Category: Basic Income

More than half of people tapping pensions cash them out in full, new FCA figures reveal

More than half of people tapping pensions cash them out in full, new FCA figures reveal

More over-55s are tapping their pensions and over half are cashing them out entirely, new official figures reveal.

Nearly 740,000 pension funds were accessed in the 2022-23 financial year, up around 5 per cent from the year before, as people struggled to pay household bills in a period of rising inflation.

Some 56 per cent of pots are being cashed in full – the majority of them worth £10,000 or less, according to new data from the Financial Conduct Authority.Meanwhile 36 per cent were invested in a drawdown plan and 8 per cent were used to buy an annuity in the […]

Paxton sues over guaranteed income for poor — but allows corporate giveaways | Editorial

Paxton sues over guaranteed income for poor — but allows corporate giveaways | Editorial

Harris County Attorney Christian Menefee answers a question from the press during a press conference responding to Texas Attorney General Ken Paxton’s lawsuit challenging the Uplift Harris program, the guaranteed income program, Wednesday, April 10, 2024 at Harris County Administration Building in Houston. Harris County officials called the lawsuit by Paxton a targeted act. Let’s play a game. It’s called, “Which taxpayer-funded giveaway is ‘unconstitutional? ’” with your host, Texas Attorney General Ken Paxton.

Behind Door One is Samsung, the South Korean Big Tech behemoth. The company wanted to add nine facilities to its 1,260-acre site in Taylor, qualifying it […]

Women’s retirement outlook improving but headwinds persist: GSAM

Women’s retirement outlook improving but headwinds persist: GSAM

Women remain at risk of having insufficient retirement income due to additional pressures that they often face compared to men.

A new report from Goldman Sachs Asset Management reveals that women could end up with 24% less in retirement savings than they need, based purely on the cumulative impact of income disparities.

These disparities include decades-long income differences, greater caregiver responsibilities, insufficiency of part-time work, longer life expectancies, and lower benefits from Social Security.Almost three in ten retired women in the survey reported having less than $50,000 in retirement savings, with only 44% reporting more than $200,000. By contrast, 24% of […]

SASSA Basic Income Grant Coming? Check Funding and Implementation Impact

SASSA Basic Income Grant Coming? Check Funding and Implementation Impact

South Africa is grappling with high levels of inequality, unemployment, and poverty amidst a sluggish economy. The ruling ANC faces criticism for the country’s severe poverty rates. However, the party asserts it has a plan to enhance the lives of poor South Africans.

The ANC emphasizes its commitment to tackling the high cost of living, particularly for marginalized groups like the working-class poor. It aims to alleviate the burden on these segments of society through its priorities.

Acknowledging the slow pace of transformation across various sectors of the economy, the ANC highlights the need for interventions to address the high cost […]

Glaze 2: new version of anti-AI scraping tool for artists launches, video defense planned

Credit: VentureBeat made with OpenAI DALL-E 3 Discover how companies are responsibly integrating AI in production. This invite-only event in SF will explore the intersection of technology and business. Find out how you can attend here .

Back in February 2023, a small team of researchers at the University of Chicago studying under computer science professor Ben Zhao released Glaze , a free software tool that uses machine learning to subtly alter the pixels of an artwork provided by a user, changing the way its style is perceived by any AI art generator models that scrape and train on […]

Why isn’t universal basic income more popular? Who would not want an extra thousand dollars per month, besides maybe the one percent?

The reason it isn’t more popular is because anyone who understands math, inflation, and even the most basic economics knows that whatever the number is just becomes the new zero.

Picture an apartment building, where the landlord currently charges an average of $500 monthly rent. Those tenants are low income folks, and that $500 is probably their largest expense. What’s going to happen to the rents when the landlord realizes that every single one of them just got a $1,000/month raise?

“Well, they can afford to just move to a better place now” you’ll say. Except all of the other landlords, […]

Guaranteed Income Gains Traction as Potential Solution to Widespread AI Job Displacement

Guaranteed Income Gains Traction as Potential Solution to Widespread AI Job Displacement

Millions in funding is being invested into artificial intelligence (AI) research and development from large tech giants, and the developers of these tools have entered 2024 with data suggesting rapid adoption rates .

Despite assurances from some researchers in the field , concerns over AI’s potential to displace millions of jobs globally continues to be a worry shared by many professionals.

Prior to departing for the 2024 World Economic Forum in Davos, Switzerland, International Monetary Fund (IMF) Chief Kristalina Georgieva stated in an interview with AFP that AI is expected to affect 60% of jobs in advanced economies, and around 40% […]

Indian Coalition for Basic Income Launched to Help Shape India’s Social Policy Future

Indian Coalition for Basic Income Launched to Help Shape India’s Social Policy Future

Indian Coalition for Basic Income Launched to Help Shape India’s Social Policy Future By Peter Knight

See original post here.

While India is a rich site of several Basic Income Pilots held by Research and Governmental agencies, there is a recent uptrend in the number of cash-based social policies in several states, especially with evidence that shows a marked increase in several indicators of a better life. The time has come in India when the discussion on Basic Income in India is to be taken to the next level. In this context, the Indian Basic Income Coalition (iBIC) was launched […]

Editorial: Nothing uplifting about Ken Paxton’s latest Harris County lawsuit

Editorial: Nothing uplifting about Ken Paxton's latest Harris County lawsuit

Harris County Judge Lina Hidalgo shows the lawsuit filed by Texas Attorney General Ken Paxton challenging the Uplift Harris program last week. The timing of Paxton’s lawsuit is especially cruel just as the motivations are suspect.

Exactly when did Attorney General Ken Paxton feel moved to deny funds to the needy Harris County residents who were expecting to receive checks soon?

Of the many wrongdoings and injustices happening across Texas, why would the state’s chief law enforcement officer target a small program designed to uplift the most vulnerable Texans?On April 9, Paxton’s office filed a lawsuit challenging the […]

The general election is over. The political circle’s

The general election is over. The political circle's

The general election is over. The political circle’s "horse feast," which poured out pork-barreling policies without precise analysis of the effects, has ended. It is expected that the policy wind from the opposition party, which won the general election by a landslide, will blow immediately. The main pledge of the Democratic Party of Korea is the "basic series." Basic income, which distributes 300,000 won to 500,000 won per month to children and adolescents, and welfare support funds, which give 250,000 won to all citizens, were put on the front line. The idea is to solve the low birth rate […]