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NIB Deficiting ON u

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How do you feel about NIB Deficiting on u

Good
1
5%
Not good
13
68%
I like to be deficited on
5
26%
 
Total votes: 19

pugboy
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Re: NIB Deficiting ON u

Postby pugboy » June 18th, 2022, 2:16 pm

you defined the working class right there

Numb3r4 wrote:Work 'til you die unless you die working first.

Good luck guys....

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Re: NIB Deficiting ON u

Postby Numb3r4 » June 18th, 2022, 7:47 pm

In general though our pensions seem to be a bit to much am I right in having this view?

$3000.00 as a pension?? Isn't the minimum wage $3000.00 how is it you "earn" the same as a worker and as a pensioner?
One person is bringing in economic value and the other person isn't at this time, they did at one point but not now.
Shouldn't the pension be a fraction of the minimum wage, I knew a rule of thumb that stated that in retirement you should adjust your lifestyle to be funded on 60% (some say 66%) of your monthly wage that you once worked for. I don't expect the gov't to work like that but...

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » June 18th, 2022, 7:48 pm

Numb3r4 wrote:In general though our pensions seem to be a bit to much am I right in having this view?

$3000.00 as a pension?? Isn't the minimum wage $3000.00 how is it you "earn" the same as a worker and as a pensioner?
One person is bringing in economic value and the other person isn't at this time, they did at one point but not now.
Shouldn't the pension be a fraction of the minimum wage, I knew a rule of thumb that stated that in retirement you should adjust your lifestyle to be funded on 60% (some say 66%) of your monthly wage that you once worked for. I don't expect the gov't to work like that but...
Politics came into play and politicians needed votes so fiscal responsibility and feasibility went through the window. Paying actuaries top dollar and neglecting any advice they give

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88sins
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Re: NIB Deficiting ON u

Postby 88sins » June 19th, 2022, 12:23 am

Numb3r4 wrote:In general though our pensions seem to be a bit to much am I right in having this view?

$3000.00 as a pension?? Isn't the minimum wage $3000.00 how is it you "earn" the same as a worker and as a pensioner?
One person is bringing in economic value and the other person isn't at this time, they did at one point but not now.
Shouldn't the pension be a fraction of the minimum wage, I knew a rule of thumb that stated that in retirement you should adjust your lifestyle to be funded on 60% (some say 66%) of your monthly wage that you once worked for. I don't expect the gov't to work like that but...



So, you have zero problem discounting the contributions that the retiree has made to the economy throughout their working years, and want them to live on 2/3 of minimum wage.
Lemme enlighten you a bit.
With aging, comes health conditions. Now, say a person in their old age has a heart attack and survives. After leaving hospital they will probably be put on meds. You have any clue about the cost of the medicine that person has to take, for the rest of their life?
Low dose aspirin- about $18/bottle
Anti-platelet meds- about $15/tablet, for the generics, that's $450/month
Anti-cholesterol meds- about $30/tablet for the generics, that's about $900/month
And probably additional drugs for hypertension, diabetes, etc.

So, with 2 meds alone, almost half the pension spent. And you want them to live on less than $3000. Good to know.
I hope when your time comes, you tell them that you only want $2000 or less and that you have to adjust your lifestyle accordingly.

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sMASH
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Re: NIB Deficiting ON u

Postby sMASH » June 19th, 2022, 6:30 am

damn state run ponzi scheme.

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Re: NIB Deficiting ON u

Postby Numb3r4 » June 19th, 2022, 6:50 pm

88sins wrote:
Numb3r4 wrote:In general though our pensions seem to be a bit to much am I right in having this view?

$3000.00 as a pension?? Isn't the minimum wage $3000.00 how is it you "earn" the same as a worker and as a pensioner?
One person is bringing in economic value and the other person isn't at this time, they did at one point but not now.
Shouldn't the pension be a fraction of the minimum wage, I knew a rule of thumb that stated that in retirement you should adjust your lifestyle to be funded on 60% (some say 66%) of your monthly wage that you once worked for. I don't expect the gov't to work like that but...



So, you have zero problem discounting the contributions that the retiree has made to the economy throughout their working years, and want them to live on 2/3 of minimum wage.
Lemme enlighten you a bit.
With aging, comes health conditions. Now, say a person in their old age has a heart attack and survives. After leaving hospital they will probably be put on meds. You have any clue about the cost of the medicine that person has to take, for the rest of their life?
Low dose aspirin- about $18/bottle
Anti-platelet meds- about $15/tablet, for the generics, that's $450/month
Anti-cholesterol meds- about $30/tablet for the generics, that's about $900/month
And probably additional drugs for hypertension, diabetes, etc.

