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Germany has a state run retirement fund that gets deducted from you paycheck (about 19%. split between employer and employee). That mostly solves that problem,
by rb2k_ 13y ago
Germany has a state run retirement fund that gets deducted from you paycheck (about 19%. split between employer and employee).
That mostly solves that problem, but leaves people like me that would like to handle retirement savings themselves a bit annoyed.
- RandallBrown 13y agoThe US has Social Security which is basically a state run retirement. The problem is that it's funded by the people currently working. This worked out great when there was a surplus of workers. Now that less people are working than are retiring, the social security funds are in danger of running out.
- NonEUCitizen 13y agoApparently German system is also "pay as you go" : http://en.wikipedia.org/wiki/Pensions_in_Germany http://en.wikipedia.org/wiki/Pensions_in_Germany
- Retric 13y agoSS has a surplus designed to keep it solvent for the reasonable future. The real issue is a low cap on contributions when most economic growth in the last 30 years has been in the top 5%. Coupled by an ever growing disability burden that has nothing to do with retirement and who's growth is linked to states trying to shift burdends to the federal level.
- ArtB 13y ago> That mostly solves that problem, but leaves people like me that would like to handle retirement savings themselves a bit annoyed. Ironic, because that's how I feel about speed limits: it's for the best overall but annoying to those that drive well... and you're from Germany where they have the Autobahn. That said, my concern for my dim-witted but well meaning citizens makes me willing to bear this for the overall good.