Tag: guaranteed income

Could Universal Basic Income Work? [INFOGRAPHIC]

Could Universal Basic Income Work? [INFOGRAPHIC]

In a 2018 poll, nearly half of Americans supported the idea of a Universal Basic Income program – where did this idea come from and what would it mean for us? Universal Basic Income is the idea that all citizens are entitled to a livable income. Universal Basic Income has been gaining popularity over time. In 1516, Thomas More’s ‘Utopia’ philosophizes on the benefits of a minimum income . In 1796, Thomas Paine wrote of providing a basic endowment for all adults over the age of 21. In 1967, Martin Luther King Jr. named guaranteed income as the counter […]

Guaranteed Income

Want some peace of mind that you won’t run out of money when you retire?

A guaranteed income for life, also known as an annuity, could be a good choice for you. Using your pension savings to buy a guaranteed income means you get a guaranteed amount of money every year for as long as you live.

You’ll normally be able to take 25% of your pension tax-free, and the rest can be used to buy a guaranteed income for life which will be subject to income tax.The amount of income you get will depend on a number of things […]

What is universal basic income? Here’s how the policy touted by Michael Tubbs and Andrew Yang actually works.

What is universal basic income? Here’s how the policy touted by Michael Tubbs and Andrew Yang actually works.

Among all the 2020 presidential campaign white papers and Medium posts on hot-button issues like gun control, affordable housing, and the environment, it seems like there is no shortage of 2020 policy ideas. Now, universal basic income (UBI) has recently joined the list. UBI has become a more popular concept in recent years as new technologies and economic shifts have caused many traditional manufacturing or service jobs to be automated via robots or software platforms. The logic is, if the government gave people (generally those below a certain income threshold, though not always) a fixed amount of income per […]

Risky Options May Be Coming to Your 401(k)

Risky Options May Be Coming to Your 401(k)

Americans may soon see some welcome changes to the rules governing their retirement savings plans, including the ability to contribute to their individual retirement accounts longer or tap them to help pay for the arrival of a new child.

But the same bipartisan bill could also make retirement planning even more confusing, particularly for workers hoping to recreate the pensions of a bygone era.

Among the two dozen or so rule changes is a provision that is strongly supported by insurance companies but has consumer advocates worried. It would eliminate some of the liability for employers who add annuities to the […]

‘New Democrats’ Outnumber Liberals, But Need Pizazz

'New Democrats' Outnumber Liberals, But Need Pizazz

The media, perpetually mesmerized by ideologues and charisma, have virtually anointed radical leftist Rep. Alexandria Ocasio-Cortez as the future of the Democratic Party. In fact, it should focus on Rep. Derek Kilmer and the House New Democrat Coalition he chairs.

The Progressive Caucus, representing ultra-liberals, numbers 95 representatives. But New Democrats number 101 , including most of the 40 newcomers who took seats away from Republicans in 2018 and 21 who won in 2016 Trump districts.

If the party wants to maintain or enlarge its majority in 2020, it needs to keep attracting independent and some Republican voters, which won’t happen […]

Banks in Canada responding to the unique needs of seniors Français

Advancing financial literacy and providing access to banking services for seniors

TORONTO, June 3, 2019 /CNW/ – June is Seniors’ Month in several provinces and territories across Canada, a time to recognize and celebrate the significant and meaningful contributions of seniors in our lives and in our communities. As the proportion of the senior population in Canada continues to grow, it is more important than ever to engage them in preparing financially for their future years.

"Seniors have always been a significant and growing customer base for banks in Canada," says Neil Parmenter, President and CEO, Canadian Bankers Association. "The […]

Might Universal Basic Income Reduce Obesity?

Might Universal Basic Income Reduce Obesity?

Universal basic income is generating some buzz in this election cycle. Presidential candidate Andrew Yang is pushing this idea of a guaranteed income for every adult. No strings attached. But Alaska already has it. Since 1983, the state’s Permanent Fund Dividend has provided an annual, unconditional, and universal income to Alaskans. What’s more, economists are telling us that it might serve to lower a child’s risk of obesity. Brett Watson, Mouhcine Guettabi, and Matthew Reimer published their analysis last week on SSRN.

A Model from Data on Alaska’s Children and Families

These researchers crunched a lot of data from diverse […]

Reviewing our social welfare scheme

Reviewing our social welfare scheme

Weathering the storm: Improving disaster resilience of rural workers Samurdhi is one of the major welfare schemes in Sri Lanka. It was launched in 1995 with the main goal of reducing poverty through economic development based on public participation. By the end of the 1990s, the program was fully functioning in 21 of the country’s 25 districts.

The program has gone through considerable transformations over the years. More recently, it has been modified to consist two main components – the relief program and the empowerment program. The former includes cash transfer, social security fund, and nutrition. The empowerment program comprises […]

More Consumers Say Yes To Guaranteed Income

More Consumers Say Yes To Guaranteed Income

It’s a choice many people face when they hit retirement age: Keep their funds in a lump sum “nest egg” or put some of that money into a vehicle that provides them with guaranteed income for life.

LIMRA research indicates more people are receptive to the guaranteed income option, but certain consumer segments are more receptive than others.

Having enough money to last a lifetime was the major goal across all financial segments in a recent LIMRA Secure Retirement Institute survey of pre-retirees and retirees. In addition, as many as one-third of pre-retirees said they fear running out of money in […]

The Right to Earn: The Implications Surrounding the Universal Basic Income

Hilary Hoynes, a Professor of Public Policy and Economics at the University of California Berkley, presented on the concept of a Universal Basic Income on the second day of the Economics Festival in Trento. She began by acknowledging that there has been a surge in the number of people who google ‘universal basic income.’ She shared that there is little agreement about what a Universal basic income is and that the attention it is receiving may be running ahead of what problems it seeks to solve.
Hoynes shared that before examining a concept like the universal basic income, it […]