Family Fortunes — A Guide to Saving for Retirement

2002 ◽  
Vol 8 (5) ◽  
pp. 849-885 ◽  
Author(s):  
D. R. Cooper
Keyword(s):  
Social Security ◽  
Standard Of Living ◽  
Lower Standard ◽  
Working Age ◽  
Fixed Proportion

ABSTRACTThe paper investigates the level and incidence of saving required in order to maintain the standard of living that a household experiences whilst of working age into retirement. In order to do this, a model has been constructed that follows the income and expenditure of a household, allowing for tax and social security, as well as changing family circumstances. The model can be used to explain how a household should save in order to achieve a given standard of living in retirement.The author concludes that the usual message, to save a fixed proportion of income throughout a working lifetime, is at best not helpful and at worst could lead to a lower standard of living over the household's lifetime. People can and should manage the timing of their saving and borrowing in order to achieve optimum incomes.

scholarly journals In-work Universal Credit: Claimant Experiences of Conditionality Mismatches and Counterproductive Benefit Sanctions

2020 ◽  
pp. 1-19
Author(s):  
SHARON WRIGHT ◽  
PETER DWYER
Keyword(s):  
Social Security ◽  
Job Search ◽  
Longitudinal Research ◽  
Working Hours ◽  
Unique Contribution ◽  
Working Age ◽  
Micro Level ◽  
Benefit Sanctions ◽  
The Uk ◽  
Over Time

Abstract Universal Credit is the UK’s globally innovative social security reform that replaces six means tested benefits with one monthly payment for working age claimants - combining social security and tax credit systems. Universal Credit expands welfare conditionality via mandatory job search conditions to enhance ‘progression’ amongst working claimants by requiring extra working hours or multiple jobs. This exposes low paid workers to tough benefit sanctions for non-compliance, which could remove essential income indefinitely or for fixed periods of up to three years. Our unique contribution is to establish how this new regime is experienced at micro level by in-work claimants over time. We present findings from Qualitative Longitudinal Research (141 interviews with 58 claimants, 2014-17), to demonstrate how UC impacts on in-work recipients and how conditionality produces a new coerced worker-claimant model of social support. We identify a series of welfare conditionality mismatches and conclude that conditionality for in-work claimants is largely counterproductive. This implies a redesign of the UK system and serves as an international warning to potential policy emulators.

Race, Skills, and Earnings: American Immigrants in 1909

1971 ◽  
Vol 31 (2) ◽  
pp. 420-428 ◽  
Author(s):  
Robert Higgs
Keyword(s):  
Native American ◽  
Eastern Europe ◽  
Unfair Competition ◽  
Standard Of Living ◽  
Central Theme ◽  
Immigration Laws ◽  
New Immigrants ◽  
Lower Standard ◽  
New Immigrant

On December 5, 1910, the Immigration Commission presented its voluminous report to the Congress. Though the report covered a multitude of topics, a central theme was that the “new” immigrants from southern and eastern Europe were earning less than the “old” immigrants from northwestern Europe because the newcomers were willing to accept a lower standard of living. “They were,” the commission concluded, “content to accept wages and conditions which the native American and immigrants of the older class had come to regard as unsatisfactory.” The discovery of such “unfair competition,” along with its other findings, led the commission to recommend legislation restricting the admission of the “new” immigrant groups, and subsequently the immigration laws of 1917, 1921, and 1924 implemented this recommendation.

Social Security Disability Application Experiences of People With Multiple Sclerosis in the United States

2007 ◽  
Vol 9 (4) ◽  
pp. 131-138 ◽  
Author(s):  
Lisa I. Iezzoni ◽  
Long Ngo ◽  
R. Philip Kinkel
Keyword(s):  
Multiple Sclerosis ◽  
Social Security ◽  
Disability Insurance ◽  
The United States ◽  
Legal Assistance ◽  
Income Support ◽  
Social Security Administration ◽  
The Social ◽  
Working Age ◽  
Social Security Disability

Studies suggest that more than half of working-age Americans with multiple sclerosis (MS) are unemployed because of their health. Many turn to public disability insurance for income support, applying through the Social Security Administration for either Social Security Disability Insurance (SSDI), which provides benefits to formerly employed people, or Supplemental Security Income (SSI), which supports impoverished individuals. Anecdotal reports suggest that many patients with MS face considerable problems when applying for federal disability benefits. To gather more systematic information about these experiences, we surveyed 983 working-age people with MS nationwide from May through November 2005. Most (60.2%) were unemployed; 36.4% had federal disability insurance, with 27.8% having SSDI alone. Almost one third (31.3%) had their initial SSDI application denied, and 31.9% used legal assistance when applying for this benefit. Although the time elapsed between SSDI application and approval was <12 months for 60.4% of applicants, 12–23 months passed for 19.8% and 24+ months for another 19.8%. Among people without SSDI, 15.4% had applied for this benefit at some time. Failure to meet disability criteria caused 60.3% of rejections, and inadequate documentation contributed to 32.1%. Neurologists must fully document the breadth of MS-related impairments in their patients' disability applications.

