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A pension is something companies used to provide to their employees. Employees used to be able to stay their entire career with one company and amass a pretty d

A pension is something companies used to provide to their employees. Employees used to be able to stay their entire career with one company and amass a pretty decent retirement pension with said company. Then Wall Street got corrupt. They demanded ever more from companies. Each quarter had to show more profit from the last otherwise they punished the company. Wall Street found ways of funneling any profits directly to investors instead of investing in the company (and, more importantly, it's employees). Pensions took a hit. Companies stopped offering them. Some companies 'borrowed' from pensions and lost it all. The employees did suffer. Employee loyalty dropped. Companies took that as an opportunity to treat employees as temporary; replacing them regularly with cheaper ones. You'll have to wait until tomorrow night to hear the rest of the story. G'Night.

raverbashing 11y ago
Oh how funny You just forgot to mention how pensions funds invest heavily in 'evil' Wall Street And how Wall Street has not been invented in the last couple of years. And how people happily wound a rope on their necks for a bigger house.
ionised 11y ago
This is a BBC article and in the UK, pensions are still very much alive. We receive a state pension at retirement that is dependent on national insurance contributions over the course of your working life. You can also contribute to (and have recently probably been automatically opted into) private workplace pensions that your employer will probably match (up to a point).
- thinkmoore 11y ago
  This is true in the US, where the state pension is called social security. Except that conservatives have somehow rebranded this "entitlement" (to which you are entitled because you pay contributions over your working life) to something whiny "entitled" workers are unfairly demanding from the government.

raverbashing 11y ago

Oh how funny You just forgot to mention how pensions funds invest heavily in 'evil' Wall Street And how Wall Street has not been invented in the last couple of years. And how people happily wound a rope on their necks for a bigger house.

ionised 11y ago

This is a BBC article and in the UK, pensions are still very much alive. We receive a state pension at retirement that is dependent on national insurance contributions over the course of your working life. You can also contribute to (and have recently probably been automatically opted into) private workplace pensions that your employer will probably match (up to a point).

thinkmoore 11y ago
This is true in the US, where the state pension is called social security. Except that conservatives have somehow rebranded this "entitlement" (to which you are entitled because you pay contributions over your working life) to something whiny "entitled" workers are unfairly demanding from the government.