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Bill: Pensions Act
Details
Submitted by[?]: We Say So! Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 2293
Description[?]:
| In order to allow for people to be guaranteed an income after they retire the Government will operate a compulsory pension scheme which will be funded via National Insurance Contributions. This payment will be indexed linked to average wages and will be modified in line with aformentioned wage rates. Citizens will also be allowed to place money into Private pension schemes, should they wish to do so, in order to allow for an increase in their income after such time as they should choose to retire. These schemes will be regulated by the Government to guarantee that high quality service provision is maintained at all times, however as with all Private schemes, the citizen will be expected to accept any risks involved with aforementioned schemes. Should any citizen believe that any Private shceme is not providing that which was agreed then they may request that the Governments pension Watchdog investigate any such unsatisfactory treatment. Should the Private Company be found guilty of not upholding their agreement then they will be forced to uphold said agreement as well as pay out limited compensation to the consumer. Should any consumer be found to have brought about an unfair complaint then they will be expected to pay the full costs involved for any investigation. Though the official age of retirement, at full pension entitlement, will continue to be 65, people wishing to take early retirement can do so at age 60, however they will lose 10% of full pension retirement. This entitlement will increase by 2% for each year that a person remains in employment until the age of 65. Furthermore, should a person not wish to retire at age 65 but rather continue in full-time employment they will be allowed to do so. For each additional full economic cycle that they remain in employment their pension entitlement will increase by 1% up to a maximum of 10% above standard entitlement. |
Proposals
Article 1
Proposal[?] to change The government's policy concerning the pension system.
Old value:: The state operates a compulsory, public pension system.
Current: The state operates a compulsory public system combined with an optional private pension.
Proposed: The state operates a compulsory public system combined with an optional private pension.
Article 2
Proposal[?] to change The professional retirement age.
Old value:: 65
Current: 75
Proposed: 60
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 187 | ||||
| no |
Total Seats: 154 | ||||
| abstain | Total Seats: 59 |
| Random fact: Any RP law granting extraordinary "emergency powers" or dictator-like powers to a government must be passed by at least a 2/3rds majority, but (like all RP laws) may always be overturned by a simple majority vote of the legislature. |
| Random quote: "We shall fight against them, throw them in prisons and destroy them." - Vladimir Putin |