Tag #Pensions

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kathimerini.gr

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Aug 7, 01:15

Greek Pension Disparity Highlights Public-Private Sector Divide

Greece's June 2025 pension data reveals an average gross pension of €843.63, with 60% of pensioners receiving under €1,000; new private sector retirees average €760.16 compared to €1,327.67 for public sector retirees, reflecting the impact of the 10-year economic crisis and pension reforms.

Greek Pension Disparity Highlights Public-Private Sector Divide

Greece's June 2025 pension data reveals an average gross pension of €843.63, with 60% of pensioners receiving under €1,000; new private sector retirees average €760.16 compared to €1,327.67 for public sector retirees, reflecting the impact of the 10-year economic crisis and pension reforms.

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How did the 10-year economic crisis and the Katrougalos law contribute to the current pension disparities?

This pension gap is a direct consequence of decreased private sector wages and job losses during the economic crisis, coupled with the implementation of the Katrougalos law. 60% of pensioners receive less than €1,000 monthly.

dailymail.co.uk

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Jul 27, 16:14

UK Pension Reforms Face Criticism Amidst Insufficient Savings and Delayed Action

The UK government faces pressure to reform its pension system due to insufficient personal savings and the unsustainable cost of the state pension, with proposals for cuts to tax relief and a delayed review raising concerns about future retirement security.

UK Pension Reforms Face Criticism Amidst Insufficient Savings and Delayed Action

The UK government faces pressure to reform its pension system due to insufficient personal savings and the unsustainable cost of the state pension, with proposals for cuts to tax relief and a delayed review raising concerns about future retirement security.

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What are the immediate impacts of the proposed pension reforms on UK citizens' retirement savings?

The UK government's proposed pension reforms include potential cuts to tax relief on contributions and tax-free cash, impacting personal savings. A new pensions commission aims to improve the system, but its recommendations won't be implemented until at least 2029. This delay and the potential cuts raise concerns about long-term financial security for retirees.

theguardian.com

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Jul 26, 19:12

UK Faces Looming Financial Crisis as Baby Boomers Retire

The UK government faces a looming financial crisis as the baby boomer generation retires, straining government finances and potentially causing higher inflation; wealthy boomers are investing abroad and importing younger workers, exacerbating the issue.

UK Faces Looming Financial Crisis as Baby Boomers Retire

The UK government faces a looming financial crisis as the baby boomer generation retires, straining government finances and potentially causing higher inflation; wealthy boomers are investing abroad and importing younger workers, exacerbating the issue.

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What are the immediate economic consequences of the upcoming mass retirement of the baby boomer generation in the UK?

The UK government is facing a looming crisis as the baby boomer generation approaches retirement age. This will strain government finances due to increased pension costs and reduced tax revenue, potentially leading to higher inflation and difficulty borrowing money. The International Monetary Fund projects an 8% increase in GDP dedicated to health and pension costs by 2050.

elmundo.es

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Jul 23, 04:12

Spanish Labor Costs Surge in 2024 Due to Pension Reforms

In 2024, the average annual cost of employing a worker in Spain reached €37,525, with social security contributions totaling €9,000 (24%)—the highest percentage in recent years due to pension reforms—while salaries constituted €27,558 (73.4%).

Spanish Labor Costs Surge in 2024 Due to Pension Reforms

In 2024, the average annual cost of employing a worker in Spain reached €37,525, with social security contributions totaling €9,000 (24%)—the highest percentage in recent years due to pension reforms—while salaries constituted €27,558 (73.4%).

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What is the impact of Spain's recent pension reforms on the overall cost of employing workers in 2024?

In 2024, Spanish employers spent an average of €37,525 per employee annually, a 3.9% increase from 2023. Social security contributions comprised €9,000, or 24% of this total, the highest percentage in recent years following pension reforms. This reflects a shift from 2022, where contributions accounted for 23.5%.

t24.com.tr

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Jul 21, 13:15

Turkish Court Ruling Removes Protection Against Pension Seizures

A recent Turkish Supreme Court ruling eliminates legal protection preventing the seizure of retirement pensions for debt repayment, potentially impacting millions of retirees' financial security by allowing banks direct access to their pension funds.

Turkish Court Ruling Removes Protection Against Pension Seizures

A recent Turkish Supreme Court ruling eliminates legal protection preventing the seizure of retirement pensions for debt repayment, potentially impacting millions of retirees' financial security by allowing banks direct access to their pension funds.

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What is the immediate impact of the Yargıtay's decision on the financial security of Turkish retirees?

The Turkish Supreme Court of Appeals (Yargıtay) recently eliminated the legal protection preventing the seizure of retirement pensions for debt repayment, as reported by Aziz Çelik in Birgün. This ruling allows banks to directly seize retirement pensions, leaving retirees vulnerable to financial institutions.

dailymail.co.uk

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Jul 21, 13:15

UK Launches Pensions Commission to Tackle Retirement Savings Crisis

The UK government established a new Pensions Commission to tackle insufficient retirement savings, projected to leave 2050 retirees £800 annually worse off than current pensioners; the commission will investigate barriers to saving and report in 2027.

