3 ms·
I don't know how your private sector works, but it is perfectly natural for private pension funds in other parts of the world to offer those kinds of plans. You
by jmartinpetersen 13y ago
I don't know how your private sector works, but it is perfectly natural for private pension funds in other parts of the world to offer those kinds of plans. You can exchange cash now for an insurance against living longer than you can otherwise afford. Normally, there's then governmental oversight that tries to ensure, that you can be sure, that the pension fund can actually deliver on their promise.
- yummyfajitas 13y agoWe have this in the US as well. ERISA and similar laws are the specific regulation. After ERISA and the like were passed, companies generally transitioned from defined benefit to defined contribution pensions since defined benefit pensions were too expensive when honestly accounted for. Government agencies (except for the USPS) are exempt from these regulations.