So, with 2 meds alone, almost half the pension spent. And you want them to live on less than $3000. Good to know.
I hope when your time comes, you tell them that you only want $2000 or less and that you have to adjust your lifestyle accordingly.


I'm not dis-counting the contributions, but if you paid for x years then you should only get back x years worth of contributions unless we sign onto like an investment plan where we are aware of the expected rate of return so the capital can grow like how the bank will package a financial plan, so if I make 30yrs contributions then I can only expect it to pay me for 30yrs in retirement. Thus it would make the fund more sustainable if they didn't dispense the maximum every month and then come 30yrs later persons are living longer and, and now they have NO MONEY when they are 30yrs OLDER. Had we been dispensing a smaller more manageable sum we might have still had money to dispense.

Your health is your responsibility first an foremost, much of our health problems in TnT are based around lifestyle, but not all folks have them, so sometime when it come to funding health care you ultimately have the well who lived a little better funding those who did (or could) not. This only encourages the excess as folks feel "wen ah retiah ah go study dat....now I hadda enjoy mehself", and as a nation we did enjoy ourselves.

If we truly cared about the pricing of medications and the cost of health care the public health care system would have been better run and funded. Not to mention give folks alternative health care options like community Yoga and improving access to parks and recreational facilities it might not seem like a lot up front but for those who are committed the cumulative effects to your health are real and tangible.

Your point about health and the cost of medications only goes to prove further failure when it comes to the health infrastructure. SO now we have 2 (NIS & health and hospitals) institutions that are set up to deliver health care and both are struggling. Again proving that the existing way that the NIS was handled was wrong and should not have been.

Maybe if folks were given less they would have been more aware of how expensive medications are and better planned their lives.

With regards to minimum wage or wages in general is it not that you are paid a wage based on the work that you are doing that is the specific skillset that you bring to the labour market, whether it is labourer or neurosurgeon, when you are no longer adding that skill to the market how can you expect to be compensated at that exact level?

If you wish to be then continue working or invest in yourself and put in place an annuity or just plain save.

Defending the NIS in its current state (to me) seems like defending the dependency syndrome inducing CEPEP work schemes, it amounts to roughly the same thing, we refuse to admit that we need adjustment to our lifestyles at a core level. For a long time we just used the NIS to prop up a lifestyle that was just plain unsustainable and now we no longer have the $3,000.00 to keep reality out.

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Re: NIB Deficiting ON u

Postby hover11 » June 19th, 2022, 7:00 pm

Numb3r4 wrote:
88sins wrote:
Numb3r4 wrote:In general though our pensions seem to be a bit to much am I right in having this view?

$3000.00 as a pension?? Isn't the minimum wage $3000.00 how is it you "earn" the same as a worker and as a pensioner?
One person is bringing in economic value and the other person isn't at this time, they did at one point but not now.
Shouldn't the pension be a fraction of the minimum wage, I knew a rule of thumb that stated that in retirement you should adjust your lifestyle to be funded on 60% (some say 66%) of your monthly wage that you once worked for. I don't expect the gov't to work like that but...



So, you have zero problem discounting the contributions that the retiree has made to the economy throughout their working years, and want them to live on 2/3 of minimum wage.
Lemme enlighten you a bit.
With aging, comes health conditions. Now, say a person in their old age has a heart attack and survives. After leaving hospital they will probably be put on meds. You have any clue about the cost of the medicine that person has to take, for the rest of their life?
Low dose aspirin- about $18/bottle
Anti-platelet meds- about $15/tablet, for the generics, that's $450/month
Anti-cholesterol meds- about $30/tablet for the generics, that's about $900/month
And probably additional drugs for hypertension, diabetes, etc.

So, with 2 meds alone, almost half the pension spent. And you want them to live on less than $3000. Good to know.
I hope when your time comes, you tell them that you only want $2000 or less and that you have to adjust your lifestyle accordingly.


I'm not dis-counting the contributions, but if you paid for x years then you should only get back x years worth of contributions unless we sign onto like an investment plan where we are aware of the expected rate of return so the capital can grow like how the bank will package a financial plan, so if I make 30yrs contributions then I can only expect it to pay me for 30yrs in retirement. Thus it would make the fund more sustainable if they didn't dispense the maximum every month and then come 30yrs later persons are living longer and, and now they have NO MONEY when they are 30yrs OLDER. Had we been dispensing a smaller more manageable sum we might have still had money to dispense.

