Undoubtedly, pensions are one of the most important components of a social security system. Pensions improve welfare by facilitating individuals to be able to smooth consumption over the life-cycle. By contributing to a pension, an individual consumes today less than what she produces, so as to consume more after she has retired and is no longer producing. Pensions allow … [Read more...] about Do non-contributory pensions work?
Right after you sing this to the tune of the Beatles song “When I’m 64” Sent you a pension, wrote you a check Stating full amount Indicate precisely how much is your min And please tell us your next of kin This is to help you avoid the fall Who could ask for more We will support you, staying alive When you’re sixty-five Tu ru ru tutu tu ru ru tuuu turuuu tu … [Read more...] about When you are 64