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Pension
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Elder Rights
PENSION
US
Pension Panel Looks For Ways to Stop Costs from Soaring (September 22, 2008)
In Rhode Island, the conflict between pension benefits and their cost is typical of the struggles taking place in many states. Even though state workers contribute 8.75% of their pay, the state has been paying more than twice that—21.13% of payroll this year— to finance the defined-benefit packages. The state’s annual cost for these benefits skyrocketed from $31.8 million in fiscal 2002 to $136.5 million last year for state employees alone.
Rule Would Alter Public Employee Pensions (September 22, 2008)
A new regulation the IRS is pursuing would prohibit most public pension plans from allowing participants to retire and collect benefits earlier than age 55, with a preferred retirement age of 62. Labor unions and pension officials across the country are fighting implementation of the rule because many public pension schemes, such as the Nevada Public Employees' Retirement System, allow most participants to retire and receive benefits at any age after 30 years of service. Police and firefighters can retire even earlier.
Crisis Draws Attention to McCain Social Security Plan (September 22, 2008)
The proposals to privatize Social Security, particularly to carve private accounts out of Social Security, were controversial to begin with, and the new crisis has only heightened the concerns. The accounts are designed to generate greater returns than the government gets holding onto the money. But if workers invest their Social Security taxes in the stock market, what happens if the market is down when it comes time to retire? These are potent questions for voters, and the unfolding financial crisis could kill any chance this proposal had of becoming law.
City Pensions: Crunch Time, Mayor (September 19, 2008)
In Jacksonville, Florida, the local newspaper is urging the mayor to curb pension benefits in the forthcoming contract negotiations with the city’s employees. Citing a study concluding that the city's pension benefits were excessive and unsustainable, but not providing any data or evidence to support this claim, the paper urges the mayor to draw a hard line and practice financial prudence.
WORLD
France: Pensions – What You Should Save (September 24, 2008)
(Article in French)
Pensions are on a steady decrease. Inflation will add to the difficulties of the generation of baby boomers. The pension plans offered by companies may also provide negligible benefits. The article recommends purchasing real estate and early pension contributions. Effective financial management, in this case, requires another solution: how to choose the best interest rates to compensate for inflation.
United Kingdom: Lehman Brothers Reveal
100 Million Pounds Pensions Hole (September 23, 2008)
Lehman Brothers in Britain collapsed with a mammoth 100 million Pounds black hole in its staff pension fund. The deficit means that many former staff in Britain may not have their retirement promises met in full. The size of the shortfall surprised experts. John Ralfe, a pensions consultant, said: “One way or another, the members of Lehman’s UK pension scheme will lose out.”
France: Funding Pensions: How About a Referendum? (September 22, 2008)
(Article in French)
Very few French companies have implemented a vision or a long-term project concerning the employment of older workers. Most of the time, the latter are subject to the ups and downs of the economic situation. According to the journalist, this is a drawback for the whole of the active population: the income of those in employment and of those who have retired decrease alike. The solution would consist of organizing a referendum to expose these issues—that have a social as well as an economic dimension--to the public eye.
Philippines: Pension Funds Hit For Silence on Lehman Investment Exposure (September 22, 2008)
The Government Service Insurance System (GSIS), which includes almost half a million teachers and non-teaching staff nationwide, and the Social Security System SSS, the biggest government-operated pension fund for private-sector employees and workers, have both been criticized for not publicizing their exposure to the financial crisis in the United States. The Trade Union Congress of the Philippines (TUCP) slammed the GSIS for its “absolute lack of transparency with respect to its investments overseas.”
United Kingdom: Teresa Hunter Tells Investors How To Salvage Their Battered Retirement Plans (September 21, 2008)
Although many consumers are withdrawing cash from their pensions, this may not be the best way to preserve their pension assets over the long term. Stock market volatility hits different kinds of savers in different ways depending on whether they have a final salary scheme, money purchase arrangements or personal pension savings. It is vital for future retirees to understand fully their pension scheme and to plan, save and even consider working a year or two longer.
