The triple-lock on UK state-pensions was always intended to be a response to international comparisons of pensioner poverty... and so, that is how it should be judges as a policy.
A comparison of UK pensioner poverty (still standing at 15% of all state pensioners) with other OECD countries suggests not only should the triple-lock stay, but that especially against European comparators it's yet to achieve a comparable level of financial security for the post-67s.
#pensions #politics #inequality
The rising cost of living is challenging Takaichi’s triumphant rhetoric about Japan’s economy, as inflation causes pain for many, while also ushering in an era of renewed dynamism.Yoshiaki Nohara (The Japan Times)
The Government Pension Investment Fund, one of the world’s largest, had an unprecedented ¥24.1 trillion quarterly gain, an 8.2% return, with assets totaling ¥317.76 trillion.Hideyuki Sano (The Japan Times)
The move shows the fund’s need to increase its expertise in order to deal with volatility in the nation’s debt market.Nao Sano (The Japan Times)
The pension fund, one of the world’s biggest, is putting ¥20 billion into a 10-year fund run by Japanese private quity firm Advantage Partners.Nao Sano (The Japan Times)
' There is only one way forward. The TUC must be forced to call a general strike to bring in a Workers' Government and socialism, under which ...
JUST days before Andy Burnham is installed as PM on Monday, amid much speculation and lobbying about the future policies and the personnel of the Labour government, the International Monetary Fund (IMF) yesterday warned Burnham to avoid a fresh spend…#banks #benefits #britain #labourparty #nhs #pensions #strike #toryparty #tuc
The estimate follows Finance Minister Satsuki Katayama’s call last week for Japan’s large pension funds to increase investment in domestic assets.John Cheng (The Japan Times)
After some years of raised yields on Gilts, the majority of UK pension schemes are now in surplus (and indeed are wondering what they should do with such surpluses).
Well, given when they were in deficit members payments were raised & their benefits reduced, the answer would seem pretty obvious - restore benefits & reduce contributions....
But whether that will happen is another issue; as when this happened many years ago, its likely firms will reduce *their* contributions.
#pensions
h/t FT
Minister of Education Kristina Kallas (Eesti 200) said that as long as the war in Ukraine continues, the budget deficit cannot be reduced ahead of schedule,BYTESEU (Bytes Europe)
If that's really true, then you need to fire your entire web development team.
There is absolutely no way that using an app should be easier than just using the website.
And for the love of all that's holy, why on earth would I want to keep track of my pension "on the go"?
The world has gone completely mad.
Submission of the bill to parliament will be the first such move in 38 years.The Japan Times
Now? The realistic scenario is that world's richest man will tank your #pensions, after condemning millions of poor and sick people to death by cutting aid. You can look forward to working for every plate of food, when you're old and your bones are aching. You don't even get the cash you invested.
Benefits for the #rich & risks for the #poor!
I hate this, but I don't know the solution. The entire system is rigged for a few #sociopaths to splurge, while the rest struggle to survive.
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Once again we're being told (by Lord Richard Walker) that the triple lock on pensions is 'unsustainable' which no doubt will lead to all sorts of claims about baby boomer pensioners living the high-life on the state pension.
well, the state pension is around £12.5k & and so only those with additional private pensions *may* be well off.
But, for those without private provision, the state pension is hardly generous, and still compares badly with other countries!
The defence secretary said the prime minister was ‘unwilling to commit the resources that the nation needs to defend the country’Aneesa Ahmed (the Guardian)
One plan would see young workers offered early access to a slice of future pensions. It’s not perfect, but we need bold ideas, says Guardian columnist Polly ToynbeePolly Toynbee (the Guardian)
Less than 10% of retirees will enjoy a 'comfortable' standard of living (£45k annual pension), with most of the rest reaching a minimum standard (around £14k) while a fifth may reach a 'moderate' level of income (just over £32k).
As debates continue about the triple lock perhaps the key thing is to be clear the notion pensioners in the UK are doing all right is a Westminster Village fantasy, driven by our political class' lack of engagement with the real population!
You'll not be surprised the Pension Commission has concluded that low & medium paid workers are not saving enough for a 'comfortable' retirement;
Its no use telling them about the consequences of not paying into pensions if they haven't enough money to make a choice in any case.
The push of workers into self-employment has also reduced pension saving as the self-employed seldom (now) have made pension provision(s).
Low pay & precarious work has a long shadow.
Between 40,000 and 70,000 people marched through the streets of Brussels on Tuesday. The demonstrators gathered at the call of the country’s three main tradeBYTESEU (Bytes Europe)
