silversand wrote:
If people haven't provided for their own retirement, who's fault is that?
......... This is an outrageous situation, and is thoroughly covered in the investigative report done recently by Frontline (PBS), in the documentary The Retirement gamble, here-->
I hope the above and the investigative documentary puts some perspective into retirement for you?
Silver-
I watched the Frontline documentary until they said there was nothing wrong with the 1960 and 1970's company retirement plans.
Totally False!
Those funds WERE invested and the recent downturn affected them as well!
I worked through those years and have a company and a union retirement plan so I know what I'm talking about, unlike the Frontline reporters!
Luckily for me my union fund cut benefits for those still working. Leaving the retired members pensions alone.
My Company fund was administered by a solvent company that was able to make up the retirement funds investment losses. Leaving my pension intact.
A government department does sometimes back some pension funds. But less than expected payouts can and do happen!
Nature has taught us many times that the only thing certain is our deaths.