The Indian government has introduced a Unified Pension Scheme (UPS) for central government employees, combining features of the Old Pension Scheme and the existing National Pension Scheme. The scheme guarantees a minimum pension and a family pension, with inflation indexing and increased government contributions. It aims to provide a more secure retirement for government employees.
As voters prepare to cast their ballots in November’s midterm elections, they will not only be choosing their representatives but also potentially shaping the future of Social Security. Lawmakers face the dilemma of addressing the program’s projected trust fund depletion within the next decade, a situation that could lead to significant benefit cuts if not resolved. Democratic lawmakers like Rep. John Larson advocate for enhancing benefits, while Republican proposals focus on cost-cutting measures, including raising the retirement age. As Congress navigates this complex issue, bipartisan compromise remains uncertain, with both sides expressing differing views on the best path forward. Experts emphasize the need for a combination of tax increases and benefit adjustments to ensure Social Security’s long-term sustainability.
The Oregonian/OregonLive has updated its Oregon Public Employee Retirement System (PERS) database, adding nearly 6,628 beneficiaries who retired in 2023 and the first two months of 2024, bringing the total number of individuals included in the database to 146,062. The database now includes the names and monthly benefits of all PERS beneficiaries, along with their length of service, retirement formula, and how their benefit compares to their final salary.
