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Warnings from economists Pension system on the brink of collapse?

Status: 21.06.2021 10:35 a.m.

Too few contributors and high household burdens – experts repeatedly point out the problems of statutory pension insurance. Does that inevitably lead to retirement at 68 or even 70? By Andreas Braun, tagesschau.de The criticism of the German pension insurance system, which has been publicly discussed for weeks, is sharp. The entire structure of the pay-as-you-go pension has been called into question by economists in recent weeks. Many of the criticisms have been known for a long time, but above all caused a stir Paper of the scientific advisory board at the Federal Ministry of Economics , an advisory body within the federal government. Economics Minister Peter Altmaier himself presented the committee’s proposals as “not binding” on his ministry The advisory board is “independent”.

Pension and contribution guarantees aggravate the situation

With their description of the state of the German pension insurance system, the authors of the study are anything but alone among experts. You see “suddenly increasing financing problems” approaching the pension funds. These problems are mainly caused by the guarantee of the pension level introduced in 2018 at 48 percent of the average wage and the limitation of pension contributions to a maximum of 20 percent.

Together with the introduction of the “pension at 63”, this led to the deficit within the pension insurance system being further expanded. More than a quarter of the federal budget had to be diverted to the pension fund in 2019 to fill this gap. In 2040, almost half of the federal funds are threatened to be used for this.

Increasing life expectancy

The conclusion of the economists of the advisory board with its chairman, the Munich economics professor Klaus M. Schmidt, reads: The coupling of the retirement age to life expectancy is “inevitable”. So if Germans tend to live longer and receive longer pensions, the start of retirement will have to be pushed back accordingly. This would correspond to a “pension at 68” in around 20 years.

In addition, the experts are calling for pension increases no longer to be carried out consistently in the future. While existing pensions should only increase with the development of purchasing power, a guarantee of 48 percent, for example, can still be guaranteed for “access pensions”, ie employees who are going into retirement.

Criticism of “unsocial” proposals

While politicians from many parties immediately criticized the committee’s proposals as “anti-social” or unrealistic, the authors also received support from academia from other quarters. The researchers from the employer-related Institute of the German Economy (IW) also see a further extension of the working life as a sensible way to stabilize the German pension system.

IW study director Jochen Pimpertz sees this as an opportunity “to slow down the rise in premiums and at the same time to stabilize the security level”. He recommends raising the retirement age from 2031 by two months for each year of birth. In 2052, the standard retirement age would then be 70 years. The Freiburg economist Bernd Raffelhüschen also sees a dramatic need for reform in the pension system in Germany. The federal government can only choose between “plague and cholera,” he said in a recent interview. Either the contribution rates for the pension fund or the federal subsidy would have to be drastically increased. In the past few years, the federal government gave the “majority of the elderly” too generous gifts, he said.

Swedish stock pension model

Martin Werding, professor at the Ruhr University in Bochum, is calling for a radical move away from today’s pure pay-as-you-go financing. Werding has calculated that a “share pension”, in which employees invest two percent of their gross income in an equity fund, could increase pension payments by up to 30 percent for average earners who have been insured for many years. The consumer advice centers also consider such a provision component, which is based, for example, on the Swedish pension model, to be sensible. Klaus Müller, member of the board of directors of the Federal Association of Consumer Organizations, sees the share investment as an opportunity to get “more money in old age” for insured persons.

But even a fundamental reform of the pension system is unlikely to close the gap between earned income and retirement income for many contributors. The Riester pension, which was introduced around 20 years ago , however, many experts are convinced that it is hardly suitable for this. There are increasing votes for Riester subsidies to expire under a new federal government in autumn. A prominent critic of the Riester model is, for example, the economist and former “economy” Bert Rürup. He advocates pension accounts that could be managed by a foundation and should be accessible to all citizens. Here, too, the idea is that additional contributions are invested primarily in the capital market and converted into payment plans in old age that supplement the statutory pension

Instead, more cities with development prospects should be explored in order to solve the current unbalanced development in Hunan Province.

And what are the most promising cities in Hunan Province?

Hengyang. People may question the development strength of Hengyang. After all, this is a low-profile city, but low does not mean that people are not developing well.

As far as the GDP of Hengyang is concerned, there has been a very large increase, and the value will not deceive people.

What kind of industry supports Hengyang’s rapid development? The first is the very convenient traffic conditions here.

Take the high-speed railway station as an example. There are as many as four in Hengyang, and even the airport has two. This is estimated to be absent in many large cities. With such convenient transportation, Hengyang is difficult to develop.

Not only that, Hengyang is the central city in southern Hunan, with the number of permanent residents ranking second in the province, and it is a very livable city.

Hengyang is a beautiful city with good city scenery and talented people. Many people come here to appreciate the scenery and feel the cultural atmosphere left by history.

In short, the development of Hengyang is a comprehensive result of favorable conditions and favorable conditions.

Yueyang. Compared with cities such as Changsha and Hengyang, Yueyang is relatively small in terms of urban scale.

However, the economic development prospects displayed here are not inferior in the slightest. Although it is only a provincial-level city, due to its excellent geographical location, its economic development is regarded as the second largest economy in the province. body.

How excellent is Yueyang’s geographic location? It is next to Dongting Lake and is the confluence of the Yangtze River, Sanxiang and the Four Waters. Such a superior geographical location is naturally indispensable for outstanding tourism.

The rich tourist resources here make many tourists come here every year for sightseeing.

The superior geographical location is also reflected in its excellent traffic conditions. As an international trade port city, Yueyang’s traffic is open along the river and runs through north, south, east and west.

Changde. This is a famous historical and cultural city, and the transportation is also well-developed. It has not only a railway hub in northwestern Hunan, but also a national highway transportation hub. Located on the west side of Dongting Lake, it is a city with unlimited scenery.

In addition, it is also an important part of the Chang-Zhu-Tan urban agglomeration. In terms of economic development in recent years, the overall strength has been greatly improved. The GDP economic output ranks third in the province, and it is very important. Stability, you can see that the strength is good.

