Latest news with #2034
Hindustan Times
13 hours ago
- General
- Hindustan Times
HC upholds in-situ rehab of slum dwellers on 65% of encroached open spaces
MUMBAI: The Bombay high court on Thursday upheld the validity of a clause in Mumbai's development plan that permits 65% of encroached land reserved for public open spaces to be utilised for in-situ rehabilitation of slum dwellers occupying the land. A bench of justices Amit Borkar and Somasekhar Sundaresan also directed the Brihanmumbai Municipal Corporation (BMC) and the Slum Rehabilitation Authority (SRA) to strictly ensure that the remaining 35% of the reserved land remains available as public open space. The bench was ruling on a petition filed in 2002 by NAGAR, a Mumbai-based nonprofit that had challenged Regulation 17(3)(D)(2) of the Development Control and Promotion Regulations (DCPR) 2034. The regulation allowed the use of 65% of encroached public open spaces that are not otherwise buildable and measure over 500 square metres in area for the in-situ rehabilitation of the encroachers via a slum rehabilitation scheme. The remaining 35% area is to be retained as public open space, according to the regulation. Refusing to interfere with the regulation, the bench said, 'It is a balanced policy that aims to recover a part of the land while also ensuring humane rehabilitation. This approach is neither unreasonable nor unconstitutional.' The bench added that the regulation reflects a practical solution to a difficult and long-standing issue between encroachments and the need for preserving public open spaces to protect the fundamental right of citizens to a healthy environment. Although the regulation reduces the reserved open space existing on paper, it ensures that at least 35% of the encroached land is freed and developed as a public amenity, the judges said. At the same time, it provides better housing and infrastructure to slum dwellers, they added. 'This approach does not destroy environmental values. It tries to recover some environmental benefit from already encroached lands, while also recognising the housing rights of the urban poor,' the bench said. What petitioners said NAGAR's petition, filed through its trustees Neera Punj and Nayana Kathpalia, challenged a notification issued by the state urban development department in 1992 and Regulation 17(3)(D)(2) of DCPR 2034. The petitioners contended that the notification and the regulation, in effect, legalised the diversion of 65% of the land for construction. This significantly diluted the purpose of the land's reservation and stripped the city of its much-needed green and open spaces, they said. According to the petitioners, the regulation went directly against the principles of sustainable development and the public trust doctrine, which asserts that public assets such as parks and open spaces should be preserved for collective enjoyment of the community and should not be sacrificed to accommodate encroachments or private development, even under the banner of welfare schemes. The petitioners also highlighted that the definition of a 'protected occupier' under the Slum Act has undergone considerable changes over the years. A larger pool of slum dwellers on encroached land can now get in-situ rehabilitation, they said, as the original cut-off date for determining eligibility has been extended from January 1, 1976, to January 1, 2011. This has, in turn, increased the burden on scarce urban land, including reserved open spaces, the petitioners argued. The petition further pointed out that even the basic safeguard in the 1992 notification—that at least 25% of the reserved open space must be encroached upon to trigger a slum rehabilitation scheme on it—was entirely removed in the new regulation. This opened up even slightly encroached parks, gardens, and playgrounds for slum rehabilitation, thereby completely defeating the purpose of reservation under the development plan, it said. The petition argued that open spaces are critical for the livability and ecological balance of the city. It added that there is no reason why the relocation policy adopted for infrastructure projects such as railways, roads, or metro corridors, which require the land to be cleared, should not be applied to slum dwellers on public open spaces, which are as essential for the well-being of citizens. What court ruled The high court found no 'clear legal or constitutional defect' in the policy and 'no procedural irregularity or legal flaw' in the procedure. However, it added that a proper balance between the two facets of the right to life—right to healthy environment and right to shelter and a dignified life—would be achieved only if the remaining 35% of these lands are strictly maintained as public open spaces. To achieve this balance, the court directed that the remaining 35% open space must be clearly demarcated in the final approved layout plan of the slum scheme. The plan should also reflect the precise location and dimensions of the open space, which cannot be subsequently modified or shifted, it said. The bench restrained the SRA from granting approval to any slum rehabilitation proposal unless this requirement is 'visibly and verifiably' complied with. The court added that slum rehabilitation schemes on public open spaces should be approved only if the encroachment existed prior to the date of reservation, and the collector issues a certificate that alternate land to rehabilitate the slum dwellers is not available. The BMC was directed to prepare a ward-wise action plan listing all reserved open spaces, complete GIS-based mapping and geo-tagging of all these plots in four months, and upload the data on its website, along with the plots' current usage status. The court also directed the state government to review the policy to evaluate whether the 35:65 ratio serves the goals of sustainable development and come up with a new policy framework, if necessary.
