The Center could offer financial support to strengthen the overall returns of public subscribers to the national pension scheme in order to make it more attractive. The finance secretary-led panel set up on Friday is likely to consider direct financial support as one of the options, a government official told ET. The pension scheme introduced … Read more
“Some of the best market days occur very close to the worst days.” This is one of the tips in the 2023 Retirement Guide recently published by JP Morgan Asset Management. The guide is the 11th version of this report which, each year, provides an update on the state of the market for future and … Read more
Daniel Miller, the city pensions bureaucrat who lied about a job offer to get a huge raise, keeps his job, but with a 24% pay cut. Miller, 41, deputy executive director of the Board of Education Retirement System, had his salary reduced this month from $262,650 to $200,000, BERS General Counsel Alexander Kazazis told The … Read more
President Joe Biden was adamant in his State of the Union address last month about his support for Social Security. He said emphatically, “If anyone tries to cut Social Security, I’ll stop them. The president has also criticized some Republicans who he says want to allow the United States to default on its debt if … Read more
A growing wave of public pension trustees, business groups and unions is sending a message to Republicans seeking to rein in so-called “woke” investments: Our money, our choice. Regulatory efforts to block money from flowing into funds that consider environmental, social and governance issues, commonly referred to as ESG investments, have typically targeted big Wall … Read more
SmartAsset: Roth 403(b) plan rules, tax benefits and more A Roth 403(b) plan is a type of employer-sponsored, tax-advantaged retirement savings account that combines elements of a Roth IRA and a traditional 403(b). Although these plans share some similarities with 401(k) plans, they have certain characteristics that set them apart. For more practical advice as … Read more
French President Emmanuel Macron wants to raise the retirement age in France from 62 to 64. His plans sparked protests and strikes across France. But in a number of other European countries, people are shaking their heads at the vehemence of the French protests. They already work until old age before they are entitled to … Read more
New Delhi: The Department of Finance had raised concerns about its inability to pay One Rank One Pension (OROP) arrears in one installment and said this could have had tax implications. The Supreme Court, however, agreed to have the government pay dues in three equal installments by February 28, 2024, which was a respite for … Read more
The possibility of increasing a state pension is likely to be an opportunity that many Britons will want to take. It could be possible for many, but with a key deadline to keep in mind that is fast approaching. State pension payments generally depend on the number of eligible National Insurance contributions a person has … Read more
Recently, when a family member died suddenly, I saw financial chaos up close: his wife couldn’t access certain accounts, didn’t have login or banking information, and didn’t even know what credit cards or bills he had. The grieving widow could have been spared the hassle and added stress of finding and accessing her late husband’s … Read more