Social Security

The number of U.S. workers drawing state unemployment benefits scaled another record high early this month, government data showed on Thursday, highlighting the difficulties of getting new jobs as the economy battles a severe recession.

NEW YORK - President-elect Barack Obama and Congressional Democrats are considering a major expansion of government-assisted health care insurance and unemployment benefits as part of a two-year economic recovery program, The New York Times reported in its Sunday editions.

Americans eligible for tax rebates of $300 to $1,200 under the new fiscal stimulus act will not receive their payments until they file a 2007 income tax return, even if they make too little to owe any taxes, the Internal Revenue Service said on Wednesday.

Tax payers can expect to receive rebates starting in May, after President George W. Bush today signed into law a bill authorizing payments from $300 to $1,200 to more than 130 million people. The rebates are part of $168 billion plan approved by lawmakers this month to give a booster shot to the slowing U.S. economy. The stimulus package also includes tax breaks for businesses when they invest in new plants and equipment.

A recent nationwide survey of over 60,000 households by National Council of Applied Economic Research (NCAER), New Delhi and Max New York Life has revealed that people in India do not plan for long-term future and keep away from investing in long-term instruments though they save for long-term goals such as emergencies, education and old age.

Those online retirement calculators are handy and dandy. Pop in a few numbers and they tell you whether you're on track for the retirement of your dreams... or, more likely, that there's been a serious derailment.

The U.S. Treasury on Monday issued the first of a series of papers aimed at jump-starting debate over Social Security reform, saying the system faced a present-value deficit of $13.6 trillion.

A study has revealed that at least 86 percent of working Indians earn less than Rs. 20 or just under half a U.S. dollar a day in spite of the blistering pace of growth of the nation's economy.

The number of new claims filed for U.S. jobless benefits fell unexpectedly in the latest week, dropping 8,000 to the lowest level in two months, the government said on Thursday.

American workers shouldn't count on making up for inadequate savings by planning to work into their retirement years, since such plans are often doomed by unexpected health problems, Fidelity Investments said Monday in releasing findings of a retirement planning survey.

Retirement is supposed to be a time of relaxation after years of hard work. Yet, many people experience post-retirement problems that make their “easy days” not so stress free. To avoid this kind of predicament, here are 10 common retirement mistakes that you should avoid, so that you can enjoy a happy and peaceful retirement.

Federal Reserve Bank Chief Ben Bernanke said on Wednesday there is a need for U.S. consumers to save more money. However he added that “no silver bullet” has yet been found for a way to increase household savings.

Workers who enrol in the proposed new national savings system may not be able to easily take existing pension pots with them if they change jobs.

U.S. Treasury Secretary Henry Paulson said on Friday that high energy and health care costs were interfering with Americans' ability to feel the benefits of a solidly growing economy.

President George W. Bush will wrap up conferring with his economic team on Friday on ways to keep the economy growing against a backdrop of higher interest rates, mixed data and fears of rising inflation.

Despite all the talk about the shaky future of Social Security, its potential shortfall isn't the biggest risk for future retirees. They should be worrying about Medicare instead.

China's efforts to defuse what experts have called its pension time bomb have created a multibillion-dollar opportunity for domestic and international fund managers.

It wasn't too long ago that most people simply bought whatever insurance was mandated by the government and lenders, or recommended by insurance agents and friends.

We've heard the adage that to become physically fit, we need to eat less and exercise more. The corollary for fiscal fitness is to spend less and save more.