Social Security Fund seeks to increase rates Fund targeting 20m members by 2022 The Social Security Fund (SSF) is preparing to propose the fund's board of directors increase the fund's contribution rates in preparation for members' long-term compensation as the population ages.SSF secretary-general Ananchai Utaipatanacheep said the current contribution rates are insufficient to compensate all members over the long term as Thailand becomes an aged society. The maximum compensation rates for SSF members are 4,000-5,000 baht per month, which will be inadequate in the future when inflation is taken into account, said Mr Ananchai. The maximum contribute rate to the SSF is 15,000 baht per month. The SSF receives contributions of around 100 billion baht each year and reserves around 6% of inflows for the Old Age Pension Fund. The SSF will propose raising the maximum contribution rate from 15,000 baht to 16,000 baht in 2020, stepping up gradually until the rate reaches … [Read more...] about Social Security Fund seeks to increase rates
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By Liz Weston , NerdWallet Published June 13, 2019 Personal Finance NerdWallet.com Facebook Twitter Comments Print video House passes new bipartisan retirement bill Forbes columnist Brian Domitrovic discusses the “Secure Act” and how it may benefit the American people. Many people plan to work at least part-time in retirement because they want the income, enjoy what they do, hope to keep active or need a sense of purpose — or some combination of those reasons. But working in retirement can come with some unexpected costs and hazards. Continue Reading Below Here are commonly asked questions that can help you plan for what’s ahead. Can I collect Social Security at 62 and still work? Yes, but collecting Social Security early probably isn’t the best option if you earn very much. When you start Social Security before your full retirement age — which is currently 66 and rising to 67 for people born in … [Read more...] about Taking Social Security before you fully retire? Pros and cons
Sections SEARCH Skip to content Skip to site index Your Money Subscribe Log In Log In Today’s Paper Your Money | Checking on Social Security Estimates Is a Good Idea, but Many People Don’t Do It Advertisement Supported by Your Money Adviser ByAnn Carrns April 12, 2019 Checking your official Social Security statement is important to make sure your future retirement benefits reflect what you’ve earned over your working life. Yet a new report suggests that many Americans aren’t doing that. In recent years, the Social Security Administration has greatly curtailed the number of statements it mails, encouraging workers to check the information online instead. But fewer than half the 39 million people registered for electronic “my Social Security” accounts as of Sept. 30 had checked their earnings statements in the previous 12 months, according to a recent audit report from the … [Read more...] about Checking on Social Security Estimates Is a Good Idea, but Many People Don’t Do It
Mar 30, 5:46 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Sean Williams 03/30/19 AT 5:27 PM This past Monday, March 11, President Trump unveiled his fiscal 2020 budget proposal for the federal government. As a reminder, fiscal years for the federal government end on Sept. 30 and begin on Oct. 1. Unveiling a budget months in advance of the actual implementation is supposed to allow Congress to make tweaks, as needed, to get a yearlong budget passed.Trump's 2020 budget featured a lot of talking points (as presidential budgets often do), a number of which came under harsh criticism by members of the Democratic Party.In particular, political opponents of the president focused on a handful of proposed cuts to social programs, which go against Trump's campaign promises in 2016 not to touch so-called entitlement programs like Medicare and Social Security.Contained within the president's budget were calls for about $1.5 … [Read more...] about Trump Outlines A Significant Social Security Cut In His 2020 Budget
Mar 10, 12:24 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Maurie Backman 02/17/19 AT 11:09 PM Millions of seniors count on Social Security to pay the bills in retirement, and thankfully, signing up for benefits is pretty easy. But if you're wondering whether that process will happen automatically, the answer is "no."The reason? There's no single age to file for Social Security. Eligible recipients get an eight-year window to claim benefits that begins at age 62 and ends at age 70. (In fact, you're not even required to file by 70, though there's no financial reason to wait past that point.) There are different repercussions and advantages associated with filing at various ages, so the decision to claim benefits isn't one the Social Security Administration (SSA) can make for you. Rather, you'll need to weigh the pros and cons of filing at various ages to land on the right one.Making the best filing … [Read more...] about Will My Social Security Benefits Start Automatically?