Pension Scheme Quotes

France actually had the first ever pension schemes: the Invalides, a hostel built by Louis XIV and his prime minister, Jean-Baptiste Colbert (1619–83), for disabled soldiers.

A knowledge of the human physique is considered essential in designing a chair, but a knowledge of human psychology is rarely considered useful, never mind a requirement, when someone is asked to design a pension scheme, a portable music player or a railway. Who is the Herman Miller of pensions, or the Steve Jobs of tax-return design? These people are starting to emerge – but it has been a painfully long wait. If there is a mystery at the heart of this book, it is why psychology has been so peculiarly uninfluential in business and in policy-making when, whether done well or badly, it makes a spectacular difference.

The moment I entered the bright, buzzing lobby of Men’s House I was overcome by a sense of alienation and hostility … The lobby was the meeting place for various groups still caught up in the illusions that had just been boomeranged out of my head: college boys working to return to school down South; older advocates of racial progress with utopian schemes for building black business empires; preachers ordained by no authority except their own, without church or congregation, without bread or wine, body or blood; the community “leaders” without followers; old men of sixty or more still caught up in post-Civil War dreams of freedom within segregation; the pathetic ones who possessed noting beyond their dreams of being gentlemen, who held small jobs or drew small pensions, and all pretending to be engaged in some vast, though obscure, enterprise, who affected the pseudo-courtly manners of certain southern congressmen and bowed and nodded as they passed like senile old roosters in a barnyard; they younger crowd for whom I now felt a contempt such as only a disillusioned dreamer feels for those still unaware that they dream—the business students from southern colleges, for whom business was a vague, abstract game with rules as obsolete as Noah’s Ark but who yet were drunk on finance.

Under Khrushchev, Stalin-era laws restricting job mobility were abandoned, the official workday was shortened, minimum wages were established and a system of maternity leave introduced, along with a national pension scheme (extended to collective farmers after 1965). In short, the Soviet Union—and its more advanced satellite states—became embryonic welfare states, at least in form.

knowledge of human psychology is rarely considered useful, never mind a requirement, when someone is asked to design a pension scheme, a portable music player or a railway. Who is the Herman Miller of pensions, or the Steve Jobs of tax-return design? These people are starting to emerge – but it has been a painfully long wait. If there is a mystery at the heart of this book, it is why psychology has been so peculiarly uninfluential in business and in policy-making when, whether done well or badly, it makes a spectacular difference.

The importance of ethical governance, exemplified by the Norwegian Pension Fund, is highlighted by a deplorable UK government proposal in 2016 to set up a Shale Wealth Fund.38 The fund would receive up to 10 per cent of the revenue generated by fracking (hydraulic fracturing) for shale gas, which could amount to as much as £1 billion over twenty-five years. This would be paid out to communities hosting fracking sites, which could decide to use the money for local projects or distribute it to households in cash. It is hard to avoid the conclusion that this is a bribe to secure local approval of environmentally threatening fracking operations, to which there has been considerable public opposition. Beyond that, there are many equity questions. Why should only people who happen to live in areas with shale gas be beneficiaries? How would the recipient community be defined? Would the payments go only to those living in the designated community at the time the fracking started? Would they be paid as lump sums or on a regular basis, and how long would they last? What about future generations? Can cash payments compensate for the risk of harm to the air, water, landscape and livelihoods? All these questions cast doubt on the equity and ethics of any selective scheme. They underline the need for the principles of wealth funds and dividends from them to be established before they are implemented, and for a governance structure that is independent from government and business. But