The Independent
2 days ago
- Business
- The Independent
Social Security fund set to run out in 2034, one year earlier than estimated
Social Security is on track to run out by 2034, one year earlier than previously estimated, according to a new report. Social Security funds for retirees and survivors of deceased workers are set to run out in 2033, according to this year's annual report by the Social Security and Medicare Boards of Trustees. But funds for retirees and survivors could last until 2034 if Congress combines the Old-Age and Survivors Insurance Fund with another fund for disability insurance. Payments won't stop once the funds run dry. Instead, monthly benefits will be cut by 19 percent, the trustees estimate. That means the average retired worker — who currently receives an average monthly payment of $2,002.39 — could see their payment drop down to $1,621.94. Last year, the trustees estimated the combined funds could last until 2035. The trustees attributed the change in their estimate to the Social Security Fairness Act, a bill passed under President Joe Biden with bipartisan support. The law, which went into effect in January, boosted benefits for more than three million retirees. More Americans are also filing for Social Security benefits this year. From January to May 2025, the program saw a 17 percent spike in enrollments compared to the same period last year, CBS News reports. As a result, an estimated four million new beneficiaries are expected to enroll by the end of 2025. The Medicare Hospital Insurance Trust Fund is also set to run dry in 2033, three years earlier than the trustees previously projected. This fund helps cover stays in hospitals, nursing homes and hospices for Social Security recipients over 65 or those on disability insurance. After 2033, the fund will only be able to pay 89 percent of benefits. A federal official told Axios that hospital usage has soared in 2024 following a drop-off at the height of the Covid-19 pandemic. "Was that foregone services from the Covid-related experience…or is there some broader change in terms of how health care is being dispensed?" the official said. "Obviously something we will continue to monitor." Advocacy groups for Social Security beneficiaries say Congress must act fast to protect beneficiaries. "Congress must act to protect and strengthen the Social Security that Americans have earned and paid into throughout their working lives," AARP CEO Myechia Minter-Jordan told CBS News. "More than 69 million Americans rely on Social Security today and as America's population ages, the stability of this vital program only becomes more important,' Minter-Jordan added. Social Security Commissioner Frank Bisignano, who was sworn into his position last month, says lawmakers are committed to strengthening the program. 'Congress, along with the Social Security Administration and others committed to eliminating waste, fraud, and abuse, must work together to protect and strengthen the trust funds for the millions of Americans who rely on it – now and in the future – for a secure retirement or in the event of a disability,' Bisignano said in a statement on Wednesday.
Bloomberg
2 days ago
- Business
- Bloomberg
Social Security Warns of 23% Benefit Cut by 2034 Without a Fix
The Social Security trust fund will become unable to pay scheduled benefits to retirees and the disabled as soon as 2034, new projections show — one year earlier than last year's estimates. The reports out Wednesday from trustees of Social Security and Medicare funds ramp up the urgency to find a solution to the growing gap between contributions and benefits — or else today's 59-year-olds will see an automatic 23% benefit cut when they reach full retirement age.
CNN
2 days ago
- Business
- CNN
Social Security won't be able to pay full benefits in 2034 if Congress doesn't act
Social Security will not be able to fully pay monthly benefits to tens of millions of retirees and people with disabilities in 2034 if lawmakers don't act to address the program's pending shortfall, according to an annual report released Wednesday by Social Security's trustees. The combined Social Security trust funds – which help support payments to the elderly, survivors and people with disabilities – are expected to be exhausted in 2034, one year earlier than previously forecast, according to the trustees' annual report. At that time, payroll tax revenue and other income sources will only be able to cover 81% of benefits owed. The deterioration in the forecast stems from several factors, including a law passed by Congress last year that increased benefits for certain workers and the trustees' assumption that it will take longer for the nation's fertility rate to recover from historically low levels. Average earnings are expected to grow somewhat more slowly over the coming decade, according to the report. Medicare's fiscal outlook also worsened. Its hospital insurance trust fund, known as Medicare Part A, is expected to be able to cover scheduled inpatient hospital benefits until 2033, compared to 2036 in last year's report from the program's trustees. At that time, Medicare will only be able to pay 89% of total scheduled Part A benefits, which also cover hospice care, short-term skilled nursing facility services and home health services following hospitalizations. The program's trustees project that Medicare's trust fund will be drained sooner because of increased medical spending in 2024, which also raised the forecast for future expenditures. Plus, the trustees raised their assumed growth level of inpatient and hospice services in coming years. Medicare Part B, which covers physician services and medical supplies, and Part D, which covers prescription drugs, are financed through beneficiary premiums and federal contributions that are adjusted annually to cover costs. Their trust fund is fiscally sound. The Medicare trustees are projecting that the standard monthly Part B premium will jump to $206.50 in 2026, from $185. The amount will not be finalized until later this fall. The driving factor in the quickening of Social Security's trust fund insolvency is Congress' passage late last year of a bipartisan bill that increased benefits for nearly 3 million federal, state and local employees. The Social Security Fairness Act eliminated two policies that had reduced Social Security payments for public sector workers. Experts had warned the measure would hurt the program's finances. It was a 'political giveaway masquerading as reform,' Romina Boccia, director of budget and entitlement policy at the libertarian Cato Institute, said in a statement. 