#old age pensions

[if-you-fan-a-fire]

"Commission Forecast To Investigate The Kingston Penitentiary," Kingston Whig-Standard. June 21, 1933. Page 14. ---- Councillor W. R. Aylesworth, Kingston Township, gave notice of a resolution this morning before the County Council "re the Royal Commission to investigate the present day state of affairs, existing at the Kingston Penitentiary." This resolution will come before the Council for consideration during the next few days.

R. A. Hamilton, county clerk, read report of the Mothers' Allowance Commissions and the Old Age Pensions Board. In connection with the former, Mr. Hamilton pointed out that $8.950 was paid out during the past fiscal year to 31 beneficiaries. These families included the total of 70 children, and all but one of the families were British in nationality. Of the $8,950 that the beneficiaries received the County of Frontenac pays 50 per cent, or $4,475. For the month of April, 1933, there were 27 names on the original list, and two were cancel- led. The sum of $765. was spent for the 25 beneficiaries of which the County of Frontenac pays 50 per cent.

Rgarding the Old Age Pensions report Mr. Hamilton pointed out that on April 31, 1933, there were 380 names on the list. The total amount paid out was $6,276.50 of which the County of Frontenac pays 10 per cent, or $627.65.

Acting Warden J. S. Sibbitt, Pittsburg Township, was authorized to arrange for T. J. Rigney, K.C., and W. T. Nickle, K. C., to address the Council in connection with the allocation of expenses incurred by the convict trials.

Councillor J. Storms, Portland, gave notice of a motion appointing R. A. Hamilton, County Clerk, as secretary of the Old Age Pensions Board to sue-ceed the late J. W. Bradshaw.

The council then adjourned until this afternoon for the benefit of committees.

[internationaldayoffamilies]

About Ageing populations.

Declining mortality and fertility rates have resulted in rapid ageing with World Population Prospects indicating that by 2030 nearly 12 per cent of the world population will be 65 years of age or older. By 2050 an average longevity globally is to reach around 77.2 years of age. As population grows older, dependency rations increase adding pressures on social security and public health systems. With longer life spans come higher risks of non-communicable diseases and diminished physical capacity leading to higher care needs. The demand for long-term care is rapidly increasing in many countries with care models relying on families increasingly insufficient.

Meeting of the SDG target 1.3 on old age pensions is not only crucial for older persons but for family well-being overall, especially in the context of extreme poverty and household vulnerability with old age pensions helping to strengthen household’s capacity to care for older persons. Questions of intergenerational equity in an ageing world need more attention in preparation for the Sustainable Development Goals Summit and the Summit for the Future.

Strengthening of intergenerational solidarity is key if we are to tackle the challenge of ageing effectively. With rapid demographic changes responsive policies are needed to safeguard the well-being of families and all its members. While the world is shifting towards older populations, an irreversible trend, collective actions and policymaking can shape its path and consequences to ensure that no family and no-individual are left behind.

UNDESA on International Day of Famiiies 2023

[mostlysignssomeportents]

Biden wants to ban ripoff “financial advisors”

I'll be at the Studio City branch of the LA Public Library on Monday, November 13 at 1830hPT to launch my new novel, The Lost Cause. There'll be a reading, a talk, a surprise guest (!!) and a signing, with books on sale. Tell your friends! Come on down!

Once, American workers had "defined benefits pensions," where their employers promised to pay them a certain amount every year from their retirement to their death. Jimmy Carter swapped that out for 401(k)s, "market" pensions where you have to guess which stocks will be valuable or starve in your old age:

https://pluralistic.net/2020/07/25/derechos-humanos/#are-there-no-poorhouses

The initial 401(k) rollout had all kinds of pot-sweeteners that made them seem like a good deal, like heavy employer matching that doubled or even tripled the value of every dollar you put into the market for your retirement. But over the years, as Reaganomics took hold and workers' power ebbed away, all these goodies were clawed back. In the end, the market-based pension makes you the sucker at the poker table, flushing your savings into a rigged casino that is firmly tilted in favor of finance barons and other eminently guillotineable plutocrats.

Neoliberalism is many things, but most of all it is a cult of individualism. The fact that three generations of workers are nows facing down retirement without pensions that will provide them with secure housing and food – let alone money to see the odd movie, buy birthday gifts for their grandkids, or enjoy a meal out now and then – is framed as millions of individual failures, not a systemic one.

