> that they will suddenly stop what they are doing after a certain age and let younger generations pay for their salary
This is the worst take I have seen in a while. First of all, in both Germany and Türkiye, we put aside a part of our monthly remuneration towards our pension. So when we retire, there is already a sizable sum that we have accumulated via our own work, nobody else is 'paying for our retirement'. It's our own money.
There is no some mythical younger generation working to pay our pensions, we have earned this money, it belongs to us, and we have all the reason to expect to not have to work in our old age.
The problem is only that in the current pension model, your money are not kept tight by the government or the pension fund, but instead spent or speculated with on the stock market. In this model, when you retire, it's not your money you are actually getting, but the pension contributions of the younger generation, because your money has been long spent. But that's a problem of the model, not some unsurmountable obstacle that the author of the article tries to make you believe.
Heck, if the pension fund or the government can't get it right, they can f-off and we can start saving for retirement on our own. But they say they can, so they either have to stand behind their promises, or reorganize to the new reality of people living longer and less young people entering the workforce. If that means that the government needs to guarantee a certain % of our pensions as a collateral, so be it. The world can benefit from less stock market speculation and more monetary resilience.
The myth that the younger generation is somehow paying the pensions of the old and that it's somehow a problem applies only if you don't ask: where did all the money we contributed towards our pension go. It's just a fault in the system that our own pension money is spent recklessly by the governments' bad calculations. The solution to that is emphatically not, as the author mentioned, 'expecting to never retire', but by demanding that our pension money is responsibly handled and not spent in the expectation that future schmucks will also join in this pyramid scheme.
This is the worst take I have seen in a while. First of all, in both Germany and Türkiye, we put aside a part of our monthly remuneration towards our pension. So when we retire, there is already a sizable sum that we have accumulated via our own work, nobody else is 'paying for our retirement'. It's our own money.
There is no some mythical younger generation working to pay our pensions, we have earned this money, it belongs to us, and we have all the reason to expect to not have to work in our old age.
The problem is only that in the current pension model, your money are not kept tight by the government or the pension fund, but instead spent or speculated with on the stock market. In this model, when you retire, it's not your money you are actually getting, but the pension contributions of the younger generation, because your money has been long spent. But that's a problem of the model, not some unsurmountable obstacle that the author of the article tries to make you believe.
Heck, if the pension fund or the government can't get it right, they can f-off and we can start saving for retirement on our own. But they say they can, so they either have to stand behind their promises, or reorganize to the new reality of people living longer and less young people entering the workforce. If that means that the government needs to guarantee a certain % of our pensions as a collateral, so be it. The world can benefit from less stock market speculation and more monetary resilience.
The myth that the younger generation is somehow paying the pensions of the old and that it's somehow a problem applies only if you don't ask: where did all the money we contributed towards our pension go. It's just a fault in the system that our own pension money is spent recklessly by the governments' bad calculations. The solution to that is emphatically not, as the author mentioned, 'expecting to never retire', but by demanding that our pension money is responsibly handled and not spent in the expectation that future schmucks will also join in this pyramid scheme.