Premium Essay

Raising Individual Financial Awareness

In:

Submitted By kkier
Words 4135
Pages 17
A Report for Mr. and Mrs. Murray and Family

Table of Contents

Question A 3 1) Causes of Pension Crisis 3 2) “Money Purchase” Pension Scheme 4 3) Thinking about Pensions 4
Question B 6 Buy-to-let Property Investment 6
Question C 8
Question D 10 Importance of Writing a Will 10
Bibliography 13
Appendix I 14

Question A

Causes of Pension Crisis

Pension crisis refers to the difficulty predicted in settlement of pensions due to the difference that exists between the resources held by the pension and the obligations that are supposed to be paid by the pension. This means that the resources that have been set aside to pay for the pension obligations are not enough. The pension crisis is mainly caused by the factors explained below;
Firstly, rapid growth of the ageing population as a result of couples postponing child bearing coupled with the general decline in the rate of birth per couple. Consequently, the working-age population decreases hence the taxes collected to cater for the pension payments. As a result the government system of pay-as-you-go becomes unsustainable. Secondly, the crisis is caused by longer lives of people sue to medical improvements thus consuming pensions for a longer time. Thirdly, a shift in prioritization of targets that are short-term like travel and purchasing of houses over planning for retirement among the young working population is also a cause for the pension crisis.
Fourthly, the mounting pressure on governments for tax reduction and the competing demands for government expenditures reduce the available funds to sustain the pensions. Lastly, over optimistic returns forecasts by the managers of pensions and the declining performance of stock markets reduce the returns of the pension’s investments. This is because the pension funds are invested in different assets like bonds and stocks and

Similar Documents

Premium Essay

Charter

...DRAFT CHARTER ____________ Mission The ________is comprised of the Division ___________, the _____________, and the Division _________ . The _____ Mission is to improve the ______ of individuals with, or at risk of developing, ___________, through research, education and patient care. ______ Organization & Structure Executive Board The Executive Committee (EC) is responsible for the governance and structure of the _____ and all Boards and Committees established within its organization. The Executive Committee will be comprised of the Chief of the _____, the Director of the _____, the Chief of _____, and the elected Advisory Board Chairperson. . The Executive Committee will also be responsible for identification, qualification and promotion of funding priorities to support the _____ goals. Advisory Board The _____ Advisory Board (_____AB) will consist of 10 – 15 members. Term of membership will be for three years, renewable for up to two terms. Chairperson will be nominated and elected by the Advisory Board. The Advisory Board will also appoint members to chair Committees. Nominations for Advisory Board and Committee membership will be approved unanimously by the _____ Executive Board and by at least a two-thirds vote of the Advisory Board. Management Board The Management Board (MB) will consist of key administrative personnel from each group and the Development Office liaison(s). The Management Board is responsible for directing,...

Words: 1067 - Pages: 5

Premium Essay

Kiva' Business Model

...In analyzing the efforts to alleviate global poverty in Sudan, Kiva stands out as a unique organization that is an enabler of value creation to microfinance operations. By partnering MFIs with individual investors, Kiva will continue to make its impact in Sudan by bypassing an unreliable government, raising low-cost capital, and raising awareness. Kiva connects individual investors with entrepreneurs in developing countries Kiva has achieved a strong position in a previously neglected area of the social investing value chain. By allowing individual investors to connect directly with entrepreneurs in developing countries, Kiva provides a new level of transparency and involvement in the effort to eliminate global poverty. Kiva has partnered with 89 MFIs representing 42 countries to reach out to poor entrepreneurs to help them create a sustainable living for themselves. Although lenders receive no actual financial return while assuming all the risk of default, Kiva remains successful because of the intense emotional return that is deeply embedded in every transaction. Kiva creates value by leveraging their partners’ strengths Kiva has developed its marketing strategy by partnering with some of the most prominent online advertising and networking websites, including Google, Yahoo!, YouTube, Facebook, and MySpace. Through these social networks, as well as through blogs and online merchandising, Kiva has been able to spread its message and brand image to countries all over the...

Words: 561 - Pages: 3

Premium Essay

Analysis: A Day In Their Shoes

...Imagine not feeling as though you have control of your own mind, experiencing uncomfortable body symptoms that can range from feeling as though you are having a heart attack to feeling paralyzed, and having every aspect of your life affected, but not knowing why. This is what an individual experiencing a mental illness can face…Imagine living day in and day out in their shoes. A Day in Their Shoes is a new fund-raising and awareness gala for CMHA of NB that will bring to light families that have lived-experience with mental illness, situational mental health conditions, PTSD, anxiety, and depression. When a person is experiencing a mental illness, they are not the only ones affected. Even though mental illness is very much an individual...