United Kingdom: Union Anger over
Two Per Cent Pensions Cap (September 20, 2008)
Due to the concerns about their ability to fund the company’s pension plan, Legal and General, a UK company, placed a 2% cap on future pay raises for the purposes of pension calculations. That means that if staff gets a 4% wage increase, only half of that will boost their pension. Deputy general secretary Graham Goddard says the union is considering a legal challenge and possible industrial action.
Netherlands: Credit Crisis Set to Hit Pensions (September 19, 2008)
Hundreds of thousands of pensioners in the Netherlands will feel the effects of the worldwide credit crisis next year as pension funds decide not to increase payouts in line with inflation. Falling share prices mean many funds may not have enough cash to increase payouts, the report says. Pension funds have increasingly moved their investments into shares in recent years. Trade Unions will be pressured to agree to wage moderation in order to keep inflation under control.
Hong Kong: Building Maintenance Grant Scheme for Elders (August 2, 2008)
(Article in Chinese)
Hong Kong has launched a building maintenance grant scheme for elderly owners. Elderly owners and occupiers can make use of this financial scheme to repair and make safety improvements to their self-occupied buildings. Each owner/occupier over 60 years old is eligible for a maximum of HK$40,000 (about 5,500 US Dollars) within a 5-year period. This plan is expected to benefit some 30,000 seniors and is expected to cost the government HK$1 billion (about 135 million US Dollars).
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HEALTH
US
Vitamin C Protects Some Elderly Men from Bone Loss (September 26, 2008)
Bone mineral density, bone status and fracture risk are related to many more nutrients than just calcium. Researchers from Tufts University found that one of the essential nutrients is Vitamin C, particularly contained in fruits and vegetables. It protects against inflammation—a contributor to bone absorption and bone loss--as well as being essential for the creation of collagen to strengthen bones. However this applies exclusively to men. Women who suffer from bone loss, often associated with osteoporosis, earlier and more frequently than men do not benefit from Vitamin C.
Why Kidneys from Older Donors Do Not Last As Long As Those from Younger Individuals (September 25, 2008)
A high donor deficit in kidney transplants led to an increase of transplants from older deceased people. The Stanford University Medical Center analyzed the structures of kidneys from 20 aging (over 55 years) and 23 youthful (under 40 years) deceased donors. Results indicated a 32% depression of the glomerular filtration rate, a measure of the kidneys' ability to filter and remove waste products, in the aging versus youthful groups. This leads to a self-perpetuating injury in the rest of the kidney, ultimately contributing to a shortened survival of the transplanted organ.
Flu Shots: What's Your Excuse? (September 25, 2008)
Despite huge supply, too few people get flu vaccine. Young children and older persons are especially vulnerable to serious flu complications. Overall, 72% of seniors get their flu shots, ranging from 63.7% in Florida to 81% in Rhode Island. The Centers for Disease Control goal is to vaccinate 90% of seniors in 2010. The CDC advises people to do a second shot after Christmas because over 80% of the time peak flu season does not arrive until January or later, and over 60% of the time peak flu season doesn't hit until February or later.
Boomers Should Add Muscle Before It's Too Late (September 24, 2008)
A Ball State University study finds that seniors should strengthen their whole muscle and fiber size through resistance training. They advise starting the training at the age of 60 or 70, rather than 80. Aging eventually causes a loss of "fast-twitch" muscle fibers that reduce the ability to produce the explosive movements that allow us to move our feet and arms rapidly to avoid falling.
Prostate Cancer Hormone Therapy May Raise Mortality (September 23, 2008)
Researchers reviewed records of more than 1,700 men at least 70 years of age with early-stage prostate cancer who were treated with a 3.5 months hormone therapy before undergoing brachytherapy. Results suggest that hormone therapy decreases levels of androgen, a hormone that stimulates the growth of prostate cancer cells. After an average follow-up of five years, the men who received hormone therapy were 20% more likely to die from any cause compared with the men who received brachytherapy alone.
