PowerSwitch Main Page
PowerSwitch
The UK's Peak Oil Discussion Forum & Community
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

It turns out, the maths behind austerity is wrong!
Goto page Previous  1, 2, 3
 
Post new topic   Reply to topic    PowerSwitch Forum Index -> News
View previous topic :: View next topic  
Author Message
vtsnowedin



Joined: 07 Jan 2011
Posts: 4281
Location: New England ,Chelsea Vermont

PostPosted: Thu Oct 12, 2017 3:04 pm    Post subject: Reply with quote

JavaScriptDonkey wrote:


Pensions are a huge strain on national resources and the finances of private companies. That is why final salary schemes no longer exist.

Pensioners are a huge strain on the NHS and the cost of running that is one of the reasons why free grants for University education no longer exist.

So much for inter-generational solidarity.

The great mistake was giving pensions free at the inception of the Social Reforms. Younger generations do not pay in to save for their own retirement because they are working too hard to pay the benefits for today's pensioners.

It's a Ponzi scheme and they always end the same way.

Not all of them are ponzi schemes, If the proper amounts are paid in during the employee.s working life and management kept from raiding the till they can do quite well.
The fund I receive checks from made 13.5% on their investments last year and now has 8.29 billion in assets or $250,000 for each of the 33,000 recipients. But it was not free as they took six percent of every dollar I made for thirty years and I paid Social security taxes as well which I am also drawing on.
Note that this was a good year for the fund and they plan around 7.25% return on average to keep above water.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    PowerSwitch Forum Index -> News All times are GMT + 1 Hour
Goto page Previous  1, 2, 3
Page 3 of 3

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group