These three cities with great development prospects in Hunan all have many advantages such as good location and good environment. I believe that if these aspects work together in the future, the development will inevitably advance in great strides. Of course, the current Hunan is still centered on Changsha, but if you want to become a strong province in the future, you still have to rely on the development of multiple cities.

Expelled from the party after more than two years of retirement

According to Liaoning Provincial Commission for Discipline InspectionAccording to the report, after investigation, Qi Yumin lost his ideals and beliefs. Ignore party discipline and state laws and oppose organizational censorshipViolating the spirit of the eight central regulations, accepting gift money that may affect the fair execution of official duties, arranging and using official vehicles in violation of regulations; violating the rules of procedure and violating regulations to determine major issues, concealing personal matters, and failing to truthfully explain the issues when organizing letter inquiries. Use power to seek benefits for others in the selection and appointment of cadres;Borrow money from management and service targets, run business in violation of regulations, get paid for part-time jobs in violation of regulations, and engage in money-and-color transactions; Dereliction of duty and responsibility for the false reporting of profit issues of Brilliance Group; dereliction of control and education of spouses and children; use of the convenience of the position to seek benefits for others and request and illegally accept property;Use the convenience of the position to embezzle public funds to others for profit-making activities; Abuse of power has caused serious losses to state-owned companies and caused heavy losses to national interests.

Qi Yumin seriously violated the party’s political discipline, organizational discipline, integrity discipline, work discipline, and life discipline, constituted a violation of the law and was suspected of crimes of bribery, embezzlement of public funds, and abuse of power by state-owned company personnel. They still do not converge or close their hands after the university, their nature is bad, and the circumstances are serious. They should be dealt with seriously. In accordance with the “Chinese Communist Party Disciplinary Sanctions Regulations”, “The Supervision Law of the People’s Republic of China”, “The Law of the People’s Republic of China on Governmental Sanctions of Public Officials” and other relevant regulations, the Provincial Disciplinary Committee Standing Committee meeting researched and reported to the Provincial Party Committee for approval, and decided to give Qi Yumin expelled from the party; Cancel the treatment they enjoy in accordance with the regulations; collect their income from violations of discipline and law; transfer their suspected crimes to the procuratorial organ for review and prosecution in accordance with the law, and transfer the property involved together.

On December 4 last year, the Central Commission for Discipline Inspection and the State Supervision Commission issued a notice stating that according to the Liaoning Provincial Commission for Discipline Inspection, the former party secretary and chairman of Brilliance Automobile Group Holdings Co., Ltd. (hereinafter referred to as “Brilliance Group”) Qi Yumin was suspected of serious violations of discipline and law. , Is currently undergoing disciplinary review and supervision and investigation.

According to the official resume, Qi Yumin was born in January 1959. After graduating from Shaanxi Institute of Mechanical Engineering in 1982, he joined Dalian Heavy Machinery Factory and served as deputy director and director of the Economic Planning Department. In 1995, he served as the deputy director of Dazhong Group Corporation. Manager, served as general manager of Dazhong Group Corporation in 1998.

In 2000, Qi Yumin served as chairman and general manager of Dalian Heavy Industry Group Co., Ltd., and the following year as chairman and general manager of Dalian Heavy Industry Lifting Group Co., Ltd. In 2004, Qi Yumin served as the deputy mayor of Dalian.

At the end of December 2005, Qi Yumin was transferred to Brilliance Group as the party secretary and chairman of the board. Many years later, Qi Yumin said frankly in an interview with the media, “It was sudden, very tragic, ignorant and helpless to get the transfer order.” It is reported that the Brilliance Group at the time was still in the aftershocks of the Yangrong incident. The middle-level lost dealers fled and suffered serious losses. Qi Yumin, who arrived at that time, was once regarded as the “fire-fighting captain.”

Qi Yumin (Image source: Visual China)

After that, Qi Yumin cashed out on the capital market through Brilliance’s capital operation team, realizing the supplement to Brilliance’s capital. According to the Securities Daily, Qi Yumin clearly stated in an exclusive interview at the company’s 10th anniversary meeting: “Brilliance Auto’s development over the years has mostly relied on its own financing. Therefore, the financing capabilities of the capital market and Brilliance’s capital The multi-channel financing of development by the market is the key support for the development of independent brands.”

Qi Yumin also allowed Brilliance to obtain technical support through cooperation with BMW.

The industry generally believes that in the ten years of cooperation with BMW, Brilliance can not only lie down and make money, but also actually taste the sweetness of “using the market for technology”.However, Brilliance, whose development capability is too weak, has been unable to digest BMW’s technology, and its sales in its independent sector have also been declining, and its market share has been shrinking..

According to the Beijing News, in 2015, Brilliance Zhonghua’s small SUV Zhonghua V3 was officially launched. At that time, Qi Yumin set a goal: China V3 will be a pattern changer in China’s small SUV market;He repeatedly stated, “Before I retire, I must make Brilliance into the Fortune 500.”However, China V3 did not realize Qi Yumin’s sustenance. In 2017 and 2018, the sales of China V3 declined year after year, with annual sales of 36,000 and 12,500, respectively, down 52% and 65.27% year-on-year..

Finally, on October 11, 2018, at the 15th anniversary celebration of BMW Brilliance, Brilliance Group and BMW Group jointly announced that Brilliance Group intends to sell 25% of the shares in BMW Brilliance to BMW Group by 2022, the transaction price is RMB 29 billion yuan,BMW Brilliance will become the first vehicle joint venture company controlled by a foreign party. This has caused Qi Yumin to suffer from public controversy.

Qi Yumin later revealed when he was a guest on CCTV that the prerequisite for BMW’s negotiations at the time was a 75% share ratio, and everything could be discussed, but the share ratio could not be discussed. As a result, Brilliance had to negotiate two agreements with the other party: First, to make the pie of the joint venture bigger, at least to double it, “otherwise it would be meaningless to liberalize the equity ratio.” In addition, the shareholders of both parties have to obtain greater economic benefits,”Three and a half years later, Brilliance has changed from 50 to 25, but the benefits of 25 must be greater than the current 50.”.

On April 1, 2019, when he retired from Brilliance Group, Qi Yumin said with emotion, “The past was cleared, love and hate are at will, I hope Brilliance will always be well”. But now, Qi Yumin and Brilliance are both running counter to the vision.