Words: 342 - Pages: 2

Premium Essay

Forner Case Analysis

...Fostering CSR in Primary Education: The Synergeia Experience Summary of Important Facts Synergeia is a nonprofit organization that envisions to improve the quality of primary education in the Philippines. It started 2001, when it was initially backed by Ford Foundation which was headquartered in the United States. It expanded to over 200 towns by partnering with international and local donors, local governments, non-government organizations (NGOs), parents and teachers. The 2004-2005 National Achievement Test (NAT) showed that 74 percent or around 1.1 million students lacked mastery of the English language. 25 countries were ranked in 2003, and the Philippines stood almost at the bottom. That is quite bothering since we are known to use English as our second language. Our Asian neighbors namely Singapore, Hong Kong, Japan and Chinese Taipei are in the Top 4, even outperforming the United States, Australia and Canada. It is believed that the weak foundation of the students in the primary school was the main reason for this underperformance. It is also believed that the teaching skills of the teachers have to be improved in order to reverse the decline in competitiveness of the country’s primary education. Another vital reason is the lack of government support. The country’s annual budget for education has continued to decline. While the country is doing this, other nations have continued to increase their allocation for education but as much as 10 times. This perhaps is a...

Words: 3386 - Pages: 14

Premium Essay

Women United

...Women United to Stop Domestic Violence Cynthia A. Jones Sharmin S. Lawrence Stacy L. Williams Dr. Lynn W. Clemons, Instructor Mercer University February 25, 2014 Executive Summary Domestic violence has become an epidemic in the United States. One in every four women experience domestic violence during their lifetime, 2.3million each year (U.S. Department of Health and Human Services). Domestic violence usually occurs by a husband, boyfriend, live in partner or family member. It also is the leading cause of injury to women between the ages of 15 to 44 ( ). Since the majority of the domestic violence incidents are not documented it is difficult to suggest how much violence occurs. The Family Violence Prevention and Services Act (FVPSA) provides the primary federal funding dedicated to the support of sheltering and provided services for victims of domestic violence ( ). Women United to Stop Domestic Violence (WUSDV) is a nonprofit organization that was created for women in middle Georgia to give them “hope” and security. We provide therapeutic holistic type therapy and manage cases in areas other than domestic violence. Violence against women is a serious and pervasive problem that affects communities across America. It has no place in society, and it will not be tolerated. Mission and Purpose The mission of the Women United to Stop Domestic Violence (WUSDV) a nonprofit organization is “To connect and provide abused and battered women with...

Words: 1833 - Pages: 8

Premium Essay

Legal Age for Alcohol Consumption

...it is illegal for individuals below 18 years of age to consume alcohol. Other countries have an age limit of 15 years (Miller, 2010). All governments have reasons for setting this age requirements for alcohol consumption. For example, some argue that raising the legal age limit may not have an impact on society if people do not have the will to stop irresponsible drinking. Others argue that raising the legal age limit would allow individuals to drink when they are mature and responsible (Kolander, 2011). This would reduce chances of irresponsible drinking. This essay aims at discussing the legal age for alcohol consumption and whether it should be raised. According to reports from several police departments, most youth consume alcohol when they have not met the age limit. This implies that raising the age limit is effective albeit dutiful parenting (Miller, 2010). The need to raise the age limit, therefore, becomes crucial in curbing the negative effects caused by alcohol consumption. However, altering the age limit does not provide a conclusive solution to challenges of alcohol consumption. Governments can also create awareness in schools through program initiatives that educate children on the negative impacts of alcohol. Religious and social groups can collaborate with the governments on this aspect so as to make it effective. Secondly, raising the age limit for consumption of alcohol will reduce the harm of alcohol on the health of consumers. Individuals suffer from chronic...

Words: 664 - Pages: 3

Premium Essay

Abstract

...children, youths, and adults has raised an eyebrow. People's response towards diabetes mellitus has built a good number of concern in us and perhaps worldwide, owing to the fact that some of the diabetes mellitus patients lack access to proper medication. Also according to Bogner et al. (2012), depression is usually common in diabetes which has negatively affected the provision of medication raising morbidity and mortality rate. Furthermore, as per Vietri et al. (2016), strict adherence to antihyperglycemic is thought to be sub-optimal, he added that drug abuse where some of the patients miss drugs are on the rise. Financial problems, lack of awareness and age which tend to deter mobility were an issue. The suggested some of the intervention mechanism that should be considered by both the individual and the government. For example under the individual take, they should avoid some of the pre-exposing factors such a lot of sugar intake and adhere to the prescription given by the physician. The government should as well come up with proper public sensitization mechanism to enhance awareness of its citizens. Free medication or reduce cost in poverty stricken areas also will do the magic in improving oral healthcare in diabetes...

