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  • fund
  • New York, however, failed to fund its pension benefits adequately, while being buffeted by economic crosswinds itself. (governing.com)
  • They estimate that if investment returns of state pension funds had merely averaged what economists call the "risk free" rate of 4.5 percent a year since 2007, pension-fund assets would have been $857 billion higher than they are today and would more than plug the entire aggregate gap. (prospect.org)
  • 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 Committee also has delegated functions to make arrangements for the investment and management of the Pension Fund arrange for the appointment of investment managers and advisors. (eastriding.gov.uk)
  • 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)
  • Reform ideas can be divided into three primary categories: Addressing the worker-retiree ratio, by raising the retirement age, employment policy and immigration policy Reducing obligations by shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits) Increasing resources to fund pensions by increasing contribution rates and raising taxes. (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)
  • The Act established the Pension Regulator with the power to require sponsoring companies to fully fund their pension liabilities, by adopting an appropriate recovery strategy consistent with the SFO. (wikipedia.org)
  • There is also a separate pension fund, OYAK, for members of the Turkish Armed Forces. (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)
  • The Chilean workers yearly contributions in the private pension fund are amounting to about 3.5% of gross domestic product. (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)
  • pensioners
  • 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)
  • 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)
  • 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)
  • The contributory retirement pension (Pension por Jubilacion Ordinaria) represents the main source of retirement income for approximately 8.75 million pensioners in Spain. (wikipedia.org)
  • benefits
  • As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. (www.gov.uk)
  • San Diego's municipal workers were also granted generous pension benefits. (governing.com)
  • Pensions are the largest tangible post-employment reward for a career that study after study shows pays less than comparable jobs in the private sector, even when those pension benefits are included. (prospect.org)
  • Most of the largely right-wing interest groups and politicians sounding the alarm over pensions hope that by attacking the benefits of public-sector employees, they will weaken public-sector unions and undermine confidence in state government, furthering both their political ambitions and small -- government ideology. (prospect.org)
  • The department was initially tasked with creating Jobcentre Plus and the Pensions Service from the remains of the Employment Service and the Benefits Agency . (wikipedia.org)
  • The Member Benefits Online System (MBOS) is a set of Internet based applications that allow registered members access to their pension and, if applicable, health benefit account information. (nj.us)
  • Delaying # pensions , denying #benefits is a political choice! (twitter.com)
  • Renamed the Bureau of Pensions, the agency had two duties: Assess and either approve or deny claims, and to pay benefits. (wikipedia.org)
  • The poor payment record is attributed primarily to the fact that individual contributions had little correlation with anticipated pension benefits. (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)
  • Parliament
  • The Pensions Act 2007 (c 22) is an Act of the Parliament of the United Kingdom. (wikipedia.org)
  • The Public pension base rate is adjusted annually and is approved each year by the Norwegian parliament on the basis of the negotiations made in the annual insurance settlement. (wikipedia.org)
  • Pensioner
  • Reducing the ratio of pensioner to serving in the military will, it is argued, greatly reduce the defence pension bill. (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)
  • Reform
  • A final statement was published on 4 April 2006, detailing its response to specific issues which had arisen in the debate on pension reform since publication of the Second Report. (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)
  • The Chile Pension system (Spanish: Sistema Previsional) refers to old-age, disability and survivor pensions for workers in Chile. (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)

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  • 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)
  • Public workers' pensions are likened daily in the news media to a crisis or a tsunami, about to drown us all. (prospect.org)
  • 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)
  • Reforms
  • 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)
  • 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)
  • 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)
  • 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)
  • The last pillar of the Danish pension system is income derived from tax-subsidized personal pension plans, established with life insurance companies and banks. (wikipedia.org)
  • Supplementary pensions are institutionally and by ways of funding similar to the occupational system. (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 necessity of reforming Spain's pension system arose largely in response to pressure resulting from Spain's changing demographic trends. (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)
  • 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)
  • 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)
  • government
  • 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)
  • In just over 30 years, the government estimates there'll be around 50 million dormant pension pots, worth over £750bn. (twitter.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)
  • 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)
  • 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)
  • salary
  • Contributory retirement pensions in Spain are the second highest (as % of final salary) in Europe after Greece and amount to approximately 81% of final salary levels. (wikipedia.org)
  • The maximum pension for someone having earned twice the average salary (€64,200) would be €2,526.30. (wikipedia.org)
  • employers
  • Funds paid in by contributors (employees and employers) are not saved (or invested) but are used to pay current pension obligations. (wikipedia.org)
  • divisions
  • With the creation of the department in June 2001, the Pension Service was created, bringing together many different departments and divisions. (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)
  • 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)
  • liability
  • The Pensions Act 2004 is silent on the status of a liability under a CN/FSD if the company on whom it is imposed becomes insolvent. (lexology.com)
  • dividend
  • Liu and Tonks (2012) examine the effect of a company's pension commitments on its dividend and investment policies, assessing the impact of funding rules under the MFR, and also under the funding requirements introduced under the Pensions Act 2004. (wikipedia.org)