Brilliance Group went bankrupt and reorganized last year

According to the official website of Brilliance Group, the company has 4 listed companies (Brilliance China Automotive Holdings Co., Ltd., Shanghai Shenhua Holdings Co., Ltd., Jinbei Automobile Co., Ltd., and Xinchen China Power Holdings Co., Ltd.), and more than 160 wholly-owned, holding and shareholding companies the company. There are 47,000 employees,Total assets exceed 190 billion yuan.

Last year, Brilliance had many operating problems. Since July last year,Brilliance Group was caught in a debt turmoil, was exposed to 100 billion yuan in debt, and many equity shares were frozen. In August, Dagong International and Oriental Jincheng successively included Brilliance Group and its multiple bonds on the rating watch list. In September, both Orient Jincheng and Dagong International downgraded Brilliance Group’s main credit rating, among which Dongfang Jincheng downgraded to AA+ and Dagong International directly downgraded it to AA. On October 16, Oriental Jincheng once again downgraded Brilliance Group’s main credit rating to AA-. On October 21, Dagong International downgraded the main credit rating of Brilliance Group to A+.

On November 16 of that year, Brilliance Group disclosed thatThe company has constituted a total debt default amount of 6.5 billion yuan and overdue interest amount of 144 million yuan. Due to the shortage of corporate funds, the renewal credit approval has not been completed, resulting in failure to repay. Then on November 20, the Shenyang Intermediate People’s Court ruled to accept the creditor personality Zhizhi Automobile Technology Co., Ltd.’s application for reorganization of Brilliance Group.Brilliance Group officially entered the bankruptcy reorganization process.

The court’s ruling stated that the assets of Brilliance Group were insufficient to pay off all its debts, and that it had bankruptcy reasons stipulated in the Corporate Bankruptcy Law. But at the same time, the group has the value and possibility of salvation, and the necessity and feasibility of reorganization.

For driving to this position, according to the relevant person in charge of the Liaoning Provincial SASAC,Brilliance Group’s long-term poor operation and management, its own brands have been in a state of loss, and the debt ratio remains high. Since 2018, the Liaoning Provincial Government and relevant departments have been working hard to help Brilliance Group solve its cash flow problems, but its debt problems have been accumulated. This year, affected by the new crown pneumonia epidemic, the operating conditions of Brilliance Group’s own brands have further deteriorated, and long-term accumulated debt problems have erupted. According to the semi-annual report of Brilliance Group this year, the total liabilities at the group level are 52.376 billion yuan, the debt-to-asset ratio exceeds 110%, and the financing capacity is lost. In order to solve the debt problem, the relevant parties established the Brilliance Group Bank Debt Committee to seek debt reconciliation, but failed.

On the day that Brilliance Group officially entered the bankruptcy and reorganization process, the China Securities Regulatory Commission stated,Special inspections have been carried out on Brilliance Automobile Group in accordance with the law, the administrative supervision measures of issuing warning letters have been taken against Brilliance Group, and it has been decided to file an investigation for suspected violations of information disclosure., Conduct simultaneous inspections of intermediaries involved in the Brilliance Group’s bonds, and strictly investigate and deal with violations of laws and regulations.

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Daily Economic News Comprehensive public information, CCTV news, Beijing News, Securities Daily, etc.

Debate about retirement at 68 Altmaier cashes in on plans from his advisors

As of: June 8th, 2021 3:33 p.m.

Work until 68 – this proposal from the Advisory Board of the Ministry of Economic Affairs creates massive headwinds. After the rejection of the coalition partners CSU and SPD, Altmaier now expressed himself: The retirement age is currently not an issue. Federal Minister of Economics Peter Altmaier has rejected an increase in the retirement age to 68 years, as recommended by an advisory committee of his house. The retirement age was set at 67 in the first grand coalition “at the suggestion of esteemed colleague” Franz Müntefering (SPD). “It should stay that way, that’s been my opinion for years,” wrote Altmaier on Twitter.

“Suddenly increasing financing problems”

The Scientific Advisory Board of the Ministry of Economics is independent, wrote Altmaier. His proposals are not binding on either the ministry or the minister. The Scientific Advisory Board of the Ministry of Economic Affairs – an advisory body – had proposed a reform towards the retirement age at 68. Because there was a threat of “sudden increasing financing problems in the statutory pension insurance from 2025”. The retirement age cannot be decoupled from the development of life expectancy in the long term.

CSU and SPD against raising the retirement age

The CSU also rejected ideas about raising the retirement age to 68 years. “We reject a later retirement age,” said CSU regional group leader Alexander Dobrindt. In order to make pensions more secure, an “effective reform of private provision is required,” he said. This must be “more successful and efficient,” said Dobrindt. The SPD had previously rejected an increase in the retirement age. He thinks this is the wrong way, said the federal labor minister responsible for pensions, Hubertus Heil, according to a statement from his ministry. The statutory pension is a central promise of the welfare state. It is about recognition of lifetime achievement and security in old age. “Everyone must be able to rely on that.”

“Unsocial, what is proposed there”

SPD parliamentary group leader Rolf Mützenich said that a new regulation for a possible entry age of 68 does not go with the SPD. “Pensioners and the generation that will retire in the next few years must not be further unsettled.” That will also play a role in the federal election campaign. SPD Chancellor candidate Olaf Scholz said: “I stand for the fact that we are not discussing any further increase in the statutory retirement age.” Scholz spoke of a “horror scenario” which should serve to “implement pension cuts for which there is no reason at this time”. According to Scholz, not only are the calculations wrong in the report. “What is being proposed there is also anti-social,” said the minister.

Advisory board proposes retirement at 68

The representatives of the Union and the SPD reacted to an opinion from the Scientific Advisory Board at the CDU-led Federal Ministry of Economics. The Scientific Advisory Board of the Ministry of Economic Affairs – an advisory body – had presented a concept that provides for longer work in old age and a limitation on future pension increases. The proposal mentioned a retirement age of 68 years in 2042. Currently, the rule applies that the age for entry into retirement without deductions should increase to 67 years by 2030. The advisory board warned that the pension system would head for a “financing shock” without further increases.