Words: 269 - Pages: 2

Premium Essay

Unit 5 P1 Health Promotion Research

...promotion and the purpose and aims of three different health-promotion activities. Unit 5 (P2): Describe how different types of health promotion are used to benefit the health and wellbeing of individuals and the nation. What is health promotion? Health promotion is the process of helping or showing to people on how to improve their quality of life. It will help to choose appropriate choices in terms of better health. It enables people to increase control over their health and effects thereby improving their health. It cannot be forced to the people to follow certain health routine on contrary it will get choices and information for people to choice right healthy lifestyle. What are the aims of health promotion?...

Words: 3804 - Pages: 16

Free Essay

Analysis of Personal and Organizational Ethics and Values Between for-Profit and Not-for-Profit Organizations

...providing financial assistance to various social classes, both types of profit organizations must continue to uphold and maintain their values and standards at the highest level possible. Both profit organizations also have a responsibility to its customer base to live up to their actions simply by recognizing their purpose, owning up to their faults and conducting business in a professional and ethical manner. Lets take a look at the two types of profit organizations, the Navy and Marine Corps Relief Society and the Pepsi-Cola Company Inc. The Navy and Marine Corps Relief society is a non-profit organization headquartered in Arlington, Virginia. The Navy and Marine Corps Relief Society has approximately eighty-five branch offices located throughout the United States and eleven countries worldwide with a staff of 169 personnel, over 3,700 volunteers and over 50 nurses combined working diligently to provide assistance at moments notice. The Navy and Marine Corps Relief Society provides financial assistance and education to service members of the United States Navy, the Marine Corps, and their family members to also include widows of fallen service members. These funds are received through charitable donations and fundraisers that are used primarily to finance the programs, services and staff members who work to keep the organization afloat for the purpose of our service members who seek this form of assistance. The history of the organization has been a financial...

Words: 3504 - Pages: 15

Free Essay

Child Rights

...The different support rose its purpose from the mission of cry and if I were to run through some of the key faces that withdraw from are they are about enabling people to taking responsibilities its about confronting the situations it’s about the realizing ones own potential and the child’s and when we put these 3 things together in the context of under developed children in India, development support strategy tries to cut together and talks of enabling billion of a peoples movement and what do we mean when they say enabling the peoples movements for child rights in India, the people are children the people are accusing the between them are the communities the people are the situations, the mechanism institutions working around them which are working along with the when were talk about enrollment going back to the mission we talk about enabling them to take responsibilities core of what development support does is about helping people understand what is and why is the situation of the children what it is. why are children today not experiencing their rights not enjoying their rights why is that there is large scale manufacturing for instance in the state of Maharashtra which otherwise is very economically developed or why is it that in rural areas the access to health services is far far lesser than it is in urban areas in Indian and such like the dismal statistics of children situation speaks for itself and what development support does is look at the situations from...

Words: 7425 - Pages: 30

Premium Essay

Approaches to Health Education

...Approaches to health education Health promotion is the process and method of raising awareness on health related issues by making the public more aware on a particular subject or showing negative consequences which help change or alter a person’s behaviour or thinking. This is done so that these specific campaign or advertisements almost have a control over anindividual’s future and present choices based around their health and wellbeing. Though these promotions are specifically designed to target and be personalised to each individual but aims to cover a wide target audience at the same time. This can be conveyed through advertisements such as: television advertisements, radio adverts, leaflets, posters, website advertisements, social media and many more, though these are the most significant uses of advertisement used to target a large scale of the public. There have been several reputable landmarks that have been successful in raising awareness of health promotion to the world, ensuring that they have provided a substantial amount of knowledge and attentiveness so that each target audience acknowledges if not corresponds to the information provided by these landmarks. One of these landmarks being the Ottawa charter which enables people to take control and responsibility over their own health to empower an improvement on each individuals life’s to make a positive different to their wellbeing. Through reaching this level of complete wellbeing, will develop people to achieve...

