Pensions, Insurance, and Personal Finance: Key Recent Changes and Risks
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Pensions, Insurance, and Personal Finance: Key Recent Changes and Risks

In the USA, one of the largest pension system changes in years took place. On January 5, 2025, President Joe Biden signed the Social Security Fairness Act, which eliminates two controversial mechanisms: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These rules had for decades reduced Social Security benefits for individuals who worked in…