Your health is your responsibility first an foremost, much of our health problems in TnT are based around lifestyle, but not all folks have them, so sometime when it come to funding health care you ultimately have the well who lived a little better funding those who did (or could) not. This only encourages the excess as folks feel "wen ah retiah ah go study dat....now I hadda enjoy mehself", and as a nation we did enjoy ourselves.

If we truly cared about the pricing of medications and the cost of health care the public health care system would have been better run and funded. Not to mention give folks alternative health care options like community Yoga and improving access to parks and recreational facilities it might not seem like a lot up front but for those who are committed the cumulative effects to your health are real and tangible.

Your point about health and the cost of medications only goes to prove further failure when it comes to the health infrastructure. SO now we have 2 (NIS & health and hospitals) institutions that are set up to deliver health care and both are struggling. Again proving that the existing way that the NIS was handled was wrong and should not have been.

Maybe if folks were given less they would have been more aware of how expensive medications are and better planned their lives.

With regards to minimum wage or wages in general is it not that you are paid a wage based on the work that you are doing that is the specific skillset that you bring to the labour market, whether it is labourer or neurosurgeon, when you are no longer adding that skill to the market how can you expect to be compensated at that exact level?

If you wish to be then continue working or invest in yourself and put in place an annuity or just plain save.

Defending the NIS in its current state (to me) seems like defending the dependency syndrome inducing CEPEP work schemes, it amounts to roughly the same thing, we refuse to admit that we need adjustment to our lifestyles at a core level. For a long time we just used the NIS to prop up a lifestyle that was just plain unsustainable and now we no longer have the $3,000.00 to keep reality out.
Numero,

Dependency syndrome is how trinis thrive....imagine even if you don't make the 750 contributions you are entitled to a grant of THREE times what you put into the system so many ppl leave with substantial lumpsum payments and still seek assistance from social welfare afterwards. Where else in the world can you do that.

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Re: NIB Deficiting ON u

Postby DMan7 » June 19th, 2022, 7:05 pm

Allya beating up about this too much. Just get rid of NIS and pension and let people save their own money when they young for when they reach retirement age.

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Re: NIB Deficiting ON u

Postby Numb3r4 » June 19th, 2022, 7:27 pm

^^^ While I alluded to that in my lengthy post above I don't believe that is the best option, it is an option, but it will be beneficial to have some sort of basic public safety net in the form of a pension scheme, however it must be properly managed, if that can not be guaranteed then the simplest form of a pension plan must be put in place to minimize the administrative costs and maximize the return to those who contribute.

If you don't want to do a contributory system but still want to give a pension then you can't expect to pay an equivalent value to that of the minimum wage, peg the pension to some percentage of the minimum wage and adjust your taxes, (VAT, sales, property business, corporate etc...) to suit. This would require constant adjustment however it would give the population a better indication of the health of the economy and an overall truer state of things.

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » June 19th, 2022, 7:37 pm

DMan7 wrote:Allya beating up about this too much. Just get rid of NIS and pension and let people save their own money when they young for when they reach retirement age.
That's the reason the system was created in the first place because ppl were not saving didn't even have money to bury themselves if they died and it was a financial burden on their families. Who working minimum wage really gonna save money for their retirement ? The system has to remain mandatory so that less fortunate can get relief , it's called social security for a reason.

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Re: NIB Deficiting ON u

Postby DMan7 » June 19th, 2022, 7:48 pm

As the saying goes "Who Ded, Ded" These people who aren't saving for their retirement has shown throughout their lives they have made bad decisions and poor choices. You make your bed you must sleep in it.

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Re: NIB Deficiting ON u

Postby Mmoney607 » June 20th, 2022, 12:03 am

Certain people in this country need a serious wake up call

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Re: NIB Deficiting ON u

Postby 88sins » June 20th, 2022, 12:13 am

hover11 wrote:
Dependency syndrome is how trinis thrive....imagine even if you don't make the 750 contributions you are entitled to a grant of THREE times what you put into the system so many ppl leave with substantial lumpsum payments and still seek assistance from social welfare afterwards. Where else in the world can you do that.

Everywhere
This post shows that you clearly have no idea of how the system works. So let me try to explain it to you.

