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Additional milestones highlighted include: - The first NSITF pension review in 21 years, increasing some monthly pensions from ₦18,000 to ₦206,000—an increase of over 1,000%, with all arrears fully paid. - Three pension increases within 24 months, including the 22% Pension Boost, the ₦32,000 monthly consequential adjustment, and over...

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This conversation has generated a fair bit of conversation so I think it’s worth elaborating on. There is a common misconception that superannuation is decreasing the number of retirees on the pension. As per ASFA figures attached in comments - the median balance for men and women aged 60-64 is $220k and $164k respectively. That is nowhere near enough to get off the full pension which starts to reduce when a home owning single person has assets of $321k. The pension cuts out entirely if a home owning single person has assets of $714k. In other words, well over half of people about to retire have barely half the level of assets needed to get off the full pension. This is worse than when Superannuation began in 1992 when 77% of retirees were receiving a pension. 50% were receiving a full pension and 27% were receiving a part pension. Furthermore as per the ABS figures attached in comments below, 40% of people now retiree with a mortgage up from 10% in 1992. These figures are over five years old so the figure is probably worse. That means that most people have to cash in their super when they retire to pay off their mortgage and then go onto the pension anyway. Then there is the whole return on investment scenario - if house prices are growing the same as or faster than superannuation returns, then yet again it becomes a false economy. In other words Superannuation is not achieving its stated aim. The Productivity Commission estimates the cost of running Superannuation is around 1% of funds under management or $40 billion per year. Australia doesn’t need more financial engineers in this country, we need real engineers building real assets not paper assets. Nor should we be investing superannuation money overseas in foreign infrastructure when our own country desperately needs more infrastructure investment.

Gerard Rennick

44,183 Aufrufe • vor 5 Monaten

Hon'ble Prime Minister Shri Narendra Modi had in January 2025 approved the establishment of the 8th Central Pay Commission (CPC) to revise the salaries and benefits of Central Government employees and pensioners. All Central Government pensioners who had retired before 1.1.2016 are receiving pension at par with employees who retired after 1.1.2016. Keeping in view the recommendations which were made by the 6th CPC, a distinction among pensioners is inevitable and that is what is being brought in as an amendment and by way of validation. The validation rules DO NOT, in any way, change or alter the existing pensions so fixed of existing Civil Pensioners from the present stage. The validation rules also DO NOT affect Defense Pensioners in any way as they are covered by separate rules. It is not an amendment to any pension Rules or instructions but only a reaffirmation of the same w.e.f. 1st June, 1972, i.e. the date the CCS (Pension) Rules were promulgated. The 6th Central Pay Commission made a distinction between the retirees of pre-1.1.2006 and those of post-1.1.2006 periods. The then-Government (Congress-led UPA) had accepted the recommendations of 6th Central Pay Commission and decided that there will be a distinction between pensioners with reference to the cut-off date of 1.1.2006. The 7th Central Pay Commission has brought in parity between pre 1.1.2016 and post 1.1.2016 Pensioners. I again reiterate that this is only a Validation of existing rules. This DOES NOT alter or change existing civil or defense pension. - Smt Nirmala Sitharaman in Rajya Sabha

Nirmala Sitharaman Office

39,629 Aufrufe • vor 1 Jahr

#WATCH | Delhi | On Supreme Court grants full pension to women SSC Officers denied permanent commission, Advocate SS Pandey says, “Today, Supreme Court has passed a historical order, the bench was presided by the CJI, in respect of women officers of all the three services – Army, Navy and Air Force. The SC has recognised the fact that since women officers were not being considered for PC, the inputs to derive the merits of the women officers have not been done properly because the reporting officers were not conscious of the fact that these Annual Confidential Reports and other credentials would be used for consideration of PC for the women officers… In the Army, the SC has already found that the women officers have been subjected to systemic discrimination through the cases of Babita Punia and Nitisha… The SC clearly held that all those officers who have completed 60% of qualifying service and were clear from the PC and vigilance angle will be considered and granted PC. The officers who have been victims of systemic discrimination will be permitted to serve for 20 years and will be given a pension on completion of 20 years… In the Air Force’s case, the consideration denied earlier was based on a 2019 policy in which the inputs that were taken into consideration were those that women officers could not have earned during their service. As a result, they were denied PC. Both the male and female officers have been granted consideration for PC or pension… The same goes with the Navy because it was also following a policy of no PC to either men or women… They have also been considered for PC… “