'Instead of tackling Social Security's structural imbalances, Congress chose to increase benefits for a vocal minority — accelerating trust fund insolvency by 6 months in the process,' Boccia said. 'It's a clear sign that populist pressure now outweighs fiscal responsibility and economic sanity on both sides of the aisle.' Looking solely at the trust fund that covers retirement and survivor benefits, Social Security will only be able to afford scheduled payments in full until 2033, three fiscal quarters earlier than last year's projection. At that time, the fund's reserves will be depleted, and continuing income will cover only 77% of benefits owed. The Disability Insurance Trust Fund is expected to be able to cover full benefits at least through 2099, when the projection period ends. Merging the two trust funds would require an act of Congress, but the combined projection is often used to show the overall status of the program. Just over 60.1 million people received Social Security retirement and survivors benefits at the end of 2024, while 8.3 million Americans received disability benefits, according to the program's trustees. Some 67.6 million people were enrolled in Medicare. Social Security and Medicare have long been on shaky financial ground, largely because the nation's population is getting older and living longer. The number of beneficiaries is ballooning, but fewer workers are paying into the programs. Also, health care usage and spending are growing. Social Security and Medicare, however, will not run out of money since current workers are paying payroll taxes, which support the programs. The problem is that the revenue will not be enough to fully cover the benefits owed after the trust funds run dry. Still, the trustees' dire warnings are not likely to spur Congress to act any time soon, experts say. GOP lawmakers, who control both chambers, are focused on passing President Donald Trump's agenda bill. The president, meanwhile, has not released any proposals for extending the life of the entitlement programs' trust funds, promising only not to cut Social Security and Medicare as part of his megabill. 'Any politician who doesn't support increasing Social Security's revenue is, by default, supporting benefit cuts,' Nancy Altman, president of Social Security Works, an advocacy group, said in a statement. The longer lawmakers wait to address the looming shortfall, the fewer options they will have, experts say. 'As the date gets closer and closer, Congress really needs to start getting more focused,' said Bill Sweeney, senior vice president for government affairs at AARP. 'The American public expects them to get focused on this, to protect the money that they've earned.' Options to address Social Security's fiscal issues include raising the payroll tax rate; delaying the ages when people can start collecting benefits or receive their full retirement payments; increasing the amount of income subject to the payroll tax; and curtailing benefits or the rate at which they increase annually, among other proposals. 'Taking action sooner rather than later will allow consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare,' the trustees wrote in a message to the public.
CNN
2 days ago
- Business
- CNN
Social Security won't be able to pay full benefits in 2034 if Congress doesn't act
Social Security will not be able to fully pay monthly benefits to tens of millions of retirees and people with disabilities in 2034 if lawmakers don't act to address the program's pending shortfall, according to an annual report released Wednesday by Social Security's trustees. The combined Social Security trust funds – which help support payments to the elderly, survivors and people with disabilities – are expected to be exhausted in 2034, one year earlier than previously forecast, according to the trustees' annual report. At that time, payroll tax revenue and other income sources will only be able to cover 81% of benefits owed. The deterioration in the forecast stems from several factors, including a law passed by Congress last year that increased benefits for certain workers and the trustees' assumption that it will take longer for the nation's fertility rate to recover from historically low levels. Average earnings are expected to grow somewhat more slowly over the coming decade, according to the report. Medicare's fiscal outlook also worsened. Its hospital insurance trust fund, known as Medicare Part A, is expected to be able to cover scheduled inpatient hospital benefits until 2033, compared to 2036 in last year's report from the program's trustees. At that time, Medicare will only be able to pay 89% of total scheduled Part A benefits, which also cover hospice care, short-term skilled nursing facility services and home health services following hospitalizations. The program's trustees project that Medicare's trust fund will be drained sooner because of increased medical spending in 2024, which also raised the forecast for future expenditures. Plus, the trustees raised their assumed growth level of inpatient and hospice services in coming years.