scholarly journals Heading for Retirement? National Insurance, State Pensions, and the Future of the Contributory Principle in the UK

2004 ◽  
Vol 33 (3) ◽  
pp. 347-371 ◽  
Author(s):  
JOHN HILLS
Keyword(s):  
Social Security ◽  
Social Insurance ◽  
Flat Rate ◽  
National Insurance ◽  
Starting Point ◽  
Working Age ◽  
Total State ◽  
The Uk ◽  
The Right ◽  
State Pension

This article discusses the implications of the decline of National Insurance in Britain, witnessed by its declining share of social security spending and steady dilution of the ‘contributory principle’ on which it was originally based. This decline is not accidental: under governments of the Left, arguments for inclusion have predominated, non-contributory benefits expanded and contribution conditions softened; under those of the Right, limited resources have been focused on the poorest through means-testing. From this starting point, the strong arguments in principle for social insurance look much weaker. However, there are also reasons why the system has not been swept away, notably the way in which most of it concerns already accrued state pension rights.The effect of current plans for state pensions is to restore something closer to a flat rate state pension, but with significant complexity. The article suggests a way in which a more transparent system could guarantee a total state pension at a fixed percentage of average earnings. Other National Insurance benefits could either be separated from pensions and absorbed within other working age social security, or the scope of National Insurance could be maintained, but based on a test of participation, not past contributions.

scholarly journals PENERAPAN PANCASILA PERSPEKTIF ISLAM

2020 ◽  
Vol 3 (2) ◽  
pp. 81-101
Author(s):  
Husnul Khotimah
Keyword(s):  
Social Security ◽  
Social Relations ◽  
Social Order ◽  
Standard Of Living ◽  
Direct Impact ◽  
The Third ◽  
The Right ◽  
Social Dependence ◽  
Islamic View ◽  
Open Concept

Regarding Pancasila Values ​​in the Islamic View, the first and second precepts constitute the Metaphysical Fundation, the third and fourth precepts constitute the Instrumental Fundation, and the fifth precepts constitute justice. Therefore we must do: mahasabah (evaluation), murakabah (guarding / supervising), and muhawalah (getting around) Islam as a religion that upholds egalitarianism, which is an open concept of solidarity and social dependence (ta`awun). Islam recognizes the right of all humans to live properly in terms of health, clothing, food, housing and social efforts that are needed regardless of differences in background. Islam also emphasizes the right of everyone to social security at the time of unemployment, illness, disability, widow / widower, elderly or disadvantaged. This standard of living is only possible in a healthy social order, where individuals with individuals, individuals with groups, and groups with groups maintain strong social relations. This has become the spirit of Islam in being responsible and sacrificing one another in order to create a community that shares, helps and helps each other. The piety of the faithful as slaves to Allah (‘abd Allah) boils down to a direct impact on piety in social-horizontal relations. These two aspects characterize the balance of Islamic teachings. Therefore, what should be our thoughts together is that the values ​​of Pancasila are substantially not in conflict with or even in accordance with Islam.

scholarly journals Perceived Environmental Threats and Pro-Environmental Behaviors: Investigating the Role of Political Participation Using a South Korean Survey

2020 ◽  
Vol 17 (9) ◽  
pp. 3244
Author(s):  
Jae Young Lim ◽  
Kuk-Kyoung Moon
Keyword(s):  
Political Participation ◽  
Environmental Protection ◽  
Government Spending ◽  
General Social Survey ◽  
Strong Support ◽  
Standard Of Living ◽  
Environmental Behaviors ◽  
Environmental Threats ◽  
South Korean ◽  
Lower Standard

Climate change and environmental pollution are increasingly ravaging countries around the world. This study examines the direct effects of perceived environmental threats and political participation, as well as their joint effects, on individuals’ support for a lower standard of living and the increased government spending necessary for environmental protection. Using the 2014 South Korean General Social Survey and an ordered probit, the study finds that individuals’ perceptions of environmental threats are associated positively with their support for government spending and a lower standard of living. Political participation is statistically significant and positive only in its relationship with support for a lower standard of living. Nevertheless, political participation is a powerful moderator and amplifies positive relationships between individuals’ perceptions of environmental threats and their support for a lower standard of living and government spending on environmental protection. In estimating predicted probabilities of strong support, perceived environmental threats and political participation jointly increased support for lower living standards by 35.67% and for government spending by 69.58%.