Employer President: “Lead honestly” pension discussion

Employer representatives were open to the experts’ suggestion. Employer President Rainer Dulger said with a view to demographic development that one should not get into a situation in which there are more service recipients than service providers. “The discussion must be conducted and it must be conducted honestly,” said Dulger. The topic cannot be concluded with stubborn rejection. People who would like to work longer should also be included in the discussion.

DGB and left indignant

The SPD gets a tailwind from its criticism from the German Trade Union Confederation (DGB) and the Left Party. The advisory body wants to “drastically cut pensions, dismantle the welfare state and privatize old-age pensions – all of this to massively relieve employers,” said DGB board member Anja Piel of the “Neue Osnabrücker Zeitung”. She accused the body of announcing the imminent ruin of the state on the basis of a fictitious legal status in order to then justify radical reforms. This is not scientifically based advice, but political propaganda. “From this oblique perspective, those affected are to blame if the pension is not enough: they could have made more private provisions,” said Piel. Left party leader Susanne Hennig-Wellsow spoke of an “asocial Oberhammer.” The left will “defend the rights of pensioners with tooth and nail”. What would be necessary would be a clear pension guarantee that bindingly excludes pension cuts as a result of the corona pandemic, said Hennig-Wellsow.

Government advisory council proposal Will you retire at 68?

Status: 07.06.2021 6:49 p.m.

Advisors to the federal government consider it necessary to raise the retirement age to 68 years. Otherwise, the pension will soon be heading for a “financing shock”. The left reacted indignantly. Advisors to the federal government proposed a reform towards the retirement age at 68 around three months before the general election. There was a risk of “sudden increasing financing problems in the statutory pension insurance from 2025”, predicted the Scientific Advisory Board at the Federal Ministry of Economics on the occasion of its new report on the future of pensions. According to the current legal situation, the age limit for the pension without deductions will be gradually increased from 65 to 67 years until 2029. The proposal could catapult the topic of pensions more strongly into the debates ahead of the federal elections. Because the positions of the advisory board are likely to meet with rejection from the SPD, the Greens, the left and the trade unions. “This is the anti-social Oberhammer,” said left party leader Susanne Hennig-Wellsow with a view to the report. Economics minister Peter Altmaier had to “cash in immediately” the corresponding report from his advisors, “otherwise the pension election campaign will start tomorrow”. The left will “defend the rights of pensioners with tooth and nail”. What would be necessary would be a clear pension guarantee that bindingly excludes pension cuts as a result of the corona pandemic, said Hennig-Wellsow.

“Dynamic coupling of the retirement age to life expectancy”

The experts emphasized that the retirement age cannot be decoupled from the development of life expectancy in the long term. “Instead, the additional years of life must be divided according to a clear rule between working more and receiving a longer pension.” To this end, there should be a “dynamic link between the retirement age and life expectancy”. The relationship between the time spent in work and in retirement should remain constant. According to current projections of life expectancy, such a rule would reach retirement age in 2042 at 68, said the director at the Max Planck Institute for Social Law and Social Policy, Axel Börsch-Supan, who was in charge of the report. The advisory board emphasized in its announcement: “Should life expectancy decrease, the retirement age may also decrease.”

“Sharply increasing subsidies from the federal budget” necessary

By calling for the retirement age to be linked to life expectancy, the committee made a proposal that has been causing waves in the pension policy debates in Germany for years. It is illusory to expect “that higher contributions and a lower pension level can be avoided in the long term”, according to the panel of experts. In the opinion of the advisory board, “sharply increasing subsidies from the federal budget” would have to flow into the pension fund if the valid holding lines for contributions and the pension level were to be maintained. “That would be at the expense of future investments, for example in education, infrastructure and climate protection, and would undermine the sustainability of our social system,” said the chairman of the advisory board, Klaus M. Schmidt, according to the announcement. The advisory board’s proposals also include making existing pensions less dynamic than new pensions when it comes to pension increases.

