Exact(5)
Norway built up a massive sovereign wealth fund from the revenues of North Sea oil, in order to support pensions and welfare expenditure.
Banco de México, the country's central bank, will manage the fund, which will support pensions, science and technology, infrastructure investments, and scholarships.
Dr Jeffrey Harmer, who led the 2008 review of the adequacy of the aged and disability support pensions, was announced as chair of that committee last month.
However, measured by public social spending (eg income support, pensions, health) as a proportion of GDP, Britain's is not much bigger than the OECD average; 24.1% against 22.1% as of 2009.
And if we look at the "dramatic" increase since 2007, a rather different picture emerges than one Andrews would suggest wherein the major problem is the growth of people on disability support pensions (DSP) and Newstart: Seventy-one percent of the increase in welfare payments from 2007 to 2012 was in age pension payments.
Similar(55)
Take the disability support pension numbers.
"Will they be forced off the disability support pension?
The Age Pension, Disability Support Pension and other payments will be cut, as will family payments.
Others demonise people with disabilities – or disability support pension recipients – as slackers and rorters.
From September 2017 (so after the next election) the age pension and the disability support pension will be indexed to inflation, not to wages.
He pointed out that raising taxes to support pension funds punishes young working people, who are typically in debt with mortgages and credit cards.
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