3 ms·

Living longer is an excuse that only covers for the increasing of age at which you are allowed to retire. My grandfather retired at 59 (lived to be 89 btw). My

Living longer is an excuse that only covers for the increasing of age at which you are allowed to retire. My grandfather retired at 59 (lived to be 89 btw). My retirement age is set to 69. That still leaves problems like not correcting for inflation and increasing the pension contributions unexplained. The pension system in it's current form is not sustainble forever because you need a multitude of people working vs people who are retired. It's a pyramid. The solution is rather obvious; People should save for their individual retirement. But since the people who are now retired (or going to in the next 10 years) don't want to change the system (can't say I blame them) the measures that need to be taken are never going to be taken. Because there will forver be "people who are going to retire in the next 10 years".

Fnoord 5y ago
59 years, like Greece had. Doesn't work, not enough labour years. Pension funds a pyramid scheme, lol. Pension funds invest the money (not with high risk, but they can take some risks cause of the long tail) so you get more back than if you would save the money on bank. Even more so today than when banks still provided interest. They are also legally bound to have a minimum percentage of the funds, which is close to 100% (but not 100% which is OK since not whole population reaches retirement at same time). Some people will claim they're better with investing and speculation. Great! Earn your bacon with it or make it your hobby for all I care. Some funny people will play the cryptocurrency game (no problem) and convince others to join the pyramid scheme (fuck that). Someone's always funding that as it is a zero sum game.