Speech in the Sportpalast Berlin, January 30, 1942 They say, “you sail on your KdF ships; we cannot allow them to land here; that would corrupt our laborers.” Now, why would that corrupt their laborers? I cannot see why. The German laborer has worked more than ever before; why should he not have a rest? Is it not a joke when today the man in the White House says, “we have a program for the world, and this program for the world will give man freedom and the right to work.” Mr. Roosevelt-open your eyes! We have already done this in Germany a long time ago. Or when he says that the sick ought to be taken care of. Please leave the garden of our party program-this is National Socialist teaching and not yours, Sir! This is heresy for a democrat. Or when he says, “we want laborers to have a vacation.” It is a little late to want this, since we have already put this into practice. And we would be much further along now if Mr. Roosevelt had not interfered. Or when he says, “we want to increase prosperity for the masses of laborers, too.” All these things are in our program! He might have seen them through, if he had not started the war. After all, we did all this before the war. No, these capitalist hyenas do not have the slightest intention of doing this. They see us as a suspicious example. And now, in order to lure their own people, they have to get in on our party program and fish out a few sentences, these poor bunglers. And even that they do imperfectly. We had a world unanimously against us here. Of course, not only on the right, but also on the left. Those on the left feared: “What are we going to do, if this experiment succeeds and he actually makes it and eliminates the housing problem? What if he manages to introduce an educational system based on which a talented boy, no matter who his parents are, can attain God knows what position? And, he is capable of doing it, he is already making a Reich protector out of a former farmhand. What if he really introduces an old-age pension scheme covering the whole Volk? What if he truly secures a right to vacations for the whole Volk, since he is already building ships? And he is bringing all this up to an ordered and secured standard of living. What are we going to do? We live by the absence of this. We live by this and, therefore, we must fight National Socialism.” What the others have accomplished-that, our comrades were best able to see in Russia. We have been in power for nine years now. Bolshevism has been there since 1917, that is, almost twenty-five years. Everyone can judge for himself by comparing this Russia with Germany. The things we did in these nine years. What does the German Volk look like, and what have they accomplished over there? I do not even want to mention the capitalist states. They do not take care of their unemployed, because no American millionaire will ever come into the area where they live, and no unemployed man will ever go to the area where the millionaires live. While hunger marches to Washington and to the White House are organized, they are usually dispersed en route by the police by means of rubber truncheons and tear gas. Such things do not exist in authoritarian Germany. We deal with such problems without such things-rubber truncheons and tear gas.

The Seventh Central Pay Commission was appointed in February 2014 by the Government of India (Ministry of Finance) under the Chairmanship of Justice Ashok Kumar Mathur. The Commission has been given 18 months to make its recommendations. The terms of reference of the Commission are as follows:  1. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure including pay, allowances and other facilities/benefits, in cash or kind, having regard to rationalisation and simplification therein as well as the specialised needs of various departments, agencies and services, in respect of the following categories of employees:-  (i) Central Government employees—industrial and non-industrial; (ii) Personnel belonging to the All India Services; (iii) Personnel of the Union Territories; (iv) Officers and employees of the Indian Audit and Accounts Department; (v) Members of the regulatory bodies (excluding the RBI) set up under the Acts of Parliament; and (vi) Officers and employees of the Supreme Court.   2. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure, concessions and facilities/benefits, in cash or kind, as well as the retirement benefits of the personnel belonging to the Defence Forces, having regard to the historical and traditional parties, with due emphasis on the aspects unique to these personnel.   3. To work out the framework for an emoluments structure linked with the need to attract the most suitable talent to government service, promote efficiency, accountability and responsibility in the work culture, and foster excellence in the public governance system to respond to the complex challenges of modern administration and the rapid political, social, economic and technological changes, with due regard to expectations of stakeholders, and to recommend appropriate training and capacity building through a competency based framework.   4. To examine the existing schemes of payment of bonus, keeping in view, inter-alia, its bearing upon performance and productivity and make recommendations on the general principles, financial parameters and conditions for an appropriate incentive scheme to reward excellence in productivity, performance and integrity.   5. To review the variety of existing allowances presently available to employees in addition to pay and suggest their rationalisation and simplification with a view to ensuring that the pay structure is so designed as to take these into account.   6. To examine the principles which should govern the structure of pension and other retirement benefits, including revision of pension in the case of employees who have retired prior to the date of effect of these recommendations, keeping in view that retirement benefits of all Central Government employees appointed on and after 01.01.2004 are covered by the New Pension Scheme (NPS).   7. To make recommendations on the above, keeping in view:  (i) the economic conditions in the country and the need for fiscal prudence; (ii) the need to ensure that adequate resources are available for developmental expenditures and welfare measures; (iii) the likely impact of the recommendations on the finances of the state governments, which usually adopt the recommendations with some modifications; (iv) the prevailing emolument structure and retirement benefits available to employees of Central Public Sector Undertakings; and (v) the best global practices and their adaptability and relevance in Indian conditions.   8. To recommend the date of effect of its recommendations on all the above.