The Cost, Choices of Health Care in Final Months (September 19, 2008)
There are five primary ways people cover the cost of care in the final months of life: Medicare (ages 65 and over and those with disabilities), Medicaid (for low-income people), insurance, out-of-pocket and unpaid care by family and friends. The use of medical care in the last months of life varies enormously depending on the geographic location. A comparison of Miami, Florida and Portland, Oregon is described in the article.
WORLD
France: Few Variations of Back Pain in Retirees (September 29, 2008)
(Article in French)
Retirees with varying degrees of physical activity during their professional lives experience similar back pain both in intensity and frequency. Aside from excessive weight, poor posture or bad habits of lifting, physical activity that puts a strain on the spine does not affect back pain in later life. These are the results of a 2002-2003 survey, presented in Paris during the International Congress of Epidemiology. A new survey should follow in 2012-2013.
United Kingdom: Statins Can Prevent Premature Ageing of Arteries (September 29, 2008)
New research by the British Heart Foundation (BHF) has shown that statins not only lower cholesterol but also stop arteries from aging prematurely in patients with advanced heart disease. Cells in the human body can only divide and replicate a limited number of times. The more dividing cells undergo, the older the tissue, and the higher the risk of damaged DNA. The cells in the arteries of people with heart disease, however, divide between 7 and 13 times faster than normal, resulting in premature ageing of arteries. Statin treatment may delay cell senescence and promote DNA repair in atherosclerosis.
World: Fractures in Older People (September 17, 2008)
(Article in French)
California researchers have showed that the risk of fractures for older people doubles with the time spent in hospital. This is due to being immobilized, making the bones more fragile by diminishing density. The study, which was carried out over a 6 year period, involved more than 3000 people aged between 70 and 79 years old. The researchers call for an assessment of the causes, and hope to find ways of reducing the fracture risk subsequent to hospitalization
France: Two Recipes to Age Healthily (September 16, 2008)
(Article in French)
Several meetings on how to remain healthy while aging took place in Paris. Among other things, it was recommended that as people grow older they invest time in both intellectual and emotional activities so as to maintain high memory capabilities. They were also advised not to ban exposure to sunlight, because the latter facilitates the production of Vitamin D and is therefore beneficial to the bones.
Sweden: Older Men Could Have Children with Psychological Bipolar Disorder (September
3, 2008)
(Article in Arabic)
Recent research has indicated that older men above the age of 55 are 1.37 times more likely to have children with bipolar disorder or other psychological problems. Researchers have said that this situation could be due to genetic errors in aging sperm.
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ELDER RIGHTS
US
Violations Reported at 94% of Nursing Homes (September 29, 2008)
Federal inspections of nursing homes this year yielded a 94% violations rate. While 17% of reported deficiencies related to “actual harm or immediate jeopardy,” the overwhelming majority was cited for unqualified staffing and illegitimate reimbursement from Medicare and Medicaid. For-profit nursing homes were charged with the highest number of violations, as opposed to non-profit and government homes.
Too Old to Dance with the Stars? (September 25, 2008)
Eighty-two year old contestant Cloris Leachman wowed judges, audience members, and doctors alike with her performance on “Dancing with the Stars.” While many may consider such activities to be too strenuous for seniors, such forms of exercise—when practiced carefully—benefit older persons both physically and mentally, doctors say.
Race in America (September 23, 2008)
The US presidential election has centered heavily around the issues of race and gender. Sociological research reveals that elderly white Americans are more inclined to follow their racist predispositions in determining their vote this November. Their prejudices, however, may be more than a generational oversight, researchers say. The effects of aging on the frontal lobes of the brain may have some determinative power over the way in which seniors can relate and inhibit their racial biases.
10 Secrets to a Financially Secure Retirement (September 23, 2008)
This articles shares ten “secrets” to ensure a financially secure retirement. Impulsive and rash decision-making is discouraged. Seniors are encouraged to add stock to their retirement portfolio, despite the current economic situation on Wall Street, which will usually surpass the returns on other investments. Furthermore, delaying collecting Social Security beyond the minimum age of 62 will greatly increase long-term benefits.