Words: 1055 - Pages: 5

Free Essay

Overdraft Analysis

...Ask an American citizen about the financial status of the U.S. government. He or she would most likely have an awareness of the current debt crisis that afflicts our nation’s government, once thought to be impervious to economic decline. Fewer, however, would be aware of the extent to which the U.S. government bears financial burdens and the ways that the debt crisis impacts us as individuals. Overdraft, a documentary directed by Scott Galloway and sponsored by the Travelers Institute, seeks to explain how government spending shapes our wellbeing and provides potential solutions for reducing the national debt. The propositions offered in this movie prompt Americans to consider the ways that they can enact change to prevent the debt crisis from worsening. According to Overdraft, our current national debt amounts to over $14 trillion, and on our current fiscal path, this total will steadily increase. Several factors are responsible for producing this debt, including unpaid tax cuts, two expensive wars, and the recent economic downturn, which resulted in “the lowest revenues… and highest expenditures as a share of our national income in the past sixty years” (Overdraft). Our government’s lack of foresight in managing the national budget is not solely responsible for the current state of affairs, however. In fact, the recession of 2007-2009 was primarily a product of the collapse of the housing economy, the participants of which include the majority of middle class Americans...

Words: 996 - Pages: 4

Free Essay

Jft Task 2

...Utah Symphony Analysis Financial Strengths: The Utah Symphony received approximately 5% of its incoming from their endowment fund annually. The organization raised $3,829 in revenue from rental fees, sets, props, costumes, box office, etc. However, the symphony believes that the fundraising contributions are sufficient enough currently to allow ticket prices to remain the same as the prior year is successful. The up side is that there was a $116,308 in surplus at the end of the year. Utah Symphony Financial weakness: The Utah Symphony’s goal is to become stable financially stable through the raising of sufficient annual profitable. The Symphony relies too heavily on government grants. The performance revenue is only 18.5% more than government grants. Moreover, contributions are 14% higher than performance revenue, which means that the symphony relies too heavily on contributions and not enough on tickets sales. The program expenses are $10,447,384 and are significantly high, which include salaries, benefits, and taxes. It is 60% of the total expenses. The expenses are too high, without enough revenue to keep it going. Without the aid of grants and contributions, the symphony would not be sustained. The symphony is not sustainable without contributions and government grants. Furthermore, there is $1,164,026 in bad debt expense from pledged dollars that were not paid. Unfortunately, this is potential income cannot be used to pay for the organizations expenses. The...

Words: 5044 - Pages: 21

Premium Essay

Autism

...impacted the society, families and themselves. Completing the Puzzle of Autism Spectrum Disorder Can you imagine trying to understand what your parents or peers are saying but you don’t really know what the words mean? Sometimes this can make a child very upset and frustrated just because they can’t come up with the right words to express his or her feelings or thoughts. These kids with special needs try to live their lives by learning to handle stuff that are challenging and annoying for them. People with autism can make a significant contribution to society, as well as to their families. However, having autism is generally difficult for the person themselves and their family, it also involves great financial sacrifice. What is Autism Spectrum Disorder? Autism Spectrum Disorder (ASD) most commonly known as “Autism” is a neurological disorder that has an effect on normal brain function, affecting a person’s communication skill, social interaction, behavior and interest. ASDs are spectrum disorders because it affects each person in a different way; it can range from very mild to severe. Autism affects information processing in the brain by altering how nerve cells and their synapses connect and organize, even though is not well understood how this occurs....

Words: 1743 - Pages: 7

Free Essay

Eat2Eat

...tasked with arranging business diner and there are only 43 percent individual users. 2. Raising additional capital: EAT2EAT only have one investment from its owner Aggarwal. Although EAT2EAT had established a strong presence, additional investment is expected for market exploring, public relations and technology upgrade. 3. Market lag: The service is popular in Tokyo and Seoul but did not have a great acceptance in Hong Kong and Singapore. Analysis: Eat2Eat’s users can be divided into two categories: Personal Use (43%) and Corporate Use (57%). The average revenue per user is calculated to be $40.31 in 2005. However, the average cost of acquiring each user was calculated at $45.03. This implies inefficiencies within the current business model. EAT2EAT need to raise 2 million dollars in additional capital. Fifty percent of capital is for hiring more customer representatives, fourty percent of capital would be spent on public relations and personal market expanding. The rest would be used as technology upgrade. Recommendations: 1. Eat2Eat should more focus on individual users who have large potentials of generating more revenues. In order to reach these customers, EAT2EAT can provide large discount to its customer by using online group dine reservation. 2. In order to raise more funds for future expanding, Aggarwal should join more venture capital conferences to seek financial help. 3. EAT2EAT should improve...

Words: 334 - Pages: 2