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The 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 whe
by RandallBrown 13y ago
The 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.