Tag #Retirement Benefits

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zeit.de

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Jun 5, 19:14

German Court: Voluntary Pension Contributions Don't Count Toward Basic Pension

The German Federal Social Court ruled that voluntary pension contributions don't count toward the basic pension, rejecting a 77-year-old's claim; this decision highlights the difference between mandatory and voluntary contributions in Germany's pension system and affects 1.27 million recipients of t...

German Court: Voluntary Pension Contributions Don't Count Toward Basic Pension

The German Federal Social Court ruled that voluntary pension contributions don't count toward the basic pension, rejecting a 77-year-old's claim; this decision highlights the difference between mandatory and voluntary contributions in Germany's pension system and affects 1.27 million recipients of t...

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What are the immediate consequences of the BSG's ruling on German pensioners who made voluntary contributions to the pension system?

The German Federal Social Court (BSG) ruled that only contributions from mandatory statutory pension insurance, not voluntary contributions, count toward the calculation of the basic pension after at least 33 years of insurance. A 77-year-old retiree's lawsuit to include his voluntary contributions was rejected because only 230 months of mandatory contributions were recorded, not the required 396. This decision upholds previous court rulings.

forbes.com

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May 16, 19:14

Proposed FERS Changes to Increase Employee Contributions and Alter Pension Calculations

Proposed changes to the Federal Employees' Retirement System (FERS) will increase employee contributions, alter pension calculations, and end early retirement supplements for most employees, impacting retirement planning and potentially reducing benefits for current and future federal workers.

Proposed FERS Changes to Increase Employee Contributions and Alter Pension Calculations

Proposed changes to the Federal Employees' Retirement System (FERS) will increase employee contributions, alter pension calculations, and end early retirement supplements for most employees, impacting retirement planning and potentially reducing benefits for current and future federal workers.

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What long-term effects might these FERS changes have on the federal workforce's recruitment, retention, and overall morale?

These FERS changes will likely lead to increased financial strain on federal employees, potentially driving some to work longer or explore supplementary income streams to offset reduced retirement benefits. Further, it may discourage individuals from seeking government employment, as the retirement package becomes less attractive compared to the private sector. This may create challenges in attracting and retaining qualified personnel within the federal workforce.

cbsnews.com

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Apr 15, 19:17

Biden Addresses Social Security Concerns Amidst Trump Administration Cuts

Former President Joe Biden will deliver his first public address since leaving office at the Advocates, Counselors, and Representatives for the Disabled conference in Chicago on Tuesday, focusing on protecting Social Security amid concerns about the Trump administration's cuts to government programs...

Biden Addresses Social Security Concerns Amidst Trump Administration Cuts

Former President Joe Biden will deliver his first public address since leaving office at the Advocates, Counselors, and Representatives for the Disabled conference in Chicago on Tuesday, focusing on protecting Social Security amid concerns about the Trump administration's cuts to government programs...

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What is the immediate impact of former President Biden's address on the ongoing debate surrounding Social Security?

Former President Biden will deliver his first public address since leaving office at a Chicago conference focused on protecting Social Security on Tuesday evening. His appearance follows the 2024 election losses for Democrats and amidst concerns about the Trump administration's cuts to government programs, including Social Security. The conference also features other prominent speakers, including former Social Security Commissioner Martin O'Malley.

t24.com.tr

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Mar 14, 13:11

İyi Party's Welfare Bill: Minimum Wage, Pensions, and Tax Adjustments

The İyi Party submitted a "Welfare Package Bill" to the Turkish parliament proposing a minimum retirement pension equal to at least the net minimum wage, using national income inflation for minimum wage calculations, increasing tax brackets, partially providing a promised bonus to retired civil serv...

İyi Party's Welfare Bill: Minimum Wage, Pensions, and Tax Adjustments

The İyi Party submitted a "Welfare Package Bill" to the Turkish parliament proposing a minimum retirement pension equal to at least the net minimum wage, using national income inflation for minimum wage calculations, increasing tax brackets, partially providing a promised bonus to retired civil serv...