UK Launches Pensions Commission to Tackle Retirement Savings Crisis

The UK government established a new Pensions Commission to tackle insufficient retirement savings, projected to leave 2050 retirees £800 annually worse off than current pensioners; the commission will investigate barriers to saving and report in 2027.

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What are the key demographic groups most affected by the retirement savings crisis, and what specific challenges do they face?

The commission will examine barriers to adequate retirement savings and report in 2027. Current auto-enrollment, while increasing savers, often results in minimum contributions. The government highlights concerning statistics: three million self-employed individuals lack pension savings, and only 25% of low earners and those from Pakistani or Bangladeshi backgrounds are saving.

pda.kp.ru

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Aug 1, 04:11

Russia Increases Pensions for Working Pensioners

Russia raises pensions for 8 million working pensioners starting August 1st, 2024, adding up to 3 pension points yearly (maximum 437 rubles increase), reinstating inflation adjustments suspended since 2016, impacting millions and addressing past inequities.

Russia Increases Pensions for Working Pensioners

Russia raises pensions for 8 million working pensioners starting August 1st, 2024, adding up to 3 pension points yearly (maximum 437 rubles increase), reinstating inflation adjustments suspended since 2016, impacting millions and addressing past inequities.

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What is the immediate impact of Russia's August 1st pension increase for working pensioners?

Starting August 1st, Russia increased pensions for working pensioners who contributed in 2024, impacting 8 million of the 40 million pensioners. Each year of work adds up to three pension points, with a maximum yearly increase of 437 rubles (one point equals 145.7 rubles) for those earning at least 55,600 rubles monthly.

thetimes.com

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Jul 27, 04:10

UK Policy Changes Undermine Retirement Security

Recent changes to UK taxation (CGT allowance reduction from £12,300 to £3,000) and pension policies (potential reduction in value and earlier increase to retirement age) severely impact long-term financial planning, potentially delaying retirement or causing financial hardship for many.

UK Policy Changes Undermine Retirement Security

Recent changes to UK taxation (CGT allowance reduction from £12,300 to £3,000) and pension policies (potential reduction in value and earlier increase to retirement age) severely impact long-term financial planning, potentially delaying retirement or causing financial hardship for many.

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How do recent changes in UK tax and pension policies directly affect the financial security of individuals planning for retirement?

Recent UK governmental shifts in taxation and pension policies significantly impact long-term financial planning. For instance, the elimination of inflationary CGT relief on property and reductions in the annual CGT allowance have rendered property investment less lucrative for retirement, with Hamptons reporting typical landlords now experiencing losses. Simultaneously, anticipated changes to the state pension, including potential reductions in its value and earlier increases to the retirement age, necessitate greater personal savings for a comfortable retirement.

dw.com

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Jul 24, 19:14

Macedonian Parliament Debates Linear Pension Increase Amidst Political Dispute

Macedonia's parliament debates a proposed linear pension increase of 1,000 denars for all pensioners, sparking controversy between the ruling VMRO-DPMNE and opposition SDSM, who claim it disadvantages higher-pension recipients and affects 92.5% of pensioners negatively.

Macedonian Parliament Debates Linear Pension Increase Amidst Political Dispute

Macedonia's parliament debates a proposed linear pension increase of 1,000 denars for all pensioners, sparking controversy between the ruling VMRO-DPMNE and opposition SDSM, who claim it disadvantages higher-pension recipients and affects 92.5% of pensioners negatively.

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What are the immediate impacts of Macedonia's proposed linear pension increase on different pensioner income groups?

The Macedonian government's proposed linear pension increase, debated in parliament, is projected to provide a 1,000 denar increase for all pensioners. Opposition claims this harms higher-pension recipients who would receive larger increases under the existing formula. The government counters that this linear increase helps lower-income pensioners.", A2="The opposition party, SDSM, argues the linear increase will negatively impact 92.5% of pensioners (over 318,000 people), reducing their payments compared to the previous formula. They presented calculations showing how higher earners will receive less than under the previous system. The ruling VMRO-DPMNE party asserts that the increase benefits all pensioners and reduces income inequality among them.", A3="The debate highlights the challenges of balancing pension fairness and system sustainability in Macedonia. The linear approach reduces disparities between high and low pensions, yet potentially sacrifices benefits for higher-pension recipients. Future adjustments might consider alternative methods of supporting low-income pensioners without altering the overall pension system.", Q1="What are the immediate impacts of Macedonia's proposed linear pension increase on different pensioner income groups?", Q2="How do the opposing political parties justify their positions on the proposed linear pension increase, and what evidence do they use to support their claims?", Q3="What are the potential long-term implications of the proposed linear pension increase for the Macedonian pension system and broader socio-economic landscape?", ShortDescription="Macedonia's parliament debates a proposed linear pension increase of 1,000 denars for all pensioners, sparking controversy between the ruling VMRO-DPMNE and opposition SDSM, who claim it disadvantages higher-pension recipients and affects 92.5% of pensioners negatively.", ShortTitle="Macedonian Parliament Debates Linear Pension Increase Amidst Political Dispute"))

welt.de

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Jul 22, 07:13

Thuringia Nursing Home Costs Surge to Nearly €3,000 Monthly

Monthly personal payments for nursing home care in Thuringia, Germany, reached nearly €3,000 in July 2025, exceeding the national average of €3,108 and highlighting the financial strain on residents, especially pensioners whose average monthly pension is €1,491.

