Archived posting to the Leica Users Group, 2011/03/13
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]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 >