Photo: VNA After a trip to Vietnam, Kara Williams, a former reporter, magazine editor and now a freelance writer, understood clearly why the Southeast Asian nation has become an attractive destination with foreigners, especially retired people like. This American writer talked about his trip to Vietnam and outlined 8 reasons that many foreigners fall in love with the S-shaped country as follows: My first visit to Vietnam last year was miraculous. From the moment my husband and I arrived at the Ho Chi Minh City airport, I was fascinated by the energy of this sweltering urban center, from late night bars to bustling outdoor bars as well as hundreds. the motorcycle stops every time the red light turns on, which requires great courage and fast speed to cross streets with heavy traffic. Then, in the coastal city of Hoi An, I was amazed at the well-preserved AQ and its centuries-old houses, recognized by UNESCO as a World Heritage Site. We order exotic and delicious food from the night market stalls by pointing at the photo menu, walking the countryside by bike, learning about the rice fields and how to make rice paper, taking a taxi to the beach white sand sea …. This colorful country trip less than a week was too short for us. Before I left Vietnam, I vowed to come back here one day. I remember telling my husband, “You can spend a lot of time here”. I am not alone. With its rich culture, tropical weather, low living standards and many opportunities to visit in Southeast Asia, Vietnam is a popular destination for people to move here. Many retirees are also interested in Vietnam. In fact, Vietnam ranks 10th on International Living magazine’s list of the best places in the world to retire in 2021. Here are the reasons why people consider spending their retirement years in Vietnam. Living expenses International Living magazine points out that Vietnam’s exceptionally low cost of living is a major attraction. In the book In A Better Life for Half the Price (a better life at half the price), author Tim Leffel said, Vietnam is “one of the most valuable places in the world for tourists, especially for tourists. especially in terms of accommodation and food “. Hence, this is a place of great value for the people who live there. Leffel said, when referring to apartments anywhere in Vietnam, “you can find beautiful rooms with reasonable prices in the range of 300-800 USD / month”. Indeed, Neil Varden, CEO of CabinZero who moved from England to Ho Chi Minh City 3 years ago, also said that the cost of living here is very good. “Honestly, I can live like a king without spending a lot of money,” says Varden. Low prices make sightseeing, shopping, and dining in Vietnam more attractive. Immerse yourself in a crowded, affordable restaurant and pay only $ 1 for a cold beer, $ 2 for a sandwich – one of my all-time favorites. Which brings me to … Opportunities to travel Once Vietnam is where you live, going anywhere in Southeast Asia is easy. There is a wide range of flights on low-cost airlines so you can often travel to Thailand, Cambodia, Laos or Malaysia. Traveling in Vietnam is also quite simple, with flights between cities like Ho Chi Minh City, Da Nang and Hanoi, plus a system of buses, trains and even ships to the islands. favorably like Phu Quoc. Food Everywhere, not only Vietnamese food is extremely cheap, but also at restaurants. During my trip to Vietnam, we enjoyed all the typical dishes of Hoi An, from bread to white rose cake, tall. We also tried a variety of other dishes, including pho, spring rolls and Vietnamese pizza – which included meat, eggs, and vegetables on a rice paper roll, all folded to taste. Vietnamese black coffee is also great, though I haven’t tried egg coffee yet. I also couldn’t resist the baguettes and rolls of breakfast buffets. If you are a foodie, love to try new dishes and pay a little money, Vietnam will not disappoint you. Human I agree with Neil Varden’s view that Vietnamese people are very friendly. In fact, wherever we go, we meet smiling faces, people willing to help us. I found it to be really true at the hotel we stayed in in Hoi An, where gentle manners and hospitable nature are what the receptionists and restaurant staff always show off. My English speaking tour guide is knowledgeable and happy to answer all my questions about her life in Vietnam. Phil Minett, an Australian, came to Vietnam for a short vacation in March 2020 with the aim of seeing if this could be a place where he could settle permanently. After that, the border was closed due to the Covid-19 pandemic and a year later, Phil was still in Vietnam. While living in a very local 10-story building in Ho Chi Minh City, Phil said he saw the generosity and friendliness of the neighbors around him. Lots of places to live Da Nang seems to be a suitable place for many foreigners, with a series of cafes (with fixed internet), golden beaches, high-rise apartments and beautiful scenery because 3 sides have mountains. around. The south of Da Nang has two world-class golf courses, the further south is the colorful city of Hoi An – where it might be too crowded with some retired people. However, it’s still quite vibrant with many restaurants, cafes, close to many beaches and a slew of tailor-made shops – if tailoring at the right price makes you feel like it. Ho Chi Minh City is an attractive place if you like a historic urban center. The capital Hanoi is located in the north of Vietnam, not as warm as Ho Chi Minh City. Some smaller cities that foreigners can consider are Da Lat, Nha Trang, Vung Tau and Phu Quoc, International Living magazine writes. Weather Vietnam’s monsoon tropical weather also attracts many people, especially those who want to say goodbye to winter in North America. However, this weather is not for everyone. Temperatures in Vietnam can reach 37.7 degrees or more in some regions during the hottest months and humidity is present everywhere in the country. The seasonal climate changes depending on whether you are inland or coastal, north or south. Please see the website of Vietnam National Administration of Tourism for more information on weather. History and Culture From ancient temples and pagodas to 20th century war history, Vietnam offers plenty of fun for retirees who want to open their minds to exploring cultural and historical events. in Vietnam and Southeast Asia. There are countless opportunities to take part in cultural tours and classes to learn how to weave a sleeping rug from a dry reed or to trade in a floating market in the Mekong Delta. Museums detail Vietnam’s invaded history and you can even travel through the Cu Chi Tunnels, a hidden underground system. Of course, it is possible to experience the national culture by simply walking through a neighborhood, eating local food, watching families play in the park or watching a show at a local theater. Once again, Vietnam offers you many opportunities to do just that. Development future After retiring, Jefferson Saunders moved to Vietnam in 2016. Before that, Saunders had come to Vietnam many times. Like many others, though attracted by the friendliness of the Vietnamese and the cost of living here, this man is increasingly interested in watching the development between the old and the new. This emerging market has “higher education, better income, internet, more travel with serious investments pouring in”. The 70-year-old and married man said that Vietnam’s major cities now have many Western-style clinics and hospitals. In addition, there are many high-end hotels in the cities. The challenge of living in Vietnam Unlike some other countries, like Mexico, Vietnam does not have a “retirement visa”. So it is difficult for retired people who do not work in Vietnam to stay here for a long time. There are tourist visas that require you to leave Vietnam every 90 days, the rules depend on which country you are in. Then there is a visa category for foreigners working in Vietnamese companies, as well as investment visas for people working in Vietnam or investing in certain companies. “Applying for a visa is not easy because the rules are always changing,” said Neil Varden. Pollution is also an issue in cities in Vietnam, partly due to the flow of cars and motorcycles and limited environmental policies, Leffel writes in A Better Life For Half The Price.