Look at it like a company run pension plan, with an insurance company, where you the employee pay a portion (usually 40%), and the company pays the rest.
When you retire, you are entitled to the entire amount that's been accrued over the years. This is normal, and something that can be and is done in nearly every country on earth, and is usually listed in the terms of engagement. You want the insurance company to give you only what YOU PERSONALLY contributed, and give the company back what it contributed? If so, then why involve the company you work for to begin with, and why not opt out of the company pension plan in favor of setting up your own personal pension plan?
You're entitled to 3x your total contributions, because it was put in place in law that employees contribute 1/3 & employers 2/3, and that was done because in reality it's known that most companies don't care enough about their employees to set up retirement packages for all employees. It was set up this way, so that when employees retire, they continue have a source of income, because the company they worked for probably won't have put that in place.
Right now, as we live and breathe, unless you have a pension plan with the organization you work for, you will work for a company for 42 years, and the day you turn 60, they can legally retire you, and they are under absolutely no legal obligation to provide you with any form of gratuity or pension or compensation for your 4 decades of service. For most businesses, this means that all the loyal employee will you get is a foot in the rear to hustle him/her through the door and a fare thee well.

If it wasn't for the NIS pension system, even with its flaws, there would literally be tens of thousands of broke retired elderly with no income and no way to support themselves other than dependency on their families, or assistance from the state, or having to try to find gainful employment when they can't/shouldn't be working at all. Because if they have to find a job, they will be directly causing a reduction in the availability of employment opportunities for younger persons. That's not something we want either, either as an employer or a as a young person looking for work.


I hope this helps you and others understand a bit better.

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Re: NIB Deficiting ON u

Postby pugboy » June 20th, 2022, 6:56 am

all them unions complaining about the low offers but they dont talk about how they already have sweet pension deals all along regardless of 0% or whatever

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Re: NIB Deficiting ON u

Postby 88sins » June 20th, 2022, 11:22 am

pugboy wrote:all them unions complaining about the low offers but they dont talk about how they already have sweet pension deals all along regardless of 0% or whatever


Of course they don't
You feel they gonna explain to members that their dues being used to pay for luxury cars, overseas vacations, private pensions, and to support their lifestyle? That eh gonna go over well with the membership, when a man loss he wuk and can't feed his family but have to pay dues for a union jackass to use said dues to live large.

Allyuh feel unions in trinidad is a scam in joke.
Imagine, you paying dues for at a rate of $100/month for 20 years, and if you go to them and they have to take legal action against your employer on your behalf they telling you outright that they want 30-50% of the judgment should you win your case. And they intentionally gonna do all they can to drag that case out for YEARS, because every month that goes by you have to pay them dues.

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Re: NIB Deficiting ON u

Postby pugboy » June 20th, 2022, 11:34 am

its a great scam premised on the foot soldiers being sold a war against the people at the top
nothing wrong about that but being blindly lead along is not

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Re: NIB Deficiting ON u

Postby hover11 » June 20th, 2022, 11:48 am

88sins wrote:
pugboy wrote:all them unions complaining about the low offers but they dont talk about how they already have sweet pension deals all along regardless of 0% or whatever


Of course they don't
You feel they gonna explain to members that their dues being used to pay for luxury cars, overseas vacations, private pensions, and to support their lifestyle? That eh gonna go over well with the membership, when a man loss he wuk and can't feed his family but have to pay dues for a union jackass to use said dues to live large.

Allyuh feel unions in trinidad is a scam in joke.
Imagine, you paying dues for at a rate of $100/month for 20 years, and if you go to them and they have to take legal action against your employer on your behalf they telling you outright that they want 30-50% of the judgment should you win your case. And they intentionally gonna do all they can to drag that case out for YEARS, because every month that goes by you have to pay them dues.
Sins,

Don't we pay for car insurance and home insurance for years and in the event anything occurs do we get back anything? These entitles simply pocket our premiums, however, it is better to have insurance and be a member of a union in the event that something occurs. Suppose , that you were unfairly dismissed and you were not a member of a union , you would have to pay an outrageous amount just for them to hear your case or seek a lawyer to take up the matter as a high court matter.


In these times, 100 dollars is next to nothing , I don't even miss that coming out my salary. It is better to have peace of mind in case anything occurs.

