"The total cost of the more generous but later pension is the same as the cost of the current less generous but earlier pension", Mr Ralfe says.
He also worries that the pension changes could cost the city hundreds of thousands in legal fees defending a likely court challenge by the unions.
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What this means is that when the income generated by bonds falls, as it has been doing, any pension fund would theoretically have to hold massively more of those bonds to meet the cost of future pension payments.
On the other hand, a corrupt or inept consultant can cost a pension billions.
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Meanwhile, the cost of pension top-ups will eat into companies' earnings and thus depress share prices further.
From our investigations we have observed that corrupt practices can easily cost a pension 10% of its value over time.
Such actions could cut off the bank from certain investors like pension funds and ultimately cost it its charter to operate in the United States.
If we are right, then the true cost of pension consultant corruption is enormous and cleaning up the consulting business should be of paramount importance to the country.
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Allied to the effect of people living longer, and the greater cost of pension regulation, the NAPF predicted that even more schemes would close in the coming years.
In February, Colorado lawmakers passed a bill that reduced the pension system's cost-of-living adjustment from a fixed 3.5% a year to a maximum of 2% but possibly less for current and future retirees.
It called on a report on the differences in the cost of pension provisions arising from health inequalities to come before the assembly within a year of the act receiving Royal Assent.
Major Wall Street money managers and affiliates of the money managers acting as independent fiduciaries have parceled out pension portfolios to high cost, poor performing firms with whom they have longstanding, undisclosed business arrangements.
Calculating the cost of a pension scheme depends on two key assumptions.
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Public pensions support private equity because private equity managers pay hundreds of millions to political operatives for that support and pass the cost onto the pension participants and, of course, taxpayers.
The ROH had warned that if it did not take steps to curtail the cost of its pension scheme, then its own contribution rate might have to rise from 15% of salaries to 26%, which it said it could not afford.
His public confession of fear that the monetary union would inevitably produce an economic crisis not only cost him his job, he says, it also cost him his pension, and he was barred from his office even before his dismissal was official.
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Every year the cost of national pension payments for these persons will increase by JPY 2.4 trillion, equivalent the revenues from a one percent sales tax. (The actual national sales tax rate is five percent, so we are talking about the equivalent 20% of current revenues.) Consider that today, 50 percent to pension payments are financed by issuing government debt.
Unions suggest that money for the pension system should come from higher taxes or charges on those who are still working, and see cost-cutting in the pension system as an attack on their way of life.
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Mr. SOLOMON: The package that lured us decade after decade was our pension and health care at no cost.
Overall, the system will mean the cost of the state pension to the government is unlikely to change much.
The port, the third largest in the UK, was also affected by the increasing cost of dealing with pension deficits.
According to Watson Wyatt, the average cost of running a pension fund has increased by 50% over the past five years.
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The aim has been to cut the cost of running the pension schemes, which has been rising partly because people have been living longer.
Even if a person is fortunate enough to have a pension, many pension plans do not have a Cost of Living Adjustment (COLA) provision, so purchasing power goes down each year.
The total is JPY 220 trillion of which an astonishing JPY 82 trillion is interest and principal payment on the national debt and JPY 63 trillion the cost of the state pension, health care, and nursing care system.
Never before in the short history of pension asset management have such high-cost, high-risk investment products proliferated pensions.
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The opposition parties favour rebuilding the state pension in effect passing the cost of Britain's ageing population on to tomorrow's taxpayers.
Fire the high-paid hedge fund managers and investment consultants and convert all state pension plans to 100 percent low-cost index funds.
Prevention aside, Hevesi's suit cost New York's pension fund by deflating the value of its investments in the banks it sued.
The employers' report says they will consider asking staff to pay higher pension contributions, partly to offset the cost of increased longevity.
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