The Ministry of Labor, Invalids and Social Affairs has just submitted a proposal to the Government to develop the Law on Social Insurance (amended) (social insurance). According to the Ministry of Labor, Invalids and Social Affairs, the current development of social insurance beneficiaries is below potential, many people are subject to compulsory social insurance but have not yet participated. The current law is “missing” many subjects Data from the General Statistics Office shows that in 2019, the whole country had more than 5.6 million individual business households, eight times the number of enterprises. According to the tax authorities, the country has more than 1.7 million times of households paying tax (households with turnover less than 100 million VND / year do not have to pay). However, this group is not subject to compulsory social insurance, so very few individual business householders participate in voluntary social insurance. According to data from the Ministry of Planning and Investment, in 2019 there are about 23,000 active cooperatives, attracting nearly six million members. In which 1.2 million people work in the cooperative area. But according to the report of the social insurance agency, there are nearly 7,000 cooperatives registered to participate in compulsory social insurance for about 41,000 employees. “Through a survey in some localities, many business managers, managers and executives of unpaid cooperatives wish to participate in compulsory social insurance …” – said by the Ministry of Labor, War Invalids and Social Affairs. Therefore, the Ministry of Labor, War Invalids and Social Affairs proposes to add compulsory social insurance participants for individual business householders, business managers, managers and cooperatives without pay. Specific provisions on compulsory social insurance for employees who work part-time and participate in compulsory social insurance with civil servants, public employees, part-time workers at commune level who also sign labor contracts. moving. According to the assessment of the Ministry of Labor, Invalids and Social Affairs, the above provision helps to increase the income of the social insurance fund in the short and medium term, while also increasing the expenditure from the social insurance fund in both short, medium and long term. The number of people who receive one-time social insurance to take care of their immediate life tends to increase. Photo: V.LONG Need to have a share in participating in social insurance According to the Ministry of Labor, Invalids and Social Affairs, the nature of risk sharing is only evident in sickness, maternity, labor accident, and occupational disease regimes. The pension policy is designed to be heavy on the principle of payment – benefit (pay more and enjoy more and vice versa) but lack attention to the principle of sharing between high and low salary people. According to data reported by the Vietnam Social Security, by the end of 2017, the average pension is 4.26 million VND / person / month. In which, the highest is 101.3 million VND / person / month, the lowest is 1.3 million VND / person / month (more than 4,100 people have this pension). The large gap in pension discourages people with low wages, leading to an increase in the number of people who want to receive one-time social insurance. In recent years, each year about 600,000 people enjoy one-time social insurance and leave the social insurance system. Therefore, this agency proposes to amend the method of calculating the average monthly salary paid for social insurance to calculate the pension for the employee, in the direction of the average monthly salary paid for social insurance of that person and the average monthly salary paid for social insurance. of people participating in social insurance to calculate their pensions. Thus, there will be a certain share between the high-paid and the low-paid. “The narrowing of the pension gap will encourage the participants of low-wage social insurance to reserve the time to pay social insurance to enjoy the pension instead of receiving one-time social insurance …” – The Ministry of Labor, War Invalids and Social Affairs assessed. The Ministry of Labor, Invalids and Social Affairs said that if allowed, the unit would be authorized by the Government to submit to the National Assembly for consideration and comments on the first bill at the second session of term XV (October 2022). Submit to the National Assembly for approval at the third session, term XV (May 2023). “Tighten” regulations on receiving social insurance once Currently, the condition to receive one-time social insurance is quite easy. Specifically, after one year of not participating in social insurance, the employee can receive one-time social insurance with the entitlement of 1.5 months of salary for each year participating in social insurance before 2014 and two months of salary for each participating year thereafter. Thus, with the contribution to the pension and death fund of 8% of the salary from the employee, the one year of paying 0.96 months of salary, the entitlement to two months’ salary upon receiving one-time social insurance is considered profitable. Along with having to wait too long to enjoy pension, employees will want to receive one-time social insurance to meet immediate needs. Therefore, it is necessary to adjust the regulations on one-time social insurance entitlement in the direction of having a roadmap to only deal with employees when they have reached the end of their working age but are not eligible for pensions without the need to continue paying. . Except for the case of going abroad to legally settle down or suffering from a dangerous disease and wishing to receive it once, or if the case is not yet over the working age, but receives one-time social insurance, the rate of entitlement is lower. In addition, the law also needs to amend the conditions for enjoying the pension in the direction of gradually reducing the number of years of minimum social insurance payment from 20 years to 15 years, towards 10 years with an appropriate calculated benefit level, creating conditions for The elderly, with a low number of years participating in social insurance, are entitled to pensions. 65% of Vietnamese elderly do not have a pension According to the Ministry of Labor, Invalids and Social Affairs, by the end of 2020, Vietnam has about 14.1 million people after the retirement age (55 years old for women, 60 years old and older for men). Of which, only over 3.1 million people are enjoying the pension (accounting for 22.1%) and 1.8 million people are enjoying the retirement allowance. There are still about 9.2 million people after the retirement age (accounting for 65%) who have not participated in insurance or any other social security layer.

Hello editor, I am a fourth-level sergeant major who is going to change jobs this year. After the Veterans Protection Law was promulgated, we have been very concerned about the scope and standards of non-commissioned officers receiving retirement money after retirement. I don’t know if our military strength has the latest news. Also, when does the method of receiving retirement pensions start?

reply:

Hello comrades, regarding the issue of veterans receiving retirement money month by month, we first open the “Veterans Protection Law” that will be implemented on January 1, 2021, and it is clear in Article 2 of this law: veterans as referred to in this law, Refers to the officers, sergeants, and conscripts of the Chinese People’s Liberation Army who have retired from active service in accordance with the law. Here everyone needs to pay attention to the three main bodies in the previous military policy: officers, noncommissioned officers, and conscripts. In this law, they have become officers, sergeants, and conscripts.

Article 22 of the “Law on the Protection of Veterans” stipulates that the state adopts monthly retirement payments, independent employment, job placement, retirement, and support for retired sergeants. Those who have served the specified number of years in active service and are placed in the form of receiving retirement money monthly, shall receive retirement money monthly in accordance with relevant state regulations.

And Article 23 stipulates: The state adopts independent employment, job arrangement, support and other methods to properly arrange for retired conscripts. Here is a special distinction between the placement of sergeants and conscripts, and it is clear that retired conscripts can also choose to arrange work, which is really impressive.

Regarding the specific scope of use, standard conditions, and calculation methods of retirement payment monthly, I believe that reasonable settings will be made based on the specific distinctions in the above regulations. According to the editor, regardless of whether it is from the press conference of the Ministry of Retired Servicemen, It is the information obtained from the staff of the relevant departments, and the approximate number of years has been basically set, and I believe that some comrades in arms have also heard of it.

But before the policy documents are published, we can only wait quietly, and the wait will not be long! The new “Regulations on the Placement of Veterans” will give us a comprehensive clarification and plan.

The old house has a high construction density, lack of natural light, stuffy space, lack of connection and the owner needs to change to have a better life. They are a couple approaching retirement age, who love the tranquility and closeness to nature. House address in Da Nang.

The solution that Hinzstudio offers is that the common spaces of the house are moved to the front to increase the connection between family members and receive natural light into every corner of functional areas.

Sky wells will be organized at the front, back and center of the house to bring full light while still creating depth.

From all positions of the house, even from the bedroom, we can feel the change in light, air and wind.

The main materials are raw bricks and natural wood.

