Those taxes wouldn't defray my pension for more than a few years--and they've already been used to pay the pensions of those who retired years and years ago.
Norway is salting away a big chunk of its oil income in a State Petroleum Fund to help pay the pensions of its ageing population when oil and gas production tails off.
The short answer is that much of the lending has gone not to guarantee the deposits of deserving savers, nor even to pay the pensions of impoverished old folk or the wages of unpaid miners.
There was a realisation, too, that spending money wisely in the Balkans is not quite the same as spending it freely: if the aim is to keep Mr Djukanovic in power, it must go to pay the pensions of deserving Montenegrins (including the Serb-minded) and so on, not to finance cigarette-smuggling by corrupt members of the regime.
No one ever just shaves back the pay and pensions of the millions working for government, makes sure there are a few less idiot nephews doing no work jobs, no, of course not: announce a large cut in a popular program to show just how important it is that government continually gets ever more to spend.
FORBES: The European Union Will Not Subsidise Broadband. Hurrah!
Australia has its own Future Fund, where it sets aside money to pay for the pensions of public-sector workers.
Since retail fees are significantly greater than the fees pensions pay, the shift of responsibility onto the individual resulted in significantly higher revenues to financial services firms.
Government bodies still have to pay the pensions, regardless of whether they achieve those returns or not.
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The new governors will have to cut to the bone to pay the salaries and pensions of their over-numerous employees.
British proposals to curb the pay and pensions of European civil servants and to freeze certain programmes had been ignored.
And he stressed that the "impending age of austerity" would mean that "the greater job security and relative generous pay and pensions packages enjoyed by public sector workers will soon be a thing of the past".
Low gilt yields, as a matter of arithmetic, also raise the future value of the pensions that companies have promised to pay out.
Another investigation involving the same consultant is underway at the Ohio Bureau of Workers Compensation and while it does not involve a pension fund, the findings of that investigation, including scrutiny of the pay-to-play activities of the fund 145 money managers, will impact pensions.
FORBES: The Future of the Consulting Industry Speech, (September 19, 2005)
With cash running out, the finance ministry will struggle to pay pensions and public-sector wages at the end of June.
Still, given the desperate state of the Ukrainian economy which is fast running out of money to pay public wages and pensions, Ms Tymoshenko did better than might have been expected.
The government says it will no longer pay pensions to people younger than the general retirement aged of 65.
The cost of providing pensions for those with nothing to pay in is borne by the central budget, not the new pension system, so the hidden debt in the system is no longer growing.
After the last one, the annual cost of public pay and pensions eventually swelled by 600 billion rupees.
While pensions in the U.S. pay about 40% of pre-retirement earnings and those in Japan less than 40%, pensions in the Netherlands and Spain pay about 80% and, in Greece, 96%.
And in the pension arena, it is money managers that pay consultants to be hired often to the detriment of pensions.
FORBES: U.S. Institute Senior Delegates�� Roundtable Speech (June 7, 2004 )
With numbers on their side, future generations of pensioners may have the political clout to tear up the system and demand higher pensions ie, that the workers of the time pay more tax.
ECONOMIST: State pension systems that mimic private accounts
They do not understand why they should now pay to maintain the more generous defined-benefit pensions of public-sector employees.
The trade unions and his own Social Democratic left-wingers are already squealing about the government's plans to bring an element of private financing to Germany's pay-as-you-go state pensions, while the opposition has pulled out of the negotiations altogether.
In general, the goodies have come less in the form of pay rises (too visible), than in over-generous pensions and health care, early retirement and the sort of restrictive practices that were chased out of the private sector years ago.
Funded pensions are considerably less exposed to the risk of being plundered by politicians, whereas pay-as-you-go state pensions have a long record of being reduced in value by governments looking to save money, as the Tories themselves did.
With barely enough cash in its coffers to pay pensions and public-sector salaries at the end of August, the finance ministry may raise short-term funds by selling extra treasury bills to the banks, squeezing cash-strapped local companies even harder.
Simple, soften them up with a long campaign about how a pension fund deficit is threatening the future of the company - and therefore their jobs - then ask them to pay more for their pensions.
And its difficulties, such as how to pay for pensions and social entitlements, resemble those of the developed world.
Without that money, the government will run out of cash to pay pensions and public-sector salaries in September, if not sooner.
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