Baby Boomer Examiner: Wall Street Jitters Force Baby Boomers to Rethink Retirement (September 23, 2008)
The current economic blow on Wall Street has impacted early retirement plans for most baby boomers. Despite the potential hardship, most baby boomers should remain in the work force in order to increase and secure their existent savings and investments, some say. A difference of about five working years could significantly stabilize retirement funds and increase benefits from Social Security.
State Can't Afford to Ignore Data on End of Life Care (September 19, 2008)
Survey research shows that when asked what people want for end-of-life care, 83% said they would like to spend their last days at home. This contrasts sharply with the fact that only about 25% of Americans actually die there. Patients who choose hospice care more often get their wish to die at home. Nationally, less than 10% of hospice patients die in the hospital. And nationwide, over 95% of all families who have experienced hospice care for a loved one would recommend hospice to others.
We're Aging, but Our Care System Isn't Keeping Pace (September 18, 2008)
Six million Americans over age 65 need long-term care. Despite families' considerable efforts to provide care themselves, and despite huge public expenditures, the system is still failing many families and individuals. Many people are still left to struggle with unmet needs and catastrophic costs. Medicaid was originally designed to be a safety net for families. Unfortunately, Medicaid has become our largest payer of aging services and the sole long-term care insurance policy for most Americans. The system is not working, and greater effort is needed to define workable alternatives.
Invisible and Overlooked (September 18, 2008)
A growing population of lesbian and gay senior citizens seeks recognition for their unique needs and challenges. The recognition is much needed since older people spent much of their lives hiding their sexuality and have memories of being shunned and isolated. Gay seniors are faced with unique challenges: they are more likely to live alone and not having any caretaker. Many face discrimination in medical and social services, stay uninsured and are at high risk for HIV. It is time to redefine what it means to be a senior.
WORLD
Reunion Island: ‘The Older People Charter Must Be Enforced’ (September 27, 2008)
(Article in French)
ARPA, the Reunion Island Association for Older People, asks for the enforcement of the charter that was signed in early 2008 during local elections. This charter aims at guaranteeing the dignity of older people by ensuring their material and financial support. Fabrice Tendrayen, President of ARPA, wants the elected candidates to focus on the charter. Despite the promises from the local authorities to address the provisions of the charter in 2009, the President insists that ARPA will not let go of the Charter issue, even after the budget is adopted.
Australia: Crisis Looming in Aged Care Services, Says Productivity Commission (September 26, 2008)
By 2047, Australian seniors aged 85 and older will increase from the current 400,000 to 1.6 million, researchers say. Increased diversification in ethnic background, socio-economic status and preference will further complicate the existing demand for care services for the elderly.
Scotland: Edinburgh to Host Giant Tea Party to Mark Older People’s Week (September 26, 2008)
SuperJam and the Edinburgh City Council will host a giant tea party to celebrate Older People’s Week from October 1 to 5. About 100 SuperJam tea parties are to take place across the United Kingdom. The tea parties will sponsor events such as a ‘knitathon,’ whose proceeds will be donated to an Indian orphanage.
Vietnam: Dancing Old Age Away (September 24, 2008)
Vietnamese seniors are finding themselves happier and healthier than ever, after enrolling in dance classes. Older persons suffering from high blood pressure, diabetes and cardiovascular complications found relief by engaging in new dancing activities. Enrollment in the classes has been increasing as news of the health benefits spread. Nguyen Phi Lam, a dance teacher at Gia Dinh Park has seen classes increase from one class of less than 10 people to 3 classes totaling almost 200 over the last 2 years. Additionally, weekly dance sessions allow seniors to socialize and meet new people, promoting overall happiness.
Japan: A Japanese Company Today Unveiled a Wearable Airbag for the Elderly that Pops Out When They Fall (September 24, 2008)
The Tokyo-based company, Prop, has unveiled a wearable airbag aimed at the protection of older persons. Seniors are far more prone to serious injury when suffering from a fall, more than any other demographic group. The airbag, which inflates in one-tenth of a second, protects both the head and the buttocks from potential impact.
