A boarding house or small hotel in Europe: "A pension had somewhat less to offer than a hotel; it was always smaller, and never elegant; it sometimes offered breakfast, and sometimes not" (John Irving).
Accommodations or the payment for accommodations, especially at a boarding house or small hotel in Europe.
A sum of money paid regularly as a retirement benefit or by way of patronage.
A stated allowance to a person in consideration of past services; payment made to one retired from service, on account of age, disability, or other cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers, the families of soldiers killed in service, or to meritorious authors, or the like.
Few investments are more important than the one you have in your pension plan. Because the average American will rely on pension savings for 18 years after retirement, it is essential that you understand your rights and obligations under your pension plan. Participants in pension plans have certain rights that...
Germany is well known as a country with many unfunded pension liabilities. However, many companies are reviewing their approach to pension funding and there is a move towards the concept of matching assets to pension liabilities. This article takes a look at some of the issues driving this trend and...
The paper highlights that Canadian Association of Pension Supervisory Authorities CAPSA issued the Proposed Regulatory Principles for a Model Pension Law Model Law Principles. The proposal for the pension law is based on the current provisions of Quebec's Supplemental Pension Plans Act SPPA. CAPSA believes that the pension committee model...
This paper explore the links between retirement plan offerings and pension expenses for a wide range of private and public sector pension plans, using an invaluable new data set on almost two thousand Australian pension funds. The results imply that plan design has a substantial impact on pension plan expenses...
The financing of pension liabilities is now firmly a boardroom issue for most multinationals. Over the last couple of years, many chief executives would be forgiven for thinking of pensions as a naughty child seeking attention by continually creating bad news and difficulties even for the well-run corporation. Having muscled...
The article explore recent international developments in pension plan type, examine issues pertinent to pension investments, and evaluate the global trend toward social security privatization. The goal of the discussion is to assess how these new pension models will respond to the demographic, political, and financial challenges of the next...
NEW YORK -- Merrill Lynch (NYSE: MER) today announced the development of a new U.S. Pension Index series designed to track the performance of U.S. pension liabilities. The indices are compiled based on sample projected pension plan liabilities, provided by Mercer*, for a "typical" young, mature, retired and average U.S....
Pensions are a hot topic for lawmakers and regulators these days. British Columbia and New Brunswick have both recently enacted changes to their pension rules. Changes are also pending federally and in Nova Scotia. Both Alberta and Manitoba have circulated policy proposals that could lead to larger-scale changes in those...
Pension funding has been getting a lot of attention lately. Hardly a day goes by without a new pension issue making front-page news. From the beleaguered pension plans of the airline industry to the potential bankruptcy and possible federal bailout of the Pension Benefit Guaranty Corporation PBGC, pension issues have...
Even if Congress approves legislation giving commercial airlines pension funding relief, Delta Air Lines Inc. may terminate its pension plans, resulting in a multibillion dollar loss that could be the biggest ever for Pension Benefit Guaranty Corp., the federal pension insurance agency. Delta filed for Chapter 11 bankruptcy on Sept....
This paper examines the empirical question of whether systematic equity risk of firms as measured by beta from the Capital Asset Pricing Model reflects the risk of their pension plans. There are a number of reasons to suspect that it might not. Chief among them is the opaque set of...
The paper depicts about a case and summarizes that following the amalgamation of NN Life with Halifax Life to form NN Life, the defined benefit pension plans of the two companies were 'merged'. At the time, Halifax Life's pension plan was in a surplus position, while NN Life's pension plan...
In the thirty years since the introduction of the Employee Retirement Income Security Act, tremendous changes have taken place in the US private pension environment. As the change matures, it is becoming clear that the problem of optimal pension scheme design has not been solved. On the contrary, much work...
The paper informs that the start of the New Year combined with the recent proposal from the Bush administration on pension reform provides an opportune time to revisit the status of US corporate pension plans. Long-term interest rates have remained depressed a negative for these plans. However, strong asset returns,...
Choosing between pension options can be a difficult task. Choosing an option that guarantees your spouse pension benefits after your death means extra security but also lower monthly benefits. On the other hand, choosing a pension option that only pays through your lifetime can provide larger monthly payments, but it...
U.S. pension plans' funding level drops in February PITTSBURGH - U.S. pension plans' funding level declined by 3.4 percentage points in February, according to Mellon Financial's pension liability indexes. The funded status of pension plans had been U.S. pension plans' funding level drops in...
When Lucent Technologies recently announced it would take a $1.3 billion gain from its pension surplus, some observers scoffed at what they saw as yet another earnings ploy. Yet company officials say the windfall is the natural result of separating its pension plan from AT&T's and bringing its accounting practices...
Workers may be tempted to shrug their shoulders and write off the pensions as "lost." Indeed, some pensions may in fact be gone forever. In many cases, though, the pension money is sitting safely in a fund, waiting only for the worker or a surviving spouse to come forward to...
Recent events have prompted a growing awareness of the need for internationally comparable pension accounting standards. This document examines recent and anticipated changes in worldwide accounting practices, and our focus is on the issue of whether pension accounting standards are consistent with the economics of pension finance. The document examines...
A good pension management system requires processes involving effective decision-making, timely execution and regular assessment. Assignment of responsibilities to the right people having access to the right information subject to the right performance review is necessary for a good pension management system. The paper explores the application of these principles...
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