Does outlawing mandatory retirement reduce public-pension benefit claim?

2020 ◽  
pp. 1-15
Author(s):  
Insook Lee
Keyword(s):  
Public Pension ◽  
Mandatory Retirement ◽  
Pension Benefit

Zakat on retirement and pension plans

2015 ◽  
Vol 8 (3) ◽  
pp. 274-290 ◽  
Author(s):  
Shafiqur Rahman
Keyword(s):  
Research Work ◽  
Pension Plan ◽  
Pension Plans ◽  
Mandatory Retirement ◽  
Pension Benefit ◽  
Investment Risk ◽  
Retirement Plans ◽  
Market Place ◽  
Content Type ◽  
Comprehensive Survey

Purpose – This paper aims to compare and contrast alternative pension plans in the market place and their status as zakatable wealth or property. These plans differ in terms of who is responsible for providing funds for pension benefit to the retirees upon retirement and who is responsible for bearing investment risk. Whether a pension plan is subject to zakat immediately or upon receipt at retirement depends on immediate accessibility to and ownership of the funds in the account. It makes no difference whether employer and/or the employee is (are) responsible for funding the plan and who bears the investment risk. Design/methodology/approach – Descriptive and analytical methods were used. Findings – There is consensus among Muslim jurists and shariah scholars that mandatory retirement plans offered as a part of compensation and benefit package for a job are subject to zakat when money is received upon retirement and non-mandatory plans offered as replacement for or supplement to employer-sponsored plans with voluntary employee participation are subject to zakat in each year of employment. Originality/value – There is no prior research work in the extant literature examining zakatability of alternative retirement plans offered in the US marketplace. This paper fills this void and provides a comprehensive survey and analysis of all available retirement plans and their treatment with respect to zakat.

Affordability of public pension benefit: a historical and empirical analysis of US state and local government pension contributions

2015 ◽  
Vol 16 (1) ◽  
pp. 21-42 ◽  
Author(s):  
JUN PENG ◽  
QIUSHI WANG
Keyword(s):  
Empirical Analysis ◽  
Historical Analysis ◽  
State Level ◽  
Public Pension ◽  
Pension Benefit ◽  
Investment Performance ◽  
State And Local ◽  
Public Workforce ◽  
Pension Contribution ◽  
Pension Benefits

AbstractAs a result of the two severe stock market declines since 2000, there has been a steady debate about the affordability of state and local public pension benefits. We measured the affordability of pension benefits in terms of governments’ ability to make the required contributions based on existing tax and revenue bases. We conducted a historical analysis of government pension contributions at national and state level over a 20-year period 1992–2011 and found that the real pension burdens have increased over this period. We also found substantial variation in pension burdens among the 50 states. The results of our empirical analysis showed that employee contribution share, investment return, size of the public workforce, and pension benefit level had significant effects on pension burdens. Based on these findings, we proposed several strategies for reducing pension burdens, including increasing employee pension contribution, reducing size of workforce, and improving pension investment performance.

Konjunkturabhängigkeit der Gesetzlichen Rentenversicherung am Beispiel der aktuellen Finanz- und Wirtschaftskrise

2010 ◽  
Vol 59 (3) ◽  
Author(s):  
Axel Börsch-Supan ◽  
Martin Gasche ◽  
Christina Benita Wilke
Keyword(s):  
Economic Crisis ◽  
Pension System ◽  
Labour Force ◽  
Public Pension ◽  
Pension Benefit ◽  
Contribution Rate ◽  
Public Pension System ◽  
Detailed Simulation ◽  
The Government ◽  
System 1

AbstractThe financial and economic crisis has drawn attention again on the question how sensitive the German public pension system (Gesetzliche Rentenversicherung) reacts to cyclical shocks. We identify three important channels through which business cycle movements may affect the pension system: (1) An effect caused by changes in the wage sum of the insured labour force (Beitragsgrundlageneffekt), (2) an effect caused by changes in the size of the government subsidy (Bundeszuschusseffekt) and (3) an effect caused by changes in the size of the annual pension adjustments (Rentenanpassungseffekt). We quantify these effects for the current financial and economic crisis using a detailed simulation model of the German pension system (MEA-PENSIM). Our simulation results show that the public pension system is able to cope with cyclical shocks in the sense that there are no longrun effects on the pension benefit level or the contribution rate. This cyclical stability is inherent in the system’s pension adjustment formular that links the size of benefits to the development of wages. However, it can be shown that cyclical shocks lead to increases in the contribution rate in the short and medium run. The new law that was passed in spring 2009, which forbids a decrease in nominal pension adjustments in case of decreasing wages (Rentengarantie), extends and intensifies these negative short and medium run effects because it partially offsets the automatic stability mechanism via the wage orientated pension adjustment formula.

scholarly journals Private Saving Determinants in Portugal

2019 ◽  
Vol 10 (2) ◽  
pp. 57-68
Author(s):  
Maria Teresa Medeiros Garcia ◽  
Pedro Nuno Louro Silvestre Rodrigues ◽  
Francisco Nunes
Keyword(s):  
Household Wealth ◽  
Public Pension ◽  
Pension Benefit ◽  
Pension Scheme ◽  
Policy Debate ◽  
Significant Saving ◽  
The Public ◽  
Private Saving ◽  
Household Saving ◽  
Pension Wealth

Abstract The combination of projected increases in the expenditure of the public pension scheme and low rates of private saving constitutes a policy challenge in Portugal. Policy debate embrace pension reform and the redoubling of household saving efforts. The purpose of this paper is to revisit the determinants of household saving in order to inform the debate with research findings, employing a constructed public pension wealth variable in a life cycle consumption/saving model pioneered by Feldstein (1974). We use time series techniques and data from 1983 to 2012. The findings show that an increase in the public pension wealth variable does not boost saving suggesting that concerns with saving to cope with the length of the life expectancy at the retirement age are not enough to reject the view that the public pension benefit is a substitute for household wealth. The other results are consistent with expectations: increases in disposable income positively impact saving; there is a significant negative propensity to save out of household wealth increase; and improvement in the government balance engender significant saving decrease.

An investigation of policy incentives for delaying public pension benefit claims

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tomoki Kitamura ◽  
Kunio Nakashima
Keyword(s):  
Information Provision ◽  
Tax Incentives ◽  
Public Pension ◽  
Internet Survey ◽  
Pension Benefit ◽  
Financial Assets ◽  
Content Type ◽  
Tax Incentive ◽  
Pension Benefits ◽  
Policy Incentives

PurposeThe purpose of this study is to examine the potential and cost of policy incentives for individuals to defer public pension (social security) claims.Design/methodology/approachUsing Internet survey experiments, the impacts of introducing three potential policies to defer public pension claims are examined: (1) a tax incentive for private term pension premiums, (2) a tax incentive for private term pension benefits and (3) a tax disincentive for financial asset holdings. Effectiveness of information provision regarding projection of future financial assets is also examined.FindingsTax incentives have a certain impact on deferment of public pension claims. Among incentives, increase of benefits is the most effective one. Providing information regarding future financial assets reduces incentives.Originality/valueThis study is original in measuring cost for delaying public pension claims according to incentives and information provision.

A Study on Public Pension Accountin Focusing on the Applicability of IPSAS 42

2020 ◽  
Vol 29 (2) ◽  
pp. 1-21
Author(s):  
Bong Hwan Kim ◽  
Joong Gi Ahn
Keyword(s):  
Public Pension
Sign in / Sign up

Export Citation Format

Share Document