With the new changes, the Government has lifted the ceiling on family pensions and increased the banks’ contribution to the National Pension Scheme (NPS), from 10 to 14 per cent. Earlier, the scheme had slabs of 15, 20 and 30 per cent of the pay of the pensioner. There was...
Based on proposed changes to public sector pensions, contributions will rise by three per cent on average and benefits will be based on career average. Webb confirmed that contracting out will exclu...
Government’s delay to pay gratuity to retirees subjects them to misery and short-changes them as their retirement packages lose value through devaluations and inflation. The 44 percent devaluation of the kwacha announced a couple of days ago has further eaten into their already depleted yet-to-...
Chancellor Jeremy Huntscrapped the LTAfrom April 2023, enabling individuals who had crossed the £1,073,100 threshold to continue saving tax-free into their pensions. The move was aimed at discouraging early retirement, particularly among doctors in the NHS. The changes removed a 55 per cent t...
It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.” [57] “WHO Director-General’s Opening Remarks at the Media Briefing on Covid-19.” World Health ...
This is not the first time that French leaders have tried to balance the pension system, with former presidents Jaques Chirac and Nicolas Sarkozy both attempting the move but failing. The plan is due to go before parliament on February 23, with the government hoping to pass the ...
Between 1957 and 1961, the state’s top income tax ratedoubledfrom 7 percent to 14 percent. In 1966, New York Cityadopted a local income tax, a levy that now has a top rate of nearly 4 percent. Those two changes obviously made the state and the city much less attractive to investors...
Perhaps the simplest and clearest way of showing the problem is to compare the growth of government spending to changes in population plus inflation. As you can see from this chart, the spending burden has grown more than twice as fast as the combined shift in population plus inflation. The ...
French President Emmanuel Macron has ordered his prime minister to use a special constitutional power that skirts parliament to force through highly unpopular pension system changes.
So I believe we need to stop retiring too early (and reduce immigration to what is necessary only) and that will be a tailwind for economic growth. Donna January 29, 2025 Don’t forget the impending changes to Stamp Duty which will impact the housing market and the well-above-inflation Co...