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How does the bill address the government's criticism regarding budget implications, and what alternative approach does it propose?

The bill addresses concerns about insufficient wage increases in the face of high inflation (above 60 percent). It proposes adjustments to tax brackets, increasing the lower limit from 158,000 TL to 415,000 TL, and a partial retroactive payment of a previously promised 8,077 TL bonus to retired civil servants. Additionally, the holiday bonus for pensioners would be raised to half the minimum wage.

forbes.com

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Feb 20, 16:10

Social Security Fairness Act Accelerates Trust Fund Depletion

Congress passed the Social Security Fairness Act in late 2024, repealing the government pension offset and windfall elimination provisions, retroactively increasing Social Security benefits for approximately three million people who also receive pensions from non-covered jobs, which will accelerate ...

Social Security Fairness Act Accelerates Trust Fund Depletion

Congress passed the Social Security Fairness Act in late 2024, repealing the government pension offset and windfall elimination provisions, retroactively increasing Social Security benefits for approximately three million people who also receive pensions from non-covered jobs, which will accelerate ...

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How did the 1983 Social Security reforms lead to the creation of the provisions repealed by the Social Security Fairness Act?

The 1983 Social Security reforms included provisions to address overpayments to individuals with both Social Security-covered and non-covered employment. The recent repeal of these provisions rectifies a perceived inequity, but at the cost of increased financial strain on the Social Security system. The calculations for Social Security benefits were changed in 1983 because of concerns that the system was skewed in favor of lower-income workers who received pensions from non-covered jobs.

lemonde.fr

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Jan 7, 07:06

French Basic Pensions Rise 2.2% in January 2025

French basic pensions rose by 2.2% in January 2025 due to inflation, impacting most retirees but with variations; supplementary pensions also saw increases.

French Basic Pensions Rise 2.2% in January 2025

French basic pensions rose by 2.2% in January 2025 due to inflation, impacting most retirees but with variations; supplementary pensions also saw increases.

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How did the 2024 political climate influence the timing and implementation of the 2025 pension increase?

The 2.2% increase in French basic pensions in January 2025 follows government announcements and revisions, impacting various retirement schemes. The adjustment, based on inflation, affects most retirees but varies by profession.

sueddeutsche.de

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Jun 5, 19:13

German Court Rules Voluntary Pension Contributions Don't Count Toward Basic Pension

The German Federal Social Court rejected a 77-year-old's appeal to include voluntary pension contributions in his basic pension calculation, ruling that only mandatory contributions count toward the minimum 33-year requirement; the court upheld the existing system, highlighting differences between m...

German Court Rules Voluntary Pension Contributions Don't Count Toward Basic Pension

The German Federal Social Court rejected a 77-year-old's appeal to include voluntary pension contributions in his basic pension calculation, ruling that only mandatory contributions count toward the minimum 33-year requirement; the court upheld the existing system, highlighting differences between m...

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What are the immediate implications of the court's decision on German pensioners who made voluntary contributions toward their retirement?

The German Federal Social Court ruled that only contributions from mandatory statutory insurance, not voluntary contributions, count toward the calculation of the basic pension after at least 33 years of insurance. A 77-year-old retired man's claim was rejected because he lacked the required 33 years of mandatory contributions, despite making voluntary payments for many years.

us.cnn.com

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May 10, 19:10

House Republicans Propose Cuts to Federal Employee Retirement Benefits

The House Republicans' plan to cut \$50 billion from the federal retirement system over the next decade by increasing contribution rates and altering benefit calculations could cause many federal workers to retire early to secure their current benefits, potentially leading to staffing shortages.

House Republicans Propose Cuts to Federal Employee Retirement Benefits

The House Republicans' plan to cut \$50 billion from the federal retirement system over the next decade by increasing contribution rates and altering benefit calculations could cause many federal workers to retire early to secure their current benefits, potentially leading to staffing shortages.

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What immediate impact will the proposed changes to federal employee retirement benefits have on the federal workforce?