The shape of the roof and materials evoke images of houses in rural Vietnam. This is the main inspiration for the design.

At night, instead of using too many high-powered lamps, the design team’s main goal is to use lamps with a moderate capacity and the right color temperature to make the space more cozy and peaceful. .

pear spring (According to the ArchDaily)

The Vietnam Social Security Agency informed that, over the past time, due to the prolonged effect of Covid-19, many employees (employees) quit their jobs and lost their jobs, so they chose to receive social insurance once. According to the statistics of Vietnam Social Security, only in the first 3 months of 2021, the number of people enjoying one-time social insurance up to more than 226,500 people, an increase of more than 20.5% over the same period in 2020.

Many employees enjoy one-time social insurance with the desire to have an amount of money to cover their current lives. At the same time, a part of the employees still have the concept of “young depend on their father, old and trust their children”, not forming a habit when children pay social insurance so that when they get old, they can have a pension and control their own life. must depend on descendants.

The fact that an employee registers to receive social insurance once, leaves the social insurance system by himself is a worrying situation, not only directly affects the interests of employees, but also affects the socio-economic situation, as well. such as ensuring social security for the people of the Party and State.

The Vietnam Social Insurance Agency affirmed: Receiving the one-time social insurance only gives employees immediate benefits, but the employees have not fully foreseen the risks of losing many of their long-term benefits.

firstAccording to the current law, the total social insurance contribution to the retirement and survivorship fund is 22% of the monthly salary as a basis for the employee’s social insurance payment. In which, the employee pays 8% and the employer pays 14%, the total annual contribution to the social insurance fund. This specific ratio is equal to 2.64 month salary per year.

Meanwhile, if the employee is entitled to one-time social insurance, the annual entitlement rate of social insurance payment is only 1.5 months of the average monthly salary paid for social insurance for the years of payment before 2014 and equal to 2 months of the average monthly salary paid for social insurance. for the closed years from 2014 onwards.

Thus, if receiving one-time social insurance, the employee will lose about 1.14 months of salary for each year of social insurance payment before 2014 and about 0.64 months of salary for each year of social insurance payment after 2014.

Monday, When receiving one-time social insurance, employees will no longer have the opportunity to enjoy their pension, have no stable monthly income to ensure their life in old age. This is a very dangerous thing and leads to other disadvantaged consequences such as: not being granted a free health insurance card to enjoy the benefits of medical examination and treatment with health insurance, health care in old age, an age prone to difficulties. health assessment of each person. Because pensioners will be provided with free health insurance cards during the period of pension entitlement.

Moreover, the employee’s relatives are not entitled to the death benefit when the employee’s unfortunate death. Because if enjoying the pension, when unfortunately dies, the person who takes care of the funeral will receive a one-time funeral allowance equal to 10 times the base salary in the month the pensioner dies and their relatives are entitled to the death allowance. survivor monthly or once.

Ho Chi Minh City social insurance officials mobilize people to participate in social insurance to have a pension when they get old

Tuesday, the money paid to the social insurance fund is a valuable reserve of the employees themselves, it is not lost, but on the contrary, it is managed and invested by the social insurance agency.

In case, with the immediate difficulties (due to job loss, income loss), employees can completely reserve the time to pay social insurance, so that when possible, continue to participate in compulsory social insurance or participate in voluntary social insurance.

Conversely, when the employee has received one-time social insurance, if he / she participates in social insurance again, he / she will not be added to the time of previous social insurance payment, leading to when he is old enough to receive the pension, he / she may not be eligible for the time of payment to receive. pension or pay-period eligibility to receive a pension but the pension rate will not be high.

WednesdayWhen social insurance participants enjoy their pension, the pension level is adjusted periodically according to the consumer price index and economic growth (since 2003, the State has increased the pension by 17 times, with increases from about 7.5% to 9.3% for each adjustment, depending on the target group).

The total monetary benefits when enjoying the pension are much higher than when enjoying one-time social insurance

Sharing the concern about the increase in the number of employees receiving one-time social insurance, Mr. Do Ngoc Tho, Head of the Policy Implementation Department of Social Insurance and Vietnam Social Insurance, affirmed that when an employee receives one-time social insurance, the employee will suffer a lot, because Not yet at retirement age, all old pension money has been spent. When you get old, you cannot receive pension benefits and depend on children, grandchildren and the society.

If they unfortunately get sick and do not have a health insurance card, they also face the risk of not being able to pay the cost of medical examination and treatment after just one illness, long hospital stay, possibly facing poverty. hunger and exhaustion become a burden on families and society.

Mr. Do Ngoc Tho analyzed and took an example of an employee who has full 20 years of social insurance payment, with the average salary of 4 million VND / month for social insurance. Assuming this employee is eligible for a pension or a lump-sum social insurance benefit in 2021, if they are entitled to a pension, the male employee may receive a pension of 1.88 million VND / month.

Based on the average life expectancy of men of 71 years (the average life expectancy of men according to the General Statistics Office 2019), the number of months enjoying pension is 129 months. The total amount of money that person is entitled to from the social insurance fund is nearly 274 million dong.

In which, the total pension received from the age of 60 years and 3 months until death is 129 months x 1.88 million dong = nearly 243 million dong; buying health insurance card (4.5%) equaling nearly 11 million dong; a funeral allowance upon death (10 months base salary), equivalent to 14.9 million dong; survivorship allowance (assuming the lowest one-time death equal to 3-month pension) is over 5.6 million dong.

Many workers in Ho Chi Minh City participate in social insurance to have pensions to help control their life in old age

For female employees, because the percentage of female employees to enjoy pensions is higher (55%) and the period of enjoying pensions of women is longer than that of men (the average life expectancy of women is 76.3 years, equivalent to that after retiring at the age of 55 years and 4 months, retirees will live 240 months), so the total amount a female employee in this example will be entitled to from the social insurance fund is nearly 573 million dong.

Meanwhile, assuming that the employee goes abroad to settle down or has a life-threatening illness such as cancer, polio, cirrhosis, leprosy, severe tuberculosis, HIV infection has turned to AIDS and other diseases. according to regulations of the Ministry of Health; If receiving one-time social insurance, for both men and women, they will follow the calculation as follows: 4 million VND x (1.5 x 13 + 2 x 7) = 134 million VND. Thus, men on pension will benefit more than receiving one-time social insurance of nearly 140 million dong.

