few depositors have reached the retirement age. (wikipedia.org)
  • Until 2008 the private pension funds have accumulated capital of an amount of 52.77% of gross domestic product. (wikipedia.org)
  • The establishment and the operation of the private pension funds are regulated by law. (wikipedia.org)
  • consist
  • Pensions in Denmark consist of both private and public programs, all managed by the Agency for the Modernisation of Public Administration under the Ministry of Finance. (wikipedia.org)
  • obligations
  • But Democrats seem unwilling to tackle the problems of pensions -- from the lack of retirement security for most workers to the massive unfunded obligations of public pensions -- because their supporters in the labor movement want to protect the status quo. (nbcbayarea.com)
  • In the United States, this would represent a 9% increase in pension obligations. (wikipedia.org)
  • public
  • Mr Letwin denied that his plans to curb government spending outside the priority areas of health, education and old age pensions, amounted to a "slash and burn" policy for the rest of the public sector. (telegraph.co.uk)
  • How difficult will the public pension problem be to solve? (nbcbayarea.com)
  • Complicating our efforts to provide a fiscal estimate are the significant legal challenges that would face various provisions of this measure, including, but not limited to, likely claims that the measure would impair pension and other contracts with current and past public employees. (nbcbayarea.com)
  • Denmark's system is a close resemblance to that encouraged by the World Bank in 1994, emphasizing the international importance of establishing multifaceted pension systems based on public old-age benefit plans to cover the basic needs of the elderly. (wikipedia.org)
  • In Denmark, the public pension consists of two tiers. (wikipedia.org)
  • Pensions in Turkey can be public or private. (wikipedia.org)
  • The state pension is divided into three different parts, Public pension base rate (which everyone gets), Special supplement and Dependents supplement. (wikipedia.org)
  • Public pension base rate (called "Grunnpensjon" or "G") - a base rate used as the basis for calculating the Norwegian state pension. (wikipedia.org)
  • As of May 1, 2014, the amount of the Public pension base rate was 88,730 NOK per year. (wikipedia.org)
  • system
  • Critics have argued that investment return assumptions are artificially inflated, to reduce the required contribution amounts by individuals and governments paying into the pension system. (wikipedia.org)
  • The Commission was responsible for looking at how the pension system was developing over time and for making recommendations on whether the pension system should move beyond the current voluntarist approach. (wikipedia.org)
  • The Commission published its First Report on 12 October 2004, setting out a detailed and comprehensive analysis of the UK pensions system. (wikipedia.org)
  • Their Second Report, published on 30 November 2005, presented its conclusions on the likely evolution of the UK pension system if policy remained unchanged, and the Commission's recommendations for a new policy direction. (wikipedia.org)
  • It incorporated the main findings of the all-party Pensions Commission in 2006 as set out in the white paper Security in retirement: towards a new pension system published in May 2006. (wikipedia.org)
  • replacing Home Responsibilities Protection (HRP) with a new system of weekly credits for parents and carers Raising the pension age for women to 65 by 2020. (wikipedia.org)
  • The private pension system is regulated by law. (wikipedia.org)
  • Sosyal Güvenlik Kurumu, History Brook, A. and E. R. Whitehouse (2006), "The Turkish Pension System: Further Reforms to Help Solve the Informality Problem", OECD Social, Employment and Migration Working Papers , No. 44, OECD Publishing. (wikipedia.org)
  • The pensions system is financed by a payroll tax on salaries. (wikipedia.org)
  • The necessity of reforming Spain's pension system arose largely in response to pressure resulting from Spain's changing demographic trends. (wikipedia.org)
  • The Chile Pension system (Spanish: Sistema Previsional) refers to old-age, disability and survivor pensions for workers in Chile. (wikipedia.org)
  • Under Michelle Bachelet's government the Chile Pension system was reformed again. (wikipedia.org)
  • A social security system was introduced in Chile in the 1920s, which included a PAYGO pension system. (wikipedia.org)
  • Chilean military that implemented the new AFP system excluded themselves from it keeping obtaining their pensions from the Caja de Previsión de la Defensa Nacional. (wikipedia.org)
  • However, differently from what a regular, society-wide, PAYGO system would operate, military pensions go to a small section of the population and are financed by all of the taxpayers in the country. (wikipedia.org)
  • eligible
  • The Pensions Act 2008 established new duties which require employers to automatically enrol eligible workers into a workplace pension plan that meets certain minimum standards. (wikipedia.org)
  • 1. 5 Lakhs annually, in comparison with ₹ 5.38 Lakhs a year for civilian pensioners paid from the defence services estimates.The per capita bill on account of defence civilian pensioners is higher mainly because defence civilian officers serve longer, reach the highest grades in the pay scales, are eligible for One Rank, One Pension (OROP) pensions, and are entitled to Non Functional Upgradations (NFU). (wikipedia.org)