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Re: NIB Deficiting ON u

Postby 88sins » June 20th, 2022, 3:18 pm

hover11 wrote:
88sins wrote:
pugboy wrote:all them unions complaining about the low offers but they dont talk about how they already have sweet pension deals all along regardless of 0% or whatever


Of course they don't
You feel they gonna explain to members that their dues being used to pay for luxury cars, overseas vacations, private pensions, and to support their lifestyle? That eh gonna go over well with the membership, when a man loss he wuk and can't feed his family but have to pay dues for a union jackass to use said dues to live large.

Allyuh feel unions in trinidad is a scam in joke.
Imagine, you paying dues for at a rate of $100/month for 20 years, and if you go to them and they have to take legal action against your employer on your behalf they telling you outright that they want 30-50% of the judgment should you win your case. And they intentionally gonna do all they can to drag that case out for YEARS, because every month that goes by you have to pay them dues.
Sins,

Don't we pay for car insurance and home insurance for years and in the event anything occurs do we get back anything? These entitles simply pocket our premiums, however, it is better to have insurance and be a member of a union in the event that something occurs. Suppose , that you were unfairly dismissed and you were not a member of a union , you would have to pay an outrageous amount just for them to hear your case or seek a lawyer to take up the matter as a high court matter.


In these times, 100 dollars is next to nothing , I don't even miss that coming out my salary. It is better to have peace of mind in case anything occurs.


Sonny Jim, here's the difference
When you pay for car insurance, you get what you pay for, and when you file a claim the insurance company not telling you they taking 50% of what the other persons insurance paying you.

As regards your claim that "$100 is nothing", multiply that $100 x 3000 members x 12 times a year and see how much of a nothing it sums up to be.

And pertaining to having to pay "an outrageous amount for them to hear the case, or hire a lawyer," I telling you, you will be better off financially simply hiring a lawyer from the start, every time. Because you can make arrangements with a lawyer, that he gets a percentage of your judgment as payment, and that's all he gets, not a percentage and a monthly payment for the 7 years he drags your case out for. You can even represent yourself if you have a strong case.

The unions here run by criminals with a desire to get into politics.

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Re: NIB Deficiting ON u

Postby De Dragon » June 23rd, 2022, 9:32 pm

hover11 wrote:
88sins wrote:
pugboy wrote:all them unions complaining about the low offers but they dont talk about how they already have sweet pension deals all along regardless of 0% or whatever


Of course they don't
You feel they gonna explain to members that their dues being used to pay for luxury cars, overseas vacations, private pensions, and to support their lifestyle? That eh gonna go over well with the membership, when a man loss he wuk and can't feed his family but have to pay dues for a union jackass to use said dues to live large.

Allyuh feel unions in trinidad is a scam in joke.
Imagine, you paying dues for at a rate of $100/month for 20 years, and if you go to them and they have to take legal action against your employer on your behalf they telling you outright that they want 30-50% of the judgment should you win your case. And they intentionally gonna do all they can to drag that case out for YEARS, because every month that goes by you have to pay them dues.
Sins,

Don't we pay for car insurance and home insurance for years and in the event anything occurs do we get back anything? These entitles simply pocket our premiums, however, it is better to have insurance and be a member of a union in the event that something occurs. Suppose , that you were unfairly dismissed and you were not a member of a union , you would have to pay an outrageous amount just for them to hear your case or seek a lawyer to take up the matter as a high court matter.


In these times, 100 dollars is next to nothing , I don't even miss that coming out my salary. It is better to have peace of mind in case anything occurs.

Dumb comparison. The chances of getting into an accident vs the chances of retiring are minimal.
You don't have to be a member of a union to seek, and get redress for a wrongful dismissal. Your union probably convinced you of that :roll:

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Re: NIB Deficiting ON u

Postby hover11 » June 24th, 2022, 2:10 pm

Amnesty Bill on NIS penalties, interest passed in House

https://www.guardian.co.tt/news/amnesty ... b0ea206416

Their business friends are going to be given an amnesty come next month. Politicians are too involved in state enterprises.

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Re: NIB Deficiting ON u

Postby Mmoney607 » June 24th, 2022, 7:41 pm

Hover you out there boy?

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Re: NIB Deficiting ON u

Postby The_Honourable » June 23rd, 2023, 5:06 pm

OWTU: Pointe-a-Pierre Branch: Worth a listen. Remember that mass retrenchment also reduces the contributions you NiB. They don't like to admit that. The are the creators of problems and the solutions always take from the working class. Bloodsucking vampires.

https://www.facebook.com/watch/?v=736666674812559


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Re: NIB Deficiting ON u

Postby death365 » October 15th, 2023, 8:53 am

So that's it .... 9 days pass so trinis move on already from the fact that the government said the will be moving the retirement age to 65.

