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> Pensions are a Ponzi scheme, don't fall for it. Pensions are mostly just highly tax advantaged wrappers for investments now. They are most definitely not pon
by IanCal 9y ago
> Pensions are a Ponzi scheme, don't fall for it.
Pensions are mostly just highly tax advantaged wrappers for investments now. They are most definitely not ponzi schemes.
Your link is for a defined benefit pension, which is not typical anymore.
- PoachedSausage 9y agoThat's the point. Large numbers of current retirees have been promised unaffordable pensions.
- IanCal 9y agoTelling people to "not fall for it" sounds like talking about what people will currently be offered. Given the level of misunderstanding about pensions generally I think just telling people this is dangerous.
- exclusiv 9y agoIt may not be typical anymore but CalPERS is a defined benefit plan and the largest public pension fund in the US. [1] The problem is they bump up those benefits when their fund is doing well but when it isn't doing well there's little or no adjustment. It's so big it's fund is influential in the market and also in politics. [1] https://en.wikipedia.org/wiki/CalPERS https://en.wikipedia.org/wiki/CalPERS