House Republicans are proposing changes to federal workers' retirement benefits, aiming for \$50 billion in savings over 10 years. This involves increasing contribution rates and altering benefit calculation formulas, potentially causing many eligible workers to retire early to secure current benefits.

cbsnews.com

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Mar 29, 04:08

Social Security Changes Spark Anxiety Among Iowa Seniors

In North Liberty, Iowa, concerns about Social Security are growing as the agency faces staff cuts, increased wait times, and new identity verification rules, impacting millions of recipients, including Anne Bacon, who relies on the benefits for her brother's care.

Social Security Changes Spark Anxiety Among Iowa Seniors

In North Liberty, Iowa, concerns about Social Security are growing as the agency faces staff cuts, increased wait times, and new identity verification rules, impacting millions of recipients, including Anne Bacon, who relies on the benefits for her brother's care.

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How are recent changes to the Social Security Administration, including staff cuts and new verification procedures, impacting beneficiaries and increasing their anxieties?

In North Liberty, Iowa, anxieties about Social Security are rising due to the aging population and recent agency changes. Anne Bacon, reliant on Social Security for her brother's care, experienced a six-hour phone wait in January, highlighting the doubled average wait time of 104 minutes. Reductions in agency staff and new identity verification requirements are adding to concerns.

forbes.com

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Feb 26, 16:12

Working Past 62: How It Impacts Social Security Benefits

Working past age 62 can increase Social Security retirement benefits by replacing lower-earning years in the 35-year calculation; the increase depends on the earnings difference and income level, with a study showing that working longer can significantly improve retirement income.

Working Past 62: How It Impacts Social Security Benefits

Working past age 62 can increase Social Security retirement benefits by replacing lower-earning years in the 35-year calculation; the increase depends on the earnings difference and income level, with a study showing that working longer can significantly improve retirement income.

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What factors determine the magnitude of benefit increases from working past age 62, and how do these factors vary among different income groups?

The impact of working past 62 depends on individual earning history. Those with fewer than 35 years of substantial earnings will see a more significant increase as additional years replace zero-income years. Conversely, those already having 35 high-earning years may see minimal benefit increases. The magnitude of the increase correlates directly with the difference between the new earnings and the earnings of the year replaced.

mk.ru

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Jan 15, 16:10

Russian Pension Indexation Fails to Keep Pace with Inflation

In 2023, Russian pensions increased by 7.5% to an average of 23,405 rubles, but near 10% inflation eroded purchasing power; proposed solutions include a minimum pension and quarterly indexation adjustments.

Russian Pension Indexation Fails to Keep Pace with Inflation

In 2023, Russian pensions increased by 7.5% to an average of 23,405 rubles, but near 10% inflation eroded purchasing power; proposed solutions include a minimum pension and quarterly indexation adjustments.

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How do economists assess the impact of the proposed 2.4-2.5% pension increase on inflation and pensioners' financial situation?

The 7.5% pension indexation failed to keep pace with the near 10% inflation rate in 2023. A subsequent 2.4-2.5% increase is planned, but economists predict this will only fuel further price increases, leaving pensioners vulnerable.

abcnews.go.com

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Jan 5, 19:06

Social Security Fairness Act Signed, Hastening Fund Insolvency

President Biden signed the Social Security Fairness Act, boosting payments for nearly 3 million public employees by repealing provisions that reduced benefits for those receiving other pensions, though this will hasten Social Security's insolvency.

Social Security Fairness Act Signed, Hastening Fund Insolvency

President Biden signed the Social Security Fairness Act, boosting payments for nearly 3 million public employees by repealing provisions that reduced benefits for those receiving other pensions, though this will hasten Social Security's insolvency.

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What immediate impact will the Social Security Fairness Act have on public employees and the Social Security system?

President Biden signed the Social Security Fairness Act, increasing payments for nearly 3 million current and former public employees. This resolves a long-standing disparity in benefits for those receiving pensions from public service, impacting Social Security's financial stability.

Showing 1 to 12 of 20 results