Timing it right or timing it wrong: how should income-tested benefits deal with changes in circumstances? : Winner ‐ 2019 Best Paper Prize of the Foundation for International Studies on Social Security (FISS) sponsored by the Journal of Poverty and Social Justice

2020 ◽  
Vol 28 (1) ◽  
pp. 3-20 ◽  
Author(s):  
Jane Millar ◽  
Peter Whiteford
Keyword(s):  
Social Justice ◽  
United Kingdom ◽  
Social Security ◽  
International Studies ◽  
Adjustment Problems ◽  
The United Kingdom ◽  
Welfare Systems ◽  
Working Age ◽  
Changing Patterns

This article examines the challenges in designing income-tested benefits for people of working age. This is particularly difficult in the context of changing patterns of work and volatility in earnings and income. Matching benefits to needs requires timely assessment and payment. We compare the treatment of timing issues in the working-age welfare systems of the United Kingdom and Australia. The article discusses how these different but similar systems deal with the timing of income receipt and benefit adjustment, problems of overpayment and debt, and draws out some lessons for the design of income-tested provisions.

scholarly journals Effects of Vocational Re-training on Employment Outcomes Among Persons with Disabilities in Germany: A Quasi-Experiment

2019 ◽  
Vol 30 (2) ◽  
pp. 221-234
Author(s):  
Nicolas Echarti ◽  
Esther Schüring ◽  
Cathal O’Donoghue
Keyword(s):  
Social Security ◽  
Training Program ◽  
Work Participation ◽  
Unemployment Benefits ◽  
Persons With Disabilities ◽  
Inverse Probability ◽  
Working Age ◽  
Inverse Probability Weighted ◽  
Regression Adjustment

AbstractPurpose To investigate how completing vocational re-training influenced income and employment days of working-age people with disabilities in the first 8 years after program admission. The investigation also included the influence of vocational re-training on the likelihood of receiving an earnings incapacity pension and on social security benefit receipt. Methods This retrospective cohort study with 8 years follow up was based on data from 2399 individuals who had completed either a 1-year vocational re-training program (n = 278), or a 2-year vocational re-training program (n = 1754) or who were admitted into re-training but never completed the program (n = 367). A propensity score-based method was used to account for observed differences and establish comparability between program graduates and program dropouts. Changes in outcomes were examined using the inverse probability-weighted regression adjustment method. Results After controlling for other factors, over the 8 years after program admission, graduates of 1-year re-training, on average, were employed for an additional 405 days, 95% CI [249 days, 561 days], and had earned €24,260 more than without completed re-training, 95% CI [€12,805, €35,715]. Two-year program completers, on average, were employed for 441 additional days, 95% CI [349 days, 534 days], and had earned €35,972 more than without completed re-training, 95% CI [€27,743, €44,202]. The programs also significantly reduced the number of days on social-security and unemployment benefits and lowered the likelihood of an earnings incapacity pension. Conclusion Policies to promote the labor market re-integration of persons with disabilities should consider that vocational re-training may be an effective tool for sustainably improving work participation outcomes.

Social Security Disability Benefits: Characteristics of the Approved and Denied Populations

2020 ◽  
pp. 104420732093353
Author(s):  
David A. Weaver
Keyword(s):  
Social Security ◽  
Work Capacity ◽  
Veterans Affairs ◽  
High Rate ◽  
Program Participation ◽  
Disability Benefits ◽  
Work Health ◽  
Working Age ◽  
Social Security Disability Benefits ◽  
Social Security Disability

Using new data from the 2014 Survey of Income and Program Participation, I estimate that about 24 million individuals between the ages of 18 and 66 years have applied for Social Security disability benefits at some point in their lives. This population is about evenly divided among those who have ever received benefits from the program (beneficiaries) and those who have been denied. Those who have been denied benefits have only somewhat more favorable health circumstances than beneficiaries. Furthermore, relative to the general working age population, I find that the denied group has a high rate of poor health, high levels of poverty, and limited earnings. I also examine subpopulations of the denied group, finding that those who have been denied Social Security but who have received Supplemental Security Income disability face less favorable circumstances and those who have been denied Social Security but who have received Veterans Affairs, Workers Compensation, or private disability benefits have more favorable circumstances. Currently, no federal program or policy specifically targets work, health, or poverty outcomes of the denied Social Security population. Possible initiatives to improve outcomes, however, would need to take into account the underlying health conditions and work capacity of the population documented in this study.

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