Pensions
in sentence
439 examples of Pensions in a sentence
Much of today’s debates about the future of old-age
pensions
hinges on this uncertainty.
Italy has grasped crucially important reforms in areas like
pensions.
All communist regimes made lavish commitments -- universal pensions, disability pensions, health care, housing -- that bankrupted the economic system.
Roughly 32% of the entire Polish adult population is now made up of pensioners (with an astounding 9% of the adult population on disability pensions).
Generous
pensions
and protectionist laws are becoming permanent features of the landscape.
In any viable long term arrangement, the level of benefits relative to wages should be reduced, retirement ages should be raised to international norms, and eligibility for special
pensions
(disability ones in particular) should be tightened to cover only the truly in need.
To be sure, Bachelet’s proposals for higher corporate taxes, increased welfare spending, greater government control over pensions, and a re-examination of Chile’s participation in the TPP threaten to reverse much of this progress.
Ukraine’s government, moreover, was told to balance its budget by massively slashing state
pensions.
The budget cost of Social Security
pensions
could be gradually reduced by substituting annuities generated by investment-based personal retirement accounts for part of the current tax-financed benefits.
Neither side wants any ambiguity in their message before the election, thus ruling out the possibility of any immediate changes in tax expenditures or future Social Security
pensions.
Putin’s priorities are clear: first come the military, the security apparatus, and the state administration; second are the major infrastructure projects from which he and his cronies make their fortunes; social expenditures (primarily pensions), needed to maintain popular support, come last.
Performance-Based
Pensions
for PoliticiansNEW YORK – When the Speaker of the US House of Representatives, Paul Ryan, retires at the end of his term in January, he will likely qualify for an annual government pension of more than $80,000.
Confident that their own generous
pensions
will be paid out no matter what, politicians like Ryan often advocate measures that weaken the government’s fiscal position.
To restore fairness, the government should follow the private sector’s lead and link politicians’
pensions
to their performance.
Like high-level managers at publicly traded private companies, policymakers who made bad decisions should face clawbacks, in the form of reduced
pensions.
If politicians are receiving
pensions
starting at age 50, as Ryan will, retirement benefits could realistically be paid out for 40-plus years.
Changing demographics spell trouble for so-called pay-as-you-go (PAYG) systems, in which contributions from current workers finance
pensions.
The Financial Times recently called this
pensions
crunch a “creeping social and political crisis.”
Yet hundreds of thousands of Chileans have taken to the streets to protest against low
pensions.
No wonder
pensions
are low.
So a fund accumulated over 15 years of contributions (the average for Chilean women) must finance
pensions
for an expected 30 years.
That combination could yield decent
pensions
only if the returns on savings were astronomical.
Lower returns mean lower
pensions
– or larger deficits.
In response to the recent protests, the government has proposed an additional risk-sharing scheme: some (thus far undecided) part of a five-percentage-point increase in the mandatory retirement savings rate, to be paid by employers, will go to a “solidarity fund” that can finance transfers to people receiving low
pensions.
There are no easy answers to the
pensions
conundrum, whether in Chile or elsewhere.
How they will pay for their parent’s
pensions
and health care is unknown.
Labor mobility is also incomplete without a common
pensions
and benefits system: under current arrangements, a worker who spends five years in France, five years in Greece, and five years in Germany is left with a fragmented collection of small entitlements.
A different view of the world guides the allocation of about 30% of GDP – for employment, health care, education, and
pensions
– in most developed countries.
Pensions
have been reduced by 40%, on average, while the middle class is suffering under the weight of crippling new property taxes.
That is why Syriza has promised to launch a massive new spending program – including free electricity and food coupons for the poor and an increase in state
pensions
to pre-crisis levels – that would cost about 6.5% of GDP.
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