  • Previously men had been discriminated against because women became eligible for the state pension at 60 while men had to wait until 65, but this was ruled illegal by the ECHR[citation needed]. (wikipedia.org)
  • government
  • One big problem in Greece was massive government liabilities funding very generous pensions. (mybudget360.com)
  • To reduce the military pension bill, the 6 CPC and Koshyari Committee, had urged the Government to absorb Armed Forces personnel after their military engagement in Civil Government organization including Police Organization as is the custom in many countries, including in China, and in advanced economies like S Korea, Singapore, Israel, Switzerland, and the United States. (wikipedia.org)
  • The intent of these recommendations was to reduce the defence pension bill, save on training and recruitment costs, provide trained manpower to government departments, and provide soldiers a second career after their term of military engagement. (wikipedia.org)
  • The Bureau of Pensions was an agency of the federal government of the United States which existed from 1832 to 1930. (wikipedia.org)
  • The first government pensions in American history were awarded to naval officers in 1799. (wikipedia.org)
  • The government pays a fixed amount as social assistance for those citizens who are not even entitled to minimum pension, the Pensiones Asistenciales (PASIS). (wikipedia.org)
  • retirees
  • Norwegian pensioners who have lived most of their lives in Norway and who are entitled the Norwegian minimal state pension are permitted to use this pension money in other countries too - due to this, many Norwegian retirees choose eventually to move abroad after they retire to countries where the Norwegian minimal state pension would provide them a much higher standard of living. (wikipedia.org)
  • commissioner
  • In 1833, Congress created a "Commissioner of Pensions" within the War Department, and transferred the Treasury's pension function to this new office. (wikipedia.org)
  • Congress created the Department of the Interior in 1849, and transferred the Commissioner of Pensions office to it. (wikipedia.org)
  • workers
  • It's about pensions and although he writes about General Motors, much of the book is devoted to New York City subway workers and to San Diego's pension-driven municipal meltdown . (governing.com)
  • FORMER WORKERS at firms which have gone bankrupt staged a sit-down protest in central London last Saturday over their lost pensions. (socialistworker.co.uk)
  • Secretary
  • Naval pensions were administered by a commission composed of the Secretary of War, Secretary of the Navy, and Secretary of the Army from 1799 to 1832. (wikipedia.org)
  • The commission dissolved in 1832, and the Secretary of the Navy administered the pension plan alone until 1840. (wikipedia.org)
  • These pensions were administered by the Secretary of the Treasury. (wikipedia.org)
  • disability
  • The Social Disability Pension program is financed by general tax revenues dependent on social and medical factors and is historically known as a standard disability pension program. (wikipedia.org)
  • benefit
  • MBOS Applications provide information about your pension account and link you to benefit calculators and online application forms. (nj.us)
  • It argues for preserving defined benefit -- that is, pensions -- instead of replacing them with less secure 401k accounts, as others on the right propose. (nbcbayarea.com)
  • treasury
  • For example, as of 2008[update], the estimates for the underfunding of the United States state pension programs ranged from $1 trillion using a discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. (wikipedia.org)
  • supplement
  • If the individual has managed to earn an additional pension which is at least as large as the special supplement, they would not be able to get the special supplement. (wikipedia.org)
  • The size of the special supplement will depend on whether the pensioner is single, has a spouse/partner/partner who is also receiving a pension, or if they are the breadwinner of the household. (wikipedia.org)
  • arrangements
  • The Ombudsman's services are free to complainants and respondents, and the Ombudsman's jurisdiction extends to many pension arrangements that are not subject to the levy. (wikipedia.org)
  • year
  • in comparison Armed Forces personnel (Army, Air Force, and Navy) pensioned off every year (in 1996) was approximately 40,000. (wikipedia.org)
  • A significant change was the phasing in of equalisation of state pension ages for men and women over a ten-year period. (wikipedia.org)
  • Therefore, the Norwegian minimal state pension, which has been designed to cover the most basic living expenses in Norway, is adjusted each year to the increasing living costs in Norway. (wikipedia.org)
  • On the other hand, Norwegian pensioners who did not live in Norway most of their lives and who are entitled the Norwegian minimal state pension, will receive the Norwegian minimal state pension only if they would stay in Norway for at least nine months each year from the age of 67. (wikipedia.org)
  • If the pension was claimed directly by the person then 2 additional months pension are added throughout the year to make it a total of 14 months a year of pension. (wikipedia.org)
  • If the disabled person was claimed by a parent or guardian then there are only 12 months of pension a year. (wikipedia.org)