college boys working to return to school down South; older advocates of racial progress with Utopian schemes for building black business empires; preachers ordained by no authority except their own, without church or congregation, without bread or wine, body or blood; the community "leaders" without followers; old men of sixty or more still caught up in post-Civil-War dreams of freedom within segregation; the pathetic ones who possessed nothing beyond their dreams of being gentlemen, who held small jobs or drew small pensions, and all pretending to be engaged in some vast, though obscure, enterprise, who affected the pseudo-courtly manners of certain southern congressmen and bowed and nodded as they passed like senile old roosters in a barnyard; the younger crowd for whom I now felt a contempt such as only a disillusioned dreamer feels for those still unaware that they dream -- the business students from southern colleges, for whom business was a vague, abstract game with rules as obsolete as Noah's Ark but who yet were drunk on finance. Yes, and that older group with similar aspirations, the "fundamentalists," the "actors" who sought to achieve the status of brokers through imagination alone, a group of janitors and messengers who spent most of their wages on clothing such as was fashionable among Wall Street brokers, with their Brooks Brothers suits and bowler hats, English umbrellas, black calfskin shoes and yellow gloves; with their orthodox and passionate argument as to what was the correct tie to wear with what shirt, what shade of gray was correct for spats and what would the Prince of Wales wear at a certain seasonal event; should field glasses be slung from the right or from the left shoulder; who never read the financial pages though they purchased the Wall Street Journal religiously and carried it beneath the left elbow, pressed firm against the body and grasped in the left hand -- always manicured and gloved, fair weather or foul -- with an easy precision (Oh, they had style) while the other hand whipped a tightly rolled umbrella back and forth at a calculated angle; with their homburgs and Chesterfields, their polo coats and Tyrolean hats worn strictly as fashion demanded. I could feel their eyes, saw them all and saw too the time when they would know that my prospects were ended and saw already the contempt they'd feel for me, a college man who had lost his prospects and pride. I could see it all and I knew that even the officials and the older men would despise me as though, somehow, in losing my place in Bledsoe's world I had betrayed them . . . I saw it as they looked at my overalls.

In the larger scheme of things, it’s nothing: to lose one month’s worth of pension when you’ve been earning for more than four decades. But, as is the way of loss, it is rarely about the absolute nature of the loss itself or its magnitude, and more about how victimized we feel.

On March 15, Washington addressed the officers, determined to squash a reported scheme to march on Congress. For the first time, he confronted a hostile audience of his own men. Washington sternly rebuked talk of rebellion, saying it would threaten the liberties for which they had fought. An insurrection would only "open the floodgates of civil discord and deluge our rising empire in blood." He then staged the most famous coup de théâtre of his career. He was about to read aloud a letter from a congressman when the words swam before his eyes. So he fished in his pockets for his glasses. "Gentlemen," he said, "you will permit me to put on my spectacles, for I have not only grown gray but almost blind in service to my country." The mutinous soldiers, inexpressibly moved, were shamed by their opposition to Washington and restored to their senses. Washington agreed to lobby Congress on their behalf, and a committee chaired by Hamilton granted the officers a pension payment equivalent to five years' full pay.

Even at their height, the Scandinavian welfare states left the economy to the private sector—which was then taxed at very high rates to pay for social, cultural and other services. What Swedes, Finns, Danes and Norwegians offered themselves was not collective ownership but the guarantee of collective protection. With the exception of Finland, Scandinavians all had private pension schemes—something that would have seemed very odd to the English or even most Americans in those days. But they looked to the state for almost everything else, and freely accepted the heavy hand of moral intrusion that this entailed.

Like all other self-respecting peoples, we have no intention of paying our debts. Or, to be more nearly accurate, the capitalists who expect to exploit us " for all time and eternity " have no intention of permitting us to pay our debts. They trump up new schemes to cause us to go more deeply into their debt. They intoxicate us with the strong fumes of "world power." They tell us how fine a thing it is to be reckoned among the great nations of the world. They cause us to maintain great military establishments and to build more and greater dreadnoughts. Thirty years ago we spent almost nothing on the navy and little more on the army. Now we are spending $300,000,000 a year on the army and navy. Almost a million dollars every week-day. Sixty-five cents of every dollar that is raised by the American government by taxation is spent for wars past or to come — for pensions, battleships or soldiers.

