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The Latest Breaking News from Social Security

Boomer retirees’ 2024 COLA is still set to get slashed by more than half

Social Security's 2024 COLA will be far less generous than this year's.

Fortune

Three Reasons to Claim Social Security as Soon as You Retire: Why Wait?

Let’s consider a couple of scenarios where it might make more sense to opt into your Social Security benefits sooner rather than later.

Kiplinger

Tax Benefits of Hiring Your Kids Plus IRS Rules to Follow

Hiring your child can potentially lower your tax bill and help kids develop skills, but there are some rules you need to know — and follow.

Kiplinger

From analysis to the latest developments in health,
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The High Costs of Senior Caregiving

Out-of-pocket costs for caregivers average about $7,000 per year. Here's how to get some help.

Kiplinger

Up to 100,000 Centrelink debts or potential debts miscalculated over two decades, ombudsman finds

‘Unlawfully apportioning’ income could cause incorrect calculations on welfare payments but practice unrelated to robodebt, report says

The Guardian - AU

‘Disappointing’: Labor blocks robodebt royal commission recommendation

The robodebt royal commission recommended scrapping a rule that allows the government to chase debtors in perpetuity. Labor voted against it.

Crikey

Distribution of ₹1,729-crore social security pensions to begin in Andhra Pradesh on August 1

The Andhra Pradesh government has made all arrangements for the distribution of social security pensions under the YSR Pension Kanuka scheme on August 1 (Tuesday). Deputy Chief Minister Budi Mutyala Naidu, in a statement on July 31 (Monday), said that the pension of 62.77 lakh beneficiaries for July would be…

The Hindu

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Fresh clause in T.N. welfare scheme to benefit families of manual, inter-State migrant workers

If a manual worker dies due to an accident at a worksite, his/her nominee or legal heirs are eligible for financial assistance for transportation of the body of the worker, from hospital to their native place. It would apply to inter-State migrant workers too and a clause to this effect…

The Hindu

‘I’m desperate’: Single mother students forced to repay benefits paid in error

DWP asks one postgraduate to find £24,000 despite being told she was entitled to the universal credit claim

The Guardian - UK

Federal Government’s Massive Fiscal Shortfall Revealed In Treasury Report

U.S. Treasury's Shocking Report: $124.1 Trillion in Debts and Unfunded Obligations

Zenger

What Is Insolvency in Business? Definition & Possible Outcomes

Insolvency is the inability of an entity to pay its debts. In business, this usually means that a company’s liabilities (debts) are worth more than its assets, or more than the company itself. Were an insolvent company to liquidate its assets, it still wouldn’t have enough money to meet all…

The Street

Looking to Retire? What is the Ideal Retirement Age?

Retirement continues to cause stress for Americans, as 44% state they're not on track to retire with the lifestyle they want. Here's how to fix that.

Barchart

Income Taxes and Your Social Security Benefit

Many who receive Social Security will owe taxes on some of their benefits. Here’s how that works, plus ways to reduce taxable income in retirement.

The Street

Women domestic workers of Bengaluru demand fair wages and social security

Organised by the Domestic Workers Rights Union and spearheaded by activist Geeta Menon, the event sought to address hardships faced by these workers in the city, including poor working conditions and denial of wages.

The Hindu

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Al Jazeera

Indian state’s new tax on digital platforms sets gig workers against firms

The new law will impose a tax on each transaction on digital platforms to fund welfare scheme for gig workers.

Kiplinger

The Future of Retirement: Longer Lifespans and Changing Needs

Retirement will look different in the future, as we adapt to longer lifespans and changing needs. Here's how to prepare.

Roll Call

Biden taps Martin O’Malley for Social Security commissioner - Roll Call

Former Maryland Gov. Martin O’Malley would be the first Social Security commissioner nominated by a Democratic president since 2001.

Reason

Under Multiple Budget Scenarios, the Government's Numbers Still Don't Add Up

Balanced federal budgets aren’t even considered as a possibility.

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news in one place.

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The Hindu

Drawn from gig workers’ struggles, hewn in Rajasthan

The Rajasthan Platform Based Gig Workers (Registration and Welfare) Act 2023 is the first such law in India, and perhaps the first gig worker-specific social security law in the world

Reason

Nearly 200 School Districts Are Suing Social Media Platforms

Plus: court strikes down Arizona law against filming cops, GOP candidates want to cut Social Security for young people, and more...

Kiplinger

Four Ways to Navigate the Bumps of Today’s Volatile Market

Adjusting investment strategies is a smart move, and so is making those financial decisions based on long-term optics rather than short-term fears.

Kiplinger

Spending Differences in Boomers vs. Millennials

Data show differences between how generations spend, including what challenges they face.

Kiplinger

Is Your Financial Plan Ready if U.S. Raises Retirement Age?

Being ‘ready’ involves more than just waiting as long as possible to start collecting your Social Security benefits.

The Hindu

Panneerselvam, Dhinakaran criticise State govt. over hike in pension of social security schemes

AIADMK's Panneerselvam & AMMK's Dhinakaran criticize DMK govt for only increasing SSP by ₹200 instead of ₹500 as promised. Panneerselvam suggests ₹2,000 pension, Dhinakaran demands ₹2,000. AIADMK's Jayakumar condemns Manipur incident & urges Centre to resolve core dispute.

The Hindu

Beneficiaries of pension schemes to get ₹1,200, announces Finance Minister Thangam Thennarasu

Beneficiaries of social security pension schemes implemented by various departments of the Tamil Nadu government will get ₹1,200 instead of ₹1,000 per month, said Finance Minister Thangam Thennarasu.

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