Tag: guaranteed income

Basic Income: A timely solution to the imminent welfare crisis?

Basic Income: A timely solution to the imminent welfare crisis?

Universal Basic Income, or Citizen’s Income, is the idea of guaranteed a monthly payment, paid equally to all citizens, what some are calling ‘money for free’ [1]. It is an idea which is steadily gaining traction, it is now Green Party policy [2], and has the backing of the SNP’s National Conference [3]. Basic Income is one policy which seems to most capture the spirit of unbridled optimism of the Yes Movement: a remedy for the ills of late stage capitalism and the economic challenges presented by continued automation. It is also seen as a commonsense solution to our […]

Similar to Ontario, shoud Vancouver launch Basic Income pilot project?

What is a basic income

A basic income is a payment to eligible families or individuals that ensures a minimum income level, regardless of employment status.

Different than social assistance, a basic income can be: given to anyone who meets the income eligibility criterion given to someone who may be working but earning below the basic income level generally simpler to administer Participants Participants must be: invited to join the pilot 18 to 64 years old living in one of the selected test regions for the past 12 months or longer living […]

Erkunde Justin Trudeau, Canada Eh und noch mehr!

Erkunde Justin Trudeau, Canada Eh und noch mehr!

Canada Will Experiment With Basic Income — Giving Out Salaries Just for Being Human | Mic Finland experiments with giving away free money – POLITICO What happens if we pay everyone just to live? Think universal basic income is a pipe dream? Experiments all over the world are already showing its potential to transform society for the better. Melissa Marshall brings a message to all scientists (from non-scientists): We’re fascinated by what you’re doing. So tell us about it — in a way we can understand. In just 4 minutes, she shares powerful tips on presenting complex scientific ideas […]

The Relationship Between Guaranteed Income and Safe Withdrawal Rates — Oblivious Investor

The Relationship Between Guaranteed Income and Safe Withdrawal Rates — Oblivious Investor

(Source: www.obliviousinvestor.com )

Spending from your portfolio in retirement is always a balancing act between two competing goals:

> Minimize the likelihood of depleting your portfolio during your lifetime (i.e., don’t overspend), and Have as high a standard of living as possible (i.e., don’t underspend and end up with a giant pile of unspent money when you die). In a recent paper David Blanchett of Morningstar looked at how that balancing act is affected by the portion of your spending that comes from guaranteed sources (e.g., Social Security, pension, lifetime annuities) as opposed to from a portfolio of stocks/bonds with […]

Blanchett Paper on ‘Impact of Guaranteed Income on SWR’

This subject is frequently discussed here, although usually in a tangential way regarding safe withdrawal rates & methods, what percentage of one’s FIRE income is "guaranteed", whether to use ‘fixed’ or ‘variable’ withdrawals, and the like.

However, this paper analyzes it directly and produces some outputs & guidance that are useful for a range of scenarios that fit most situations. It also analyzes & compares ‘past’ results (back testing) with ‘forward looking’ results (actual forecasting), which I find especially useful. It’s well worth a read and, for me, prompted some thought about our current FIRE income/SWR approach. The […]

Partial DB to DC transfers may suit scheme switch sceptics

Partial DB to DC transfers may suit scheme switch sceptics

When a client asks whether they should transfer their defined benefit (DB) pension, the answer is often clear cut. Most people lucky enough to have a DB pension will be best advised to stick with it.

Equally, for the very wealthiest clients, a transfer to the flexible world of defined contribution (DC) is likely to better suit their needs than a guaranteed (but inflexible) DB income. But what about those in the grey area? Could a partial transfer be the answer?

Jail break Financial Conduct Authority (FCA) rules state an adviser’s starting assumption should be that a DB transfer is […]

Federal benefits workers told to stay offline when vetting applications

OTTAWA – Federal workers whose job it is to determine whether someone is eligible for employment, disability or seniors’ benefits have been told to stop being amateur sleuths by searching the Facebook profiles of applicants.

The order came after senior officials learned that staff were logging on to social media websites to check on any suspicions they had with someone’s application for Canada Pension Plan disability benefits.

And now other benefit programs — employment insurance, seniors’ benefits like old age security and the guaranteed income supplement — have been subjected to the same reminder.The only personal information the department is […]

Is Universal Basic Income the Best or Worst Idea Ever?

Is Universal Basic Income the Best or Worst Idea Ever?

A rally in favor of the defeated Swiss referendum; there are eight million coins here, one for each Swiss citizen. We’ve mentioned the idea of Universal Basic Income, or universal income guarantee , here before at Big Think. You might say that we enjoy mentioning it a lot . The idea goes back to the 1400s and has been taken up by many big thinkers throughout history, from Martin Luther and Martin Luther King to Thomas Moore and Milton Friedman .

But, what do the polls say? Do people actually want this, no matter what the experts argue? Support […]

Silicon Valley is experimenting with a Universal Basic Income — and we should pay attention

Silicon Valley is experimenting with a Universal Basic Income — and we should pay attention

Universal Basic Income may not be a new idea, but it’s gaining traction through an experiment in the Bay Area. (Courtesy photo) “We’re about to experience a change in our economy on the scale of the agricultural or industrial revolution,” announced Sam Altman, the president of Y-Combinator, to a San Francisco audience.

Due to artificial intelligence, 62 percent of American low-skill jobs are at risk. The median probability of automation replacing the lowest-paid jobs is about 0.83, while jobs in higher-wage classes have a 0.31 to 0.04 chance of being automated. According to a 2013 report from Oxfor d, 50 […]

asked: What is an appropriate universal basic income for people in America? Food, water, shelter, healthcare, electric, garbage, etc? Give me a number.

triggeredmedia asked: What is an appropriate universal basic income for people in America? Food, water, shelter, healthcare, electric, garbage, etc? Give me a number. The idea is basic cost of living, which varies from state to state. Most sources put the average overall at about $4000 per month, but that depends on how many dependents you have and the state/city you are in. Would there even be dependents with UBI? I thought that was a capitalist thing, to have people who aren’t able to work for themselves relying on someone else’s income to survive. Or do you just mean […]