Thus, if compared with pension entitlement, receiving one-time social insurance is very disadvantageous for the employees. Because, when social insurance participants enjoy their pension, they enjoy a lot of benefits and the fact shows that the new pension is a solid support for employees when they get old, when they no longer have the ability to generate income.

Mr. Do Ngoc Tho also emphasized that receiving social insurance once will bring many disadvantages for employees. Employees should not for immediate benefits but miss the opportunity to enjoy a pension to cover their lives, as well as to enjoy the health insurance regime to take care of their health in old age. If the same time of social insurance payment is paid, the total monetary benefits when enjoying the monthly pension will be much higher than when enjoying one-time social insurance.

Mr. Do Ngoc Tho recommends that employees consider carefully, should not decide to enjoy one-time social insurance, but should reserve the time to pay social insurance so that when possible, continue to participate in compulsory social insurance or participate in voluntary social insurance. conditions to self-guarantee and take care of their own health when they get old, and at the end of their working age.

During the period of time reservation of social insurance payment, if unfortunately the employee dies, the family is entitled to a funeral allowance equal to 10 months of base salary and their relatives depending on the conditions for monthly survivorship allowance (up to 4 people ) to adulthood (if the child) or until death (if the wife, husband or father, mother is out of working age and has no income or income but is lower than the base salary); In case of receiving one-time survivorship allowance, the allowance level is calculated as one-time social insurance.

Persons on death pension, if there is a relative who is eligible for the monthly survivorship allowance. In fact, there are fathers, mothers, spouses and children who have received a monthly survivorship allowance several decades after the death of their child, spouse or parent.

Video: Lan Nha sang “Alone through the street in the afternoon” by Trinh Cong Son

Matured from the show Vietnam IdolAfter a decade of searching for her position in the music industry, Lan Nha has just returned and made her mark about 4 years ago. Currently, he has a dense performance schedule and is favorably called “The Gentleman of Love Songs”. Talking with VTC News, Lan Nha admitted that he still has many things he wants to do in his career and later on when he stops singing, he dreams of having a small tea shop in the highlands, living simply with his wife.

– It seems to those who have entered the enchanting light of the stage, it is very difficult to stop the habit and passion. How can you imagine a Lan Nha without a stage and love songs?

I will be lonely and empty. Having been through this feeling for a while while struggling with a life without theater and music, I understand very well. I don’t want to go back to that feeling, at least at this stage.

Singer Lan Nha.

When I retire, maybe I will open a small tea shop in the highlands, can play gentle music. Behind the house, my wife likes to grow roses. I dreamed of life like that.

Singer Lan Nha

– Positioning the image and style of a gentleman singing love songs in the hearts of the public, is that the choice you pursue from the beginning or comes from an opportunity?

I do not dare to claim to be a gentleman, I just want to admit that I am a man singing love songs with a little bit of my own experience in life. I did not choose from the beginning but let everything be natural. If you follow it, you will see that my image has changed in accordance with the years that I have gone through, and my voice too. I think that singers who choose the same genre of music as me also need time to “mature” in both career and life.

– Join showbiz and stand in it, but he seems to choose a life that is not noisy and socially less. How do you explain your quietness as someone working in a world of noise?

Maybe it’s because of my personality like that before I’m afraid of noise and too noisy. Part of it is because I myself rarely talk, share, just confide in friends I consider to be close. I don’t want to get involved in things that aren’t mine, or talk about other people, so I have less communication. Ah, but when I got to know it, I also joked and talked a lot. Fortunately, my friends understand and sympathize with me.

Lan Nha claimed to be shy about noise and excitement.

– In the art world, do you have close friends?

I have close friends, but very few. Probably counting on one hand.

– Recently, he has had quite interesting handshakes. With Uyen Linh, Le Quyen and the female singers who worked together, who do you like the most?

I have worked with Vo Ha Tram, Nguyen Ha, Uyen Linh and most recently, Le Quyen. Each of them has their own charm point. I like Tram’s blood and fire, Nguyen Ha’s security, Uyen Linh’s passion and Le Quyen’s charm. It may be a bit greedy, but I love the beauty, especially the beauty of the soul, that it shows when you sing.

– His current image makes many people think of Ha Anh Tuan. What do you say about this?

I do not see me like Mr. Ha Anh Tuan. Mr. Tuan is a talented person, admired by many people, me too. But my idol is Uncle Tuan Ngoc.

– Have you ever dreamed of being like Ha Anh Tuan with spectacular shows, always selling out?

Not only me, but every singer dreams of being like Mr. Tuan. But dreaming is a dream, you know, in order to have success like Ha Anh Tuan right now, I think he and his team went through a lot of hardships that not everyone can stand. There is also talent, intelligence, team must be really good and rhythmic ….

I think each singer has its own place in the hearts of their audience. It is very important that I know where I am. That will help me firmly do what is right for me in each stage. And when things go naturally, so will the emotions. No need to prove anything, I believe the audience will feel it.

An audience member once told me that they went to the tea room to hear me finish singing and then left. They say working all day is tiring, coming to listen to me sing to relax, to comfort, that’s simple. I feel so happy to hear such simple words from time to time. It is like how I sing and go to music.

Lan Nha is cherishing new music projects.

– Working hard on online projects and running shows, when will Lan Nha present a project operating on online and online platforms at the same time?

Promising the audience is often broken, especially during this period. I just know that I just keep running the show, accumulating and making better products every day to the best of my ability. I feel lucky because my brother and sister are always by my side, giving me sincere advice. I would like to keep the upcoming products confidential.

– Have you ever thought about retirement age? Then, what will he do?

I’ve been singing again for about 4 years now is a lot. I am only 35 years old and I still have a lot of things I want to do with my career so I have not thought about retirement. But when I retire, maybe I will open a small teahouse in the highlands, maybe there will be soothing music. Behind the house, my wife likes to grow roses. I dreamed of life like that. But all of a sudden I have to accumulate more now.