AARP opposes the PROMISE Act, a bipartisan Senate proposal to fast-track Social Security reforms, arguing it bypasses regular legislative order and lacks sufficient deliberation. This comes as Social Security faces a 2032 trust fund depletion, potentially leading to benefit cuts.
China's Ministry of Human Resources and Social Security has released a blueprint to address AI's impact on the job market over the next five years. The strategy focuses on income growth, wage reform, collective bargaining in the private sector, and managing high earnings in state enterprises, while also strengthening minimum wage protections.
New research from George Mason University's Mercatus Center warns that delaying Social Security reform could negatively impact the bond market and the broader U.S. economy. With the Old-Age and Survivors Insurance trust fund projected to deplete in Q4 2032, inaction may lead to increased borrowing, higher interest rates, and a potential fiscal crisis.
Spain's registered unemployment dropped to 2,291,982 in June, the lowest since January 2008, driven by the service sector and a significant fall in female unemployment. Social Security registrations hit a record 22.47 million, primarily boosted by wholesale, retail, and hospitality.
Spanish unemployment dropped by 28,739 in June, reaching 2,291,982, the lowest figure since January 2008. Services led the decline, driven by tourism, while youth and female unemployment also hit record lows. Social security registrations also reached an all-time high.
India's new EPF Scheme, 2026, under the Code on Social Security, 2020, replaces the 1952 version, offering continuity and enhanced flexibility for salaried employees. Key changes include greater flexibility in voluntary contributions, continued support for life events through partial withdrawals, and stronger protections for contract workers.
The Employees' Provident Funds Scheme, 2026, has replaced the 1952 version under India's Social Security Code, 2020. While contribution rates and UAN remain unchanged, the new framework emphasizes digital processes and introduces stricter governance for exempted trusts, with the government gaining power to temporarily reduce contributions during emergencies.
The Employees' Provident Funds Scheme, 2026, has replaced the 1952 version under India's Social Security Code, 2020. While contribution rates and UAN remain unchanged, the new framework emphasizes digital processes and introduces stricter governance for exempted trusts, with the government gaining power to temporarily reduce contributions during emergencies.
Social Security's OASI trust fund may be depleted by Q4 2032, with 78% of benefits payable, according to new projections. This has intensified calls to tax the wealthy, with bipartisan efforts emerging to lift the payroll tax cap, though significant challenges remain.
Sen. Bill Cassidy, in his final term, aims to reform Social Security before leaving office in January 2027. Facing a funding shortfall projected for 2032, Cassidy proposes investing $1.5 trillion in a separate fund, modeled after the Railroad Retirement system, to address the program's solvency.
A new social security agreement between India and the UK, effective July 15, will exempt temporarily transferred Indian professionals from UK social security contributions for up to five years. Additionally, a deal on steel exports secures market access for 85% of India's shipments.
India and the UK will implement their Comprehensive Economic and Trade Agreement (CETA) from July 15, aiming to expand market access, reduce tariffs, and deepen cooperation. The pact is expected to open a market worth over $500 billion for Indian exporters and includes provisions for the automotive and spirits sectors.
New projections from the Penn Wharton Budget Model (PWBM) suggest Social Security's trust funds may have more time before depletion than previously estimated. The OASI fund could be depleted in February 2033, and combined funds in February 2035, slightly later than the Social Security trustees' projections.
Sen. Elizabeth Warren is pressing the Trump administration for clarity on its position regarding raising the Social Security retirement age, citing projections that the program's trust fund could be depleted by late 2032.
US consumer prices surged in May, driving the annual inflation rate to a three-year peak. This has led to revised forecasts for the 2027 Social Security cost-of-living adjustment (COLA), with one analyst predicting a 4.7% increase, potentially higher due to rising gasoline prices. Many seniors worry about inflation outpacing their income and find current Social Security payments insufficient.
Social Security Administration Commissioner Frank Bisignano announced record low phone wait times, with average speed of answer under five minutes in May, an 89% reduction from fiscal year 2024. The agency aims to improve customer service despite staff losses.
The Social Security trust fund is projected to be depleted by 2032, leading to a potential 22% cut in benefits for over 60 million retirees unless Congress acts. A new report cites demographic shifts and tax cuts as key challenges.
Social Security Administration Commissioner Frank Bisignano will present evidence of improved customer service, including reduced phone wait times and website fixes, to Congress. Critics, however, argue these gains are temporary and mask underlying staffing issues.
Columbia University's data breach last year exposed 1.8 million Social Security numbers, including those of individuals with no affiliation to the school. The university struggled to explain how it obtained and retained this data for decades, raising concerns about data retention practices and potential class-action lawsuits.
Social Security's retirement trust fund is projected to be depleted by 2032, potentially leading to a 24% benefit cut for 63 million beneficiaries. A report highlights that monthly reductions could average $500 nationally, with some states facing even steeper cuts.
Spain's Social Security registered a record 289,000 foreign workers in the past year, with a 9.4% annual increase in May. This surge coincides with a government regularization program, though officials and experts caution it's too early to definitively link the two phenomena.
Spain's labor market saw significant improvement in May, with unemployment falling to its lowest May level since 2007 and Social Security membership reaching record highs. Job growth was broad-based across sectors, notably in hospitality and administrative services.
Japan's government council met to discuss a new investment framework for crisis response and growth sectors, with proposals for flexible, multi-year budget allocations. Social security reforms and setting targets for reducing the burden on working generations were also discussed.
The British premiership is facing unprecedented instability, with frequent PM changes hindering long-term strategy and economic progress. Unlike past periods of churn, current political fragmentation and societal divides make governing exceptionally difficult.