Thuringia Nursing Home Costs Surge to Nearly €3,000 Monthly

Monthly personal payments for nursing home care in Thuringia, Germany, reached nearly €3,000 in July 2025, exceeding the national average of €3,108 and highlighting the financial strain on residents, especially pensioners whose average monthly pension is €1,491.

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What factors contribute to the increasing cost of nursing home care in Thuringia, and what is the role of government subsidies?

The increase in personal payments reflects the rising costs of nursing home care, including expenses for nursing, accommodation, food, and investments. While the nursing insurance covers some expenses, a significant portion remains the responsibility of residents. This burden disproportionately affects those with lower incomes, like pensioners whose monthly income frequently falls short of the required payments.

zeit.de

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Jul 21, 07:11

Low Wages in Germany Threaten Retirement Security

Twenty-point-nine percent of German full-time employees earn below €2,750 gross monthly, impacting retirement security and highlighting income inequality, particularly in Eastern Germany where 60% earn under €3,500.

Low Wages in Germany Threaten Retirement Security

Twenty-point-nine percent of German full-time employees earn below €2,750 gross monthly, impacting retirement security and highlighting income inequality, particularly in Eastern Germany where 60% earn under €3,500.

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How do low wages in Germany affect retirement security and contribute to income inequality?

This low-wage segment significantly impacts future retirement prospects. A monthly gross income exceeding €3,300 is needed to secure a pension above the poverty risk threshold; those earning less than €3,500 are practically guaranteed a poverty-level pension. This is exacerbated by the fact that only 53% of the gross income of over-65s comes from state pensions.

elpais.com

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Jul 19, 13:14

Spain Sees 8.45% Surge in Permanent Disability Pensions, Affecting Public Finances and Businesses

A recent 8.45% surge in Spain's permanent disability pensions between January 2024 and June 2025, reaching 1,025,446, is attributed to a regulatory change delaying retirement pension conversion and a backlog resolution in evaluation tribunals, impacting both public finances and private companies sig...

Spain Sees 8.45% Surge in Permanent Disability Pensions, Affecting Public Finances and Businesses

A recent 8.45% surge in Spain's permanent disability pensions between January 2024 and June 2025, reaching 1,025,446, is attributed to a regulatory change delaying retirement pension conversion and a backlog resolution in evaluation tribunals, impacting both public finances and private companies sig...

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What are the primary causes and immediate consequences of the recent 8.45% increase in permanent disability pensions in Spain?

Between January 2024 and June 2025, permanent disability pensions in Spain surged 8.45%, reaching 1,025,446. This increase is partly due to a change in the age for converting permanent disability pensions to retirement pensions (from 65 to 66.5 years), causing a temporary statistical increase in the number of active pensions. The rise also reflects a backlog of cases resolved after increased resources were allocated to the evaluation tribunals.", A2="The surge in permanent disability pensions is linked to a regulatory change delaying conversion to retirement pensions and a resolution of a backlog of cases in evaluation tribunals. This increase, while statistically significant, doesn't necessarily indicate a rise in new cases, according to the Ministry of Social Security. The situation is further complicated by a parallel increase in temporary disabilities, with companies expected to shoulder €16 billion of the estimated €32.8 billion total cost for absenteeism this year.", A3="Looking ahead, Spain's aging population and the increasing prevalence of long-term illnesses (over 365 days) will likely continue to pressure the permanent disability pension system. The recent regulatory changes, while aimed at streamlining the process, may need further adjustments to effectively address the growing number of long-term disability cases and their financial impact. Further, ongoing efforts to standardize evaluation criteria may help manage the situation.", Q1="What are the primary causes and immediate consequences of the recent 8.45% increase in permanent disability pensions in Spain?", Q2="How do the increased permanent disability pensions relate to the parallel rise in temporary disabilities and the overall cost of absenteeism to Spanish businesses and the public sector?", Q3="What long-term systemic impacts might result from the observed trends in disability pensions, and what policy adjustments could mitigate potential negative consequences?", ShortDescription="A recent 8.45% surge in Spain's permanent disability pensions between January 2024 and June 2025, reaching 1,025,446, is attributed to a regulatory change delaying retirement pension conversion and a backlog resolution in evaluation tribunals, impacting both public finances and private companies significantly.", ShortTitle="Spain Sees 8.45% Surge in Permanent Disability Pensions, Affecting Public Finances and Businesses"))

Showing 13 to 24 of 85 results