In other words, if you are facing food insecurity and homelessness after a lifetime of hard work, it's because you saved wrong. Perhaps you didn't save enough (through a 40-year run of wage stagnation and skyrocketing housing, health and education costs). Or perhaps you saved wrong, making the wrong bets on the stock market. If you can't afford to run your air conditioner during a heat dome, that's on you: you should have been better at stocks.

Apologists for this system will say that you don't have to be good at stocks – you just have to pay an Independent Financial Advisor to pick the stocks for you and you'll be fine. But IFAs don't work for free! What if you can't afford one?

Enter "predatory inclusion" – the practice of offering scammy, overpriced and substandard products to poor people and declaring it to be a good deed, because otherwise, those poor people would have to do without. The crypto bubble relied heavily on this: think of Spike Lee and others shilling for pump-and-dump scams as a way of "building Black wealth":

https://www.nytimes.com/2021/07/07/business/media/cryptocurrency-seeks-the-spotlight-with-spike-lees-help.html

More recently, Intuit and other scammy tax-prep services have argued against the IRS's plan to offer free tax preparation as bad for Black and brown people, because it will deny them the chance to be deceived and ripped off with TurboTax:

https://pluralistic.net/2023/09/27/predatory-inclusion/#equal-opportunity-scammers

Back in 2018, Trump won the predatory inclusion Olympics, when his Department of Labor let the Fifth Circuit abolish the "Fiduciary Rule" for Independent Financial Advisors:

https://www.investopedia.com/updates/dol-fiduciary-rule/

What was the Fiduciary Rule? It said that your IFN had to put your interests ahead of their own. Like, if there were two different funds you could bet on, and one would pay your IFN a big commission, while the other would be a better bet for you, the IFN couldn't put your retirement savings into the fund that offered them a bribe.

When Trump killed the Fiduciary Rule, he proclaimed it a victory for poor people, especially Black and brown people. After all, if IFNs weren't allowed to accept bribes for giving you bad financial advice, then they would have to make up the difference by charging you for good advice. If you couldn't afford that advice, well, you'd have to make bad retirement investments on your own, without the benefit of their sleazy self-dealing.

The Biden Administration wants to change that. Biden's Acting Labor Secretary is Julie Su, and she's very good at her job. Last spring, she forced west coast dockworkers' bosses to cough up the contract they'd stalled on for a year, with 8-10% raises for every worker, owed retroactively:

https://pluralistic.net/2023/06/16/that-boy-aint-right/#dinos-rinos-and-dunnos

Su has proposed a way to reinstate the Fiduciary Rule, as part of the Biden Administration's war on junk fees, estimating that this will increase retirees' net savings by 20%:

https://prospect.org/labor/2023-11-07-julie-su-labor-retirement-savers/

The new rule will force advisors who cheat their clients to pay restitution, and will require them to deliver all their advice in writing so that this cheating can be detected and punished.

The industry is furious, of course. They claim that "The Market (TM)" will solve this: if you get bad retirement savings advice and end up homeless and starving, then you will choose a different advisor in your next life, after you are reincarnated (I guess?).

And of course, they're also claiming that forcing IFNs to stop cheating their clients will deny poor people access to expert (bad) advice. As the Financial Services Institute's Dale Brown says, this will have a "negative impact on Main Street Americans’ access to financial advice":

https://www.fa-mag.com/news/legal-challenge-predicted-for-new-dol-fiduciary-proposal-75257.html

Here's that rule – read it for yourself, then submit a comment expressing your views on it. The government wants to hear from you, and administrative law requires them to act on the comments they receive:

https://www.federalregister.gov/documents/2023/11/03/2023-23782/proposed-amendment-to-prohibited-transaction-exemptions-75-1-77-4-80-83-83-1-and-86-128

Su is part of a wave of progressive, technically skilled regulators in the Biden administration that resulted from a horse-trading exercise called the Unity Task Force, which divvied up access to top appointments among the progressive wing and the finance wing of the Democratic Party. The progressive appointments are nothing short of incredible – the most competent and principled agency leaders America has seen in half a century:

https://pluralistic.net/2023/10/23/getting-stuff-done/#praxis

But then there's the finance wing's appointments, like Judge Jacqueline Scott Corley, who ruled against Lina Khan's attempt to block the rotten Microsoft/Activision merger (don't worry, Khan's appealing):

https://pluralistic.net/2023/07/14/making-good-trouble/#the-peoples-champion

Perhaps the worst, though, is Biden's Secretary of Commerce Gina Raimondo, a private equity ghoul who did a stint for the notorious wreckers Bain Capital before founding her own firm. Raimondo has stuffed her department full of Goldman Sachs alums, and has sidelined labor and civil society groups as she sets out to administer everything from the CHIPS Act to regulating ChatGPT.

