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Flagship or flagging: the impact of pension credit five years on
- Author:
- HAYES Emma
- Publisher:
- Age Concern
- Publication year:
- 2008
- Pagination:
- 36p.
- Place of publication:
- London
The report clearly shows that claiming Pension Credit is making a noticeable difference to those receiving it but the glaring problem with Pension Credit remains its low take-up level. Despite huge numbers of pensioners currently experiencing financial hardship‚ and pensioner poverty levels recently rising for the first time in a decade‚ up to £2.8billion in Pension Credit still remains unclaimed by 1.8 million pensioners. If the benefit was paid automatically‚ those missing out would be on average £1‚477 a year better off.
Who foregoes survivor protection in employer-sponsored pension annuities?
- Authors:
- JOHNSON Richard W., UCCELLO Cori E., GOLDWYN Joshua
- Journal article citation:
- Gerontologist, 45(1), February 2005, pp.36-35.
- Publisher:
- Oxford University Press
Retirees in traditional pension plans must generally choose between single life annuities, which provide regular payments until death, and joint and survivor annuities, which pay less each month but continue to make payments to the spouse after the death of the retired worker. This article examines the payout decision and measures the share of married retirees with pension annuities who forego survivor protection. The analysis consists of a probit model of the pension payout decision, based on data from the 1992–2000 waves of the Health and Retirement Study. More than one quarter (28%) of married men and two thirds of married women receiving employer-sponsored retirement annuities declined survivor protection. Men with small pensions and limited household wealth, men in better health than their spouses, and men whose spouses have pension coverage from their own employers are more likely than other men to reject survivor protection. Most workers appear to make payout decisions by rationally balancing the costs and benefits of each type of annuity, suggesting that existing measures to encourage joint and survivor annuities are adequate. However, the growth in 401(k) plans, which are generally not covered by existing laws protecting spousal pension rights, may leave widows vulnerable.
Tackling pensioner poverty: fifth report of session 2008-09: volume 1: report, together with formal minutes
- Author:
- GREAT BRITAIN. Parliament. House of Commons. Work and Pensions Committee
- Publisher:
- Stationery Office
- Publication year:
- 2009
- Pagination:
- 129p.
- Place of publication:
- London
This report of an inquiry by the House of Commons Work and Pensions Committee on Tackling pensioner poverty provides a detailed overview including: vulnerable groups; pensioner incomes; the benefit system, the take-up of benefits, the impact of the economic downturn on pensions, the role of financial advice and employment of older workers, with recommendations for the future. It also includes a description of the situation in Canada, based on a visit by the Committee in May 2009.
Tackling pensioner poverty: fifth report of session 2008-09: volume 2: oral and written evidence
- Author:
- GREAT BRITAIN. Parliament. House of Commons. Work and Pensions Committee
- Publisher:
- Stationery Office
- Publication year:
- 2009
- Pagination:
- 175p.
- Place of publication:
- London
This volume consists of the oral and written evidence to accompany the fifth report of session 2008-2009 of the House of Commons Work and Pensions Committee on Tackling pensioner poverty. The report (volume 1) provides a detailed overview including: vulnerable groups; pensioner incomes; the benefit system, the take-up of benefits, the impact of the economic downturn on pensions, the role of financial advice and employment of older workers, with recommendations for the future. It also includes a description of the situation in Canada, based on a visit by the Committee in May 2009.