Saw an article I now can’t find (of course) about pensions.
The general talk is how we must contribute all our lives in order to get a pension.
The fact is, that, like hospitals, pensions are a revolving obligation. We fund hospitals from taxes (Some of which the Government should keep to build the next one (Remember ‘Saving up’?) and some of the taxes go to fund the day to day operation of the hospital. You don’t need to ‘save up’ for a heart attack do you?
Hospitals are funded on the understanding that they are there all the time, for all of the people.
Same as pensions.
The Government has known for 50 plus years that the ‘Boomers’ will be retiring. No surprise heart attack in that. The Government continuously takes taxes to pay for this retirement on the same basis as funding hospitals. People live, retire and die.
The problem is that the politicians have spent beyond their means and there has been no ‘Saving up’. All income has been spent and then more on the credit card of Government bonds.
So, the con job in the media starts – “Save up for your retirement”,”No pension for millennials” etc.
Hang on – the younger section of the workforce are paying their taxes. They expect hospitals and pensions ready and waiting when required. The taxes come in, doctor’s wages and pensions go out. Revolving door.
Government is now trying to lay the dishonest story that it is ‘Your’ savings paying for ‘Your’ retirement and that YOU need to accept there will be no pension when you retire (Because they have already spent it). So why are you paying for a pension you will not get?
As with most things – The Government is scamming you and the media are duly lapping up the BS and reprinting it.
When Millennials retire, there will be a workforce paying taxes to fund hospitals and pensions.