Pension age is raised 2 years in France, now Paris is burning.
- Thread starter wilburbear
- Start date
work until you drop
I'm waiting for millennials to realize one day (if they ever smarten up), that the government is robbing them right from their paychecks. It should be up to the INDIVIDUAL to decide how much they wish to deposit into their own retirement accounts.
In Canada, the government takes Canadian Pension Plan (CPP) taxes/contributions right off from the source, and then forces your employer to do the same, doubling this.
What do they do with it? The average person THINKS that the government does investing for them, so they can take it out later in their old age, LOL.
That $ isn't invested, nor is there even a real pension fund. And in fact, not only is there no CPP fund, there is a huge hole there (which is unlikely to be ever filled)...
This basically is fraud.
But for the government... working-as-intended.
So when millennials retire, not only will they NOT have a penny to retire on, but all that money stolen, they could have USED that to retire on if they had been allowed to take full custody themselves.
It will get much worse in America...
In Canada, the government takes Canadian Pension Plan (CPP) taxes/contributions right off from the source, and then forces your employer to do the same, doubling this.
What do they do with it? The average person THINKS that the government does investing for them, so they can take it out later in their old age, LOL.
That $ isn't invested, nor is there even a real pension fund. And in fact, not only is there no CPP fund, there is a huge hole there (which is unlikely to be ever filled)...
This basically is fraud.
But for the government... working-as-intended.
So when millennials retire, not only will they NOT have a penny to retire on, but all that money stolen, they could have USED that to retire on if they had been allowed to take full custody themselves.
It will get much worse in America...
Government can print money while individuals can’t. That’s the logic. So let individuals to save, then they will spend it. To ask every citizen to be disciplined is not a plan, even the ancient Rome knew that.
Are you sure? The CPP investment board claims to have 563 billion under management.
When was the current pension-age ratified/established?
I have no idea. But as the population gets older, it's seems like a right choice the raise the pension-age.
I am assuming they are using the term "pension" in France to mean the equivalent of Social Security retirement here. Because in the US, a pension fund is paid by the employer, along with employee payments as well if they so choose. So while a US retiree can get their employer pension plus SSA benefits, can a retiree in France get the same?
Don't know about the structure in France.
But, usually in Europe, a portion of your taxes, as long as you're working, despite your age, goes into your retirement fund .
Then that money is being used to buy Tbills & to get long into various investments, and from the returns you're being paid that pension.
You can save for the retirement, on top of that freely through various products.