OLDER PEOPLE UNDER FINANCIAL PRESSURE

OLDER PEOPLE UNDER FINANCIAL PRESSURE

Thousands of older people across Britain could be putting themselves under unnecessary financial pressure, a new set of figures indicates.

In research conducted by the London School of Economics (LSE) for the British Gas/Help the Aged Partnership, pensioners could be losing out on a total of some 50,000 pounds over the course of their lifetime by not claiming all the money they are entitled to receive. According to the company, about half of all the country's older citizens are eligible to claim enough cash to cover their heating costs and be lifted out of 'fuel poverty.' And as a result of getting such help with their finances, people may find that they are in a better position to meet other demands on their spending, such as mortgages, credit cards, and loan costs. Overall, the LSE suggested that a total of 4.5 billion pounds in unclaimed benefits for older people is lying in government coffers.

Pointing to the typical case of unclaimed benefits, it was suggested that a 65-year-old woman who does not make the most of what she is entitled to, is losing out on some 25 pounds per week. Consequently, such a consumer could be receiving more than 30,000 pounds over the remainder of her expected lifetime. In turn, this is a figure that could greatly reduce the constraints on many consumers' finances, whether this is related to making loan repayments or paying off credit cards.

Meanwhile, getting an extra 50 pounds per week would equate to yet more in additional benefits. However, the study also uncovered that about one in three pensioners do not know where to go to seek help with benefits - a statistic that may indicate that many older people may struggle in receiving advice with their personal finances.

Commenting on the LSE findings, Anna Pearson, spokesperson for the British Gas/Help the Aged Partnership, said: "Our recent research revealed that more than one million older people cut back on food to cover their heating costs. With individual pensioners possibly eligible for up to 50,000 pounds, our message to older people is - you've got to claim it to gain it."

As a result, the partnership has called on the government to bring in an automatic benefit payment scheme for older people, as well as putting more money into face-to-face financial advisory programmes.

Similar concerns were echoed earlier this year. According to Helen Wanless, senior press officer at Age Concern, one in three Britons aged 60 and above are unaware that they are able to receive pension credits. She added that many people found the claiming process to be too complicated, although getting such money could well provide help with money management for many people. According to the Commons public accounts committee, some 1.6 million of the over-60s could be missing out on about 2.1 billion pounds, which is waiting to be claimed. Consequently, Ms Wanless urged that the government must do more in boosting consumers' awareness of such a product. However, even after receiving credits should consumers discover that they still have problems in managing their finances, applying for a cheap loan could be one way in which to provide help with spending.

The same holds true in the U.S. There are many older people who are struggling financially, and they are constantly being worried by the media announcements that Social Security is running out of money, that there will be no Social Security check next month (this was announced by Obama in July), that their Medicare benefits are going to be cut by Congress, and all kinds of other negative media stories (and, after all, aren’t most media stories negative, to get people to continue to watch all those ENDLESS commercials?)! Pity, as people should be able to retire in peace, without all this nonsense being thrown at them, in the name of the Almighty Dollar!

Working for Income from your Home Computer is now exploding all over the World, and it is creating a personal solution to households in their private income recovery.


Get Your Ex Boyfriend Back - Click Here!

Blogging To The Bank - Click Here!

Natural Mole Removal Guide -
Get rid of them as safely, naturally and cheaply as possible. Click Here!


Burn The Fat - Fat Loss Diet "Bible." Top Seller since 2002. Others come and go, Burn The Fat is a perennial best-seller since 2002. - Click Here!


"Numerologist" - Click Here!


"How to Buy Foreclosures with Private Money." Complete learning system for cashing in on the foreclosure boom. This system teaches people the right way to quickly raise money from private investors and flip foreclosures. Digital download and training video. Click Here!


"How to Get Him To Propose" - Click Here!


"Secrets Of A Millionaire Magician" - Click Here!


“How To Win The X Factor” - Click Here!
 
“How to Make a Living or Simply Entertain Your Kids by Clowning!” - Click Here!
 
“How to Save on Food with High Food Prices” -  Click Here!
 
"Don't Get Burned By Driver Update Scams
or Fake Anti-Virus Scams" - Click Here

"Free E-Book About Free E-Books" - Click Here

Here's a good website to check out: "How To Adjust & Repair Your Sewing Machine" - Click Here - We may turn this "Book on paper" into an E-Book in the future, if enough people want it. If you are one of those who would buy it, please let us know.

Here's another good website to check out:
"Studio Quality Portraits For Less" - Click Here
 
Here's another good website to check out: 
"Green Cleaning Products" - Click Here 


Here's another good website to check out:
"Bibles New and Used" -  Click Here

Here's another good website to check out: 

"Affiliated Website Designers" - Click Here 

Here's a good Forum to check out:
"Dachshund Forum" Click Here

Here's a good reference on Forums, where you can find lots of information on just about any problem: Click Here

Copyright 2011 by Preston Smith,
Silver Dollar Press,
a Division of Walker Enterprises.

All Rights Reserved.

INTRODUCTION TO SOCIAL SECURITY

INTRODUCTION TO SOCIAL SECURITY

In order to address the routine concerns of many regarding the payment of bills, post-retirement, or disability, a federal benefits program was designed in the United States in 1935, known as the Social Securities Act. The program known as the Social Security program, provides disability, retirement, unemployment, and survivor benefits, as well as Medicare. The benefits offered, aim at providing financial support to the citizens of the U.S. who fall under the categories specified within the parameters of the program.