Sec. Particulars Amount 80C Tax saving investments1 Maximum up to Rs. 1,50,000 (from FY 2014-15) 80D Medical insurance premium-self, family Individual: Rs. 15,000 Senior Citizen: Rs. 20,000 Preventive Health Check-up Rs. 5,000 80E Interest on Loan for Higher Education Interest amount (8 years) 80EE Deduction of Interest of Housing Loan2 Up to Rs.1,00,000 total 80G Charitable Donation 100%/ 50% of donation or 10% of adjusted total income, whichever is less 80GGC Donation to political parties Any sum contributed (Other than Cash) 80TTA Interest on savings account Rs. 10,000 1              Tax saving investments includes life insurance premium including ULIPs, PPF, 5 year tax saving FD, tuition fees, repayment of housing loan, mutual fund (ELSS) (Sec. 80CCB), NSC, employee provident fund, pension fund (Sec. 80CCC) or pension scheme (Sec. 80CCD), etc. NRIs are not allowed to invest in certain investments, such as PPF, NSC, 5 year bank FD, etc. 2              Only to the first time buyer of a self-occupied residential flat costing less than Rs. 40 lakhs and loan amount of less than 25 lakhs sanctioned in financial year 2013-14 Clubbing of other’s income Generally, the taxpayer is taxed on his own income. However, in certain cases, he may have to pay tax on another person’s income.  Taxpayers in the higher tax bracket (e.g. 30%) may divert some portion

Most governments will not be able to fund their pension and social security schemes to support people living into their 90s. Many of us will also want to live engaging and productive lives as long as we can. To retire at 60 and spend 30 years vacationing would be both boring and unhealthy. But how many companies would be keen to employ a 70-year-old person in a world where 40 is already the new 60? So, what are we supposed to do as we get older? How do we stay engaged? How do we financially support ourselves?

Second, reducing profits is bad for shareholders. Many business critics don’t care – investors are often portrayed as nameless, faceless capitalists. But investors are not ‘them’; they are ‘us’. They include parents saving for their children’s education, pension schemes investing for their retirees and insurance companies funding future claims.

The Modus Operandi of THE REGULUS CONCLAVE as spelled out in 1853! “We hold such and such opinions upon one point only; and that one point is, mutual interest, and under that; 1st, that we can govern this nation; 2d, that to govern it, we must, subvert its institutions; and, 3d, subvert them we will! It is our interest; this is our only bond. Capital must have expansion. This hybrid republicanism saps the power of our great agent by its obstinate competition. We must demoralize the republic. We must make public virtue a by-word and a mockery, and private infamy to be honor. Beginning with the people, through our agents, we shall corrupt the State. “We must pamper superstition, and pension energetic fanaticism—as on ’Change we degrade commercial honor, and make success the idol. We may fairly and reasonably calculate, that within a succeeding generation, even our theoretical schemes of republican subversion may be accomplished, and upon its ruins be erected that noble Oligarchy of caste and wealth for which we all conspire, as affording the only true protection to capital. “Beside these general views, we may in a thousand other ways apply our combined capital to immediate advantage. We may buy up, through our agents, claims upon litigated estates, upon confiscated bonds, mortgages upon embarrassed property, land-claims, Government contracts, that have fallen into weak hands, and all those floating operations, constantly within hail, in which ready-money is eagerly grasped as the equivalent for enormous prospective gains. “In addition, through our monopoly of the manufacturing interest, by a rigorous and impartial system of discipline, we shall soon be able to fill the masses of operators and producers with such distrust of each other, and fear of us, as to disintegrate their radical combinations, and bring them to our feet. Governing on ’Change, we rule in politics; governing in politics, we are the despots in trade; ruling in trade, we subjugate production; production conquered, we domineer over labor. This is the common-sense view of our interests—of the interests of capital, which we represent. In the promotion of this object, we appoint and pension our secret agents, who are everywhere on the lookout for our interests. We arrange correspondence, in cipher, throughout the civilized world; we pension our editors and our reporters; we bribe our legislators, and, last of all, we establish and pay our secret police, local, and travelling, whose business it is, not alone to report to us the conduct of agents already employed, but to find and report to us others, who may be useful in such capacity. “We punish treachery by death!” (from YIEGER'S CABINET or SPIRITUAL VAMPIRISM, published 1853)

Colonial officials concocted a scheme to draw white settlers to the area by offering parcels of land for nearly nothing. Retired soldiers like my father and D received additional land as part of a pension.