4 ms·

Why do people owe me a nice retirement? I never really got the idea of state-funded retirement. Perhaps I should feel I'm owed something if I'm too fragile/disa

by kypro 1y ago

Why do people owe me a nice retirement? I never really got the idea of state-funded retirement. Perhaps I should feel I'm owed something if I'm too fragile/disabled to work, but I don't know why age alone should grant me anything? Appreciate this is a controversial view so interested in hearing why I'm wrong so I can stop holding it. I think retirement should just be replaced by disability welfare to be honest.

jillesvangurp 1y ago
The state pension in most countries is simply a collective pension fund that you pay for during your working life (or your employer does on your behalf). The state owes you retirement because you paid for it. It's not a handout that others are paying for you; you actually paid for it your entire working life. So, Denmark raising the retirement age is kind of a big deal. I imagine the Danish might be less than thrilled about that.
izacus 1y ago
Open a history book. Read upon why state pensions were introduced - by people who thought like you actually. (Spoiler: because alternative doesn't end well even for the wealthy.) Isn't 19th century covered by history classes anymore? :/
adamors 1y ago
At least in Europe, you pay a percentage of your wage into the state’s pension fund. Details vary by country, but it’s not uncommon that you contribute automatically 10% of your gross salary. For your entire working life. The state then being kind enough to give you something back after 35-40 years of contributions is expected.
bachmeier 1y ago
Just to throw out one reason - it's valuable to working people because they don't have to take care of their parents in old age. Can't speak to Europe, but Social Security in the US is definitely not enough for a "nice retirement". It may help a frugal person in a low cost of living area cover their basic expenses.
- 0xBDB 1y ago
  > Social Security in the US is definitely not enough for a "nice retirement". A two-retiree couple who contributed at the tax limit for long enough would get $122,592 in Social Security benefits in 2025. Not beachfront living in the Hamptons, perhaps, but not cat food eating money either.
insane_dreamer 1y ago
The state isn't paying for it, you're paying for it, through your taxes. (Technically you're paying for the next generation's retirement, but it's the same principle.)

by kypro 1y ago

jillesvangurp 1y ago

The state pension in most countries is simply a collective pension fund that you pay for during your working life (or your employer does on your behalf). The state owes you retirement because you paid for it. It's not a handout that others are paying for you; you actually paid for it your entire working life. So, Denmark raising the retirement age is kind of a big deal. I imagine the Danish might be less than thrilled about that.

izacus 1y ago

Open a history book. Read upon why state pensions were introduced - by people who thought like you actually. (Spoiler: because alternative doesn't end well even for the wealthy.) Isn't 19th century covered by history classes anymore? :/

adamors 1y ago

At least in Europe, you pay a percentage of your wage into the state’s pension fund. Details vary by country, but it’s not uncommon that you contribute automatically 10% of your gross salary. For your entire working life. The state then being kind enough to give you something back after 35-40 years of contributions is expected.

bachmeier 1y ago

Just to throw out one reason - it's valuable to working people because they don't have to take care of their parents in old age. Can't speak to Europe, but Social Security in the US is definitely not enough for a "nice retirement". It may help a frugal person in a low cost of living area cover their basic expenses.

0xBDB 1y ago
> Social Security in the US is definitely not enough for a "nice retirement". A two-retiree couple who contributed at the tax limit for long enough would get $122,592 in Social Security benefits in 2025. Not beachfront living in the Hamptons, perhaps, but not cat food eating money either.

insane_dreamer 1y ago

The state isn't paying for it, you're paying for it, through your taxes. (Technically you're paying for the next generation's retirement, but it's the same principle.)