Money pensions

In some cases, despite their coverage, post offices may not be as efficient as banks in transferring resources from central or local institutions. In Lesotho, for example, post offices are used to distribute old-age pensions. To collect their money, pensioners present their pension books, which contain a photograph of the pensioner as identification, at a local post office branch. However, funds are not transferred electronically to local branches. Instead, post office officials withdraw the funds from central branches and physically distribute them to 291 pay points. This creates additional costs, including providing these officials with security escorts. Also, the delivery of funds is sometimes delayed and pen-... 

Official UN policy states that whenever an employee is dismissed on health grounds they have to propose a disability pension, but they did not do this for me. When I applied for disability benefit and compensation, the secretary general who fired me on health grounds claimed that I was not ill. To this day I am waiting for compensation. For five years I have been living on the proceeds from the sale of my flat, which have lasted longer than I anticipated. I expect I will run out of money sometime in the next year. 

Mendeleev was born in Tobolsk in western Siberia in 1834. His father was director of the local high school and the family lived comfortably. However, all that suddenly changed when Mendeleev was still a child. His father Ivan became blind from cataracts and had to resign his post. He went to Moscow to have them removed and had an operation that was a partial success. He could see again and recognize faces. However, he was still unable to read books and thus couldn t resume his career, and he did not live long after the operation. After his death, of tuberculosis, his widow got his pension, but the money was far from enough to support the family. 

Those families where the family member with the drug problem habitually stole from the house literally described it in terms of predation. Bank accounts were emptied and pension books were stolen, even at the price of leaving the parent without money themselves ... 

Defined-contribution pension schemes take three main forms, which are 401k, profit-sharing, and money-purchase plans. Some employers supplement them with defined benefit plans, employee stock purchase plans, or stock options. 

MONEY-PURCHASE PLANS. Defined-contiibution pension plans include a variant in which the employer promises annually to contribute a certain percentage of salary to each employee s account. These plans, known as money-purchase plans, allow the employer to avoid taxes on as much as 25% of the recipient s salary. In this sense they are comparable to 401k plans. Money-purchase plans, imlike profit-sharing plans, forbid employees to withdraw funds before retirement. 

We all pay tax on the money we earn (income tax). The Government uses tax to pay for services such as health, education, defence, social security and pensions. 

Lanjouw, Milanovic, and Paternostro (1998) demonstrate the importance of carefully considering both equivalence scales and scale economies in their study of seven countries in Eastern Europe and the former Soviet Union. With no equivalence scales, in all seven countries the elderly are less than averagely poorand households with three or more children are poorer than average, sometimes markedly so. Even a modest adjustment to equivalence scales (assuming that children have consumption needs that are 70 to 90 percent those of adults) causes this ranking to be reversed. This matters powerfully for policy should money go to pensions or to child allowances and services for children ... 

Case, Anne. 2001. Does Money Protect Health Status Evidence from South African Pensions. NBER Working Paper 8495. Cambridge, MA National Bureau of Economic Research. 

The mail man came as I was at the school. An old woman ran up with one of these blue pension blanks. She asked me, as she waited for the mail rider to make out a money order, if it was right that she was to get 30 a month as soon as she sent it in. 

Early this morning a Mr. Johnson, a half-brother to Mr. Monroe s wife, came over, bringing some civil war pension papers belonging to his father he wished to know if it was possible for him to get the pension. His father had died in 1908. He had taken it to a white lawyer in Franklinton, but this man had said that there was nothing that could be done about it. Neither do I, for that matter. His father, he said, had warned him not to trust the white folks around here, that they wouldn t help him get his money. 

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