Canada: Half of Elderly Canadians Online; Nearly 1 in 5 of Those Social Networking (September 24, 2008)
Nearly half of Canadian seniors use the Internet for e-mailing or research purposes. Out of those users, a study shows that 1 in 5 also use the Internet for social networking. There has also been a decline in traditional media usage, such as television since 2004, yet figures suggest that the Internet does not replace traditional media usage, but supplements it instead.
France: Recruitment of Older Workers: Where does France Stand? (September 22, 2008)
(Article in French)
France lies behind her European neighbors in terms of older workers’ employment. Executives are the exception, the rates demonstrating a full-employment situation. Overall, France is still far from reaching the objectives set in 2000 during the Lisbon Conference, i.e. 50% of the older population in employment by 2010.
Malaysia: R&R Centre for Seniors (September 19, 2008)
A rest and recreation centre for senior citizens and orphans built on 4ha (10 acres) of land in Ampang, Kuala Lumpur, is almost complete. The 2 million US$ complex is the brainchild of Lin Chua, the founder and chairman of an NGO called the AUTORR Foundation (Aged Unite to Organise Rest & Recreation). According to Lin, “The elderly residents with their wealth of experience will be able to groom and guide the orphans. Personally, they will have new meaning and a fresh vision to enjoy life in a significant way.”
Canada: Kensington Health Centre Partners with University Health Network to Establish World-Class Community-Based Residential Hospice Home in Toronto, Ontario (September 18, 2008)
Scheduled to open in late 2009, Kensington's new Hospice Home will be available to provide end-of-life care to people who reside in the Toronto area. The collaboration with the University Health Network and the palliative team at Princess Margaret Hospital will provide the Kensington health care team with an opportunity to work with internationally renowned experts in the field of palliative care, education and research. Key areas of focus include mentoring medical, nursing and other health professionals in the palliative care model, development and application of comfort measures and pain management and bereavement counseling techniques.
Japan: More Elderly Venting Frustration at Government Offices (September 17, 2008)
Even in Japan, where people are normally polite and respectful, bureaucracy and officialdom are causing older people to become angry. A book, "Boso Rojin" (The elderly running out of control), has been published in Japan, and its author, Tomomi Fujiwara, explains, "The elderly build up emotional conflicts caused by stress and isolation, and when they feel disrespected, such emotions sometimes turn into rage and explode outward." Many local government offices are asking their older employees to deal with elderly customers in order to improve communication and understanding.
Malaysia: Senior Citizens Welcome Move (September 16, 2008)
Groups representing the disabled and senior citizens welcomed the government's plan to replace foreign workers with Malaysians for jobs that are "not dangerous, dirty or difficult.” Initially, hypermarkets--especially the foreign-owned ones--would be asked to take measures to cut the number of their foreign workers and replace them with Malaysian citizens. However, the CEO of a local recruitment agency commented that foreign workers are preferred to locals as they do not take leave and can be called to work any time.
Middle East: The Elderly and the Institutional Organization (September 10, 2008)
(Article in Arabic)
Elderly rights should not be confined to the medical and social care of the needy. Older people need a large system of institutions and policies much greater than just direct care. In Western communities the various institutions and organizations caring for old people are diverse and efficient. Going to such centers does not result from family neglect or disability, but reflects the needs and wishes of seniors.
Kuwait: The Price of Nuts and Loans and Historical TV Series are the Chats of Elderly Traders in the Stock Exchange (September 4, 2008)
(Article in Arabic)
Older traders come to the market almost two hours before opening to share beautiful memories of the past. The trader Mansour Al-Fadly commented that these talks between older traders elderly are important especially during Ramadan and cover a wide-range of topics, including investment and market details.
Saudi Arabia: Literacy Rates Have Increased by 13.7% in Saudi Arabia Mainly Among the Elderly (August 25, 2008)
(Article in Arabic)
While literacy rates differ throughout the provinces of Saudi Arabia, overall, the rates improved in the kingdom. Older persons are increasing their literacy rates faster than any other demographic segment of the population.
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