Mandatory pension funds: What are your thoughts?
in Banking, Insurance & Loans ·
I don't see any reason why these private pension funds—the whole "second pillar" thing—shouldn't just go belly up. I mean, pension funds fail all over the world every single day. Just look at Enron. I think I read somewhere that hundreds of these funds have already collapsed globally.
Personally, I feel like there was never even a need to set up a separate second pillar. They could've just fixed the existing system by splitting the fund into a social safety net portion and an individual investment portion. That way, when you retire, your check is just a mix of the social part and whatever you actually put in. We could've just used the infrastructure we already had.
The problem is, if they did that, outside interests wouldn't get their hands on our cash, but those lobbyists are just too powerful. Money talks, and it talks loud!
It’s what you call democracy, or maybe money-cracy, or greed-cracy... whatever you want to call it.
Down with fascism, freedom for the people!
Personally, I feel like there was never even a need to set up a separate second pillar. They could've just fixed the existing system by splitting the fund into a social safety net portion and an individual investment portion. That way, when you retire, your check is just a mix of the social part and whatever you actually put in. We could've just used the infrastructure we already had.
The problem is, if they did that, outside interests wouldn't get their hands on our cash, but those lobbyists are just too powerful. Money talks, and it talks loud!
It’s what you call democracy, or maybe money-cracy, or greed-cracy... whatever you want to call it.
Down with fascism, freedom for the people!