As Henry Burke writes for the Revolving Door Project and The American Prospect, Raimondo's history as a corporate raider, her deference to the finance sector, and she and her husband's conflicts of interest from their massive stakes in companies she's regulating all serve to undermine Biden's agenda:

https://prospect.org/economy/2023-11-08-commerce-secretary-gina-raimondo-undercutting-bidenomics/

When the administration inevitably complains that its popular economic programs aren’t breaking through the media coverage, they’ll have no one to blame but themselves.

The Unity Task Force gave us generationally important policymakers, but ultimately, it's a classic "pizzaburger." If half your family wants pizza, and the other half wants burgers, and you serve them something halfway in between that makes none of them happy, you haven't made a wise compromise – you've just made an inedible mess:

https://pluralistic.net/2023/06/17/pizzaburgers/

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/11/08/fiduciaries/#but-muh-freedumbs

[taxusbaccata6]

[petriichvrs]

𝙻𝙾𝙲𝙰𝚃𝙸𝙾𝙽  :  diagon alley, just broadly  !

"hey, you-" no one can say they don't expect this of her, really. ginny has always been a little prone to skipping over passive and heading straight for outright aggression, though... the harmless little old lady she's directing her current ire towards is a bit of a change in character. you'd almost feel sorry for this current victim of ginny's early morning wrath, but, well- "yeah. you with the sneer. you wanna say that again, a bit louder ? no ?" she doesn't make any move to close the distance between them, letting her words be the force ( and what a force they ARE ; her volume rises the minute she catches the others attention proper, no shame about drawing eyes towards her ) that drives the old witch away before she's even finished, leaving ginny to call, "yeah, that's what i thought you miserable old hag-" at her back, a rant she'd have continued had it not been for the sudden realisation that the audience she has drawn includes a familiar face. without even the good grace to be sheepish when she turns to them, ginny returns to a normal, conversational volume with a cheery, "sorry 'bout that. i've become a bit of a controversial figure, lately."

[bopinion]

2024 / 14

Aperçu of the Week:

"If everyone wanted to help each other, everyone would be helped."

(Marie von Ebner-Eschenbach, Austrian poet and psychologist in the 19th century)

Bad News of the Week:

The whole world fears for the well-being of the Palestinian civilian population in Gaza. Except Israel. The whole world is worried about the local conflict escalating into a full scale Middle East war. Except Israel. Lately, when someone asks me if I've heard "that" from Israel, I have to answer "what do you mean?". Because, as sarcastic as it sounds, there is something to tear your hair out about almost every day.

Take the example of the civilian population in Gaza. The circumstances that led to the deaths of seven World Central Kitchen employees clearly show that the Israeli military deliberately makes no distinction as to who or what it bombs. According to the motto: anyone who is not with us is against us. The fact that there are, of course, many more differentiated positions does not matter.

Take the example of the Middle East conflict. There is open talk of military operations across the country's northern border, i.e. on Lebanese territory. Regardless of the fact that Hezbollah can do whatever it wants in this failed state, Lebanon is a sovereign state. Incidentally, it currently has the highest proportion of refugees in the total population of any country in the world. But so was Syria when Israel effectively annexed the Golan Heights in the "Six-Day War" in 1967 (!). This is still the status quo after almost 60 years. The fact that this is almost universally not recognized by the international community does not matter.

As a German, I'm asked more and more often how Germany justifies being Israel's largest arms supplier after the USA, when these weapons are obviously not only used for defense (which Israel of course sees differently). The justification is simple: historical guilt. And this apparently prevents us from seeing what we don't want to see. Yes, the world would be easier to understand if we could divide it into black and white. That might still be possible with Israel and Iran. But not with Israel and Palestine.

PS: Next week I'll complain about something else - I promise!

