it sucks yes, but they were giving too much for the pension despite warnings, if they reduced it years ago, even decades, they'd be in a better position, but then people would complain that the government was not looking after the retirees. To serve the people, they doomed them.
Well, kinda. People pay into Social Security. Pensions are funded either from employees, employers, or most likely both. The idea behind SS is sound: people pay into their whole working lives and use it only when they have to. Also, people are encouraged to have retirement funds and other back-ups. Nobody plans on living off their SS alone.
The problem with SS is that the government has tapped into it to pay for other things. Otherwise the money would still be there and it would work. But since the govt went and spent it all, the whole system is in trouble.
It's about the debts they had to pay EU but were unable to. There have been riots because banks were closing and they refused to give people their money.
Comments