Quote:
Originally Posted by ForteCash
Man that fucking sucks. My dad and grandma live off their social security check each month and literally have no savings  If that check stops.. fuckus. |
Sure.. they worked for that pension and fully entitled to every dime.
It's not just the US where that scenario is likely to arise ForteCash. The abuse govts have for pension funds that don't actually belong to them is amazing. They spend their way thru other peoples pension money as tho it belonged to them.
There are elements of that elsewhere, including the EU. The UK govt is much the same. If the same funds were invested into a balanced range of markets, the pension level would have been a lot higher. In recent years there has been a push for everyone to make their own pension provisions - only two reasons exist for that:
(a) the govt has already spent the pension fund and the pot is empty.
(b) the govt now think it's a wonderful idea that everyone should have control of their pension funds (sales pitch, but a bit late for that
) - and in the process absolve them of their previous commitments to pensions.
PS Next they'll be charging taxes for annual appreciation of private pension funds
