Pension
in sentence
830 examples of Pension in a sentence
There is no simple way to measure the adequacy of a
pension
system.
When it comes to adequacy, mature
pension
systems in developed countries perform well.
Superannuation – a government-mandated private savings plan – does not yet have enough assets to compensate for the country’s relatively parsimonious public
pension
system.
In short, Australia’s
pension
system may be sustainable, but it is unlikely to meet its retirees’ needs.
Since the 1990s, many countries have introduced major
pension
reforms, by and large moving in the same direction: sharing risk among governments, companies, and individuals in a more balanced way.
These efforts are to be commended, but they also need to be strengthened if more countries are to join Finland, Norway, the Netherlands, and New Zealand in having
pension
systems that are both sustainable and adequate.
As any
pension
saver knows, the time to prepare for the future is now.
Moreover, the international economic crisis and tight energy-supplies have taken a toll on confidence, as have tensions over the nationalization of
pension
funds and conflicts with soy producers, who oppose an increase in their already high taxes.
Of course, there is a need to update the
pension
system, or else many of the elderly will remain indigent.
Raising the retirement age to shore up a statutory
pension
scheme is often denounced as unfair, because people with physically demanding jobs, such as nurses and manual laborers, cannot be expected to work until they are 70.
But that is a problem that should be addressed through higher wages and disability insurance, not with
pension
insurance.
The lack of universal coverage also means that workers move in and out of plans as they change jobs; more than one-third of all households end up with no employer-based
pension
coverage.
The countries that outrank the US on the global retirement index in terms of coverage, adequacy of benefits, and long-term sustainability have national
pension
plans in addition to their basic social-security-type programs.
One sector that could lead the way on this commitment is the continent’s
pension
funds, which, together, possess a balance sheet of about $3 trillion.
But there are many more promises to fulfill, including further dismantling of subsidies, trimming the government wage bill at the federal and provincial levels, bringing inflation down to single-digit levels, and making the
pension
system actuarially sound and fairer to younger people.
Moreover,
pension
funds, retirement plans, and non-profit organizations, which receive about 50% of all corporate dividends, do not pay tax on these earnings, and would benefit from a lower corporate-tax rate.
Another problem is that the low interest rates generated by advanced-country central banks’ unconventional monetary policies have led to the “decapitalization” of long-term
pension
funds, thereby reducing the flow of retirement income into the economy.
The idea is to create more freedom for taxpayers to manage their
pension
funds, bringing incentives for the allocation of these monies into stocks and bonds.
Gore prefers to maintain the system essentially as it is and to use the budget surplus to eliminate the deficit in the
pension
system that will open in the second decade of this century, when a wave of baby boomers reaches retirement age.
In other words, Gore sees the
pension
system as a means to redistribute between rich and poor;Bush sees it more as a “private” system to accumulate individual
pension
savings.
In sum, Americans are confronting fundamental differences about the right type of school, pension, and healthcare for the future.
But most sovereign investors – which also include sizeable social security and
pension
funds, such as Saudi Arabia’s General Organization for Social Insurance and Public Pensions Agency – belie clear-cut labels.
Some bank bosses will retire in shame, but with huge payments to ease their pain – such as the $55 million golden parachute handed to Bank of America’s Ken Lewis, with his, and the £25 million
pension
bestowed on Royal Bank of Scotland’s Fred Godwin.
More broadly, the duration of holdings by mutual funds and
pension
funds – America’s core stockholder class – increased during the quarter-century from 1985 to 2010.
The scarcity of savings in the region reflects the weak incentives embedded in poorly designed tax and
pension
systems.
Universities,
pension
funds, churches, banks, and even the heirs to the Rockefeller oil fortune are pulling their money out of fossil-fuel assets or are considering the possibility of divestment – an option made increasingly attractive by the swiftly falling cost of renewable energy.
Meanwhile,
pension
funds, insurance companies, and other institutional investors are increasingly investing in infrastructure.
Instead, after four years of falling real incomes, the government announced deeply unpopular
pension
reforms, which included an increase in the retirement age.
And the Italian Social Security Institute (INPS) has estimated that some €15 billion in contributions to the Italian
pension
system paid by migrants during the last 20 years have been left unclaimed.
Successful
pension
systems often have a solidarity pillar (public) and a contributory pillar (private).
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