Good News of the Week:

Following the successful agreement between the unions and our national train company Deutsche Bahn, there has now been arbitration achieved at the airports and our national air carrier Lufthansa. It should be noted that both will cost a lot of money. Both the generous wage increases and the compensation for reduced working hours through additional staff are expensive. And they will not be covered by coffee money, but by hefty price increases for the customers who (have to) use these means of transportation - in other words, all of us. At least I don't know anyone outside the vacation season who travels for fun but has to get between A and B somehow. Beam me up, Scotty!

Nevertheless, it is good to see that there is now a reasonably solid planning security again. And I'm not just talking about the usual commuters to work, of which I am one. But the logistics themselves. Of people and goods. After all, what I've seen in my environment alone in terms of missed meetings and broken supply chains is also a cost factor. If projects cannot be continued and production comes to a standstill, that costs money. Money from all of us. And very few of us have been asked if we agree. Not to be misunderstood: I don't want to question the great good of the right to strike. However, I am of the opinion that the proportionality of the means must not be lost sight of.

Personal happy moment of the week:

It was a summer weekend at the weekend - with temperatures of almost 30 degrees Celsius in southern Germany. We took advantage of this to kick off the cycling season. Of course, we started with a harmless route that we already knew, and of course to a nice country inn that we also already knew. And we were not disappointed. That will comfort us when the temperatures now drop back down to 2 degrees and it rains. Just a normal April. Good too. And nature is happy.

As I write this...

...I am delighted that we may soon have a fiber connection at home. It makes perfect sense for a household with adults working from the home office and teenagers on the internet. Especially if we usually stream music during the day and a series or movie in the evening. I find this astonishing because we live in a village with a maximum of 200 inhabitants. I hardly think that's profitable. It's more likely to be categorized as an infrastructural measure that a municipality implements for its population. It's nice that in this country we don't always just look at the money.

Post Scriptum

Employers' President Rainer Dulger is stunned by the German government's planned "Pension Package II", because it "now wants to massively increase pension spending once again, even though we are facing the biggest ageing spurt ever seen in Germany". Sounds logical. Especially because the pension system has long been financed not only by the contributions of the working population, but increasingly by subsidies from the tax pot. If fewer and fewer people are working and paying tax, while society is (over)ageing at the same time, this creates a gap. Who should pay for this? Especially when the burden of taxes and contributions is already so high - and not just by international standards?

On the other hand, many pensioners are already living at the limits of what is feasible in view of the constantly rising cost of living. In many cases, it is no longer possible to speak of "living", but rather of "existing". That is sad. Unfortunately, it is no bad joke that some people buy dog food without being able to afford a dog. It must be the task of every society to care for its weak, young and old when they can not do so themselves. Especially if they have done the best they can. But a woman, for example, who has raised several children and then cared for her sick parents is not taken into account by the system. After all, she has never paid into the system - at least not in monetary terms. Old-age poverty is an ugly word. But it is increasingly becoming the bitter reality.

[shadowbannedthehedgehog]

the person who unfortunately gave birth to me is literally throwing a hissy fit and being a whole bitch bc oh no my 21 yr old who is working goes to uni and who is fully capable of using public transportation on their own doesn't want me to wait back for them every evening so we can travel home together whaaaaaaaaaa

[the-busy-ghost]

Heard a Full-Grown Adult who was sitting behind me on the train tonight genuinely say “I don’t know why people are worrying about the cost of living” and honestly even if he was joking, I’m amazed his girlfriend didn’t dump him on the spot

[littlelemontarte]

i want another marco goal

[scudevils]

rangers how are we still this shit 😭😭

[kraeki]

Wait.. hear me out

[wildernessfaery]

venturing out to the big smoke (oxford) and falling in love with every (androgynous) stranger i see

[buoyantsaturn]

sometimes i feel like i need to remind people that like. i am a whole ass adult with a job and a college degree. if you would not find yourself in the same casual circles as me, a 23yo person, then wyd casually messaging me on the internet where i am still just as much of a real person as i am in the real world

[if-you-fan-a-fire]

"BEFORE THE MAGISTRATE," Winnipeg Tribune. April 25, 1942. Page 17. ---- By J.C.R. OLD Samuel couldn't stretch his $20 Old Age pension quite far enough this month. When he went to make some purchases at a grocery store Friday he put three items in his pocket for which he hadn't the cash. At the paying counter clerks noticed that his pockets bulged suspiciously. They investigated, found he had hidden a pound of butter, a tin of condensed milk, a tin of cooked meat, total value 63 cents. At 72, Samuel is almost stone deaf, and when he was hailed into court this morning couldn't hear either the theft charge read out by Howard Maltby, clerk of the court, or, the questions asked by Magistrate Fred Law. At length, by means of exchange of written messages, Samuel was let off on suspended sentence. If he commits the same offense within the next two years he'll be sentenced for the old as well as the new theft. Apparently Samuel doesn't intend to do any such thing, for he left the court room smiling.