The Social Security Act of 1935, introduced the Social Security system in the U. S. The system caters to the financial needs of the retired citizens who have contributed to the Social Security trust fund for at least 10 years. It also provides benefits to the survivors, in the event of the employee's death. The other benefits offered, cover disability and unemployment.

It is essential for the person to make the regular required contribution to the Social Security Trust Funds through the payroll taxes, to be eligible. By virtue of the provisions of the Federal Insurance Contributions Act or FICA, every worker's income is subject to a tax payment of 12.4% on the first $94,200 earned during the year (this may have been raised, or it may be raised in the future). Half of this amount or 6.2% is paid by the employer, while the other 6.2% is deducted from the salary of the employee. The amount is given to the government. Self-employed people are responsible for paying the full 12.4%. This amount is used to fund the Social Security system.

The system has been designed to benefit those who make the necessary contributions for a period of ten years. There is a credit system incorporated in the scheme, and you can earn a maximum of four credits per year. This means that regardless of the higher limit of your actual earnings, and consequently the quantity of your contribution to the fund, your earnings would entitle you to receive four credits.

The amount of the monthly Social Security check that you would receive after retirement, would be calculated on the basis of your 35 highest income-generating years. You need to apply, to start receiving your Social Security benefits. The best time to do this would be a few months before your actual retirement date. It is not sent automatically, as some people believe!

The Social Security program attempts to pay the retired citizens a pre-determined sum of money, to cover their basic needs. It works as a kind of insurance for the retired people, helping them to cope with financial difficulties and post-retirement.

It is a form of insurance that covers the surviving spouse and children, in case of the employee's death. If the spouse is between 62 to 65 years, 70 to 99 percent of the benefits are payable (this may have changed, too, or it may change in the future). Dependent parents and unmarried children under 18 years are entitled to receive the benefits, too.

Disability that prevents employment opportunity, is also considered for benefits under the Social Security system. Physical and mental disabilities are also covered, and the payment starts five months after proving the disability to the authorities. Because of past abuses to the system, Disability Benefits are harder to receive and get approved now, unfortunately. Many people have to hire an experienced attorney to get them through this paperwork and bureaucratic process.

Under the Social Security system, unemployment benefits are available to those whose unemployment is due to circumstances beyond their control. The program is designed to provide financial relief to the citizens of the U. S. at crucial times.

To get the latest details, you might want to search the Internet or contact the Social Security System directly. Congress is continually looking at this important program; and unfortunately, it has become a “political football,” with both political parties making media statements that Social Security is broke and “needs fixing.” This has been going on for most of the time that Social Security has been established, and it will probably continue to go on in the future, when your children, grandchildren, and great-grandchildren are grown! To get the REAL and TRUE facts, disregard most of these media statements by politicians (even the President, who recently declared that there would BE NO SOCIAL SECURITY CHECKS IN AUGUST), and get the facts directly from the Social Security System itself! This is a very unfortunate situation, and it has continued to worry many Senior Citizens, some of whom have had strokes and heart attacks because of this worry about their lack of control over their own finances! Congress and the President should be more responsible than this!

Working for Income from your Home Computer is now exploding all over the World, and it is creating a personal solution to households in their private income recovery.


Blogging To The Bank - Click Here!

Natural Mole Removal Guide -
Get rid of them as safely, naturally and cheaply as possible. Click Here!


Burn The Fat - Fat Loss Diet "Bible." Top Seller since 2002. Others come and go, Burn The Fat is a perennial best-seller since 2002. - Click Here!


"Numerologist" - Click Here!


"How to Buy Foreclosures with Private Money." Complete learning system for cashing in on the foreclosure boom. This system teaches people the right way to quickly raise money from private investors and flip foreclosures. Digital download and training video. Click Here!


"How to Get Him To Propose" - Click Here!


"Secrets Of A Millionaire Magician" - Click Here!


“How To Win The X Factor” - Click Here!
 
“How to Make a Living or Simply Entertain Your Kids by Clowning!” - Click Here!
 

“How to Save on Food with High Food Prices” - Click Here!
 
 

"Don't Get Burned By Driver Update Scams or Fake Anti-Virus Scams" - Click Here

"Free E-Book About Free E-Books" - Click Here

Here's a good website to check out: "How To Adjust & Repair Your Sewing Machine" - Click Here - We may turn this "Book on paper" into an E-Book in the future, if enough people want it. If you are one of those who would buy it, please let us know.

Here's another good website to check out:
"Studio Quality Portraits For Less" - Click Here
 
Here's another good website to check out: 
"Green Cleaning Products" - Click Here 


Here's another good website to check out:
"Bibles New and Used" -  Click Here

Here's another good website to check out: 
"Affiliated Website Designers" - Click Here 

Here's a good Forum to check out:
"Dachshund Forum" - Click Here

Here's a good reference on Forums, where you can find lots of information on just about any problem: Click Here

Copyright 2011 by Preston Smith,
Silver Dollar Press,
a Division of Walker Enterprises.

All Rights Reserved.