Archived posting to the Leica Users Group, 2011/03/13

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Subject: [Leica] Government and school pensions
From: jayanand at gmail.com (Jayanand Govindaraj)
Date: Mon, 14 Mar 2011 08:24:12 +0530
References: <AANLkTikSw38YyYSxGfuxM4edxVTg8h0TvBYBuDp_Xc2D@mail.gmail.com> <26075ACF-042C-4D77-9333-C55394821CE4@embarqmail.com> <BAFD30D1-97D6-427F-BE80-1BF8DFB5DBFC@mac.com> <008f01cbe1d3$9abdcc30$d0396490$@earthlink.net>

Pension plans as they are now are nonsense. The US system of retirement
benefits makes it far, far more a socialist state than say, China or India.

State pensions were first introduced by Otto von Bismark on the basis that,
in his era, with a average life span of 48 in Germany, anyone living till 60
deserved state support. The year 60 has stayed more or less inviolate, while
our life spans have steadily increased. In the USA right now, life insurance
companies use an average lifespan of 93 years in their actuarial tables to
compute premium, and is likely to reach 100 years in the next decade or so.
Pensions should kick in at 85 years nowadays, not earlier. To survive till
then - be prudent and save!

Cheers
Jayanand

On Mon, Mar 14, 2011 at 4:38 AM, Frank Filippone <red735i at 
earthlink.net>wrote:

> But it was expected they would die from old age 3 years after retirement...
> 62 and 65 years old......
>
> Now we retire at 62 ( or 55 if you are a fireman or policeman) and die at
> 85.....
>
> Pension plans never thought that would happen....at least the old time
> ones.....
>
> Frank Filippone
> Red735i at earthlink.net
>
>
> > But, let's not forget. Pensions were one of the things management used as
> a bargaining tool to keep wages down. Employees were persuaded to work for
> less today on the promise of being cared for after retirement.
>
>
>
>
> _______________________________________________
> Leica Users Group.
> See http://leica-users.org/mailman/listinfo/lug for more information
>


In reply to: Message from lrzeitlin at gmail.com (Lawrence Zeitlin) ([Leica] Government and school pensions)
Message from ricc at embarqmail.com (Ric Carter) ([Leica] Government and school pensions)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] Government and school pensions)
Message from red735i at earthlink.net (Frank Filippone) ([Leica] Government and school pensions)