Tag: guaranteed income

What Climbing Interest Rates Mean for Annuities?

What Climbing Interest Rates Mean for Annuities?

Careful scrutiny of your retirement plans requires you to factor in annuities to balance your investment portfolio. Annuities remain reliable investment vehicles to generate a guaranteed income post-retirement. Meticulously planned…

This story originally appeared on Due

Careful scrutiny of your retirement plans requires you to factor in annuities to balance your investment portfolio. Annuities remain reliable investment vehicles to generate a guaranteed income post-retirement . Meticulously planned annuities often replicate monthly paychecks that reflect in the form of salary amidst rising interest rates. Where Will I Start With My Annuities? Well, you might be in a dilemma about when to […]

Guaranteed Income Financial Treatment Trial (GIFTT)

AGENCY:

Social Security Administration. ACTION:

Notice. SUMMARY: We are announcing a demonstration project for the Social Security Supplemental Security Income (SSI) program under title XVI of the Social Security Act (Act). In this project, we will test the effect of providing guaranteed income to adults with cancer in active treatment to learn about its interaction with the SSI program. We will modify the program rules that apply to certain project participants who apply for and who already receive SSI payments under the title XVI program. DATES: We plan to begin this project in March 2023 and end it in […]

Last chance to save on tax for life insurance policies with premium over Rs 5 lakh: Purchase before March 31, 2023

One of the most talked about changes that was brought in the Union Budget 2023 was for the insurance sector where insurance policies with aggregate premiums above Rs. 5 lakh will be taxable.

It is important for individuals to be aware of the changes in tax laws pertaining to life insurance policies and take steps to minimize the impact of these changes on their investment plans. Seeking the guidance of a financial advisor can be helpful in choosing the right insurance policy and investment strategy to achieve financial goals while minimizing tax liabilities.

Currently, all investments made in non-linked saving insurance […]

Senator Cortese’s Bill Giving Guaranteed Income to Homeless High School Seniors Passes First Committee

Senator Cortese’s Bill Giving Guaranteed Income to Homeless High School Seniors Passes First Committee

A bill by Senator Dave Cortese establishing a statewide guaranteed income program for homeless students cleared its first policy committee on Wednesday. In a unanimous vote, the Senate Education Committee advanced SB 333, which would give homeless high school seniors $1,000 a month for five months to help them enroll in college or enter the workforce.

“When homelessness students graduate from high school, a crucial piece of their support system is suddenly removed. Let’s help these young people pursue their dreams – not end up back on the streets,” said Senator Cortese (D-San Jose) . “The no-strings-attached guaranteed income model […]

The World’s Biggest Guaranteed Income Trial Will Launch in India This Year

Universal basic income (UBI) schemes are often dismissed as being too expensive to implement on a large scale, but several cities are trying them out among small subsets of their populations. Giving people even a small financial leg up can go a long way towards bridging the gap between surviving and thriving. The biggest guaranteed income pilot in the US is currently underway in Chicago , where 500 families are receiving $500 per month, with no strings attached, for 12 months.

A far bigger UBI trial will be launching in India later this year. Announced last week by finance minister […]

A rose by any other name?

A rose by any other name?

Offer someone a glass of dihydrogen oxide and they might feel anxious, perhaps even repelled. Give them a glass of water and they’ll willingly quench their thirst.

They are, of course, the same thing. What we name things DOES matter. How we think or feel about something is influenced by what it’s called. Jeff Bezos first registered Amazon under the name Cadabra, until it was pointed out that people misheard it as ‘Cadaver’!

There is a glaring example of the importance of naming in the retirement market. The use of the word ‘annuity’. Since pension freedoms, more people are choosing drawdown […]

Prison reentry pilot program gives participants $500 per month

Prison reentry pilot program gives participants $500 per month

This is a carousel. Use Next and Previous buttons to navigate Sarah Blanton, executive director of 4-CT, speaks at a news conference at Project M.O.R.E. in New Haven on March 28, 2023 announcing a guaranteed income pilot program for formerly incarcerated individuals reintegrating into the community. NEW HAVEN — Some city residents who were recently released from incarceration are receiving $500 a month for a year through a pilot program designed to help with their reentry into daily life.

The program, currently in its pilot phase, is a partnership between the city, 4-CT and Project M.O.R.E. and is privately funded. […]

20 formerly incarcerated individuals will receive guaranteed income for a year in New Haven

20 formerly incarcerated individuals will receive guaranteed income for a year in New Haven

New Haven Mayor Justin Elicker holds his Elm City Resident Card. Each participant will receive an ID, which can be hard to obtain after leaving prison. Twenty formerly incarcerated individuals from New Haven are participating in a guaranteed income pilot program that aims to cut high reincarceration rates.

They will receive a prepaid visa loaded with $500 a month for the next year. They will also receive a city issued ID card, called an Elm City Resident Card.

The 20 recipients are aged between 25-55 and were released from prison in the last year.The project is sponsored by the city of […]

Press Release | Video: City of New Haven, 4-CT, and Project M.O.R.E. Launch Guaranteed Income Pilot Program for Individuals Returning from Incarceration, Among the First of its Kind in the Country

Press Release | Video: City of New Haven, 4-CT, and Project M.O.R.E. Launch Guaranteed Income Pilot Program for Individuals Returning from Incarceration, Among the First of its Kind in the Country

FOR IMMEDIATE RELEASE

PRESS CONTACTS: City of New Haven: Lenny H. Speiller; (203) 725-4249 ; Lspe…@newhavenct.gov

4-CT: Katie Rosa Moher; (203) 521-8499 ; ka…@4-ct.org Mastercard: Max Barnes; (415) 203-2968 ; maximili…@mastercard.com CITY OF NEW HAVEN, 4-CT, AND PROJECT M.O.R.E. LAUNCH GUARANTEED INCOME PILOT PROGRAM FOR INDIVIDUALS RETURNING FROM INCARCERATION, AMONG THE FIRST OF ITS KIND IN THE COUNTRY Twenty individuals to be provided with $500 per month for one year via joint Elm City Resident ID + prepaid Mastercard in effort to promote positive outcomes for reentry population. NEW HAVEN, C.T. – Today, the […]

Buyer’s guide to group personal pension schemes

Buyer’s guide to group personal pension schemes

What is a group personal pension (GPP)?

A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider.

The pension freedoms that were announced in the 2014 Budget, and came into effect in April 2015, gave employees more choices and greater flexibility over their retirement options. Prior to this, a GPP contract ended when the scheme member retired and bought a secure income, an annuity, with the proceeds, with no obligation on the employer to pay retirement benefits to […]