Worker & Community Struggles and Protests Madrid Police "Dumbfounded" After Amazon Called The Cops On Striking Workers 22:31 Nov 27 0 comments George Soros’ Open Society Foundation unmasked in a major leak 22:31 Aug 24 1 comments Shell in court over major Corrib gas refinery flaring events. 23:32 Jul 28 0 comments Eddie Hobbs: Largest act of larceny against Irish people 23:22 Jun 02 0 comments CHASE Fundraising Events Calendar for June 23:10 Jun 01 0 comments more >>Blog Feeds
Anti-EmpireNorth Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi? Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi? Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi? ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi? US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty
The SakerA bird's eye view of the vineyard
Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Lockdown Skeptics
British Drivers Steering Away From New Cars In Their Droves Mon Dec 23, 2024 13:00 | Sallust
Britain on Brink of Recession After Growth Revised to Zero Following Reeves?s Horror Budget Mon Dec 23, 2024 11:09 | Will Jones
What Fresh Hell is This? The Climate and Nature Bill Mon Dec 23, 2024 09:00 | Paul Homewood
The Daily Sceptic Christmas Appeal Mon Dec 23, 2024 07:00 | Toby Young
News Round-Up Mon Dec 23, 2024 01:12 | Richard Eldred
Voltaire NetworkVoltaire, international editionVoltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en How Washington and Ankara Changed the Regime in Damascus , by Thierry Meyssan Tue Dec 17, 2024 06:58 | en Statement by President Bashar al-Assad on the Circumstances Leading to his Depar... Mon Dec 16, 2024 13:26 | en Voltaire, International Newsletter N?112 Fri Dec 13, 2024 15:34 | en |
Ireland could and should have a Universal Pension for all older people
national |
worker & community struggles and protests |
press release
Monday September 16, 2013 23:55 by Socail Justice
Ireland could and should have a Universal Pension for everyone over 65. it could be paid for principally by standard rating the current tax-break for private pensions. More than 80% of benefit of the current tax break goes to the 20% with highest earnings. A Universal Pension would be simpler, fairer and more just as well as being sustainable in the decades ahead.
The full study may be accessed here. http://www.socialjustice.ie/sites/default/files/file/Po...L.pdf Introducing a Universal Pension along the lines proposed by Social Justice Ireland would:
“Introducing a Universal Pension along the lines proposed by Social Justice Ireland would be a strongly progressive change, as nearly 82% of the current tax relief for private pensions accrues to the top 20% of earners, with 56% accruing to the top 10% of earners. Implementation of a Universal Pension along the lines proposed by Social Justice Ireland would provide security, equity and certainty. It would also be just, efficient and sustainable. This study is part of a wider project Social Justice Ireland has been developing in which the desirability, viability and technical challenges of ensuring every person in society has a guaranteed basic income is analysed in detail. The study was conducted by Adam Larragy (University of London). Concluding his presentation at the launch of the study, he said: “The authors of the 1919 Democratic Programme believed that people in old age were ‘entitled to the Nation’s gratitude and consideration’. The universal pension envisioned in this document is a practical expression of this idea. It would be an assertion of solidarity between the generations, and between those with have more, and those who have less. It would be a recognition that we all contribute to this country, and that we are all entitled to a just share in our old age.” Key Characteristics of the Universal Pension proposal The universal pension would replace the State Pension (Contributory), State Pension (Non-contributory), the Death Benefit and the Widow’s, Widower’s or Surviving Civil Partner’s (Contributory) Pension for all those above the state pension age. It would also be paid to those who are currently only receiving an income through their spouse or partner’s state pension as Qualified Adults aged 66 and over. The rate at which the universal pension is paid would be the current rate of the State Pension (Contributory), which is €230.30 a week. This would immediately raise the payments to those on the State Pension (Non-contributory), two-thirds of whom are women, by a minimum of €10 a week. It would also provide a pension in their own right to those receiving the Qualified Adult increase for those aged 66 and over. The Universal Pension would be residency-based. Each full year an eligible individual is resident in Ireland between the ages of 16 and the state pension age they would accumulate a 1/40th or 2.5% increase in the Universal Pension. For example, if the state pension age was 66 and an individual had been legally resident for 30 years between the ages of 16 and 66 they would receive 75% of the full rate of the Universal Pension. On the introduction of the Universal Pension, all pensioners who had been in receipt of a full state pension – contributory or non-contributory – would be allocated a full Universal Pension at the full contributory rate. Those pensioners who had then been in receipt of no state pension or reduced pension amounts - as Qualified Adults or on the basis of a means test or on the basis of their PRSI contribution history – would initially receive their current amounts. However, they would be entitled to apply to have their payment increased based on the length of residency in Ireland. If they have been resident in Ireland for 40 years, from age 16 to pensionable age, they would receive the full Universal Pension. If they have less than 40 years residency, they would receive as their Universal Pension the more favourable of the following: o A residency-related pension (2.5% of the full Universal Pension per year of residence) o Their current pension amount. This means that no existing pensioner would lose out and many would experience an increase in the Universal Pension. In particular, those adults aged 66 years and older, in respect of whom reduced payments are now made due to their status as ‘Qualified Adults’, would receive a Universal Pension in their own right. Qualified increases for children and adults under the age of 66 would continue to be paid on the basis that they are currently paid and the rate that they are paid would be a certain percentage of the Universal Pension rate. The increase for those aged over 80, those living alone and those living on designated islands would be maintained and the rate that they are paid would be a certain percentage of the Universal Pension rate. The Universal Pension would remain frozen until 2016, and thereafter would gradually rise to 40% of average earnings by 2025. It would remain linked at 40% of average earnings thereafter. A powerpoint presentation of the key parts of the study (in pdf format) may be accessed here. http://www.socialjustice.ie/sites/default/files/file/Po...L.pdf The full study may be accessed here. http://www.socialjustice.ie/sites/default/files/file/Po...L.pdf |