Taxation Archives - Page 11 of 13 - Pension Policy International

30JulJuly 30, 2020

China’s Policy Instruments : Tax Reduction, Retirement Prolonging and Welfare Changes

By Peilin Yang China is facing a series of signiﬁcant debt problems. We have studied the changes in debt and beneﬁts under different policy instruments under the framework of large-scale OLG. Under the three retirement ages, as the retirement age increases, the maximum increase in beneﬁts is 17.98%, and the debt is 75.69%. Under the ﬁve tax rates, the optimal tax rate is 28%, the maximum increase in beneﬁts is 22.65%, and the maximum debt ratio is 75%. Source:...

July 30, 2020

Articles, Pension design, Regulation2020, Asia, China, Public Policy, Taxation

17JulJuly 17, 2020

Public sector pension discrimination could cost UK taxpayer £17bn

The government has revealed it faces a £17bn bill for tackling “unlawful” age discrimination in public sector pensions, with 3 million people set to benefit by an average of more than £5,600 each. While the announcement spells good news for many teachers, nurses, police officers, firefighters and civil servants, commentators said the huge bill could not have come at a worse time and would almost certainly have to be financed through cuts in spending or higher taxes. Taxpayers are...

July 17, 2020

News, Slider2020, Taxation, UK

07JulJuly 7, 2020

US. Public Pensions and the COVID-19 Fiscal Dilemma

We've just passed an annual day of reckoning in public finance: Most states and many local governments close their books for the fiscal year on June 30, and public pension funds typically report their quarterly portfolio balances shortly thereafter. With the Senate still dithering over federal stimulus aid to state and local governments, after its majority leader suggested that state bankruptcies would be a better solution and that it's all the fault of public pensions, it's time to reality-check...

July 7, 2020

News, Slider2020, COVID-19, Regulation, Taxation, US

19JunJune 19, 2020

US. How The 2020 Elections Will Affect Your Retirement Plan—Regardless Of The Outcome

November may seem far off, but the 2020 election is right around the corner. With the current state of the country, we can expect a lot of changes to take place soon after the election, no matter what the outcome is. These changes will have huge impacts on Americans financially, so you’ll want to start preparing as soon as possible. It’s going to be taxing. We are on the heels of one of the largest stimulus packages in human...

June 19, 2020

News, Slider2020, Taxation, US

18MayMay 18, 2020

EC summons Netherlands for taxing pensions moving abroad

The European Commission has summoned the Netherlands to the European Court of Justice (ECJ) for taxing pensions moving abroad. It argued that the taxation conflicts with the principle of free movement of capital. According to the EC, workers must be able to transfer pension capital to another member state, even if the country of destination allows taking out a lump sum of up to the entire pension entitlement. Twelve member states, including Germany, Belgium and Denmark, have already introduced...

May 18, 2020

News, Slider2020, Europe, Netherlands, Taxation

01AprApril 1, 2020

British Gov’t Delays Levy Hike On Pension Schemes

Pensions schemes will not have to face a planned 10% hike on their general levies due to the financial stress caused by the COVID-19 crisis, the U.K. government has said. The government said Friday that it will hold off on the planned 10% increase on the General Levy on Occupational and Personal Pension schemes, which was scheduled to take effect on April 1. Minister for Pensions and Financial Inclusion Guy Opperman said the government wants to support businesses through...

April 1, 2020

News, Slider2020, Coronavirus, COVID-19, Europe, Regulation, Taxation, UK

28MarMarch 28, 2020

Who Takes Advantage of Tax-Deferred Savings Programs? Evidence From Federal Income Tax Data

By David P. Richardson, David Joulfaian This paper provides insight into the attributes of wage-earning households that participate in tax-deferred retirement savings plans. Examining data from federal tax returns, we find that approximately 52 percent of individuals and 55 percent of households participated in a retirement savings program in 1996. Excluding households with wages within the 1996 poverty thresholds and individuals under age 21 or over age 70, the age-wage restricted participation rates were 66 percent and 79 percent...

March 28, 2020

Articles, System Sustainability2020, Taxation, US

27MarMarch 27, 2020

Japan to give one-year tax grace period for virus-hit companies

Unprecedented payment delay to include corporate taxes, social insurance premiums. The Japanese government will create a special system to provide a one-year grace period for companies to pay tax and social insurance premiums due to the spread of the coronavirus, the Nikkei has learned. The period will cover the payment of corporate tax, sales tax and social insurance premiums. The government will exempt delinquent tax and will not ask companies to provide collateral. The unprecedented measure comes amid slowing economic activity after the central and...

March 27, 2020

News, SliderAsia, Coronavirus, COVID-19, Japan, Taxation

12MarMarch 12, 2020

UK. Coronavirus grants pensions Budget immunity

Doctors are the people you need on your side in a time of crisis — as Wednesday’s Budget, overshadowed by the spread of the coronavirus, proved. The temporary sticking plaster Rishi Sunak provided to patch the NHS pensions taper tax crisis turned out to be much bigger than expected — a £2.2bn giveaway that will benefit the pensions contributions of all workers in the public and private sector earning up to £200,000 per year. From April, they can...

March 12, 2020

News, Slider, Uncategorized2020, Europe, Taxation, UK

11FebFebruary 11, 2020

UK. Government mulls tax raid on top earners’ pensions

According to the Financial Times, chancellor Sajid Javid is weighing up cutting tax relief on pension contributions for higher earners as a way of raising revenue for the state. Under the current system, individuals receive tax relief on their personal contributions at the same rate as their marginal income tax rate. However, the FT reports Javid may cut pension tax relief for higher earners from 40% to 20%, raising more than £10bn extra a year for the state. Inheritance...

February 11, 2020

News, Slider2020, Europe, Taxation, UK

July 2020

China’s Policy Instruments : Tax Reduction, Retirement Prolonging and Welfare Changes

Public sector pension discrimination could cost UK taxpayer £17bn

US. Public Pensions and the COVID-19 Fiscal Dilemma

June 2020

US. How The 2020 Elections Will Affect Your Retirement Plan—Regardless Of The Outcome

May 2020

EC summons Netherlands for taxing pensions moving abroad

April 2020

British Gov’t Delays Levy Hike On Pension Schemes

March 2020

Who Takes Advantage of Tax-Deferred Savings Programs? Evidence From Federal Income Tax Data

Japan to give one-year tax grace period for virus-hit companies

UK. Coronavirus grants pensions Budget immunity

February 2020

UK. Government mulls tax raid on top earners’ pensions