September 14, 2010

Ageing populations and fewer workers strain pensions

By Andrew Walker Economics correspondent, BBC World Service

The world is getting older. In most countries, the population is ageing.

That inevitably has dramatic consequences for pensions and other arrangements for supporting older people.

There are two factors behind the trend. The first is clearly, in itself, good news. People are living longer.


Veterans Agency Made Secret Deal Over Benefits

By David Evans - Sep 14, 2010

The U.S. Department of Veterans Affairs failed to inform 6 million soldiers and their families of an agreement enabling Prudential Financial Inc. to withhold lump-sum payments of life insurance benefits for survivors of fallen service members, according to records made public through a Freedom of Information request.

The amendment to Prudential’s contract is the first document to show how VA officials sanctioned a payment practice that has spurred investigations by lawmakers and regulators. Since 1999, Prudential has used so-called retained-asset accounts, which allow the company to withhold lump sum payments due to survivors and earn investment income on the money for itself.


Why "Scientific Consensus" Fails to Persuade

Individuals with competing cultural values disagree about what most scientists believe

September 13, 2010

Suppose a close friend who is trying to figure out the facts about climate change asks whether you think a scientist who has written a book on the topic is a knowledgeable and trustworthy expert. You see from the dust jacket that the author received a Ph.D. in a pertinent field from a major university, is on the faculty at another one, and is a member of the National Academy of Sciences. Would you advise your friend that the scientist seems like an "expert"?