Pension Benefits Counsling

Pension Benefits Counseling

Pension Rights Center

Adequate pensions are a key factor in helping older persons maintain financial security and independence, so Congress called fro the Administration on Aging (AoA) to establish a demonstration program to assist older Americans in accessing information about their retirement benefits and negotiating with former employers for due compensation, when appropriate. The AoA pension information and counseling projects are designed to reach out, educate, and promote pension awareness and protection among older individuals.

AoA originally funded seven demonstration projects and the Pension Rights Center. Congress provided funding in 1998 to expand the number of projects to 10. Currently the program serves 27 states.

Since the beginning of the Pension Counseling Program, approximately 25,000 people have been served by the projects in one way or another, resulting in a total estimated $50 million recovered for individual claimants. As a result of investigations on their behalf, most of the pension clients have received increases in their pensions in lifetime amounts ranging from $36 to $60 per month-not insignificant for persons living on fixed incomes.

The information above is reprinted from Working with Seniors: Health, Financial and Social Issues with permission from Society of Certified Senior Advisors® . Copyright © 2009. All rights reserved. www.csa.us