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Re: NIB Deficiting ON u

Postby Dizzy28 » October 15th, 2023, 9:11 am

As Colm said you can still retire earlier. The people this affects are those who will depend solely on NIS for a pension

Those with private pensions will more than likely be unaffected.
death365 wrote:So that's it .... 9 days pass so trinis move on already from the fact that the government said the will be moving the retirement age to 65.

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Re: NIB Deficiting ON u

Postby zoom rader » October 15th, 2023, 9:48 am

Dizzy28 wrote:As Colm said you can still retire earlier. The people this affects are those who will depend solely on NIS for a pension

Those with private pensions will more than likely be unaffected.
death365 wrote:So that's it .... 9 days pass so trinis move on already from the fact that the government said the will be moving the retirement age to 65.
That's a trap cause the system is now designed for u to pay more bills and taxes. So when a person gets to 60 and they see that they don't have enough to live on, they will have to continue working.

For those that want to retire at 60 or before, Save , invest and be cheap.

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Re: NIB Deficiting ON u

Postby shaneelal » October 15th, 2023, 10:29 am

Some persons may prefer these options.


Time and time again, we have heard of the NIB’s recommendations to not only increase the retirement age from 60 to 65 years but to also increase the contribution rate. Although increasing the contribution rate will bring some short-term relief to the system, it will further squeeze the disposable income of our working population. There are, however, alternative measures that can be explored.

1) Vary pension payments

As it is, the sums contributed to the NIS vary as it depends on one’s salary but the pension received remains more or less the same. Although the NIB is founded on the principle of redistribution, it would be wise to categorically distribute the NIS pensions as per monetary contributions. This would not only model a private deferred annuity policy but also reflect a more realistic and sustainable insurance system.

2) Include self-employed persons to the NIS

Our society comprises of a large number of self-employed persons such as taxi drivers, farmers, plumbers, hairdresses, tailors, etc who upon retirement are sometimes left to depend on the government’s Senior Citizens’ Pension that can only be accessed from age 65. By allowing self employed persons to contribute to the system, the NIB will not only increase its contributors and contributions but will allow many persons to enjoy economic independence from the age of 60 and can also possibly lessen the burden of our consolidated fund from which Senior Citizens’ Pension is paid.

3) Lumpsums

Like a private annuity, the NIB should consider allowing the payment of lumpsums by those who so desire. This would not only increase the NIB’s monetary contributions but also promote savings and allow persons to receive a possible increase in their pension upon retirement, the dream of many.

4) Include Housewives & Differently Abled Persons

As our society also comprises of many housewives and some differently abled persons, by allowing such individuals or their representatives to contribute to the NIS, the NIB will once again not only increase its contributors and contributions but also promote financial literacy and allow these persons to enjoy economic independence upon achieving the age of 60. As some of these individuals may not be able to purchase a private annuity, the NIB will fulfil its societal obligations and offer them a new lease on life.


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paid_influencer
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Re: NIB Deficiting ON u

Postby paid_influencer » October 15th, 2023, 11:21 am



What does this mean?

To sum it up, this simply means that there is now no guarantee that upon retirement, one will receive his “pension” that he would have contributed to throughout his entire working life.


lol

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88sins
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Re: NIB Deficiting ON u

Postby 88sins » October 15th, 2023, 2:40 pm

The objective is this
Increase the age,-so they potentially pay you less in pension and collect more in contributions
Increase the rate-so you pay more
Decrease the pension to a staggered system-to motivate you to work longer and pay more and receive less

Depend on nis for yuh retirement and see how it works out.

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timothymcdavid
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Re: NIB Deficiting ON u

Postby timothymcdavid » October 16th, 2023, 8:58 am

What happens to those employees whose companies have a 60yr retirement age? Do they not benefit from pension till they reach 65?

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PariaMan
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Re: NIB Deficiting ON u

Postby PariaMan » October 16th, 2023, 10:48 am

People in the PSA and Teachers can go when they reach 33 and 1/3 with there non NIB pension. They receive their NIB at 60

So I suppose the same will hold if they raise the NIB pension age to 65

People will be able to retire before but just not get their NIB

However, we will have and see what the final proposals will be

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