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I was told that as well 40-45 years ago, and yet, here we are 40+ years later and lo-and-behold it is still paying benefits.
by ejb999 4y ago
I was told that as well 40-45 years ago, and yet, here we are 40+ years later and lo-and-behold it is still paying benefits.
- gmueckl 4y agoBut back then the age pyramid wasn't yet inverted. Right now it actually is literally upside down in some countries, e.g. in Germany. In the next ~5 years the biggest age group within the German population will retire. That inversion will continue for a few decades.
- ejb999 4y agoyes, and back then you could fully retire at a much younger age - in the US at least, the full retirement age keeps increasing, and neither party is going to vote for any policy that allows SS to collapse; just not going to happen. The fear-mongers have been alive and well for 40+ years, have no doubt they will continue to push the fear - its good for news clips and web clicks, if nothing else.
- PeterisP 4y agoAs the age structure 'moves upwards' it shrinks due to some people dying. What I'm guessing is that retirement ages will continue to increase to the point where that birth year group which is the biggest now won't be as large anymore due to attrition - that whatever band where the pyramid is still inverted will simply be defined as "working non-retirement age", even if that is decades older than now.
- gmueckl 4y agoThat particular peak is so big that it will stay dominant for about another 15 years at least. You can go to https://service.destatis.de/bevoelkerungspyramide/index.html#!l=en https://service.destatis.de/bevoelkerungspyramide/index.html... to see the data and projections on this.
- spaniard89277 4y agoSome countries are literally paying pensions with ECB money, screwing everyone else in the process even more. An many are just about to have the same.