ANI

39,804 Aufrufe • vor 5 Monaten

"We have 5 years until Social Security is bankrupt." David david friedberg on why Brad Gerstner's (Brad Gerstner) Trump Accounts for children are great for America: "The idea is right. It's a 401(k) for everyone." "Social Security needs to flip into being a 401(k) for everyone, tomorrow." "When you look at how much is going to get paid out and what the pay-in rate is, Social Security runs out of money in five years." "It's got $2.7T in it today. It's a fucking treasury." "They should sell that treasury, take that cash, and go buy the S&P 500." "And then everyone that has Social Security should get an account, and they should get their money, and it should buy the S&P. And it can also buy private stock, and whatever." "And we should do the same for all government employees and get them off of these pension plans." "These pension plans are poison." "The fundamental problem with these pension plans is that they will ultimately end up bankrupting the states, or become Ponzi schemes where people get screwed because they're expecting retirement benefits and they don't get them, and they're going to get bailed out somehow anyway." "They should all be flipped to retirement accounts. They should all be flipped to 401(k)s." "Everyone in America should get the same thing: 401(k) you own a piece of these equities in America, and we all participate together in the growth of America. And then everyone's incentivized to see businesses succeed."

Molly O’Shea

43,250 Aufrufe • vor 1 Monat

Catherine Austin Fitts: "You think DOD is going to say, 'Oh, guess what, nobody gets any retirement. We stole [$20 trillion of taxpayer money]...&...sent it to Basel, Switzerland'?" "The pandemic was a military operation...implemented by the people who stole the $20 trillion." This clip of Fitts, a former Assistant Secretary of Housing and Urban Development, investment banker, and founder of the Solari Report (The Solari Report | Catherine Austin Fitts ), is taken from an interview with Dr. Jane Ruby (DR JANE RUBY™️) posted to The Dr. Jane Ruby Rumble channel today, June 18, 2025. For reference, Fitts is describing how she and MSU professor Mark Skidmore discovered that the Department of Defense has stolen at least $20+ TRILLION of U.S. taxpayer money. (That number was as of 2015, and it is likely much larger now.) Fitts notes that the DOD was also in charge of "the pandemic" here in the U.S. and that COVID—including the supposed "vaccines" for the disease (see full interview)—have been used to lower life expectancy in order to avoid a reckoning regarding Americans' missing pension money. ----------------Partial transcription of clip--------------- "The moment they started the financial coup, they started to implement policies that made life expectancy go down. Because if you can't balance the budget by putting more funding behind the retirement system, the only way you can balance the— Well, you can, you can extend retirement, the date of retirement, or you can lower life expectancy, or both. But that's— You have to— if the population and the Congress refuse to do the financially responsible thing, then your only other choice is to is to lower life expectancy. "He [Mark Skidmore] was like, I don't understand what you're talking about. So when the pandemic hit, I knew exactly what it was. Because if the pandemic was a military operation, it is being implemented by the people who stole the $20 trillion. "Do you really think that DOD is going to say, 'Oh, guess what, nobody gets any retirement. We stole all the money... and we sent it to Basel, Switzerland'? Or wherever they've got a stockpile, or we sent it offshore, we send it wherever the money went, whatever it funded. "The American people, if you're the President of the United States, every day, every week, the primary dealers working with the New York Fed go out and borrow money. So they sell treasury bonds and treasury bills to your IRAs and your retirement accounts and your pension funds. Okay. So I sell a treasury bond to a pension fund. And so you work all your life, you put your cash in your pension fund. The pension fund buys a Treasury bond, the money goes into treasury, the bank account at the New York Fed for Treasury. And then it disappears out the back door. "When Dr. Skidmore documented and published a study in 2017 that 21 trillion was missing, the outstanding debt of the United States at that moment was 21 trillion. The balance sheet. So do we have too much debt or do we have a bank robbery? "But here's the thing. As a citizen now, my pension fund is not an asset, it's an IOU for myself as a taxpayer. So I've put cash into my pension fund, and my cash has been converted to an IOU that I owe myself as a taxpayer, without your consent. Because the bonds have a call on all of our assets. "If you're the Department of Defense, do you really want to tell somebody, oh, you know, we disappeared 20 trillion of your money, and so, you know, so the question is, how do you manage that situation? Anyway, so, yeah, you know, if DOD stole your money, I think it was, you know, that money disappeared out of DoD accounts at the New York Fed...."

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