[bookmarkquinn]

Old Sid at Risk

By Mark Quinn The Mancunian Poet Old Sid at RiskBy Mark Quinn The Winter sets in, the air filled with cold, nobody visits, nobody’s told. The snow on the ground, the frost in the air, nobody bothered, no-one to care. Politicians enjoy the frost, all at the expense of the pensioner’s cost. They sit in the warmth enjoying the freeze, with the energy companies they so love to please. One-bar…

[sonalj]

How to Check Old-Age Pension Status: Step-by-Step Guide

Old-age pension is a vital government-sponsored program financially supporting senior citizens who have retired from active employment. This pension plan ensures that the elderly have a steady source of income to cover their basic needs, such as medical care, thereby enhancing their overall quality of life and financial security. Understanding how to check old age pension status and also how to check old age pension status online of your old-age pension application is crucial for beneficiaries to stay informed about their financial assistance.

What is Old-Age Pension? A base of government-sponsored welfare initiatives is precisely crafted to extend crucial financial lifelines to senior citizens who have gracefully retired from the time of active employment. By offering a steady income stream, this pension scheme profoundly impacts the lives of elderly individuals, ensuring they can sustainably cover their basic necessities, encompassing not only essential maintenance like food but also requirements such as secure shelter and access to vital medical care.

In essence, the old-age pension program serves as a pillar of social support, ensuring the overall well-being and financial stability of our elderly, reflecting a deep commitment to unity across generations.

How to Check Old-Age Pension Status Online Checking old-age pension status online offers convenience and accessibility. Let us explore how you can easily monitor the progress of your pension application or review your current status with just a few clicks.

Government Pension Portals Visit the Official Portal: Go to the official government pension website to check old-age pension status online. Login or Register: If you already have an account, log in using your credentials. If not, you must register by providing your details, such as name, date of birth, and identification number. Locate the Pension Status Section: Once you have logged in to check your old-age pension status, look for a section labeled ‘Pension Status’ or something similar. Enter Required Information: You might need to enter your application reference number or other personal details to retrieve your status and check your old-age pension status online. View Status: After submitting the required information, your current pension status will be displayed on the screen. This status will inform you whether your application is under review or approved or if additional information is needed.

Mobile Applications Download the App: Government pension services often have official mobile applications on Android and iOS platforms. Search for and download the app from the Google Play Store or Apple App Store. Login/Register: Similar to the web portal, you must log in or create an account. Access Pension Status: Within the app, navigate to the section where you can check the status of your pension. Input Necessary Details: Enter your reference number or other required information. Check Status: The app will display your pension application status.

How Does Old-Age Pension Work? Regular income for eligible senior citizens generally arrives monthly. The funds are paid through various channels, such as bank transfers or direct deposits into pensioners’ accounts. Eligibility criteria usually include age, residency status, and income level. Applicants must submit the required documents and undergo a verification process before receiving benefits. The pension amount may vary based on the country’s specific regulations and the individual’s financial need.

Who Can Apply for Old-Age Pension? Eligibility for old-age pension typically contains various criteria carefully designed to ensure deserving individuals receive the necessary support in their retirement years. It normally includes:

Age Requirement: Applicants must meet a minimum age criterion, often 60 or 65. Residency: Applicants should be residents or citizens of the country offering the pension. Income Threshold: Some programs require applicants to have an income below a certain level. Previous Employment: Certain schemes might require a history of employment or contributions to a pension fund.

How to Apply For Old-Age Pension? Applying for an Old-age pension requires a clear understanding of the necessary steps and documentation. Let us understand the steps to ensure a seamless application process and secure financial support for retirees.

Gather Required Documents: Collect necessary documents such as proof of age, identity proof, income statements, and residency proof. Fill Out the Application Form: Obtain the application form from the official government website or pension office. Submit the Application: Submit your completed application form and the required documents online or at the designated government office. Verification Process: Your application will be verified to ensure all details are correct and that you meet the eligibility criteria. Approval and Notification: Once verified, you will receive a notification about the approval of your pension and the details of your pension payments.